A career in finance is still an appealing option for many professionals. It offers an opportunity to work in a rapidly evolving, dynamic landscape with various progression paths.
Today, a career in finance means adapting to huge levels of technological disruption (the rise of AI and automation), ever-more complex regulatory compliance standards, and increasing employer demands. On top of that, there’s the impact of continuous economic uncertainty to consider – which is currently driving redundancies and issues with job stability worldwide.
Unsurprisingly, around half of the financial professionals in a 2023 study expressed their intention to change roles soon. The good news is that the skills and competencies professionals gain in financial roles equip them for economic success and prepare them to excel in various other sectors, including manufacturing and engineering. This adaptability is a testament to the strength of the finance profession.
In particular, the manufacturing and engineering sectors present compelling opportunities for finance employees ready to pivot. Not only are skill shortages high in this sector, but roles often demand skills in areas that finance employees excel in – like data analytics.
As a finance candidate, here’s your guide to planning a successful transition into the manufacturing and engineering sector.
Understanding the Manufacturing and Engineering Landscape
In 2025, the manufacturing and engineering sectors will evolve like the finance industry. These sectors are embracing new technologies, like AI and automation, and finance-focused roles will become more diverse.
Many companies are beginning to search for employees with financial skills to help them with everything from real-time data analysis tasks to planning budgets for complex global markets and even guiding ESG initiatives. There are great opportunities for finance professionals in these sectors.
That’s particularly true now, as a study by the ECITB found that about 20% of the UK manufacturing workforce is set to retire in 2026, leading to numerous open roles. This presents a promising opportunity for finance professionals transitioning into these sectors.
However, it’s worth remembering that finance roles in the manufacturing and engineering sectors aren’t the same as those you’ll find elsewhere.
You’ll need a deeper understanding of production processes, supply chain logistics, and capital-intensive project management to excel in this industry. Many finance professionals in these spaces don’t just deal with financial reporting. They also play a role in operational decision-making, cost optimisation, and investment in new technologies.
The good news is that finance professionals can substantially impact the businesses they serve in the manufacturing and engineering sectors. Their expertise can help these businesses migrate away from legacy systems, embrace digital transformation, reduce carbon emissions, and improve relationships with stakeholders, making them an integral and valued part of the industry.
Specialists with advanced skill sets, strong digital literacy, and the ability to adapt quickly to changing industry priorities could negotiate higher salaries and stronger benefits than those in traditional finance roles.
Required Skills and Competencies for a Career Transition
Many technical and soft skills a financial professional earns are “transferrable” to the manufacturing and engineering sectors. Roles in both arenas require strong mathematical and data analysis skills and soft skills like collaborating effectively with others and solving problems creatively.
However, you must be prepared to update your skill sets to the specific needs of the industry you’ll serve. If you identify any gaps in your skills or experience, consider taking additional courses or certifications to bridge these gaps.
Technical Finance Skills Crucial for Manufacturing and Engineering
Your experience with financial analysis, budgeting, and forecasting will likely give you a good foundation of skills for various roles in manufacturing and engineering. Financial modelling and data analysis skills are particularly valuable, as these sectors often rely on data-driven decisions.
However, you’ll also need to familiarise yourself with:
- New technologies: Familiarity with Enterprise Resource Planning (ERP) systems, such as SAP or Oracle, could be extremely valuable, given their widespread use in managing manufacturing and engineering operations.
- Cost Accounting and Manufacturing Cost Structures: It will be crucial to grasp the nuances of cost accounting, including variable and fixed costs, overhead allocation, and standard costing. This knowledge enables accurate product costing and profitability analysis.
- Capital Expenditure Analysis for Equipment and Technology: Manufacturing and engineering firms often require significant investments in equipment and technology. Skills in evaluating capital projects, conducting cost-benefit analyses, and understanding depreciation methods will make you a more valuable employee.
- Project Finance for Engineering Projects: Projects can be capital-intensive and span extended periods. Knowledge of project financing, including cash flow analysis, risk assessment, and funding strategies, ensures projects are financially viable and sustainable.
- Understanding Production Cycles and Their Financial Implications: Comprehending the stages of production cycles helps in forecasting expenses and revenues, managing working capital, and identifying cost-saving opportunities.
Soft Skills for Success in Engineering and Manufacturing
Soft skills are still crucial in manufacturing and engineering roles. Again, you should already have some key skills you need – to develop throughout your finance roles. But if you’re planning on transitioning to a new sector, it’s worth fine-tuning skills in:
- Cross-functional collaboration: Effectively working with diverse teams of engineers and managers requires strong interpersonal skills. Ensure you’re prepared to communicate and collaborate cohesively with employees from different backgrounds.
- Communication Skills: You must communicate clearly with remote, hybrid, and in-office staff members through various channels. Ensure you can translate technical concepts into non-technical language for colleagues.
- Problem-Solving in Production Environments: Manufacturing settings often present unique challenges. A proactive approach to identifying issues, analysing root causes, and implementing effective solutions is essential for maintaining operational efficiency.
The Transition Process
Beginning a career transition from finance to a manufacturing or engineering role is about more than just refining or gaining new skills. You’ll need to think carefully about what you want from your new role, ensure you choose the ideal position for your needs, and even adapt your approach to sending out CVs or preparing for interviews. This might involve highlighting your transferable skills on your CV or preparing for interview questions that relate to your understanding of the manufacturing and engineering sectors.
