One of the most common questions we come across on the internet is – “Is finance a good career path?” Our answer is always yes, provided you are good at what you do. If you are interested in having a good career in finance consumer services, you will need to know about the best paying jobs in finance consumer services and also about what do finance jobs pay in general.
Apart from that, you must also have a better idea of what companies are in the consumer services field, especially in finance. In this article, we will discuss mainly the finance consumer services jobs and the major companies that offer these jobs. If you want to have a successful career in the path of finance consumer services, consider reading through to the end of the article.
What Are Finance Consumer Services?
Finance consumer services include a variety of job roles that fall under the purview of the finance industry as well as the consumer industry. The jobs mainly include offering financial services mainly dedicated to consumers. Some of the common finance consumer services jobs include accountants, financial analysts, loan officers, customer service representatives, etc.
These services are very important for the proper functioning of the economy, as they are mainly focused on the consumers. If you have a job in finance consumer services, you will basically be responsible for providing financial advice to clients and performing financial analysis so as to manage the finances of clients too. If you are looking for a finance consumer services job, you can be sure of a professionally and financially rewarding job.
According to the US Bureau of Labor Statistics, “Overall employment in business and financial occupations is projected to grow 7 percent from 2021 to 2031, about as fast as the average for all occupations; this increase is expected to result in about 715,100 new jobs over the decade…The median annual wage for this group was $76,570 in May 2021, which was higher than the median annual wage for all occupations of $45,760.”
What Companies Are In The Finance Field Of Consumer Services?
Depending on the role you want to work, as well as your skills and performance, your chances of working in a top company vary. There are many top companies that offer finance consumer services. And the salaries for those services in the United States range from $50,000 to $100,000 per year on average.
Some of the major companies that offer good payment to finance consumer services jobs include top financial companies like Berkshire Hathaway, JPMorgan Chase, Goldman Sachs, American Express, Americas Bank, Citigroup, Freddie Mac, Morgan Stanley, Wells Fargo, MetLife, etc.
What Are The Best Paying Jobs In Finance Consumer Services?
There are many jobs in the finance consumer services field that you can consider as best paying. However, it depends upon the type of job you want to have as well as the skills you possess. The following are the best paying jobs in consumer services when it comes to financing:
1. Private Equity Associate
Although not one of the best paying jobs in finance consumer services, it is still a good place for a beginner with no experience. You will work with investment bankers and have to find potential investors.
if you are aiming for a career in this sector, the recruiter might want a 4 year degree in maths, finance, accounting, economics, or an MBA. However, if you have at least a 2 years experience as an Investment Analyst, that would be more helpful.
- You can expect a yearly salary of $1,00,762.
2. Financial Software Developer
If you are good with software development and programming and want to create software to ease the processes of finance, then there is a lot of chance for you. You will work with banks, financial institutions, and accounting companies.
Job applicants need to have a bachelor’s degree in computer science or related field. Having at least 4 years of experience as a software developer is even better. Proficiency with different programming languages such as java, C++ are necessary for this job role.
- The top expected salary in this category is $146,500.
3. Investment Banker
This is a famous job role and one of the best paying jobs in finance consumer services. You will have to work with banks and finance companies and have to provide investment ideas to companies and help them in loan negotiation.
If you are pursuing high level roles then you can consider taking an MBA in Finance or the CFA. However, a law degree or financial mathematics can also help boost your resume.
- The average salary of an investment banker in the US is $1,33,271 per year.
4. Chief Financial Officer
This is a senior job role, and hence is also one of the best paying in the field. The responsibilities include handling the financial operations of the company in which you work. The work includes planning and analysis.
Applicants at least need to have a bachelor’s degree in finance related subjects. A bachelor’s or Master’s degree in accounting surely helps.
- An expected median annual CFO salary in this role in the US is usually $393,377 per year.
5. Information Technology Auditor
You will have to make use of the computer technology systems of the organization to find out the associated risks in those systems. Furthermore, you will have to prepare annual reports and recommend solutions.
To work in this designation, an applicant needs to have a bachelor’s degree in IT, computer science, Management information system, etc. Having strong knowledge in business, accounting and finance also helps.
- The 75 percentile of the per year salary figure of an information technology auditor looks like – $109,500.
6. Insurance Advisor
As an insurance advisor, you will have to help the clients to choose the right insurance policies for them. Apart from that, you will also have to assess the risks and capabilities of the clients.
Applicants need a strong skill in finance and accounting. They should also have a good grasp of how the insurance industry works and strong analytical skills.
- Professionals in this position earn an annual salary of $109,833 per year.
7. Financial Analyst
This is one of the most important job roles in every finance company in the industry. You will have to analyze future financial outcomes and evaluate the performance of investments by looking at the market situation. Hence, you will be responsible for guiding others.
Some of the key responsibilities of these professionals include creating reports and data forecasts for better decision making.
- The average per year salary of a financial analyst is $67000.
8. Compliance Analyst
Here, you will have to ensure that all the financial practices of the company comply with the regulatory standards of the market. Here, you will also have to understand the ins and outs of laws related to finance, and you must have a good idea of the accounting field as well.
You usually need to have a bachelor’s degree in accounting or similar field for a job as a compliance analyst.
- They usually earn a median salary of $67280 per year.
9. Investment Advisor
In this job, as the name suggests, you will be advising clients as well as the company about what to invest in. Hence, you will also need to have a good knowledge of financial analysis, taxes, insurance, and shares.
Applicants will need a bachelor’s degree in finance, marketing or business sector to apply for the role of an investment advisor.
- You can expect a median salary of $137,000 per year as an investment advisor.
10. Hedge Fund Manager
As a Hedge Fund Manager, you will be working with top investment firms to manage hedge funds on behalf of the investors. This is also a really well-paying job, as your decisions will ensure the performance of funds and the number of returns from a particular investment.
Having a bachelor’s master’s degree or Phd in math, economics, financial engineering, etc will help you.
- You can expect a salary of $135,399 per year.
In this article, we mainly discussed the best paying jobs in finance consumer services. Based on your skills, expertise, and motivation, you can choose the best job for yourself. The best part about jobs in finance consumer services is that you will have the chance to grow, and the more you enhance your expertise in the field, the more valuable your services will be. What is your dream job in the finance consumer services field? Feel free to share with us in the comments below.