Is Finance Consumer Services A Good Career Path? (15 Jobs In Finance Consumer Services: Best-Paying + Entry-Level)

Finance consumer services generally deal with small businesses and consumers; this is not banking for large businesses. That said, this is a great career path because there will always be a demand for your services; if you like working with people, you get to enjoy that, and it’s a fascinating business.

Working in finance consumer services can cover a lot of different professions, from those that are entry-level and require no outside skills to people who are running the company. If the field of Finance Consumer Services is interesting to you, then the following list of jobs will give you an idea of what professions there are and how to get there.

Here are 13 great jobs in finance consumer services:

1. Hedge Fund Manager Jobs (Overview)

2. Bank President Jobs (Overview)

3. Accountant Jobs (Overview)

4. Loan Officer Jobs (Overview)

5. Credit Analyst Jobs (Overview)

6. Claims Adjuster Jobs (Overview)

7. Finance Advisor Jobs (Overview)

8. Loan Assistant Jobs (Overview)

9. Bank Teller Jobs (Overview)

10. Administrative Assistant Jobs (Overview)

11. Debt Collector Jobs (Overview)

12. Receptionist Jobs (Overview)

13. Customer Service Representative Jobs (Overview)

The 5 Best-Paying Jobs in Finance Consumer Services

Finance Consumer Services often requires a degree for advancement in the field. If you’re willing to put in the work to earn a bachelor’s degree and beyond, then you can work your way into one of the following five best-paying jobs in the finance consumer services business.

1. Hedge Fund Manager

   Average Annual Salary: $81,000

   A hedge fund manager is responsible for making investment decisions on behalf of a group of clients. They have huge amounts of responsibility and are expected to make good and financially sound decisions. Hedge funds are complicated, and doing this work takes education and intelligence, but the pay is worth it.

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2. Bank President

   Average Annual Salary: $105,000

   The job of bank president doesn’t just require a degree; it also often requires many years of service in the industry. Knowing all of the ins and outs of the banking industry and your branch, in particular, is what makes you successful in this career.

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3. Financial Analysts

   Average Annual Salary: N/A

   Financial analysts are charged with reviewing the finances of individuals or businesses. Often, they’re looking to make sure that the person or group asking for a loan is a good financial risk. Banks don’t want to lose money when they lend it, and this makes analysts very important people with a lot of responsibility.

4. Accountant

   Average Annual Salary: $52,000

   A degree in accounting and many certifications are often the keys to rising to the top of the accounting field. Accountants are top-notch experts in finance and live to make sure that financial accounts balance correctly. There is often a regulatory element to their jobs also, and they need to stay abreast of new laws and tax changes.

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5. Loan Officer

   Average Annual Salary: $44,000

   If you’ve ever gone to your local bank and asked for a car or home loan, you’ve worked with a loan officer. This person typically has formal education, and there is training and licensing that will be required when you get the job. This job has a lot of responsibility, but it is often paid on a commission basis, so there’s a possibility for a huge annual income.

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10 Entry-Level Jobs in Finance Consumer Services

If you’re thinking about getting your toes wet in the consumer finance field, there are a lot of jobs you can try in different areas to figure out what part of this business interests you the most.

What’s important to remember is that this is a job that requires great skill with numbers, and it usually requires at least an associate’s degree. In many situations, you’ll need a bachelor’s degree or more, even for some entry-level finance jobs.

1. Credit Analyst

   Average Annual Salary: $62,000

   A credit analyst typically has a college degree but may enter the field with an associate’s degree with plans to get their bachelor’s. Credit analysts can work in a variety of businesses, basically anywhere that someone is applying for credit. Their job is to look at credit applications and research them to see if they qualify for a credit card or a loan.

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2. Insurance Claims Adjuster

   Average Annual Salary: $49,000

   Not all areas of insurance fall as neatly into the financial services heading as an insurance claims adjuster, but this position definitely fits. In this position, you’ll be reviewing damages and calculating estimates for payouts or repairs. Sometimes, you might be working as a private detective to find fraud. This job does not require a degree but will require special training.

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3. Personal Finance Advisor

   Average Annual Salary: $67,000

   This is an important job and requires a bachelor’s degree or higher, but it is often a job that people fresh out of college start with, making it an entry-level position. A personal financial advisor works with individuals to help them establish a financial plan so they can prepare for and meet their goals.

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4. Loan Assistant

   Average Annual Salary: $37,000

   This is a good entry-level job with potential for growth in the banking industry. The loan assistant helps the loan officer with all of the paperwork involved in each loan they manage. The more loans that are processed, the more work there is for you to help with.

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5. Bank Teller

   Average Annual Salary: $31,000

   Bank tellers are the people you deal with at the window, either inside or through the drive-up of your bank or credit union. They’ll cash checks, give you money orders, provide traveler’s checks and help answer your general questions about your account and the bank. Most of the training is on-the-job, and there’s no education required.

