This article contains information about the best-paying jobs in finance consumer services and more.
Finance consumer services are important to a country’s economy, and they also provide essential services to consumers. If you are searching for a job that is rewarding financially, you should consider finance consumer services jobs.
Generally, there are several branches of finance consumer services. However, there are also the most popular branches of finance consumer services. Personal financial planning, insurance, accounting, and investment banking are some of the most popular branches of finance consumer services.
Every area has its specific responsibility as well as compensation packages. If you have been searching for the best paying jobs in finance and consumer services, check out our list to find out the job positions with good paychecks.
In this guide, we have listed the best paying jobs in finance and consumer services and the standard qualification to get these jobs.
The Role of Finance Consumer Services.
Finance consumer services are essential to the global economy. With the help of finance consumer services, people understand why it’s important to save money.
Finance consumer services also help families save for the future and ensure they make the right choices financially.
Generally, there are several types of finance consumer services jobs out there. Although the jobs are different, the goal is to improve the financial status of their clients.
Let’s look at financial planners for instance. Financial planners are more concerned about their client’s financial plans. They assist their clients in setting their financial targets and also develop a plan to ensure their clients succeed.
There are also investment bankers who usually provide analysis and financial advice on investments to clients. When clients want to choose the best coverage for their needs, they rely on insurance agents for assistance.
There are different types of finance consumer services jobs available and there are also few qualifications required. If you are interested in a specific job, know that you must possess the right skills and knowledge to succeed.
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What are the skills required in finance consumer services jobs?
Firstly, you must have strong analytical and math skills. Working in the finance industry involves numbers and financial reports. Since you will be working with numbers and financial reports daily, you should be good at calculations and understanding financial concepts.
Besides having strong analytical and math skills, what you also need is good communication skills. You will be working for different clients, so you must have these skills.
The job requires presentations as well as interaction with clients, so you are expected to have good communication skills. You also need to possess the skill to explain complex financial concepts in plain language to clients.
Finance consumer services jobs also require composure. You must be detail-oriented, calm, and organized to work comfortably. Possessing these skills is important for you as a worker and client.
We are still on the subject of “the best-paying jobs in finance consumer services”. Here, we want to look at the academic requirements to get these jobs.
Common Education Requirement
Finance consumer services provide job opportunities with good paychecks. However, there is an education requirement for finance consumer services jobs. So what is the most common educational requirement for finance consumer services jobs?
The most common educational requirement for finance consumer services is a bachelor’s degree. But a bachelor’s degree in what field of study?
Since we are discussing finance consumer services jobs, the bachelor’s degree required will be in business, economics or accounting.
If you want a job, you should have a bachelor’s degree in business or economics. Employers prefer job seekers with bachelor’s degrees in business, economics or a related field.
Don’t have a college degree, don’t worry, some jobs require a high school diploma.
If you have a college degree, you may need to obtain licenses or certifications, based on the type of job you want.
If you want to become a financial planner, you must obtain a Certified Financial Planner (CFP) designation from the Certified Financial Planner Board of Standards.
Investment bankers need to pass the Series 79 and Series 63 examinations, while insurance agents must pass state-specific exams to sell insurance products.
The Branches of Financial Consumer Services
Finance consumer services is a developing industry with several job opportunities. We have already mentioned some of the most popular branches in finance consumer services.
The most popular branches of finance consumer services include;
Personal Financial Planning
Personal financial planners assist clients in setting a financial goal and also ensure the aim is achieved.
Financial planners are more concerned about their client’s financial plans. They assist their clients in setting their financial targets and also develop a plan to ensure their clients succeed.
Investment Banking
Investment bankers are experts who usually provide analysis and advice on investment. They work closely with several clients to identify opportunities.
They also guide on financial planning and make recommendations as well.
Insurance
Insurance agents assist clients in choosing the best insurance coverage for their needs. They evaluate a client’s risk factors and then recommend protective policies to follow.
Accounting
Accountants are in charge of financial records and they also prepare tax returns. Generally, accountants work with businesses, individuals, organizations, firms, etc.
Lending
When you need a loan, lenders are always there to assist you. Lenders make loans available for individuals and businesses. If you want a loan, lenders will assess your creditworthiness.
Financial Analysis
Financial analysts are experts who provide financial advice on investments, economic trends and markets. They usually use financial data to identify opportunities and then make recommendations to their clients.
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Best Paying Jobs in Finance Consumer Services
We have listed the best paying jobs in finance and consumer services and the average annual salary for these jobs. Check out our list of best paying jobs in finance and consumer services.
#1. Investment Banker
Investment bankers are financial advisors who assist clients. They assist clients in raising capital by issuing and selling securities.
In general, investment bankers work with banks and other independent firms. Investment bankers work closely with clients to identify financial opportunities and provide guidance on planning.
