Is Finance Consumer Services a Good Career Path? (With Jobs)

Finance consumer services provide individuals with access to credit, savings, insurance and investment products. These services help people manage their finances, plan for the future and protect themselves from financial risks. If you want to explore a career in this field, learning more about various career paths can help you find a suitable job that aligns with your interests, experience and skill set.

In this article, we discuss finance consumer services and the factors that make finance consumer services a good career path, and we share a list of jobs to consider in this field.

What are finance consumer services?

Finance consumer services offer people a wide range of products for a variety of purposes, such as assessing financial risks, assisting an individual with tax returns or handling asset management. The services include current and savings accounts, credit cards, insurance and payment services. These services help consumers to find the best financial products and services that fit their needs and goals. They also help improve the overall financial well-being of customers by reducing financial stress, improving their credit scores and increasing their savings and investments.

Related: Your Guide to Careers in Finance

Is finance consumer services a good career path?

Here are some reasons that make finance consumer services a good career path:

• Competitive salaries: Jobs in consumer finance services typically offer competitive salaries and benefits, such as bonuses, commissions and profit sharing. With more experience, individuals get higher salaries and advance to higher-level positions.

• Growing job opportunities: Finance consumer services include jobs such as financial advisor, financial planner, banker, investment analyst and insurance agent. These roles provide opportunities for individuals with different skills and interests for career growth.

• Transferable skills: The skills developed in finance consumer services, such as financial analysis, risk management and communication, are transferable to other fields and can provide opportunities for career advancement in a variety of industries.

Related: What Can You Do With a Finance Degree? (With Degree Types)

Jobs in finance consumer services

Here are careers you can consider in the field. For the most up-to-date salary information from Indeed, visit indeed.com/salaries.

1. Compliance officer

National average salary: $67,638 per year

Primary duties: Compliance officers ensure all activities involved in companies comply with government regulations. They monitor all operational processes and procedures and create effective action plans for any compliance violations. They conduct compliance risk assessments and audits and interpret these reports for various departments. Compliance officers also educate employees on the latest regulations and processes.

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Related: Financial Compliance (Plus Regulations, Challenges and Tips)

2. Underwriter

National average salary: $71,558 per year

Primary duties: Underwriters analyze financial data related to loan requests and review insurance applications for compliance. They assess and verify the background information and financial status of clients. They negotiate and define the specific terms of insurance policies with policyholders. Underwriters also record loan denials and specific reasons for declining applications.

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Related: What Is Underwriting? Definition, Types and How It Works

3. Financial analyst

National average salary: $72,077 per year

Primary duties: Financial analysts oversee research tasks to manage financial strategies and investment decisions for companies or clients. They study the financial statements of companies to determine their value and report on financial performance. They create financial models, recommend investments and modifications to client portfolios and identify trends for improvements.

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Read more: How To Become a Financial Analyst

4. Investment banker

National average salary: $83,948 per year

Primary duties: Investment bankers provide financial advice and services to companies. They conduct strategic research and due diligence investigations. They issue debt and sell equity to raise capital and manage relationships with investors. Some investment bankers also develop and maintain financial models and other analytical tools to support client transactions.

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Related: Pros and Cons of Being an Investment Banker

5. Auditor

National average salary: $92,970 per year

Primary duties: Auditors plan and perform audits while investigating instances of possible fraud. They monitor compliance with industry standards, laws and guidelines. They evaluate the appropriateness of accounting policies used in companies along with accounting estimates. Auditors also research discrepancies, operational problems and other issues and report them to the management.

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Read more: What Does an Auditor Do? A Complete Guide

6. Equity analyst

National average salary: $102,684 per year

Primary duties: Equity analysts study statements, earnings reports and other financial data to understand the financial health of the companies. They analyze information from investment banking firms, trade publications, financial publications and government agencies. They develop financial models to forecast companies' future earnings and cash flows. Equity analysts also write publications to present to shareholders and investors.

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Related: What Is Equity in Business? (Plus How To Calculate It)

7. Hedge fund analyst

National average salary: $110,761 per year

Primary duties: Hedge fund analysts oversee and manage short-term and long-term investments in hedge fund portfolios. They may suggest potential investments to hedge fund managers based on market research and trend analysis of stocks and bonds. They also offer investment advisory services to investors and communicate new investment products and their portfolios' performance.

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Read more: How To Start a Hedge Fund Career (With Salary and Job Outlook)

8. Chief financial officer

National average salary: $148,754 per year

Primary duties: Chief financial officers (CFOs) oversee the financial planning of companies and provide strategic financial advice to chief executive officers (CEOs) and other C-suite executives. They evaluate the organization's capital structure, fundraising plans and investment strategies by considering cash and liquidity risks. They oversee the finance IT systems of companies while determining finance key performance indicators (KPIs). CFOs also supervise finance personnel such as financial advisors, financial consultants and analysts to help manage investment strategies.

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Read more: CFO Job Descriptions (With an Overview of the Position)

9. Loan officer

National average salary: $175,034 per year

Primary duties: Loan officers process loan applications by evaluating their creditworthiness and authorize the approval of credit, business or real estate loans. They submit reviewed applications to management for approval or rejection of the loan. They educate clients on policies and regulations. Loan officers also recommend effective solutions to quicken the loan processes.

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