Financial and Purchasing Management Careers | Financial Services Manager

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 $94,216

*The salaries depicted here are representative of the range of salaries posted in job listings over the past year. Living wage in North Carolina is $30,000.

National

The average salary in the United States for those pursuing this career is $97,659

*The salaries depicted here are representative of the range of salaries posted in job listings over the past year. Living wage in North Carolina is $30,000.

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:

LocationGrowth
North Carolina256+24.2%
Nationwide6076+18.7%

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.
  • 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.
  • Accounting: Experience maintaining and verifying the business records of a person or business and preparing forms and reports for financial purposes.
  • 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:

  • Executive Presence: Ability to demonstrate leadership in a room through demeanor, body language, tone of voice, and emotional resilience.
  • 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.
  • 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.
  • Mergers and Acquisitions: Mergers and acquisitions (M&A) are transactions in which the ownership of companies, other business organizations or their operating units are transferred or combined.
  • Business Acumen: Keenness and quickness in understanding and dealing with business situations in a manner that is likely to lead to good outcomes.

Salary Boosting Skills

A professional who wishes to excel in this career path may consider developing the following highly valued skills:

  • Enterprise Software: Enterprise software, also known as enterprise application software (EAS), is computer software used to satisfy the needs of an organization rather than individual users.

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 years7%
3 to 5 years45%
6 to 8 years22%

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 Technology - Executive Support Services
  • Director Of Financial Services
  • Transaction Advisory Services Manager
  • Financial Services - Tax Manager

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