Do you have an interest in pursuing a career in finance consumer services? Finance consumer services have a vast field with diverse job opportunities. In this article, we’ll take a look at the different jobs available in finance consumer services and provide insights on the current job market, average salaries, required qualifications, and job responsibilities.
The finance industry is a vast and dynamic field that offers a wide range of job opportunities for individuals interested in financial consumer services. From financial planning to risk management, there are various career paths to choose from.
What is a Finance Consumer Services job?
Finance Consumer Services jobs are careers in the financial industry that involve working with individual consumers or businesses to provide financial products and services.
These jobs can include financial planning, investment advice, loan origination, insurance sales, and other related services that help individuals and businesses manage their finances. These jobs often require strong communication skills and a deep understanding of financial products and services.
Top 9 Jobs in Finance Consumer Services
If you are considering a career in finance consumer services, here are some of the top job titles in this industry:
- Financial Advisor
- Financial Analyst
- Loan Officer
- Underwriter
- Accountant
- Risk Manager
- Insurance Agent
- Investment Banker
- Financial Planner
Financial Advisor Job
A professional who helps individuals or companies manage their finances and investments, providing advice on retirement planning, estate planning, tax management, and risk management ia called a Financial Advisor.
Number of Jobs Available: According to the Bureau of Labor Statistics, there were 249,400 financial advisor jobs Available in Finance Consumer Services in the US in 2023.
Average Salary: The median annual salary for financial advisors was $89,160 in 2023.
Required Qualifications: Financial advisors typically need a bachelor’s degree in finance, accounting, economics, or a related field. They must also be licensed by the Financial Industry Regulatory Authority (FINRA) to sell securities.
Job Roles: Financial advisors work with clients to develop financial plans that meet their goals and objectives. They provide advice on investment opportunities, retirement planning, tax strategies, and more. They also monitor and adjust clients’ investment portfolios as needed.
Available Vacancies: Financial advisor jobs are available at banks, investment firms, insurance companies, and other financial institutions. Many financial advisors also work independently or for small advisory firms.
To Apply click here – Financial Advisor jobs
Financial Analyst Job
A professional who analyzes financial data and provides recommendations for investment decisions, mergers, and acquisitions, or other financial transactions is called a Financial Analyst.
Number of Jobs Available: According to the Bureau of Labor Statistics, there were 329,500 financial analyst jobs Available in Finance Consumer Services in the US in 2023.
Average Salary: The median annual salary for financial analysts was $83,660 in 2023.
Required Qualifications: Financial analysts typically need a bachelor’s degree in finance, accounting, economics, or a related field. Some employers need a master’s degree also. Professional certifications such as the Chartered Financial Analyst (CFA) designation can also be beneficial.
Job Roles: Financial analysts help businesses and individuals make investment decisions by analyzing financial data and market trends. They evaluate stocks, bonds, and other securities and make recommendations based on their findings. They also prepare financial reports and forecasts.
Available Vacancies: Financial analyst jobs are available at banks, investment firms, insurance companies, and other financial institutions. Many financial analysts also work for consulting firms or corporations.
To Apply click here – Financial Analyst jobs
Loan Officer Job
A professional who evaluates loan applications and determines the creditworthiness of borrowers, recommending loan approval or denial based on the applicant’s financial status and credit history is called a Loan Officer.
Number of Jobs Available: According to the Bureau of Labor Statistics, there were 316,200 loan officer jobs Available in Finance Consumer Services in the US in 2023.
Average Salary: The median annual salary for loan officers was $63,960 in 2023.
Required Qualifications: Loan officers typically need a bachelor’s degree in finance, economics, or a related field. They must also be licensed by the Nationwide Mortgage Licensing System and Registry (NMLS).
Job Roles: Loan officers assess loan applications to determine their approval or denial. They also work with clients to determine the best loan products for their needs and assist with the application process. They work for credit unions, banks, and in financial institutions.
Available Vacancies: Loan officer jobs are available at banks, credit unions, and other financial institutions.
To Apply click here: Loan Officer jobs
Underwriter Job
A professional who evaluates and determines the risk level of insurance policies, investments, or loans and decides whether to approve or deny them is called an underwriter.