To become an investment banker, you must have a bachelor’s degree in business, economics or related fields. Bear in mind that you must also pass the Series 79 and Series 63 exams, which are administered by the Financial Industry Regulatory Authority (FINRA).
So with all these qualifications and requirements, what is the average annual salary of an investment banker?
According to the U.S. Bureau of Labour Statistics, an investment banker earns an annual salary of $62,910. Investment banking is one of the best paying jobs in finance and consumer services.
#2. Financial Analyst
A financial analyst is an expert who provides financial advice on investment and economic trends.
Financial analysts work for several financial institutions. They work for banks, investment firms and insurance companies. Financial analysts use data to identify financial opportunities and also assist clients in making financial decisions.
A financial analyst search and find trends in the market and then recommend investments. Financial analysts do a lot of research and financial analysis.
So what is the academic requirement to become a financial analyst?
To become a financial analyst, you need a bachelor’s degree in business, economics or related fields. Most employers prefer job applicants with a master’s degree or PhD.
A financial analyst earns an annual salary of $81,410 according to the U.S Bureau of Labour Statistics.
#3. Personal Financial Advisor
Next on our list of best paying jobs in finance consumer services jobs is the personal financial advisor.
Personal financial advisors are professionals who guide clients on how to manage funds. Just like financial analysts, personal financial advisors also work for banks, insurance companies, and investment firms.
Their job also includes assessing a client’s risk factors and recommending protective policies. The job requires a deep understanding of financial products and regulations.
As a personal financial advisor, you need to establish a relationship with your clients and also communicate with them.
If you want to become a personal financial advisor, you must have a bachelor’s degree. Most employers will offer jobs to applicants with master’s degrees.
This is one of the best paying jobs in finance consumer services and according to the U.S Bureau of Labour Statistics, a personal financial advisor earns an average salary of $94,170.
#4. Insurance Advisor
An insurance advisor is an expert who assists clients in choosing the right insurance policies.
Insurance advisors sell different types of insurance. They sell life, auto, and health insurance. They work for insurance companies, investment firms, and banks.
As an insurance advisor, you need to understand the product you sell as well as the regulations surrounding the product. The job also requires a strong relationship and communication with clients.
If you want to become an insurance advisor, you can take courses in communication and psychology as a bachelor’s degree is not necessarily required.
An insurance advisor earns an annual of $60,761.
#5. Stockbroker
Stockbrokers are experts who purchase and sell stocks on a client’s behalf. Just like financial analysts and personal financial advisors, stockbrokers work for banks and investment firms.
A stockbroker needs to understand the stock market to succeed. Building relationships and communication with clients is also important for stockbrokers.
Stockbrokers need to have a deep understanding of how the stock market works before advising clients on what to buy and sell.
As a stockbroker, the more money you earn with your skill, the more your paycheck increases.
#6. Accountant
Accountants are in charge of financial records and they also prepare tax returns. Generally, accountants work with businesses, individuals, organizations, firms, etc.
Personal and corporate accountants are the two main types of accountants. Personal accountants are those who work with individuals, while corporate accountants work for businesses.
The annual salary of an account in the United States is about $60,000.
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#7. Loan Officer
Loan officers assist individuals to get loans from banks and other financial institutions. They work for banks, credit unions, and fintech companies.
A loan officer needs to have a deep understanding of the types of loans available in banks and the eligibility requirements for each loan.
The job also requires communication skills with potential clients.
If you want to become a loan officer, you must have a bachelor’s degree in finance.
The median salary for a loan officer is approximately $63,000 a year.
#8. Compliance Officer
The job of a compliance officer is to ensure that firms comply with external regulatory standards and internal regulations. Compliance officers closely monitor their employers to make sure they follow company policy.
As a compliance officer, you can advance your career to a chief compliance officer. The average annual salary for a chief compliance officer is $121,698.
#9. Implementation Specialist
Next on our list of best paying jobs in finance consumer services is an implementation specialist.
Implementation specialists are experts who assist clients with products and services just after a sale is completed. Besides assisting customers with goods and services, implementation specialists ensure that the product purchased by the customer satisfies their technical requirements.
The job of an implementation specialist also includes working closely with clients to make customization in the software. An implementation specialist also helps customers with software installation.
The average salary of implementation specialists is about $65,000 a year.
#10. Technical Support Engineer
Technical Support Engineer completes our list of best paying jobs in finance consumer services.
A technical support engineer must have excellent interpersonal communication skills and patience. Although the job requires excellent communication skills, technical support engineers must also know the specific details of the programs they support.
To become a technical support engineer, you must have a bachelor’s degree in computer science, robotics, or another technology-related field.
The average annual salary of a technical support engineer is about $81,000.
Conclusion
Presently, people are looking for ways to invest and save money for the future. Finance consumer services is a vast sector with several job opportunities. There are jobs available in finance and consumer services and the best paying jobs require a standard academic qualification.
This should not discourage you from exploring all your options. We hope this article on the best paying jobs in finance consumer services was helpful.
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