There are many people who dream of working in the finance industry but don’t know how to get their foot in the door. Whether you want to work in banking, investing, or insurance, it’s helpful to understand what companies in each field look for in new employees and what education you should consider before you apply. This guide will give you insight into the different finance job opportunities and how to find them in Dallas, Texas.
6 Top Financial Services Jobs
As a financial professional, your job is to help individuals and businesses find ways to responsibly manage their money. If you’re interested in helping people take control of their finances, consider one of these jobs
Job 1: Insurance Underwriter
An insurance underwriter is responsible for assessing risks and analyzing financial information and negotiating with companies to determine what types of policies they will provide coverage for. Insurance underwriters typically work as part of a team that includes accountants, agents, and actuaries. The median salary for an insurance underwriter is $87,030 per year. A career as an insurance underwriter might be the perfect fit if you enjoy math and want to earn six-figure salaries.
There are a few requirements you will need to meet to become an insurance underwriter. Most employers require a bachelor’s degree in actuarial science, economics, mathematics, or statistics. In some cases, you might only need a high school diploma and extensive work experience; however, jobs that don’t require any formal education or certifications typically pay far less than six-figure salaries. You also must take state licensing exams after completing your education and training.
Job 2: Financial Planner
The work of a financial planner is to help their clients plan for and manage their finances. The services they provide may include retirement planning, managing investments, insurance planning, budgeting, and education about money. Financial planners usually have to have at least an undergraduate degree. There are also many professional designations that a person can receive once they are qualified as a financial planner including the Certified Financial Planner (CFP) designation or Chartered Financial Consultant (ChFC).
Financial planners receive an average salary of $90,000 per year. To become a financial planner you will need at least an undergraduate degree and some type of certification. After meeting the requirements, it is important to get experience in this field so you can be successful. For example, working at a bank or credit union would give them the experience they need. You should start by looking into local banks and seeing if there are any openings that match your qualifications.
Financial planners in Dallas typically earn between $90,000 and $105,000 per year. Working with a company like Merrill Lynch or JP Morgan Chase would put someone on the fast track to making six figures annually.
Job 3: Accountant
The accountant is responsible for maintaining the integrity of a company’s financial records and reporting on financial status. They do this by tracking cash flows, reconciling bank statements, and generally accounting for every dollar that goes into or out of the company. Accountants may also manage all aspects of an organization’s accounting and payroll.
In a large corporation, you may work for general accounting or specialized branches such as cost accounting or tax accounting. In private industry, accountants are found at banks and insurance companies; in government and nonprofit organizations, they work for treasurers and controllers. The growth of computerized information systems has resulted in a decline of bookkeeping jobs but an increase in accounting jobs.
Accountants in Dallas earn around $53,000 per year with starting salaries averaging around $35,000 per year. The median salary ranges from $43,900 to $71,700 per year depending on experience and education level. Work hours can be irregular and unpredictable because many accountants work until clients have completed their business for the day. You’ll need to be detail-oriented with strong mathematical skills. A bachelor’s degree is needed to enter most positions so plan to invest 4 years in college if you want a career as an accountant!
Job 4: Personal Banker
A personal banker is responsible for assisting customers with their financial needs, including checking accounts, savings accounts, certificates of deposit, and loans. Personal bankers typically work in branches or customer service centers. They may also provide assistance over the phone or through an online banking portal. Typical education requirements are a high school diploma and coursework in business or finance.
Personal bankers in Dallas earn approximately $54,000 per year. The minimum requirement for this position is a high school diploma and courses in business or finance. There are plenty of opportunities for growth here because you can work your way up to branch manager if you’re willing to put in the time and effort.
Job 5: Treasury Analyst
The treasury analyst oversees the cash flow and investments of a company. They will work with the Chief Financial Officer to determine budgets, forecast future earnings, and present financial information to management. A typical day for a Treasury Analyst may include reviewing bank statements and reconciling the accounts, preparing reports on short-term trends in foreign exchange rates or commodity prices, analyzing investment opportunities, reviewing loan applications, and recommending which ones should be approved.
Oftentimes this job requires some expertise with accounting software such as Oracle Financials or SAP Business One.
Treasury analysts in Dallas earn $59,400 annually on average. They must have an undergraduate degree in finance, economics, mathematics or business administration from an accredited university. Furthermore, they must have at least two years of experience as a financial analyst before being considered for this position.
Job 6: Personal Financial Advisor
The work of a personal financial advisor is to help people with their finances. They provide guidance to individuals, families, and organizations on issues such as taxes, retirement planning, insurance, and estate planning. A lot of the time they are working with people who have assets worth more than $1 million. They will also educate them about investment strategies and investment management strategies that may suit their needs better than other types of investments.
Personal Financial Advisors in Dallas earn an average salary of $87,060 annually. To become a personal financial advisor you need to get a bachelor’s degree from a 4-year college or university.