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6. Office Support / Administrative Assistant

   Average Annual Salary: $36,000

   Most financial institutions have people who require administrative support. These people help process paperwork, do data entry, keep track of schedules, and arrange meetings and any other jobs required to keep their boss(es) days running smoothly. No degree in finance is required, but some computer skills are necessary.

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7. Debt Collector

   Average Annual Salary: $32,000

   In the banking and finance industry, there are a lot of people borrowing money, and some of them don’t pay it back like they’re supposed to. A debt collection worker tries to get that person to pay, or they might take them to court to get their wages garnished. It’s not a job that requires education, but it is a difficult career.

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8. Receptionist

   Average Annual Salary: $29,000

   The receptionist doesn’t need formal education, but they’re going to need to know a lot about the business they’re representing. The receptionist is the first contact the public has with the bank, and they need to be pleasant and able to answer basic questions or connect the individual with the right department.

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9. Customer Service Representative / Chat or Call Center

   Average Annual Salary: $30,000

   Today, there are customer service representatives in some financial institutions. Sometimes they work on phone lines, and sometimes, they’re charged with handling live web chats. These people don’t need a degree, but they will have a lot to learn about the business so they can answer or manage any questions that customers may have.

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10. Entry-Level Financial Analyst

    Average Annual Salary: N/A

    An entry-level financial analyst will mainly be charged with inputting data. There are massive amounts of financial data that are collected in the finance industry, and this needs to be appropriately collected and entered before it can be reviewed and analyzed. As you advance in your career, you may be charged with coming up with some conclusions and advice.

Why Choose a Career in Finance Consumer Services

The best reason to choose a job in Finance Consumer Services is job security. This is a field that’s been around for thousands of years and isn’t likely to go away. While there are changes in how people invest and the tools available to you to do your job, the whole of the business is the same and will always be about investing and borrowing.

The following are some reasons why you might want to choose a career in finance consumer services.

• Job security. As mentioned above, this job is one that’s been around for ages and will continue to play an important role in personal lives and business.

• Opportunity for advancement. This industry is loaded with junior and senior-level positions, which means that you can work your way up if you’re willing to learn the ropes and prove yourself.

• Change careers under the same umbrella. This job has a lot of nuances that create different fields of work. If you find that you’re in one area of banking and don’t like it, there’s no reason to quit; you can just shift to another area in the consumer finance business.

• Potential for a high salary. The more you’re willing to learn and show your skill, the better your odds are to move up and earn a higher salary. This is a field where you’re dealing with money all day long, and it tends to have high paychecks involved.

• Dealing with people. Many people in the banking industry enjoy getting to communicate with other people on a regular basis. This is financial services, so you’re often doing something to help another person, and that can be very rewarding.

Education and Certification Requirements for a Career in Finance Consumer Services

Financial services are a very technical field that often requires a bachelor’s degree or more. There are some entry-level jobs that don’t require education or that you can begin doing with an associate’s degree, but if you want to move up, you’ll need to get those advanced degrees. Also, there are a lot of specialty certifications involved in every area of financial services.

• High school or GED. The first step is getting your high school degree or a GED. This is a base requirement, and it might help you get your foot in the door, but you’ll need more education if you want to advance.

• On-the-job training. Every position within the financial services industry will have a lot of on-the-job training involved to learn the ins and outs of that particular institution and position. You’ll also find that you’re constantly learning because you’re dealing with other people, and they can be challenging.

• Associates or tech certifications. Getting an associate’s degree or passing some tech school classes can help you advance in your finance career and can give you experience in different areas so you can decide which one best suits you.

• Bachelor’s degree. Many positions, even entry-level positions, in the financial services business require a bachelor’s degree. This is an essential part of learning all that you can about the business and how to use proper accounting techniques to do your job.

• Masters or doctorate degrees. These degrees can take you past the entry-level job you started at and move you into the highest-paying jobs in the finance industry.

• Certifications and special training. Throughout your career in finance, you’re going to find opportunities to earn new certificates or get additional training. The more you accumulate these certifications, the further you can go in your career.

Is Finance Consumer Services a Good Career Path?

Yes, finance consumer services is a great career path. Finance is a very stable profession that still offers a bit of variety. It demands a lot of education and intellect, especially if you want to do well and climb the corporate ladder, but the financial rewards make this trade-off worth it for many.

In addition to job security and the opportunity for wealth, this field is filled with variety. This means you can start in one area of finance consumer services and switch to another without suffering a financial cut in pay or having to learn an entirely new industry. This business is going to be around forever, and it’s a reliable career that can lead to a rewarding professional life.

Author

Kristin Kizer

Kristin Kizer is an award-winning writer, television and documentary producer, and content specialist who has worked on a wide variety of written, broadcast, and electronic publications. A former writer/producer for The Discovery Channel, she is now a freelance writer and delighted to be sharing her talents and time with the wonderful Zippia audience.