There are many job opportunities in Finance Consumer Services. The industry offers consumers various services which cut across banking, investing, and insurance. They allow people to save money, invest in the economy, and protect themselves against financial risk.
The finance consumer services industry plays a vital role in the economy by allowing people to save money. They also help people invest in the economy. When people invest in the economy, it allows businesses to grow, thus creating more jobs.
More so, the industry helps protect people from risk. When people buy insurance policies, it allows them to protect themselves against bad luck or economic downturns.
In this article, we highlight some of the jobs in this industry and their earning potential.
Few Jobs In The Industry
Credit analysts analyze data and information about consumers’ financial situations to determine whether they qualify for loans.
They use statistical analysis and mathematical equations to decide consumers’ loan applications.
The average annual salary for a credit analyst is around $55,506
That comes to about $21.52/hour and $3,930/month.
Mortgage Loan Officer
Mortgage loan officers help people apply for mortgages.
They gather information about borrowers’ income, assets, debts, and credit history and present it to lenders, who decide whether to approve or deny the application.
The average annual salary for a mortgage loan officer is around $215,517
That comes to about $51.55/hour and $15,259/month.
Insurance Claims Adjuster
Insurance claims adjusters review insurance policies and pay out money to policyholders after a loss occurs.
They investigate the possible cause of the accident affecting their client and assess damages. If the damage was caused by negligence, they might take legal action against those responsible.
The average annual salary for an insurance claims adjuster is around $95,641
That comes to about $46/hour and $7,170/month.
Financial advisors provide advice and guidance to clients regarding investments, retirement planning, and personal finances.
They also offer their clients financial and asset management advice.
The average annual salary for a financial advisor is around $74,761
That comes to about $32.07/hour and $5,293/month.
Investment bankers negotiate deals between businesses and investors. They represent both parties and ensure that each side gets what they want.
The average annual salary for an investment banker is around $41,633
That comes to about $22.49/hour and $2,948/month.
Financial controllers keep track of company finances and ensure that cash flows smoothly throughout the business.
They prepare reports and monitor transactions to identify problems before the company feels the impact.
The average annual salary for a financial controller is around $89,958
That comes to about $38.64/hour and $6,369/month.
A finance analyst provides financial services to consumers.
They help the company manage its finances and ensure they have enough money to pay off debts and invest in new projects.
The average annual salary for a finance analyst is around $71,293
That comes to about $36.14/hour and $5,048/month.
Financial managers are entrusted with the company’s finances. They are to ensure everything goes on well in the company.
They make decisions about how much money the company should spend, where it should go, and whether it should borrow more.
They also keep track of how well the company is doing financially.
The average annual salary for a financial manager is around $90,894
That comes to about $25.18/hour and $6,435/month.
Accountants record transactions and prepare financial statements.
They calculate profits and losses, balance sheets, and income statements.
The average annual salary for an accountant is around $53,695
That comes to about $24.00/hour and $3,802/month.
Asset Management Consultant
Asset management consultants advise companies on how to use assets effectively.
They look at a company’s current assets, including cash, inventory, equipment, and real estate, and suggest ways to improve them.
The average annual salary for a technician is around $103,541
That comes to about $50/hour and $8,628/month.
Risk analysts evaluate risks associated with a business and recommend solutions to reduce those risks.
They identify problems and opportunities and determine how the company might steer clear of issues of a similar nature in the future.
The average annual salary for a risk manager is around $76,944
That comes to about $37.52/hour and $5,448/month.
At least a million jobs are available to people in the financial services industry.
The advent of technology has increased the demand for these occupations by several folds, which is why they are seen as growth sectors.
Finance Consumer services are a huge revenue base, and employers have been focusing on developing their customer service divisions, resulting in more job opportunities arising out of it.
The companies in the industry have put a lot into improving their services to consumers, and if you can offer a sound quality service, you will do well.
Our guide to the jobs in finance consumer services helps draw attention to these exciting professions, and we give an overview on how best to use them as an opportunity for employment.