If you’re doubting whether the finance consumer services are a good career path before you venture into it, then this article will help you unravel everything behind it.
Trying to find out more about the finance consumer services isn’t a bad thing. At least, you’ll get to know how it will support your career development.
Most especially when different careers require different skills and experiences, you cannot just look at one career or profession in isolation.
As such, there’s a need to consider the finance consumer services within the context of a long-term career plans and goals.
What is finance consumer services?
Finance consumer services or retail finance services are financial services that are offered to the final consumers.
It could also mean all the personal finance advice offered by financial experts for the benefits of consumers and business owners alike.
That is to say, as an agent working in the finance consumer services industry, you could either work with small business owners and their employees as well as individual.
Importantly, the personal aspect of this industry can be appealing sometimes as you’ll be interacting with your customers one-on-one to help them have better understanding of their finances.
Skills and qualifications to possess before working in the financial consumer services industry
As an individual who is passionate about starting a career in the finance consumer services, there are some certain skill sets you need to possess.
While these skills are part of the prerequisite to having a career in the industry, in case you don’t have them now, you still have the time now.
On this note, you might want to consider the following personal skill sets before hand:
A. Communication skills
Working in the finance consumer services requires a good communication skill. Remember, your major job is to interact and give financial advises to clients.
Hence, having a strong communication skill will help you relate well with your customers and colleagues.
B. Computer literate
Another skill set to possess before venturing into finance consumer services is the ability to use the computer system.
Depending on the sector you found yourself, the finance consumer services industry makes use of some financial software that only computer literate can understand.
C. Ability to work under pressure
If you can’t work under pressure don’t even approach the finance consumer industry. Pressure abounds and if you don’t like pressure you’ll be able to function well.
D. Interpersonal relation skills
Another skill you need to acquire before going into the finance consumer services industry is interpersonal relation skills.
If you don’t derive pleasure in interacting with people, as good as this career path is, you’ll definitely suffer because you’ll be faced with clients who are after financial advises.
E. Ability to meet deadline
You’ll be faced with so many tasks at a time and the only way to scale through them is if you are fast enough to meet deadline.
F. Understanding of financial concepts
You can’t work or succeed in the finance consumer services industry if you don’t have a strong understanding of financial concepts and principles.
These are the basic things that will help you solve your customers problems and what will keep propelling as a finance expert.
G. Strong educational background
As an individual who is so passionate about working in the financial services sector, part of the requirements is that you have a strong educational background in accounting, finance, or economics.
Is Finance Consumer Services a Good Career Path?
Working in the finance consumer services can be very challenging and rewarding at the same time.
The industry offers variants of career opportunities ranging from working in the financial institutions like Banks down to working in the insurance, public sector, securities and investment industry, etc.
So if you care to know if the finance consumer services are a good career path, I’ll definitely answer your question in affirmative.
The finance consumer services is a good career path because of so many reasons.
Part of them is that you’ll have the opportunity directly interact with your customers to learn more of their requirements.
Not only that, you’ll get to study your customers behavior, have their feedbacks and you’ll learn more about the current demands in the markets.
Benefits of working in the finance consumer services industry
At this juncture, you must note that the finance sector is highly competitive with many jobs requiring highly skilled and qualified workers.
As a result, individuals who are interested in working in the finance sector need to be ready to invest their time and effort in education and training.
Some of these benefits are:
• Financial lucrativeness: Working in the finance consumer services industry means your salary payment will be robust and tempting.
• Impact knowledge: Since your duty is to help people manage and improve their financial situation, you’ll definitely feel fulfilled impacting financial knowledge to people
• You learn more: Another benefit of working in this industry is that you’ll have the chance to learn more about different financial products and services.
The job outlook and most popular career in the finance consumer services sector
Without any iota of doubt, the job outlook for the finance consumer services sector is yielding positively.
Between 2016 and 2026, the sector is expected to grow at an encouraging rate of 5%. This growth will be driven by some factors.
Other than these factors, the job outlook will increment will be driven by the aging population, increasing demand for finance consumer services and the economy globalization.
Below are some of the most sought after jobs in the finance consumer services industry:
- Financial Analyst;
- Financial Manager;
- Tax Examiner;
- Loan Officer; and
- Personal Financial Advisor, etc.
Benefits package for employees in the financial consumer services industry
The benefits package for the financial consumer services employees is competitive.
These packages are in form of remunerations to be given to the employees apart from their basic salary.
The common benefits for the finance consumer services industry include:
- Health insurance;
- Tuition reimbursement;
- Retirement plans;
- Dental insurance;
- Vision insurance;
- Employee assistance programs, etc.
Got any question regarding the finance consumer services industry? Don’t hesitate to use the comment section. Thank YOU!