A finance service representative works for a bank or other financial establishment to aid customers with various investments. They may also work as the point person for managing regular loan applications for home mortgages, including providing information to customers on the application process. The representative also looks at the client's current investments and debts, and they may also be expected to make recommendations related to reducing payments or interest. Many banks also sell investment insurance and life-event insurance. The financial services representative presents these products to clients and customers as well.
Finance service representatives must be familiar with and able to speak to customers about various investment tactics to suit the varying needs of the bank's customers. They should also gather information from clients such as age, time until retirement, family size, and income to help the client determine appropriate investment options.
The educational requirements for this position vary by institution. Some establishments allow practical banking and demonstrated financial product knowledge to supersede formal education, but many banks prefer individuals with at least a bachelor's degree in business, finance, or a related discipline. Finance service representatives will typically work in an office environment during regular business hours while earning around $16 per hour.
There is more than meets the eye when it comes to being a finance service representative. For example, did you know that they make an average of $16.75 an hour? That's $34,844 a year!
Between 2018 and 2028, the career is expected to grow 4% and produce 18,500 job opportunities across the U.S.
There are certain skills that many finance service representatives 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 analytical skills, initiative and detail oriented.
When it comes to the most important skills required to be a finance service representative, we found that a lot of resumes listed 14.3% of finance service representatives included financial services, while 8.3% of resumes included communication, and 4.8% of resumes included customer service. Hard skills like these are helpful to have when it comes to performing essential job responsibilities.
When it comes to searching for a job, many search for a key term or phrase. Instead, it might be more helpful to search by industry, as you might be missing jobs that you never thought about in industries that you didn't even think offered positions related to the finance service representative job title. But what industry to start with? Most finance service representatives actually find jobs in the finance and health care industries.
If you're interested in becoming a finance service representative, one of the first things to consider is how much education you need. We've determined that 47.8% of finance service representatives have a bachelor's degree. In terms of higher education levels, we found that 10.4% of finance service representatives have master's degrees. Even though most finance service representatives 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 service representative. When we researched the most common majors for a finance service representative, we found that they most commonly earn bachelor's degree degrees or associate degree degrees. Other degrees that we often see on finance service representative 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 service representative. In fact, many finance service representative jobs require experience in a role such as customer service representative. Meanwhile, many finance service representatives also have previous career experience in roles such as teller or sales associate.