What is a Finance And Insurance Manager

These people are mostly found in the insurance sector, and their job is to use statistical data to calculate clients' financial uncertainty. They are also tasked with calculating the cost of premium health insurance packages. Seventy percent of Health Actuary work in insurance companies, while the rest of them work with some government health agencies. They are also responsible for providing advice to their clients, but on a contract basis; they often work mostly as consultants. They design, help administer insurance, analyze pension plans, determine financial soundness, and calculate premiums.

There are some skills you need to increase your chances of getting this job. Some of them include mathematics skills, the ability to calculate and identify potential risk with the use of calculus, and probability, strong statistical skills, strong analytical skills, technical skills, e.g., database operations, statistical analysis, and spreadsheets, risk management skills, ability to identify and predict potential and problem-solving skills. The salary structure for this job depends on some factors: the size of the organization, the experience of the candidate, and the country in which you reside. In the United States, an average Health Actuary earns between $68,000 and $113,567 per annum.

There is more than meets the eye when it comes to being a finance and insurance manager. For example, did you know that they make an average of $44.98 an hour? That's $93,556 a year!

Between 2018 and 2028, the career is expected to grow 16% and produce 104,700 job opportunities across the U.S.

What Does a Finance And Insurance Manager Do

There are certain skills that many finance and insurance managers have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed customer-service skills, leadership skills and analytical skills.

Learn more about what a Finance And Insurance Manager does

How To Become a Finance And Insurance Manager

If you're interested in becoming a finance and insurance manager, one of the first things to consider is how much education you need. We've determined that 63.9% of finance and insurance managers have a bachelor's degree. In terms of higher education levels, we found that 4.8% of finance and insurance managers have master's degrees. Even though most finance and insurance managers have a college degree, it's possible to become one with only a high school degree or GED.

Choosing the right major is always an important step when researching how to become a finance and insurance manager. When we researched the most common majors for a finance and insurance manager, we found that they most commonly earn bachelor's degree degrees or associate degree degrees. Other degrees that we often see on finance and insurance manager resumes include high school diploma degrees or master's degree degrees.

You may find that experience in other jobs will help you become a finance and insurance manager. In fact, many finance and insurance manager jobs require experience in a role such as sales manager. Meanwhile, many finance and insurance managers also have previous career experience in roles such as sales consultant or sales representative.

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Average Salary
$93,556
Average Salary
Job Growth Rate
16%
Job Growth Rate
Job Openings
102,469
Job Openings
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Finance And Insurance Manager Career Paths

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Average Salary for a Finance And Insurance Manager

Finance And Insurance Managers in America make an average salary of $93,556 per year or $45 per hour. The top 10 percent makes over $154,000 per year, while the bottom 10 percent under $56,000 per year.
Average Salary
$93,556
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Finance And Insurance Manager Resumes

Designing and figuring out what to include on your resume can be tough, not to mention time-consuming. That's why we put together a guide that is designed to help you craft the perfect resume for becoming a Finance And Insurance Manager. If you're needing extra inspiration, take a look through our selection of templates that are specific to your job.

Learn How To Write a Finance And Insurance Manager Resume

At Zippia, we went through countless Finance And Insurance Manager resumes and compiled some information about how to optimize them. Here are some suggestions based on what we found, divided by the individual sections of the resume itself.

View Finance And Insurance Manager Resume Examples And Templates

Finance And Insurance Manager Demographics

Finance And Insurance Manager Gender Statistics

male

65.1 %

female

31.4 %

unknown

3.4 %

Finance And Insurance Manager Ethnicity Statistics

White

68.9 %

Hispanic or Latino

14.4 %

Black or African American

7.6 %

Finance And Insurance Manager Foreign Languages Spoken Statistics

Spanish

57.5 %

French

10.0 %

Portuguese

7.5 %
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Finance And Insurance Manager Education

