When you think about finance as a discipline, numbers and mathematics are probably among the first things that come to mind. And, while it’s true that working in finance inherently means working with numbers, finding success in this field depends perhaps just as much on your soft skills and core competencies. More than ever, employers are looking for finance professionals who are not just good with numbers but also skilled communicators, collaborators, and decision-makers. So, what soft skills do you need to thrive in the dynamic world of finance?
Why Soft Skills Matter in Finance
As the finance industry continues to evolve, there’s an increasing demand for professionals in the field with strong finance soft skills. After all, with more automation and artificial intelligence (AI) permeating the industry, technology is capable of handling the data — but humans are still needed for strategizing, communicating, and making informed decisions.
More specifically, finance professionals with soft skills are integral to interactions with clients, stakeholders, teams, and even regulators. All of this requires a strong sense of emotional intelligence and excellent communication skills. Not to mention, these soft skills are often what separate entry-level analysts from more advanced roles (such as CFO, director, and finance manager) that require the ability to truly understand client needs, lead teams ethically, and interpret data meaningfully.
Top Soft Skills for a Successful Finance Career
Aside from the hard skills you need to succeed in finance (like accounting, risk management, and budgeting knowledge), below are some of the most essential soft skills to have in this field.
Communication Skills
Both written and verbal communication skills are a must in the finance industry, especially when working with clients, executives, and other stakeholders. In fact, one 2022 study found, “The most important skill sought by employers among candidates for work in the financial industry is communication, collaboration, and creativity.”
Finance professionals should be able to communicate and collaborate effectively with not only others in the field but also non-financial stakeholders who may not “speak the language” or understand everyday industry jargon. Being able to explain complex financial concepts to those outside of the field (including clients) can go a long way in keeping them informed.
Meanwhile, solid writing skills are crucial for writing financial reports, preparing memos, and even creating compelling presentations for clients or other stakeholders.
Critical Thinking and Problem-Solving
In addition to strong communication skills, today’s finance professionals need to be critical thinkers with the ability to tackle problems head-on and brainstorm creative solutions. This includes being able to analyze trends and financial statements to forecast or identify risks, as well as carefully evaluating investments and developing tailored strategies based on information provided (even if that information/data is incomplete).
Ethical Judgment and Integrity
Working in finance often means dealing with sensitive and potentially confidential financial data or personal information. As a result, professionals in this field need to have a high sense of ethical judgment and integrity when working with sensitive information, making high-stakes decisions, and complying with the latest regulations. Working with integrity is particularly crucial in roles that involve auditing financial reports, advising clients, and maintaining regulatory compliance.
Emotional Intelligence
Emotional intelligence is a soft skill that’s all too frequently overlooked in the workplace, but it’s become vital in the finance industry — specifically working with team members, leading others, and maintaining strong relationships with clients.
Mental Health America defines emotional intelligence as “the ability to manage both your own emotions and understand the emotions of people around you.” In finance, this skill can help you work better with others, mitigate conflicts, and recognize the needs of the team members and clients with whom you work.
Adaptability and Resilience
In recent years especially, the world of finance has changed and evolved in some significant ways. From new technologies and regulations to market fluctuations, finance professionals must constantly adapt to changes in order to remain relevant and find success. Being agile and being able to respond quickly to change is a skill that can serve you well in finance as the industry continues to develop and grow.
Collaboration and Teamwork
In many finance roles, projects are interdepartmental and client-facing, meaning that professionals need to be able to collaborate and work effectively with diverse groups of people to solve problems and keep projects moving forward. Finance professionals may also be tasked with working in cross-functional teams (such as those in marketing, legal, or operations teams) — so being able to collaborate with team members from other professions is a must.
Time Management and Prioritization
One of the most critical skills you can have as a finance professional is time management, or being able to handle multiple projects and responsibilities at once. From juggling deadlines to balancing different short- and long-term goals, finance professionals must be experts in prioritizing tasks and managing their time efficiently — particularly in high-stakes and time-sensitive environments, like investment banking and financial planning.
How Soft Skills Accelerate Career Growth in Finance
Striving to work your way up the ladder in the finance industry? Having strong technical and soft skills could help you advance your career. Oftentimes, promotions, leadership roles, and important client-facing opportunities are awarded to those with the strong interpersonal skills needed to lead teams, build trust with clients, and navigate challenges.
By mastering the soft skills covered above and demonstrating your own competencies, you may be able to advance into such finance roles as:
- Controller
- Chief financial officer (CFO)
- Senior analyst
- Portfolio manager
- Financial manager
Integrating Soft Skills Into Your Finance Education
While any finance degree program should cover the hard skills you’ll need to work in the field, it’s imperative to look for a program that will also provide you with the chance to develop these key finance soft skills.
Ideally, the Bachelor of Finance program you ultimately choose should include real-world experiences to help you develop these competencies. This includes not just group projects and classroom presentations, but realistic simulations and case studies, as well as hands-on internships and job shadowing opportunities. Some programs may even offer special clubs or other extracurriculars where students can work on these skills.
How Baker College’s Online Finance Degree Helps You Develop Soft Skills
Still seeking the Bachelor of Finance degree program that will blend both technical proficiencies and soft skills into a well-rounded curriculum? At Baker College, our finance degree program covers critical technical topics like financial analysis, investments, and business analytics along with soft skills like leadership, collaboration, and adaptability.
Focus on Communication and Collaboration
Courses in Baker College’s degree program include regular group projects, peer discussions, and presentations that are meant to strengthen students’ verbal and written communication skills. With these experiences, students can learn how to explore complex financial data to non-finance audiences, empowering them to connect with others and explain industry concepts in a way that anybody can understand.
Leadership and Decision-Making Skills
Assignments in Baker’s finance program are designed to simulate and closely replicate real-world business scenarios, giving students the ability to lead projects and apply the decision-making skills they’ve learned in class.
Time Management and Self-Discipline
Students in our online finance degree program will also have the opportunity to develop their time management and self-discipline skills, especially as they work to manage deadlines, prioritize tasks and assignments, and work independently. These skills can be readily applied to any finance role.
Supportive, Industry-Informed Instruction
Our finance faculty have real-world experience working in the field themselves, allowing them to provide valuable guidance and mentorship for students seeking professional growth and leadership development.
Preparation for Diverse Finance Careers
With all this in mind, graduates from Baker College’s finance degree program are equipped with both the technical knowledge and soft skills they need to compete for top roles in corporate finance, investment banking, financial planning, and beyond. Our comprehensive curriculum truly empowers students to explore the areas of the field that are most compelling to them while building versatile soft skills in the process.
Ready to Start Your Degree in Finance?
When it comes to being a well-rounded professional, having soft skills in finance is just as essential as mastering the more technical aspects of the field. If you’re interested in a career in finance, then choosing a degree program that will cover both soft and hard skills could set you up for success.
At Baker College, our bachelor’s degree in finance is designed to prepare students for the inherent challenges and opportunities that come along with careers in finance. With a well-rounded education from our career-focused curriculum, you can gain the key skills and knowledge you need to explore careers in corporate finance, banking, financial planning, and beyond.Want to learn more? Connect with our team to request more information about our bachelor’s degree in finance, or take the next step by completing your online application for admission today.