What Jobs Are Available For Former Military in Finance?

financeLooking at the jobs available for former military in finance is a smart idea for anyone about to leave a military career behind. You can enlist in the military for as little as two years or for decades, but you need to give some thought to what you want to do later. Working in the military gives you the chance to develop strong language skills when stationed overseas and to get experience working with a wide range of people. Some of those skills translate well into different types of finance jobs.

Lending Agent

Working as a lending agent is one idea for those interested in the types of jobs available for former military in finance. Lending agents work for banks and other financial institutions with a lending department. They meet with clients and go over the paperwork and documents that those clients file prior to receiving a loan. Lending agents look at an applicant’s total amount of debt, the amount of income they receive each year and other factors to determine if the person qualifies for a loan. The military teaches you how to work with others, which can help you in this field.

Insurance Sales Agent

Military personnel see the effects of war and economical problems every time they step onto the battlefield. You see first-hand how even the smallest of issues can impact a large group of people, and as an insurance sales agent, you can talk with your clients and make them understand the issues they might face. According to the Bureau of Labor Statistics, the median annual salary of insurance sales agents is $48,150, and the BLS estimates that the demand for insurance agents will increase by 10 percent by 2022. These agents work with clients to identify their insurance needs and find products that will meet those needs.

Accountant

If you have the chance to take college classes through a military degree program, consider taking accounting classes. Once you leave the military, you can use your degree to enter a graduate program and gain the minimum amount of experience required to sit for the Certified Public Accountant examination or to get a license in your state. Accountants do a variety of tasks on the job. They help prepare financial documents for companies, take care of tax preparation for individuals and business owners and work with the financial department of a company to determine its budget and operating costs.

Credit Manager

The jobs available for former military in finance also include jobs in credit management positions. A credit manager is someone who works with an individual to lower his or her debt. Individuals can have unsecured debt, including credit cards, and secured lines of debt such as a mortgage or car loan. Credit managers go over the basics with their clients and help them realize how a high line of debt can damage them. They also look for alternatives to those debts and work out repayment plans that let clients pay off their debts faster.

Related Resource: Social Work Jobs

While some people make the military their career, others later leave the military behind in favor of the private sector. Your background gives you experience working with others who have different backgrounds, and you also develop specific skills. The types of jobs available for former military in finance that might appeal to you include credit management, lending agent, insurance sales and accounting jobs.