Number of Jobs Available: According to the Bureau of Labor Statistics, there were 132,800 underwriter jobs Available in Finance Consumer Services in the US in 2023.
Average Salary: The median annual salary for underwriters was $76,550 in May 2023.
Required Qualifications: Underwriters typically need a bachelor’s degree in finance, economics, or a related field. They also need to be skilled in data analysis and risk assessment.
Job Roles: Underwriters evaluate insurance applications and determine whether to approve or deny coverage. They also set premiums and coverage amounts based on their risk assessments. They may work for insurance companies or other financial institutions.
Available Vacancies: Underwriter jobs are available at insurance companies, banks, and other financial institutions.
To Apply click here: Underwriter jobs
Apply for commercial banks jobs-(17k jobs are available): Apply now
Accountant Job
A professional who prepares and analyzes financial records and statements, ensuring accuracy and compliance with accounting standards and regulations is called an Accountant.
How many jobs are available: According to the Bureau of Labor Statistics, there were approximately 1.5 million accountant and auditor jobs Available in Finance Consumer Services in the United States in 2023.
Average salary: As of 2023, the Bureau of Labor Statistics reported a median annual salary of $73,560 for accountants and auditors.
Required qualification: An accountant must have a bachelor’s degree in accounting or a related field. Additionally, accountants may need a CPA (Certified Public Accountant) license to perform specific tasks.
Job role: Accountants are responsible for managing financial records and ensuring that financial statements are accurate and compliant with regulations. They may also provide financial advice to organizations or individuals.
Where is the vacancy available: Accountants may find job opportunities in various industries, including finance, government, and non-profit organizations.
To Apply click here: Accountant jobs
Risk Manager Job
A professional who identifies assesses, and manages risks to a business or organization, implementing strategies to mitigate or avoid potential losses are called Risk Manager.
How many jobs are available: According to the Bureau of Labor Statistics, there were approximately 75,000 risk management specialist jobs Available in Finance Consumer Services in the United States in 2023.
Average salary: The median annual salary for risk management specialists was $74,590 in 2023, according to the Bureau of Labor Statistics.
Required qualification: A risk manager typically needs a bachelor’s degree in a relevant field, such as finance or business administration. Additionally, professional certification may be required.
Job role: Risk managers are responsible for identifying and assessing potential risks impacting an organization’s operations, finances, or reputation. They develop strategies to mitigate these risks and monitor the effectiveness of risk management processes.
Where is the vacancy available: Risk managers may find job opportunities in various industries, including insurance, finance, and healthcare.
To Apply click here: Risk Manager jobs
Insurance Agent Job
A professional who sells insurance policies to individuals or companies, assessing the client’s insurance needs and recommending appropriate policies is called an insurance agent.
How many jobs are available: According to the Bureau of Labor Statistics, there were approximately 422,000 insurance sales agent jobs Available in Finance Consumer Services in the United States in 2023.
Average salary: The median annual salary for insurance sales agents was $52,180 in 2023, according to the Bureau of Labor Statistics.
Required qualification: A high school diploma or equivalent is typically required to become an insurance agent.
Job role: Insurance agents sell insurance policies to individuals and businesses. They may advise on coverage options and help clients navigate the claims process.
Where is the vacancy available: Insurance agents may find job opportunities at insurance companies or agencies.
To Apply click here: insurance agent jobs
Investment Banker Job
A professional who provides financial advice and services to corporations, governments, and other organizations, helping them raise capital, acquire or sell companies, or issue securities is called a Investment Banker.
How many jobs are available: According to the Bureau of Labor Statistics, there were approximately 85,000 financial analyst and advisor jobs Available in Finance Consumer Services in the United States in 2023, which includes investment bankers.
Average salary: According to the Bureau of Labor Statistics, the median annual salary for financial analysts and advisors was $81,590 in 2023.
Required qualification: Investment bankers typically need a bachelor’s degree in finance, economics, or a related field. Additional certifications, such as the Chartered Financial Analyst (CFA) designation, may also be required.
Job role: Investment bankers provide financial advice and assistance to corporations and governments in various areas, such as mergers and acquisitions, fundraising, and financial restructuring.
Where is the vacancy available: Investment bankers may find job opportunities at investment banks, commercial banks, or other financial institutions.
