Finance may seem like a cutthroat industry, but caring is crucial on Wall Street. James Runde, a 40-year Morgan Stanley veteran who is the world’s longest-tenured finance employee at a single company, says the ability to read people and understand their feelings is the #1 success factor for finance jobs.
Does your company hire based on personality? For finance jobs, having the right personality key. Here’s a look at the top traits to seek out in your next candidates.
Resilience
As the market goes up and down, the finance industry experiences huge gains and losses. For the humans behind the numbers, this can be an emotionally draining experience. But finance companies don’t want frustrated employees to pass along negativity to their clients.
That’s why resilience - the ability to bounce back - is essential for finance. During the screening process, look for candidates who show evidence of positivity, adaptability, flexibility, and openness to new ideas.
Curiosity
Finance workers deal with complexity in market factors and demands from clients. At times, it can be challenging to identify complicated forces at work - for example, the repercussions of new laws or company policies.
Curiosity is a type of problem-solving trait that helps finance employees investigate complex situations, understand them, and pass this knowledge on to coworkers and clients. Curious people often read books, play games, join clubs, and take adult education courses.
Persistence
Anyone who works in finance must be persistent. A spreadsheet error or system glitch shouldn’t be enough to make them throw up their hands and quit. They must be able to persist through difficult problems and find workable solutions, day after day.
Loyalty
Many top finance companies place a high value on a job candidate’s loyalty to a previous employer. That’s probably because finance is one of the top 5 industries for high turnover. Look for new hires that show loyalty in their job histories.
Integrity and Professionalism
Finance companies must trust their employees with massive amounts of personal information and financial data. It’s vital that new hires have a high degree of integrity and show professionalism at all times.
Personality factors related to professional integrity include a sense of justice, ethics, fairness, and respect. Seek out people who value rules and order within an organization.
Team Spirit
Finance isn’t the right place for people who selfishly seek personal glory. In fact, the financial education company Investopedia lists “the selfish jerk” as one of the top 7 personality types that fail in finance.
Selfish people participate in behaviors that break down teams, like gossiping, mocking, backstabbing, sabotage, one-upmanship, and territorialism. Keep an eye out for good team players who may have a background in things like sports, leadership, and serving as a board member.
Empathy
At times, your clients will experience financial losses or difficult life situations. During these critical moments, finance employees must be able to show empathy and help clients move forward.
In a hiring situation, indicators of empathy include showing active listening skills and asking meaningful follow-up questions. On a resume, you might see volunteer work, membership in community organizations, and hobbies related to animals and nature.
Sense of Humor
Investment bankers aren’t known for their senses of humor, but perhaps they should be. It takes good humor to survive the highs and lows of finance, and it helps to be able to inject a spark of humor into even the darkest moments.
Of course, it’s important that people know the difference between not taking themselves too seriously and not taking the work seriously. Finance employees should have light humor that always stays within the bounds of professionalism.
Wondering how your company can find the right personalities for finance? Connect with GoGig, the innovative personality matching company that’s reshaping hiring around the world.
