Technical skills vs soft skills: What finance hiring managers really want
Introduction
What do finance hiring managers prioritize when assessing potential candidates—technical prowess or soft skills? The debate between the importance of technical skills and soft skills has long been a topic of discussion in the recruitment arena. While technical skills are essential for performing specific tasks, soft skills are crucial for navigating the interpersonal aspects of the workplace. This report delves into the nuanced preferences of finance hiring managers, underpinned by industry insights and empirical data.
The Importance of Technical Skills
Technical skills in finance, such as financial modeling, data analysis, and knowledge of regulatory frameworks, are indisputable necessities. These skills are the bedrock upon which candidates can perform the fundamental tasks required in finance roles. Technical skills are quantifiable and can be easily validated through certifications, degrees, and practical assessments. They provide a clear indication of a candidate’s capability to handle the job’s core responsibilities.
The Rising Value of Soft Skills
However, the finance sector is not immune to the shifting dynamics of the modern workplace, where soft skills are increasingly recognized as pivotal. Communication, problem-solving, and time management are soft skills that finance professionals must possess to thrive in fast-paced and collaborative environments (Peak Career Mentors). These non-technical skills facilitate effective teamwork, adaptability, and leadership—qualities that are vital for long-term success and progression within the industry.
The Interplay Between Technical and Soft Skills
The reality is that the distinction between technical and soft skills is not as clear-cut as it may seem. Both sets of skills affect job search success and performance on the job. For instance, a web developer’s technical expertise is undeniably crucial, but their ability to communicate and collaborate with other team members is equally important for project success (Indeed). In finance, the same principle applies. A financial analyst might have an exceptional grasp of numbers, but without the ability to articulate their findings, the value of their technical skill is diminished.
What Finance Hiring Managers Really Want
When it comes to what finance hiring managers are looking for, the answer is not an either/or proposition. The integration of both technical and soft skills is what creates a well-rounded candidate. As companies strive for greater adaptability, blending these skill sets becomes imperative (Skillcycle). Listening skills, empathy, and conflict resolution are soft skills that complement technical expertise, enabling finance professionals to navigate complex interpersonal dynamics and drive organizational success.
Conclusion
In conclusion, while technical skills form the necessary foundation for executing financial tasks, soft skills are the glue that holds teams together and enables effective leadership and communication. Both are essential for professional success, and finance hiring managers are keenly aware of this interdependence (This vs That). The most sought-after candidates in the finance sector are those who not only possess the technical know-how but also exhibit strong interpersonal abilities that foster collaboration and innovation.
About
Headquartered in London and Dubai, Warners Scott is a distinguished global executive recruitment specialist in Banking & Investments, Accounting & Finance, and Digital & Fintech. With over 18 years of industry experience, they have established strong relationships with top-tier banks, financial institutions, and accountancies. Their unique edge lies in these longstanding relationships with hiring managers and internal recruiters, a vast candidate network, and constant candidate engagement. This combination places them in a trusted position with both talent and hiring managers. Their deep understanding of recruitment needs allows them to uncover senior C-suite, EVP, SVP, and MD-level hidden, ready-to-move talent that others cannot access.
With tailor-made recruitment solutions for international and regional clients, Warners Scott works as dedicated business partners. Their services include retained, exclusive, and contingency searches, alongside permanent, contract, and interim staffing options.
In Banking and Investments, they excel with international and regional banks and investment houses in London and the Middle East, including conventional and Islamic banks. They cover areas such as Private Equity, Asset Management, Investment Banking, Treasury & Global Markets, Wholesale Banking, Digital & Technology, Risk Management & Compliance, and C-Suite Appointments.
In Accounting and Finance, Warners Scott collaborates with The Big 4 and Top 50 accounting firms, along with globally recognized consultancies. They specialize in Audit, Risk & Compliance, Tax (Private Client, Expatriate, and Corporate Tax), Corporate Finance, Transaction Advisory, Restructuring, Turnaround, Insolvency, Forensic Accounting, Disputes & Investigations, Forensic Technology, eDiscovery, Cyber Security, and Management Consultancy.
In Digital & Fintech, they support large banks, digital startups, and innovative Fintechs in areas such as FinTech (AI, Blockchain, Cloud Computing, Big Data), InfoSec/Cybersecurity (Application, Infrastructure, Network, Cloud, IoT securities), Digital Leadership, Digital Transformation, Software Development, IT Project/Program management, Data Science & Analytics, Data Privacy, and Data Architecture.
References
– Peak Career Mentors. “3 Must-Have Soft Skills for Finance Interviews.” LinkedIn, https://www.linkedin.com/pulse/3-must-have-soft-skills-finance-interviews-peak-career-mentors.
– Indeed. “Technical vs. Soft Skills: Similarities and Differences.” https://ca.indeed.com/career-advice/career-development/technical-vs-soft-skills.
– Reed. “Top 10 Soft Skills You Need to Work in Finance.” https://www.reed.com/articles/top-10-soft-skills-you-need-to-work-in-finance.
– Skillcycle. “Finding a Balance: Technical Skills vs. Soft Skills at Work.” https://www.skillcycle.com/blog/finding-a-balance-technical-skills-vs-soft-skills-at-work/.
– This vs That. “Soft Skills vs. Technical Skills.” https://thisvsthat.io/soft-skills-vs-technical-skills.
In light of these insights, are you nurturing both your technical abilities and soft skills to become the ideal candidate for finance roles?