Financial Services Manager
Career Area: Finance
Occupation Group: Financial Managers
Salary
Percentile wages tell how much a certain percentage of an overall population in a geographic area or within a given industry or field makes. The percentile wage estimate is the value of a wage below which a certain percent of workers fall.
An example would be the 25th percentile, 25 percent of workers employed in that occupation earn less and 75 percent earn more than the estimated wage value. At the 75th percentile, 75 percent of workers employed in that occupation earn less and 25 percent earn more than the estimated wage value.
A typical Financial Services Manager earns the following wages (national and state):
State
The average salary in North Carolina for those pursuing this career is $91,965
National
The average salary in the United States for those pursuing this career is $97,667
What Does a Professional in this Career Do?
Manages an organization's financial or insurance services. Supervises other financial services professionals. Coordinates with sales and marketing on financial services placement to customers.
Employment Trends
The job demand and job growth statistics shown here were derived from job posts over the past year. Expected job growth projections are extrapolated from year-over-year job post listing history.
Job demand and job growth is expected at the following rates:
| Location | Growth | |
|---|---|---|
| North Carolina | 259 | +21.5% |
| Nationwide | 6979 | +16% |
Skills
A professional in this position typically utilizes the following skills in the course of everyday work in this exciting and challenging field:
Baseline Skills
The following are baseline skills every Financial Services Manager is expected to have in order to experience success in this field:
- Communication Skills: The ability to convey information to another effectively and efficiently.
- Teamwork / Collaboration: Experience working in collaborative efforts with a team to achieve a common goal or to complete a task in the most effective and efficient way.
- Microsoft Excel: Microsoft Excel is a spreadsheet developed by Microsoft for Windows, macOS, Android and iOS. It features calculation, graphing tools, pivot tables, and a macro programming language called Visual Basic for Applications.
- Planning: Working experience with the process of thinking about and organizing the activities required to achieve desired goals.
- Problem Solving: Problem solving consists of using generic or ad hoc methods, in an orderly manner, for finding solutions to problems.
Specialized Skills
These skills are specific to working in this career:
- Budgeting: Experience planning how the financial resources of a business or department are to be allocated during the next business period.
- Accounting: Experience maintaining and verifying the business records of a person or business and preparing forms and reports for financial purposes.
- Project Management: Project management is the discipline of initiating, planning, executing, controlling, and closing the work of a team to achieve specific goals and meet specific success criteria.
- Business Development: Business development entails tasks and processes to develop and implement growth opportunities within and between organizations.
- Staff Management: Working experience with the management of subordinates in an organization.
Distinguishing Skills
Any Financial Services Manager that possesses the following skills will stand out against the competition:
- Private Equity: Working experience of Private Equity, which typically refers to investment funds organized as limited partnerships that are not publicly traded and whose investors are typically large institutional investors, university endowments, or wealthy individuals.
- Management Consulting: Management consulting is the practice of helping organizations to improve their performance, operating primarily through the analysis of existing organizational problems and the development of plans for improvement.
- Financial Management: Financial management refers to the efficient and effective management of money (funds) in such a manner as to accomplish the objectives of the organization.
- Business Acumen: Keenness and quickness in understanding and dealing with business situations in a manner that is likely to lead to good outcomes.
- Business Strategy: Strategic management is the formulation and implementation of the major goals and initiatives taken by a company's top management on behalf of owners, based on consideration of resources and an assessment of the internal and external environments in which the organization competes.
Salary Boosting Skills
A professional who wishes to excel in this career path may consider developing the following highly valued skills:
- Financial Acumen: Maintaining and applying a broad understanding of financial management principles to ensure decisions are fiscally sound and responsible.
Experience
This position typically requires the following level of experience. The numbers presented in the pie charts below were derived from actual job posts over the past year. Not all job postings list experience requirements.
| Experience Required | % |
| 0 to 2 years | 8% |
| 3 to 5 years | 43% |
| 6 to 8 years | 25% |
Many of the programs offered through NC State are designed for working professionals who need additional credentials to enhance existing work experience.
Students who do not have the expected level of experience may wish to look into internship and employment opportunities.
Common Job Titles
It is possible to find work in this field in positions commonly listed as the following job titles:
- Financial Services Manager
- Director Of Financial Services
- Actuarial Services Director
- Financial Services Banking, Insurance Capital Markets Consulting - Director
- Transaction Advisory Services Manager
Similar Occupations
If you are interested in exploring similar occupations, you may want to research the following job titles: