Financial Services

Job Title and Overview

Financial services is an umbrella term encompassing any profession which helps facilitate the movement of financial goods and services between businesses and consumers. When the economy is strong, this industry is thriving. Jobs range from investment bankers to insurance appraisers to bank tellers.

Education, Experience, and Pathways

• Positions for high school graduates versus college graduates are different.
• High school diploma: Bills and account collectors, credit authorizers, checkers and clerks, tellers, insurance claims processing clerks.
• Associate's degree: Brokerage clerks, insurance appraisers, loan interviewers and clerks, tax preparers.
• High graduates can take an entry level position, build capital to attain higher levels of education, then return back to a more lucrative financial services position.

Essential Job Skills 

• Analytic problem-solver: People in the financial services industry must be able to analyze data and draw important and logical conclusions.
• Customer service enthusiasm: Professionals are almost always working with clients, so communicating well is key to maintaining positive relationships.
• Market Awareness: Daily events constantly affect the exchange of money , so workers must stay informed on economic trends and market patterns.

Workplace Environment and Salary

• Can sometimes be fast-paced and high stress.
• Generally consistent hours, but is a cyclical industry with hiring rampant during economic booms but layoffs common during economic downturns.
• Financial Services Specialists Median Salary in Durham: $76,570.
• A teller, which is a more common entry position, has a median salary of $36,310 in Durham.

Additional Certificates and Credentials

• Certified Financial Planner (CFP)
• Requirements: Bachelor's degree before or within five years of taking exam, have 6,000 hours of experience, complete CFP registered coursework, and pass exam.
• Chartered Management Accountant (CMA)
• Must have two years of experience and a bachelor's degree.
• CFA Institute Investment Foundations Certificate
• Must pass six courses and a final assessment over 12 months.
• Can use this certificate to later get the more prestigious CFA Chartered Financial Analyst certificate, which requires 36 months of experience

Skills for Directorial and Executive Leadership

• Become an executive leader by networking with mentors, building out your resume, and pursuing more certifications and higher levels of degrees.
• Executive leaders must have polished communication and professional skills to deal with C-suite executives.
• Must possess change management skills which acknowledge the emerging role of technology in driving change forward in an increasingly competitive market, and strategic leaders who predict market trends to create forward-looking growth plans.

Available Resources