Finance is serious business, an industry that requires excellent formal education and meticulous effort to face stiff competition, and keep pace with a dynamic environment prone to constant changes. Jobs in the finance sector or even in the finance department of reputed companies are highly sought after, primarily because of the importance of the industry, the challenges posed and the high rewards that come with special positions. Needless to say, errors may prove costly.
Here are a few tips to help you survive in a finance job:
Knowledge is Power
Finance is an evolving field, with rules, regulations and market conditions constantly undergoing revisions. Those with financial jobs should pay special attention to foreign exchange, currency valuations, and taxation and banking policies and continuously update themselves on the changes to stay in the loop. Novices will have to brush up the special jargon native to the industry to follow communications effectively. Having an experienced mentor at the workplace is an ideal source of practical knowledge.
Network Where it Counts
Finance is very similar to research, as both fields promote and reward individual effort. Both of these fields require an expertise and a serious, analytical approach. Unlike research, finance professionals will be expected to improve upon their networking skills to listen to the requirements of clients, company management, team members, and immediate superiors, to focus their efforts based on needs. They also need to be good communicators and be able to neatly present their work to others in a precise and understandable manner.
In addition to developing interpersonal skills, finance professionals aspiring to move up the organizational hierarchy will also have to master the skills of building and leading a team of talented members.
Know the Technology
With most businesses opting to go digital, documents and fact sheets are increasingly created and maintained in the electronic format, making it a must for those in financial jobs to get familiar with the prevalent technologies. Accounting systems today are mostly automated, as companies save a lot of time and effort in using integrated software to maintain inventory, sales, purchase, human resources, and financial data in digital format.
Enterprise software also includes features that support data analysis and report generation, making number crunching and reporting even more effortless. Knowledge of using computers as well as familiarity with usage of automated accounting software certainly works in favor of the employee. Learning to create and manage financial presentations using appropriate software also helps improve productivity.
Getting into a finance job is a challenging task in itself. Having secured one, survival simply depends on the meticulous, consistent, and result-oriented efforts of the individual. Like any other industry, one would have to remain updated constantly, as the competition out there is cut-throat and merciless.
About the Author: Nick Anderson is a Forensic Accounting Expert at forthsonline.co.uk. He started contributing on different finance blogs to share his finance and accounting experience. You can follow Nick on twitter @NickNikanderson.