Finance And Insurance Manager Majors

38.2 %
12.8 %

Finance And Insurance Manager Degrees

Bachelors

63.9 %

Associate

16.8 %

High School Diploma

9.3 %

Top Colleges for Finance And Insurance Managers

1. University of Pennsylvania

Philadelphia, PA • Private

In-State Tuition
$55,584
Enrollment
10,764

2. Northwestern University

Evanston, IL • Private

In-State Tuition
$54,568
Enrollment
8,451

3. University of Southern California

Los Angeles, CA • Private

In-State Tuition
$56,225
Enrollment
19,548

4. SUNY at Binghamton

Vestal, NY • Private

In-State Tuition
$9,808
Enrollment
13,990

5. Villanova University

Villanova, PA • Private

In-State Tuition
$53,308
Enrollment
6,819

6. San Diego State University

San Diego, CA • Private

In-State Tuition
$7,488
Enrollment
30,018

7. Bentley University

Waltham, MA • Private

In-State Tuition
$49,880
Enrollment
4,177

8. Boston University

Boston, MA • Private

In-State Tuition
$53,948
Enrollment
17,238

9. SUNY Stony Brook

Stony Brook, NY • Private

In-State Tuition
$9,625
Enrollment
17,407

10. New York University

New York, NY • Private

In-State Tuition
$51,828
Enrollment
26,339
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Online Courses For Finance And Insurance Manager That You May Like

Fundamentals of Insurance - 1
udemy
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Financial Analysis of Insurance Companies Professional Certificate Examination
edX (Global)

Ready to earn a professional certificate and stand out in your field? If you've gained a clear, comprehensive understanding of the courses, your next step is to complete the Financial Analysis of Insurance Companies Professional Certificate Examination from the New York Institute of Finance. The exam comprises 24 questions, timed at one hour. To qualify for the certificate, learners must receive a grade of at least 70% or higher. Prerequisite for this exam: Earn a Verified Certificate in all...

Financial Analysis of Insurance Companies – Industry Overview and Analysis of Financial and Regulatory Reporting
edX (Global)

Want to gain a solid understanding of the unique analysis methods needed to assess the financial strength and operating performance of insurance companies in the US and Europe? We’ll begin this course with a look at the main lines of business and the current operating environment of the Life and Health sector of the industry. We will also discuss the impact of changes in interest rates on investment earnings and sales of annuity products. Next, we’ll turn our attention to the property and...

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Top Skills For a Finance And Insurance Manager

The skills section on your resume can be almost as important as the experience section, so you want it to be an accurate portrayal of what you can do. Luckily, we've found all of the skills you'll need so even if you don't have these skills yet, you know what you need to work on. Out of all the resumes we looked through, 22.2% of finance and insurance managers listed customer service on their resume, but soft skills such as customer-service skills and leadership skills are important as well.

12 Finance And Insurance Manager RESUME EXAMPLES

Best States For a Finance And Insurance Manager

Some places are better than others when it comes to starting a career as a finance and insurance manager. The best states for people in this position are New York, Connecticut, Delaware, and Virginia. Finance and insurance managers make the most in New York with an average salary of $120,051. Whereas in Connecticut and Delaware, they would average $114,999 and $99,577, respectively. While finance and insurance managers would only make an average of $96,649 in Virginia, you would still make more there than in the rest of the country. We determined these as the best states based on job availability and pay. By finding the median salary, cost of living, and using the Bureau of Labor Statistics' Location Quotient, we narrowed down our list of states to these four.

1. Connecticut

Total Finance And Insurance Manager Jobs:
656
Highest 10% Earn:
$205,000
Location Quotient:
1.2
Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here

2. Delaware

Total Finance And Insurance Manager Jobs:
264
Highest 10% Earn:
$184,000
Location Quotient:
1.28
Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here

3. New York

Total Finance And Insurance Manager Jobs:
2,333
Highest 10% Earn:
$212,000
Location Quotient:
1.11
Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here
Full List Of Best States For Finance And Insurance Managers

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Updated August 18, 2021