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What is a finance and insurance manager and how to become one
A finance and insurance manager is an individual who works in the automotive industry and is responsible for assisting customers with financing and insurance options when purchasing a vehicle. They work with lenders to secure loans and create financing plans, as well as advise customers on insurance coverage.The role requires excellent communication and interpersonal skills, as well as a strong understanding of finance and insurance regulations. They play a critical role in ensuring that customers have a positive experience.
Avg. Salary $92,250
Avg. Salary $59,228
Growth rate 17%
Growth rate 0.3%
American Indian and Alaska Native 0.34%
Asian 7.51%
Black or African American 8.76%
Hispanic or Latino 14.60%
Unknown 4.15%
White 64.64%
Genderfemale 32.46%
male 67.54%
Age - 46American Indian and Alaska Native 3.00%
Asian 7.00%
Black or African American 14.00%
Hispanic or Latino 19.00%
White 57.00%
Genderfemale 47.00%
male 53.00%
Age - 46Stress level is very high
7.1 - high
Complexity level is advanced
7 - challenging
Work life balance is fair
6.4 - fair
What are the pros and cons of being a finance and insurance manager?
Pros
Potential for high income
Opportunity for career advancement
Variety of responsibilities and tasks
Develops skills in finance, sales, and customer service
Ability to help customers make informed financial decisions
Cons
High-pressure job with sales targets to meet
Long hours, including weekends and evenings
Can be stressful dealing with customer concerns and complaints
Can involve high levels of competition with other finance managers in the industry
Commission-based pay can be unpredictable
Finance and insurance manager career paths
Key steps to become a finance and insurance manager
Explore finance and insurance manager education requirements
Start to develop specific finance and insurance manager skills
Skills Percentages Customer Service 19.04% Insurance Products 11.08% Customer Satisfaction 6.70% DMV 6.65% Life Insurance 6.32% Complete relevant finance and insurance manager training and internships
Accountants spend an average of 1-3 months on post-employment, on-the-job training. New finance and insurance managers learn the skills and techniques required for their job and employer during this time. The chart below shows how long it takes to gain competency as a finance and insurance manager based on U.S. Bureau of Labor Statistics data and data from real finance and insurance manager resumes.Research finance and insurance manager duties and responsibilities
- Reorganize and lead the department from $600 PVR to $1400 PVR in 90 days.
- Lead successful sales team and provide direct oversight on overall dealership business profitability.
- Handle state and finance paperwork for a Toyota, Honda and Nissan dealership.
- Work with Reynolds+Reynolds and ADP systems.
Prepare your finance and insurance manager resume
When your background is strong enough, you can start writing your finance and insurance manager resume.
You can use Zippia's AI resume builder to make the resume writing process easier while also making sure that you include key information that hiring managers expect to see on a finance and insurance manager resume. You'll find resume tips and examples of skills, responsibilities, and summaries, all provided by Zippi, your career sidekick.
Choose from 10+ customizable finance and insurance manager resume templates
Build a professional finance and insurance manager resume in minutes. Browse through our resume examples to identify the best way to word your resume. Then choose from 10+ resume templates to create your finance and insurance manager resume.
Apply for finance and insurance manager jobs
Now it's time to start searching for a finance and insurance manager job. Consider the tips below for a successful job search:
- Browse job boards for relevant postings
- Consult your professional network
- Reach out to companies you're interested in working for directly
- Watch out for job scams
How did you land your first finance and insurance manager job
Are you a finance and insurance manager?
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Average finance and insurance manager salary
The average finance and insurance manager salary in the United States is $92,250 per year or $44 per hour. Finance and insurance manager salaries range between $54,000 and $155,000 per year.
What am I worth?
How do finance and insurance managers rate their job?
Updated January 8, 2025