Here are some quick steps for success:
Step 1: Potential Employers in Manufacturing and Engineering
First, start by identifying companies that align with your priorities and career goals. Don’t just focus on companies offering the best salaries or benefits. Consider their culture – is it diverse, inclusive, equitable, or focused on ensuring a strong work-life balance? For instance, companies like [Company A], [Company B], and [Company C] are known for their commitment to diversity and inclusion in the manufacturing and engineering sectors. These could be great places to start your job search.
Examine the progression opportunities available in the roles you’re considering and how much you’ll be able to take advantage of learning and development assets. Use industry-specific job boards, professional associations, and company websites to gather information about potential employers. The more insights you can gain, the better.
Step 2: Work With a Specialised Recruiter
Working with a specialised recruitment agency can significantly streamline your transition from finance to manufacturing or engineering. Recruiters with expertise in these sectors possess invaluable industry knowledge, understand the specific skills employers are seeking, and maintain established relationships with key hiring organisations.
They can identify opportunities that match your unique financial background and career aspirations, many of which may not be advertised publicly on traditional job boards or company websites.
A good recruiter will take time to understand your transferable skills and help position them effectively for manufacturing roles. They’ll review your CV expertly, suggesting critical modifications highlighting relevant experience for your target sector. Throughout the application process, they act as your advocate, emphasising your value to potential employers who might otherwise overlook candidates outside the industry.
Recruiters can provide expert guidance on realistic salary expectations in your new sector, preventing you from underselling yourself or pricing yourself out of consideration.
They offer crucial interview preparation specific to manufacturing environments, including insights on company culture, typical technical questions, and the challenges faced by the organisation you’re meeting. Additionally, they can negotiate compensation packages on your behalf, often securing better terms than you might achieve independently.
Perhaps most importantly, recruiters can connect you directly with decision-makers, bypassing lengthy application processes and significantly reducing your transition timeline. Step 3: Address Technical Skill and Knowledge Gaps
Moving from a traditional finance role to a finance-related role in manufacturing or engineering might require you to develop new skills. Conduct a personal skills analysis, then compare your competencies to those needed for your desired role.
Look at diverse ways to develop new skills, like taking online workshops or courses or working with a mentor. You could also consider acquiring specialist certifications that appeal to employers, like the “CMA” certification for those searching for accounting specialists. Practical experiences like internships or project collaborations can also help you gain hands-on exposure to industry-specific challenges.
Step 3: Adapting Your CV and Cover Letter
CVs and cover letters shouldn’t be one-size-fits-all documents. You need to ensure that these materials highlight your potential for roles in manufacturing and engineering. Update your resume, cover letter, and LinkedIn profile to emphasise transferrable skills, like financial analysis or strategic planning.
In your cover letter, articulate your motivation for the career change and how your background equips you for the new role. For example, if you’ve managed financial operations in a production-oriented company, show how this experience aligns with the responsibilities of the position you’re applying for.
Step 4: Prepare for Technical Interviews
Preparing for interviews as you move into a new role in manufacturing or engineering means anticipating both technical and general competency-based questions. Familiarise yourself with employers’ questions about cost control or financial forecasting.
Engage in mock interviews with mentors or peers to refine your responses and build confidence. Additionally, staying informed about current trends and challenges in the manufacturing and engineering sectors will enable you to engage thoughtfully during discussions.
Overcoming Common Transition Challenges
Transitioning from a traditional finance role to a position in the manufacturing and engineering sectors can be rewarding, but it still comes with challenges. Make sure you’re prepared to tackle issues like:
- Imposter Syndrome: Questioning your competence when entering a new field is natural. Recognising that these feelings are widespread is the first step toward overcoming them. Reframing failure as a learning opportunity is a good first step toward adapting your mindset, and building a support network will help you stay resilient.
- Fast learning requirements: Immersing yourself in the industry’s core operations is crucial. To gain practical insights, engage in hands-on experiences, such as shadowing engineering teams or participating in workshops. Try pursuing certifications relevant to manufacturing finance or engineering-related analytics.
- Building relationships: Manufacturing environments often have distinct cultures emphasising efficiency, safety, and continuous improvement. Observing and adapting to these cultural norms is essential. Participate in team-building activities and be open to feedback so you can grow rapidly over time.
Remember, transitioning between industries can sometimes involve a steep learning curve, so set realistic goals for yourself and be patient with the process. Celebrate your wins and victories, and don’t allow setbacks to derail your progress.
Your Path to a Rewarding Finance Career in Manufacturing
Transitioning into the manufacturing and engineering sectors as a finance professional could be a great way to unlock exciting new opportunities in your career. Although moving into a new industry can make anyone anxious, the right approach to overcoming skill gaps and planning your transition should help you manage the migration effectively.
Remember, a finance recruitment company can also help, giving you the guidance you need to seek new opportunities and develop skills. Don’t be afraid to seek help as you transition to a new industry.
Thanks
Rachel
About Rebus Financial Recruitment
Rebus Financial Recruitment provides a specialist and focused recruitment service to its customers, ranging from various organisations, including SMEs, to large PLCs.
We strive to offer both the client and candidate a seamless recruitment experience. Using our expertise, we understand and match employer and employee needs perfectly.
To learn more, contact one of our team members today or call us at 01282 930930.
