Thursday 2nd May 2024

Transferable Skills: The Key To Landing Your Dream Job

Every year millions of people switch their jobs. And almost everyone has to go through the interview stage to get the job. In the interview, there is a common question asked by the employer or interviewer what are your skills? Even many people at some point think before going to either switch jobs or before going to give an interview- do I have the skills for this particular job? Some people are even reluctant to apply for the job by thinking that they do not have particular skills for this job.

On reading this para, you might get surprised that there are many people who get or switch jobs by showcasing transferable skills in their resume. In the competitive job market, it is essential to know about your transferable skills. Transferable skills help you a lot in your changing career and also keep you stand out from the crowd. Skill is of two types: hard skills and soft skills. Hard skills involve specific technical knowledge and training, whereas soft skills involve personality traits.

 

Let’s know everything about transferable skills.

 

What are transferable skills?

 

The word transferable in ‘transferable skills’ clearly suggests that something can be moved or transferred from one place to another. So for transferable skills, skills that a person have can be used regardless of what position or industry you are in. A person can use his/her abilities, knowledge, and training can be applied to different aspects to get a job or build a career. Moreover, it helps job seekers to know more about their strengths and weakness.

Transferable skills come from your past role, experience, responsibilities, involvement, interest, activities, and many more. They are always important for any stage of your career. It tremendously helps you grow within your current job role or work. You can relate your skills with the current post and market yourself as ‘yes, I can do it.’ Thus help you to achieve your dream job.

 

 

Why is it essential to mention transferable skills in your resume?

 

Transferable skills help to boost your resume. By mentioning your transferable skills on your resume, you can increase your value. It is essential for both job seekers and companies. Your skills help to make the recruiter feel that you are the right candidate for the role.

Mention or highlight your transferable skills in your LinkedIn/Job profile, resume, cover letter, website, interview, and any other networking opportunities as much as possible. Never be afraid or hesitate to showcase your acquired skills, experience, and journey throughout your career.

Design your resume by mentioning your transferable skills in bullet points, along with a little description of your past work in the job position. This helps the recruiter to clearly understand your work.

How to identify them?

 

There are no people who don’t have transferable skills. It automatically develops into a human being in various ways. But there are many persons who do not have to identify their transferable skills. Even if they have recognized it, they might have recognized very few skills because transferable skills are usually developed over time. You just need to think broadly about these below-mentioned points to identify your skills.

Knowledge– Give stress on what you really know

Attitude– Think about how you approach things in your life and job career.

Character– Calmly think about your personality

Experience– Think or jot down in points what you have done

Strengths– Realise all those things you are naturally good at

 

Identify yourself based on these points. This is a great way to realize yourself.

Examples of transferable skills

 


  • Communication skills

Communication is a smart skill that every employee should develop. It is essential to exchange information with others. This skill helps you to interact with people or present content on behalf of your team or company.


  • Leadership skills

 

Leadership skills are essential to become a good leader. A person with such skills can lead a team properly to achieve a common goal. It also makes a person more responsible towards their work.

Any person who feels that they don’t have leadership skills and want to grow the skill they can. To inculcate such skill, they can admire their superiors, read books, articles, and other resources, and must do regular practice.

 


  • Problem-solving

 

Problems are always unpredictable, so you have to encounter them at any time. Every job has its own set of issues or problems, and your capability to solve them will help you realize whether you succeed or fail in it.

 


  • Critical thinking

 

Critical thinking is the ability to assess and analyze the information to give the right judgement. People with critical thinking skills can think more deeply about an issue than others.

 


  • Management

 

Management is the ability to manage things effectively. They can properly handle people and work simultaneously. A manager with good management skills can supervise, direct and discuss with the team to make the project successful.

 


  • Creative thinking

 

Creative thinking is the skill to think out of the box. They are able to create things as well as find effective solutions or ways to do things better. In every workplace, creative innovation is highly valued.

 


  • Planning

 

If you have good planning ability, you must mention it in your resume. Proper planning is highly required to make progress in the work.

 


  • Decision making

No matter the job, decision-making skills are always essential. Even to choose the right path or right thing for your career and life, you need this skill. With the correct decision, one can grow in life and career.

 


  • Adaptability

 

Whenever you are switching to any new join, you always get a new environment and new employees. Many people take a long time to adapt to the new environment, which is not good in the workplace because it hampers the work. So as an employee, one should quickly adapt to the changing environment to encourage mutual learning. In addition, it helps to maintain a positive mindset for the work.

Bottom Line

 

Apart from the above-mentioned skills, an individual can have any other transferable skills. So whatever the essential or beneficial skills he/she has, must mention it in the resume. You should always showcase your skills. It will really help you a lot.

