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Finance is a vast field that involves money management and financial acquisition. This field comes with categories that offer tons of opportunities. So, yes! Finance consumer services is a good career path.

However, many consider getting an in-depth answer to why finance consumer services is a good career path.

Have you ever wondered about the impact of the absence of finance consumer services on the economy?

You wouldn’t want that, or would you?

This article will answer your question – is finance consumer services a good career path for graduates? It will also expose you to the benefits and career opportunities in abundance in this industry.

What is Finance Consumer Services?

Also referred to as retail financial services, financial consumer services are financial services that are made available to the average consumer.

In other words, it covers personal finance advice financial experts provide that benefits both consumers and businesses.

You are free to work with individuals or small enterprises and their employees.

In addition, working with others might be more exciting. It allows you to interact with your clients on a more personal level while also assisting them in better understanding their finances.

You can conduct this business from home. However, you must ensure your clients are spaced out enough that you wouldn’t have to travel.

Examples of Finance Consumer Services?

As already stated, finance consumer services are financial services offered to regular consumers. Some examples include:

Savings and current account
credit cards
Payment services
Insurance
Mortgages
Investment products

Is Finance Consumer Services a Good Career Path?

Finance consumer services is a good career path, especially if you value maintaining strong customer interactions.

This would keep you updated on requirements, feedback, and consumer behavior. Furthermore, it keeps you up to speed on current market demands.

Pursuing a career in this field will allow you to advance from the bottom to the top.

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What are the Benefits of Finance Consumer Services?

The benefits of pursuing a career in finance consumer services are far-reaching.

With a career in finance consumer services, you stand a chance of benefitting the following:

Great pay

Ending up in finance consumer services implies one thing – a high salary. It is an employee’s dream to walk home with a fat salary.

The good news is that you can earn a complete job in finance and consumer services.

Job Variety

This industry is quite broad and has a pool of career options. It simply means there’s always an option that you can settle for.

It also allows you to work alone or with a company.

Flexibility

Landing a job in finance consumer services allows you to work from home or other places other than the office.

In addition, you have more control over your time. Hence, you can plan your schedule or meetings in a manner that suits you.

The industry is booming

Finance consumer services are booming. This implies that there will always be a need for more hands or employees.

In other words, the employment rate will be high.

Less stressful

It is no secret that finance and consumer services jobs are not as demanding or stressful as other industries.

Vast knowledge

As you already know, learning never ends. A career in the finance consumer services industry will help you garner more knowledge about several products and services.

Such knowledge will enable you to have a smooth sail in your career.

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What Degree Do You Need To Work in Finance Consumer Services?

If you intend on making a career in finance consumer, you need a degree in any related field.

A degree in any field will prepare you for a career in finance and consumer services.

You can get a degree in any of the following fields:

Finance
Financial reporting
Any of the relevant fields

Required Skills for a Career in Finance Consumer Services

There are specific skills you need to acquire to pursue a career in finance and consumer services.

Developing these skills will set you up for a career in finance and consumer services.

Some of these skills include:

Complete knowledge of financial regulations
Excellent attention to detail
Good communication and interaction skills
Ability to work under pressure and meet deadlines
Excellent analytical and problem-solving skills

What are the Finance Consumer Services Job Prospects?

The finance consumer services industry has a promising job outlook. Statistics show that between 2016 and 2026, the industry will experience a 5% growth rate.

A couple of factors are responsible for this growth, such as rising demand for financial services, an aging population, and the economy’s continuous internationalization.

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How Much Can You Make From This Field?

The amount you can make from this field highly depends on the job position. Therefore, the salary in this industry varies.

However, professionals in this industry earn a modest income.

For instance, the average salary for a fund manager is $137,733, while a finance manager makes an average of $95,883 annually.

In conclusion, you earn according to your profession.

7 Highly Paid Finance Consumer Services For Graduates

If you gunning for a job in this industry, it is necessary to identify the highest-paying jobs in this sector.

Some of the highly paid finance consumer services for graduates:

1. Fund Manager

A fund manager is an executive responsible for implementing investment plans and supervising the fund’s trading activity.

They are also responsible for managing analysts, performing research, and making critical investment choices for mutual funds or pensions.

The average salary of a fund manager in the United States is $65,205 and can get as high as $123,109, according to indeed.com.

