Embarking on a career in finance? Equip yourself with vital soft skills like communication and problem-solving, and decide on your specific finance area to navigate your training effectively.

Finance Prerequisites

You might be worried that finance will be too difficult to learn. This guide will help you understand the best methods for learning finance and what you should study first to make the learning process easier. By taking this route, you'll be successful however you choose to apply your new skills. 

Before we dive into possible prerequisites for learning finance, let's take a detailed look at the topic.

What is Finance?

In its most basic definition, finance is the management of money. Finance includes investing, lending, budgeting, borrowing, saving, forecasting, and studying money. There are multiple areas of finance, including personal, corporate, and public finance. 

Personal finance deals with keeping your debt down, budgeting, growing your assets, and increasing cash flow, among others. The three main types of corporate finance are capital budgeting, capital structure, and dividend policy. Among the significant concerns of public finance are the budgeting process and an entity’s revenue source. 

Read more about what finance is and why you should learn it. 

What Can You Do with Finance?

At its root, finance deals with managing money. This includes investing, saving, budgeting, forecasting, borrowing, and lending. Here are three solid career paths to follow with a firm understanding of finance.

• Accountant - This lucrative field is ideal for anyone with a love of numbers, though it is not necessary to be successful. Within a company, an accountant often creates, interprets, and analyzes a wide range of financial statements. Company accountants and management come together as partners to create budgets. Finally, accountants handle the tax matters of a company, including filing returns and planning out tax liabilities.

• Business Development Officer - Companies hire Business Development Officers to develop and execute strategies that lead to increased sales and higher profits. These officers also seek out business opportunities and secure the best business deals. They are responsible for negotiating deals and meeting with potential investors.

• Financial Data Analyst - These professionals analyze data to assist financial institutions in making better business decisions. Among their numerous responsibilities is compiling information from different divisions of a company. These analysts also look for ways to improve the company's current methods of data collection.

Is Finance Easy to Learn

Finance can be reasonably easy to learn with the proper dedication to your coursework. Comprehending the subject becomes even easier if you understand essential aspects of the field. Let's take a look at two of these aspects.

1. Economics - A basic definition of economics is the study of how individuals and groups utilize resources. Of course, money is a primary resource, and this plays into the study of finance. Understanding the essentials of economics positions you to absorb your coursework more efficiently and obtain the information for use in your future career.

2. Investing - Foundational-level investing knowledge will help in your finance studies, though it is not necessary. Within the realm of finance, people invest to produce a return on that investment.

You can touch on several of these skills and others through online finance training offered by Noble Desktop. By completing your training in person in NYC or live online, you can engage with expert instructors, receive answers to your questions in real time, and obtain feedback on your progress.

The Financial Analyst Training Program teaches students basic and intermediate Excel skills, how to review corporate finance and financial accounting concepts, and how to study a public company and build a comprehensive valuation model on the business.

The Financial Modeling Bootcamp teaches finance fundamentals, accounting, and corporate valuation.

Break into the world of finance technology through the FinTech Bootcamp. This bootcamp teaches students the fundamentals of Python and data science. You'll learn data types and data structures and how to use Python to create dashboards and other data visualizations for presentations. Learning about finance technology will look great on your resume and support your career in finance. If you're interested in a data science or financial technology job, this bootcamp is ideal for preparing for entry-level positions. 

For current or aspiring finance professionals, the Python for Finance Bootcamp teaches how to analyze financial data with Python. Students learn numeric data types, sequential types, and how to build a mortgage calculator using Python. 

What to Know Before Learning Finance

When you embark on your journey to learn finance, knowing specific skills, trends, and possible career paths will help you map out the best path.

What Careers Are Available in the Realm of Finance?

Before you decide that learning finance is the right path for you, it's essential to investigate the many career paths that will open up to you and which, if any, are of interest. The following list of finance careers is by no means exhaustive. With a solid understanding of finance, your career options are far-reaching.

1. Financial Advisor - Professionals in this position work with individuals and businesses to advise on their financial planning and investments. They meet with clients to learn about their needs and obtain their financial statements. They develop plans to increase profitability and reduce debt using legislation and financial statements.

2. Hedge Fund Manager - In many ways, Hedge Fund Managers execute similar duties as Investment Bankers. The difference is Hedge Fund Managers work portfolios of higher risk and reward for investors that pool their capital to invest in hedge funds. To protect investors, Hedge Fund Managers keep a close eye on the markets. This means they wake up early and leave the office late, but there is a lot of opportunity to make great money in this position.