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Interested In Finance? 10 Great Careers For You

Finance is a vast and ever-growing field. There are perhaps any end areas of the finance industry. Every year this field offers new job opportunities. So earning a finance degree can give you many new career opportunities.

Finance is a broad term that refers to money management, including investment, budgeting, borrowing, saving, lending, and many more. It is not about one specific job. There are different roles and careers. One can choose based on interest, ambition, and personality.

Here in this article, we have mentioned different careers and jobs one can do after pursuing a finance degree.

 

Finance degree programmes

  • Bachelor of Commerce (BCom)
  • BCom Accounting and Finance
  • Bachelor of Finance
  • Bachelor of Business Administration (BBA)
  • Bachelor of Science (BSc)
  • Master of Commerce (MCom)
  • Master of Business Administration (MBA)
  • MBA in Finance
  • Master of Science (MSc)
  • Doctorate degree in finance

List of careers in finance


  1. Accountants

Accountants create, examine, interpret, analyze, organize, and maintain various financial records to prepare financial statements for the organization or company. They find possible ways to reduce costs or increase profits. They also give advice on business decisions. They check and maintain the company’s financial health.

Candidates have to earn at least a bachelor’s degree in finance to be eligible for this job. In India, the average salary is between 6-10 lakhs PA depending on the skills and experience.


  1. Auditors

An auditor mainly reviews and verifies the business records or accountant’s work. They ensure compliance with tax laws. They are also employed by the government and regulatory bodies. With a bachelor’s degree in finance, one can become an auditor.


  1. Financial Analyst

 

Financial Analysts research and interpret the financial statements and then predict the company’s/client’s future financial performance. They analyze and compare the current situation with the historical financial data and, based on the finding, create a report to help the company. Candidates can pursue a bachelor’s degree in any one of the disciplines, ie. Accounting, economics, finance, statistics, or business. In India, the average salary is between 5-10 lakhs PA.

 


  1. Budget Analyst

 

Budget analysts are also sometimes known as cost analysts. They look after the company’s big budget and decide the ways to manage the money efficiently. They also estimate future budgetary needs, involved in policy-making, appraisals, and others related to budgeting. A bachelor’s degree in accounting or similar field is required to become a budget analyst. But there are some companies who prefer candidates with an MBA. In India, the average salary is between 6.5-22.5 lakhs PA.

 


  1. Actuary

 

In the financial sector, actuaries are very much skilled professionals. They analyze financial risk and uncertainty. Using their financial and mathematical skills, they predict future events and help businesses to minimize the cost of risk. They mostly work in banking, insurance, and accounting. Candidates having a bachelor’s degree in finance or finance-related field can do this job. In India, the average salary is between 4-11 lakhs PA.

 


  1. Chief Financial Officer

Chief Financial Officer (CFO) is the head of the company in regard to their finances. They work with top-level management. They track all financial activities of the company and supervise the accounting team members. They play an important role in the company’s new decisions and also give advice associated with finance. A Master’s degree is preferable, but experience is essential. In India, the average salary is between 15-25 lakhs PA.

 


  1. Insurance and Claims Officer

 

Unusually company’s insurance department, insurance agency, or finance agency employs an insurance and claims Officer. They have to perform multi-tasks, such as supervising or doing ground-level operations, and check out whether the claims are valid or not. They also have to train and guide the insurance agent so that they can deal better with the customers. In India, their average salary is between 3-5 lakhs PA.

 


  1. Finance Professors/ Scholars

 

There is a huge demand for teachers and professors in this field.

To become a professor or teacher of business, commerce, or finance, they need to pursue various degrees. Undergraduate, postgraduate, and PhD degrees are essential according to being a teacher or professor. In India, their average salary is between 8-20 lakhs PA.

 


  1. Risk Analyst

 

Risk Analysts mainly analyze and interpret the potential risk zone and can be a threat to the company’s earning capacity, ultimate goals, asset management, existing investments, and others. By using their strong quantitative and qualitative skills, they detect potential problems and minimize the risk. Risk analysts are highly required in investment banks and firms, insurance companies, mortgage, marketing, sales, and financial services. In India, their average salary is between 7-10 lakhs PA.

 


  1. Investment Banker

 

Investment Banker’s prime work is to raise money or fund for the operations of a company and government. They do not deal directly with the investors to raise money. Rather, they raise money from the capital markets, i.e., through bonds, stocks, mergers and acquisitions, public offerings, venture capitalism, and other methods. They have to deal with huge financial transactions. MBA OR Master in Finance is prioritized for this job. In India, their average salary is approximately 8 lakhs PA.

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