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2. Investment Banker

An investment banker is a bank official responsible for raising capital for businesses, governments, and other bodies.

In simpler terms, they help their clients raise capital.

According to ZipRecruiter, an investment banker makes an average annual salary of $103,485. Also, these bankers earn between $20,500 and $301,000 annually.

3. Finance Manager

Finance managers are accounting specialists who oversee a company’s financial well-being.

These professionals also counsel senior management or corporate authorities on how and where to acquire and distribute the company’s assets.

According to indeed.com, finance managers earn an average annual salary of $103,051. In addition, the salary of this professional falls between $80,030 to $132,695.

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4. Private Equity Associate

This is an investment banking executive in charge of finding new investors, assisting with acquisitions, and completing due diligence on existing clients.

They are equally responsible for assisting from the beginning to the end of a transaction.

Comparably puts the average annual salary of a private equity associate at $247,532. However, with additional pay, he earns a total annual average wage of $122,532.

5. Accountant

Accountants play a significant role in finance and business.

An accountant is a specialist who is in charge of maintaining and interpreting financial records.

The responsibilities of an accountant also include auditing, account analysis, and financial statement analysis.

Furthermore, they prepare tax returns, audit financial records, and provide financial reports for individuals and organizations.

According to salary.com, accountants in the US earn an average annual salary of $58,940.

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6. Loan Officer

A loan officer is also referred to as a mortgage loan officer. A loan officer is a financial institution representative who assists borrowers during the application process.

These financial representatives are equally responsible for the most complicated and expensive loan types available to consumers.

Furthermore, they help consumers and micro-enterprises with various secured and unsecured loans.

Loan officers make an average annual salary of $85,733, according to ziprecruiter. They also earn an hourly pay of $41.

7. Compliance Officer

This is a corporate employee that ensures that a company conforms with all external (regulatory and legal) standards and in-house rules and regulations.

According to payscale, a compliance officer in the United States makes an average annual salary of $71,464. Additionally, compliance officers earn between $46,000 and $113,000.

Conclusion

Getting to decide on a career path to settle for can be a tough decision to make. Hence, it is vital to gather as much information about your industry of interest as possible.

The information so far points to one fact – that finance consumer services are a good career path.

We hope this article met your expectations. Reach us through the comment section for feedback.

Frequently Asked Questions on is finance consumer services a good career path

What are Financial Services Firms?

A financial services company is a company that provides economical services.

Banks, credit card businesses, insurance companies, accounting firms, credit unions, stock brokerages, investment funds, and consumer financing companies are examples of this.

What is a Financial Service Company?

A financial services company promotes economic growth by linking individuals with money to save and those who need funds to lend.

What are the Types of Financial Services?

The following are some of the types of financial services:

Banking
Mutual funds
Insurance
Stock market
Tax/Audit consulting

What are the 4 Most Common Types of Financial Institutions Today?

The following are the 4 most common types of financial institutions:

Insurance companies
Commercial banks
Brokerage firms
investment banks

What are the Types of Finance?

Finance is mainly divided into three primary subcategories. They include:

Corporate Finance
Personal Finance
Public/Government Finance

Why Do We Need Financial Services?

Financial services are essential to the smooth operation of an economy.

Also, in the absence of financial services, individuals having money to save may struggle to find those who need to borrow without them and vice versa.

FAQs

What are financial services firms?

A financial services company is a company that provides economical services.

Banks, credit card businesses, insurance companies, accounting firms, credit unions, stock brokerages, investment funds, and consumer financing companies are examples of this.

What is a finance service company?

A financial services company promotes economic growth by linking individuals with money to save and those who need funds to lend.

What are the types of financial services?

The following are some of the types of financial services:

Banking
Mutual funds
Insurance
Stock market
Tax/Audit consulting

What are the 4 most common types of financial institutions today?

The following are the 4 most common types of financial institutions:

Insurance companies
Commercial banks
Brokerage firms
investment banks

What are the types of finance?

Finance is mainly divided into three primary subcategories. They include:

Corporate Finance
Personal Finance
Public/Government Finance

Why do we need financial services?

Financial services are essential to the smooth operation of an economy.

Also, in the absence of financial services, individuals having money to save may struggle to find those who need to borrow without them and vice versa.