To Apply click here: Investment Banker jobs
Financial Planner Job
Financial planners help individuals and businesses manage and achieve their financial goals. They provide financial advice and guidance to clients on investments, retirement planning, tax planning, estate planning, and risk management.
Number of jobs available: According to the Bureau of Labor Statistics, there were 354,100 personal financial advisor jobs Available in Finance Consumer Services in the United States in 2023. This number is expected to grow by 4% from 2023 to 2030.
Average salary: According to the Bureau of Labor Statistics, the average annual salary for financial planners in the United States is $89,160.
Required qualifications: A bachelor’s degree in finance, economics, accounting, or a related field is typically needed for a career as a financial planner. Financial planners must also be licensed and registered with their state regulatory authority. Employers may also require or prefer professional certifications such as the Certified Financial Planner (CFP) designation.
Job role: They analyze financial data, such as income, expenses, investments, and taxes, to inform clients how to manage their finances best. They also continuously monitor clients’ investments and financial plans and adjust as needed.
Where vacancies are available: Financial planners may work for financial planning firms, insurance companies, banks, or other financial institutions. Some financial planners also work as independent consultants and operate their businesses.
To Apply click here: Financial Planner jobs
Auditor Job
An Auditor is a professional responsible for conducting independent financial and operational audits of a company’s financial statements and internal controls to ensure that they are accurate and in compliance with accounting principles and regulations.
Number of jobs available: According to the Bureau of Labor Statistics, there were 1,414,100 accountant and auditor jobs Available in Finance Consumer Services in the United States in 2023. This number is expected to grow by 10% from 2023 to 2030.
Average salary: The average annual salary for auditors in the United States is $80,240, according to the Bureau of Labor Statistics.
Required qualifications: A bachelor’s degree in accounting, finance, or a related field is typically required for a career as an auditor. Some employers may also require a master’s degree in accounting or business administration. Auditors must also be licensed and registered with their state regulatory authority.
Job role: Auditors conduct financial and operational audits of a company’s financial statements and internal controls to ensure they are accurate and compliant with accounting principles and regulations. They analyze financial data and other information, such as tax records, to inform clients how to manage their finances.
Where vacancies are available: Auditors work for accounting firms, government agencies, or private companies. Some auditors also work as independent consultants and operate their businesses.
To Apply click here: Auditor jobs
How many Jobs Available in Finance Consumer Services
| Job Title | Number of Jobs Available | Average Salary |
|---|---|---|
| Financial Advisor | 78,900 | $89,160 |
| Financial Analyst | 43,800 | $83,660 |
| Loan Officer | 28,200 | $63,040 |
| Underwriter | 22,700 | $80,840 |
| Accountant | 1,44,100 | $80,210 |
| Risk Manager | 11,600 | $110,120 |
| Insurance Agent | 5,20,900 | $52,180 |
| Investment Banker | 21,600 | $105,260 |
| Financial Planner | 10,400 | $90,530 |
| Auditor | 1,15,400 | $79,420 |
SOURCE: United States Bureau of Labor Statistics
Note: These numbers may vary depending on location, experience, education, and company size. Additionally, these figures are based on data from the United States Bureau of Labor Statistics as of May 2023′
Finance Consumer Services jobs and their roles
| Job Title | Job Role |
|---|---|
| Financial Advisor | Provide financial guidance and advice to clients, including investment strategies, retirement planning, and tax management. |
| Financial Analyst | Analyze financial data and economic trends to provide insights and recommendations on investments, risk management, and financial planning. |
| Loan Officer | Evaluate and approve loan applications, including assessing creditworthiness, verifying financial information, and negotiating loan terms. |
| Underwriter | Assess and analyze risk factors to determine the eligibility and appropriate premiums for insurance policies or loans. |
| Accountant | Prepare financial records and statements, including tax returns, and ensure compliance with accounting regulations and standards. |
| Risk Manager | Identify, assess, and manage risks that could impact an organization’ |
Skills required for Jobs Available in Finance Consumer Services
- Strong analytical skills
- Attention to detail
- Excellent communication skills
- Knowledge of financial products and services
- Proficiency in computer software and financial tools
- Ability to work under pressure
- Strong problem-solving skills
- Knowledge of regulations and compliance requirements
- Customer service orientation
- Ability to work independently and as part of a team
Salary Expectations for Jobs Available in Finance Consumer Services
The salary expectations for jobs in the finance consumer services industry vary depending on the role, the level of experience, and the location. According to the Bureau of Labor Statistics (BLS), the median annual wage for financial analysts was $83,660 in May 2023, while the median yearly wage for loan officers was $63,960. Financial advisors had a median annual salary of $89,160, while accountants and auditors had a median yearly salary of $73,560.