3. Financial Analyst - To assist business stakeholders in making informed company finance decisions, a Financial Analyst wades through and analyzes financial data. Financial Analysts work for insurance companies, banks, and funds, among other financial institutions. 

If you wish to become a Financial Analyst, Noble Desktop’s Financial Analyst Training Program is an ideal starting point. Students will learn core Excel skills, advanced Excel skills for financial modeling, and will review corporate finance and accounting concepts.

Remaining Current on Finance Trends

If you enter a career in the field of finance, to realize your full potential, you must keep up with current finance trends. Knowing the current trends during your training will help you in your coursework and add value for the entire class. Keeping up with these trends should be an ongoing habit upon entering the workforce.

One trend we currently see is the rising popularity of personal finance apps. People use these apps to manage their money and use features to invest in stocks and crypto-currencies. The ability to run one's financial world through a smartphone is highly desirable to many people.

At the same time, more people are currently getting their money professionally managed through a Registered Investment Advisor (RIA). An RIA is a firm that provides financial advice and manages investments. These firms, regulated by the Security and Exchange Commission, have a fiduciary duty to those they serve. This means they must put their clients’ best interests before their own.

Skills to Know

Several skills will make your finance learning journey (and beyond) more manageable. Some of these skills you may already possess, while others you can develop quickly. Let's take a look at some of the most beneficial skills to know. 

1. Interpersonal skills - Your ability to work well with others is paramount in the professional workforce. This is especially true in fields where you interact with clients daily, such as accounting. If two equally qualified employees are up for a promotion, having first-rate interpersonal skills gives you a significant advantage.

2. Problem-solving skills - You may come to know finance backward and forward, but you’ll need problem-solving skills to overcome various issues as they arise. The good news is we start forming these skills at an early age. The more you can develop them and apply them to learning finance and your career, the more success you will have. 

3. Communication skills - Strong written and oral communication skills will come in handy during your training. While you learn, continue to sharpen this skillset, as you will need to explain complex financial terminology in ways your clients or employer can understand. In fact, during the interview process, many companies will opt for a candidate with strong communication skills over those unable to simplify complex ideas and financial jargon.

Key Takeaways

• Finance is the management of money. This includes borrowing, saving, forecasting, lending, budgeting, investing, and studying money.

• Knowing finance opens up several job opportunities. Among those are Business Development Officers, Accountants, Financial Advisors, Hedge Fund Managers, and Financial Analysts.

• Remaining current on financial trends during your training and career will give you a leg up on the competition and set you up for success.

• Developing interpersonal skills, problem-solving skills, and communication skills are highly attractive to employers. 

• However you decide to learn finance, placing a finance bootcamp at the top of your list is a great move.

Learn Finance with Hands-on Training at Noble Desktop

Some believe the only way to learn finance, whether for a career or personal benefit, is through a lengthy, time-consuming degree program. Luckily, there are many alternatives. Many people feel the bootcamp or certificate training model is the superior path.

As a premier provider of online education, Noble Desktop provides multiple ways to learn finance. They offer numerous thoughtful educational options to expand your finance skill set quickly, whether you're new to the field, already working in finance, or in a position that requires a deep understanding of it. Here are some of Noble Desktop's most popular programs.

• FinTech Bootcamp - Taught by expert instructors, this extensive FinTech bootcamp is intended for beginners. You can complete this course in four weeks full-time or four months part-time. Among the topics covered are the fundamentals of Python, data structures, and how to use SQL to query databases.

• Python for Finance Bootcamp - This 18-hour detailed Python for Finance Bootcamp is designed for Risk Managers, Financial Analysts, Portfolio Managers, and those seeking a career in finance technology and data analysis. Students will learn the major Python financial libraries, how to analyze financial statements from the SEC website, and how to apply statistical measures.
  
  
• Financial Analyst Training Program - While some knowledge of accounting and finance is helpful for this seven-day Financial Analyst Training Program, it is not necessary nor required. If you're looking to carve out a career path at a top financial firm, this bootcamp is the most effective and affordable course to learn these skills.

Other Noble Desktop courses to consider are the Premiere Pro Bootcamp, Video Editing Certificate, and Premiere Pro classes and bootcamps.