The best investment companies need their top level employees to be at the forefront of the financial world, with exemplary economic knowledge, awareness of risks and regulations, a strong network of appropriate contacts, and admirable leaderships skills.
The world of investments moves quickly and is so complex that employers need to ensure their senior staff members can lead their teams sufficiently. Encouraging their staff members to study for MBAs can help aid this.
We’ve looked at the five key skills a professional can gain from an MBA in financial services, so that they can then take the next step in their career and help grow their company.
Communication and leadership skills
Skills in written and verbal communication are expected in management positions in the investment industry, but many managers lack the knowledge or practice required to take these skills to the next level. In senior management, communication needs to be perfect – there is no room for error.
The ability to understand and relay complex business language is a skill all MBA graduates learn. The financial world comes with its own jargon, and the ability to express ideas clearly (using business language) is ideal in a senior investment role.
Preparation for a range of business roles
An MBA in financial services prepares professionals for many different aspects of the financial services industry, and modules have been specifically selected to prepare people for a range of business scenarios they will face.
This includes how to deal with risks, regulations, mergers and acquisitions, and failure-avoidance. These are all issues senior managers in the investment industry will have to deal with day to day, and a bank of knowledge on how to deal appropriately and professionally is a skill that cannot be underestimated.
A great network of business contacts
Not a skill per se, but a professional who is studying for an MBA will interact and network with a large number of peers, leading industry experts, and other professionals. So, not only will professionals be exposed to a wide range of relevant connections, but they will also learn how to leverage the right contacts appropriately.
The types of relationships forged on MBA courses can make a massive difference to your business. From new clients to potential partnerships, having the right contacts and knowing how to use them is one of the best things a professional can gain from an MBA.
Strategic thinking and planning skills
MBA graduates are well known to be critical thinkers who take a strategic view of things. Studying for an MBA will help professionals to always be looking at the ‘bigger picture’. While studying, they will learn how to consider how their actions could determine different outcomes for the company, and how to plan for each of them.
They will also be able to see the future of the organisation and how it’s going to get there, while factoring industry competitors and volatile market conditions.
When hiring for a senior management role in the investment industry, you should never underestimate the importance of ‘soft’ skills. These interpersonal skills are an essential for anyone in a leadership role, because they need to know how to inspire a large variety of people – including clients, peers, or their teams.
While studying for an MBA, professionals will learn the importance of interpersonal skills, and will be able to perfect them in the many networking opportunities they are presented with throughout their course.
How can investment businesses support their staff through an MBA?
As you can see, an MBA is a great way of encouraging your staff members to take their career – and your business – to the next level. There are many ways you can support them through this, from funding their study to supporting them through exams.
Download our guide on why your business should put employees through an MBA clearly outlines the benefits to the business and employees the programme will have in the long term by leveraging the skills gained to grow the business exponentially.
Or take a look at our business hub for more information, including how Magensium Elektron help funded some of their employees through our Corporate Sponsorship Scheme.
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