Education and Skills Requirements for Jobs Available in Finance Consumer Services
The education and skills requirements for jobs in finance consumer services vary depending on the role. Most entry-level positions require a bachelor’s degree in finance, accounting, economics, or a related field. However, some positions, such as financial advisors, may require additional certifications or licenses.
Certifications for Jobs Available in Finance Consumer Services
Several certifications can help you advance your career in finance consumer services. Some of the most popular certifications include:
- Chartered Financial Analyst (CFA)
- Certified Financial Planner (CFP)
- Certified Public Accountant (CPA)
- Certified Management Accountant (CMA)
- Certified Risk Manager (CRM)
- Certified Fraud Examiner (CFE)
- Certified Information Systems Auditor (CISA)
- Certified Financial Services Auditor (CFSA)
Growth and Future Outlook of the Jobs Available in Finance Consumer Services
The finance consumer services industry is expected to grow in the coming years. According to the BLS, employment in the financial services sector is projected to grow 5% from 2019 to 2029, faster than the average for all occupations. This growth is due to the increasing demand for financial products and services, the growth of fintech companies, and the adoption of digital financial services.
Factors Driving Growth in the Jobs Available in Finance Consumer Services
The finance consumer services industry is one of the fastest-growing sectors in the economy. Several factors have contributed to the growth of this industry, including:
- Increasing demand for financial products and services
- Technological advancements that have made financial services more accessible
- Growing awareness of the importance of financial planning and management
- The changing regulatory landscape in the finance industry
- The rise of fintech companies that are disrupting the traditional finance industry
Challenges Facing the Jobs Available in Finance Consumer Services
Despite the growth prospects for the finance consumer services industry, there are several challenges that this industry faces. Some of these challenges include:
- Increased competition from fintech companies and non-bank financial institutions
- Increased regulatory scrutiny and compliance requirements
- Cybersecurity risks and data breaches
- Economic uncertainty and market volatility
- The changing preferences and behaviors of consumers
Conclusion
The finance consumer services industry offers a wide range of job opportunities for individuals seeking a career in finance. This industry is growing rapidly, and there is a strong demand for skilled professionals with expertise in financial products and services.
Possessing the necessary education, skills, and certifications to perform the job effectively is essential. However, the industry also faces several challenges, and it is important to stay current on trends and market changes to succeed.
FAQs
What jobs are available in finance consumer services?
Some common jobs in finance consumer services include financial advisor, loan officer, investment banker, insurance underwriter, and credit analyst.
What qualifications are needed for jobs in finance?
Most finance jobs require at least a bachelor's degree, and some may require additional certifications or licenses. For example, to work as a financial advisor, you will need to pass the Series 7 and Series 63 exams.
What skills are important for success in finance jobs?
Strong analytical and numerical skills are essential, as well as attention to detail and good communication skills. Many jobs also require the ability to work with complex data and explain financial concepts to others.
What kind of companies hire for finance consumer services roles?
Many types of companies hire for these roles, including banks, investment firms, insurance companies, and consumer lending institutions.
What are some potential career paths in finance consumer services?
Depending on your interests and skills, there are a variety of career paths you could pursue in this sector. Some examples include financial planning, risk management, investment analysis, or corporate finance.
What types of positions are available in finance consumer services?
The sector offers a variety of positions, such as financial advisor, loan officer, investment banker, insurance underwriter, and credit analyst.
Hi there, I’m shiv singh, a financial advisor at Tata Group with a Master’s degree in Commerce from SRCC – Shri Ram College of Commerce. With over three years of experience in the financial sector, I possess a wealth of knowledge and expertise that I share through my blog posts on FinancialMajestic.com. Join me as I simplify complex financial concepts and empower readers with valuable insights.