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What is a "job in the financial industry" where foreigners can expect a high annual salary? Job descriptions and salaries are explained!

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Foreign men working in the financial industry

The financial industry is known for its high annual salaries and generous benefits packages, making it a coveted workplace for many. The industry includes a variety of fields, such as investment banking, insurance, and asset management, each with distinctive job titles and annual salaries.

Recently, riding the wave of globalization, companies are actively recruiting human resources not only from Japan but also from overseas. This is especially true for companies that are expanding their business overseas, and human resources with diverse backgrounds are in high demand.

Therefore, for those of you who are looking for a career in the financial industry, we would like to share with you which jobs offer the highest income potential, what each job entails, who is suited for it, and what skills are necessary. We hope this information will be helpful to you as you dream of a successful career in the financial industry.

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What is a job in the financial industry?

The financial industry plays an integral role in supporting our daily lives and social economy. This sector includes banks, securities firms, insurance companies, and credit card companies with which we are all familiar in our daily lives, each offering a variety of services.

People who work here include "salespeople" who provide customers with loan counseling and asset management advice, "clerical staff" who handle support tasks such as answering phones and organizing data in the office, and "financial advisors" who create plans tailored to individuals' financial situations.

Know the difference in perception of "work" between Japan and other countries.

Income in the financial industry varies greatly depending on the type of job, but in Japan, long service tends to directly lead to higher income. This is due to the seniority system, which is unique to Japan. Overseas, however, individual performance and results tend to be directly related to income, and income increases or decreases according to job performance, making the income disparity by job type and position more pronounced. It is important to understand this cultural difference and to assess the work environment in Japan and abroad when considering your own career path.

5 Japanese financial industry jobs with high annual salary expectations for foreigners

The financial industry is diverse, and some sectors are particularly active in hiring foreigners.

Below are the top five occupations with particularly high income potential. These positions are recommended for those looking to build a career in a foreign country, as they can expect particularly high annual salaries and often actively recruit foreign employees.

The average annual salary and recommended companies for each job category should be used as a guide.

1. bank

  • DutiesBanking operations are divided into megabanks, regional banks, trust banks, and Internet banks, each with a different customer base. The banking business is divided into general and career-track positions, with the career-track positions having more important responsibilities with the possibility of relocation.
  • average annual incomeThe general employment position is approximately 3 to 4 million yen, and the career-track position is approximately 6 to 7.5 million yen.
  • Recommended BanksSumitomo Mitsui Banking Corporation, Mitsubishi UFJ Bank, Mizuho Bank, Resona Bank.
  • Recommended for: Those who seek stability.

The banking industry can be broadly divided into the following categories: megabanks, regional banks, trust banks, and Internet banks. Each serves a different customer base, and as a result, there are differences in business operations and employee salaries.

In general, most banks have two types of positions: "general positions" and "career-track positions. General positions are mainly responsible for counter work and clerical work, and are generally based in the local area, with few transfers. Some banks also hire high school graduates for these positions.

On the other hand, career-track positions often require a college degree or higher, are in charge of important tasks that form the core of the bank's operations, and may require relocation to other parts of Japan and sometimes overseas. Extensive business knowledge and skills are required, and there are many opportunities for career advancement.

Banks generally have two types of positions: general positions, which mainly involve customer service and clerical work at the counter, and career-track positions, which are more strategic or managerial in nature. General positions are often based in the local area and are less likely to require relocation, while career-track positions may require relocation throughout the country and sometimes even overseas. General career track positions require extensive business knowledge and skills and offer many opportunities for career advancement.

2. securities firms

  • DutiesThe company offers the following services: stock brokerage, dealer services, selling services, underwriting, etc.
  • average annual incomeApproximately 5-6 million yen; 10 million yen or more possible depending on results.
  • Recommended Brokerage FirmsNomura Holdings, Mitsubishi UFJ Holdings, and Daiwa Securities Group.
  • Recommended for: Aggressive person who aims for high income.

There are four main areas of brokerage business. Brokerage" involves brokering stock transactions on behalf of clients. In the "dealer business," the brokerage firm itself trades stocks and pursues profits. Selling operations" are in charge of offering and selling newly issued securities. Underwriters are responsible for the sale of debt securities that have been underwritten by companies.

The salary structure of brokerage firms is generally based on a quota or commission system in which compensation varies according to performance, and the higher the performance, the higher the salary.

3. insurance company

  • Duties; primarily life and non-life insurance sales.
  • average annual incomeApproximately 2.5 to 6 million yen; 10 million yen or more possible depending on results.
  • Recommended Insurance Companies: Tokio Marine & Nichido Fire Insurance, SOMPO Holdings, Sumitomo Life Insurance.
  • Recommended forCustomer Service: Those who want to work closely with their customers.

The main work of insurance companies involves sales activities related to proposing and selling "life insurance" for injuries and illnesses and "non-life insurance" for accidents and disasters. In this industry, salespeople play a central role, and their primary role is to propose insurance products to customers and conclude contracts.

Within the financial industry, the insurance industry is considered relatively easy to find a job. However, the salary structure of insurance companies is mostly based on commission, and the salary is directly reflected on the individual's performance. Therefore, if you can achieve high results, you can greatly increase your income. However, if you cannot produce good results, your income will be low, and many people leave the industry.

4. credit card companies

  • DutiesSales, planning, debt management, systems development, customer service, etc.
  • average annual incomeThe major ones are 7 to 8 million yen.
  • Recommended Company: AEON Financial Service, Mitsubishi UFJ Financial Group, and Credit Saison.
  • target group: Those who want to work in a well-organized working environment.

Duties at a credit card company cover a wide range of areas, including sales, product planning, debt management, systems development, and customer service. These jobs cover many aspects of the credit card business, from planning new card products, managing customer credit, developing and maintaining technical systems, and handling customer inquiries.

In addition, the credit card industry offers a full range of benefits and leave programs, providing an environment in which employees from diverse backgrounds can thrive. As a result, many foreign employees, regardless of nationality, also find it easy to work in this industry.

5. leasing company

  • DutiesThe following services are available: sales, examination and legal, asset management, accounting, etc.
  • average annual incomeApproximately 3.5 to 6 million yen; major companies: 8 million yen or more.
  • Recommended leasing companies: Sumitomo Mitsui Finance and Leasing, Mizuho Leasing, and Orix.
  • target group: Strong corporate sales background.

The leasing industry provides long-term leasing of equipment and apparatus to businesses and individuals. The scope of duties in this field is diverse, including "sales," "examination and legal," "asset management," and "accounting," each of which requires specialization.

Sales professionals develop new clients and maintain existing client relationships. In review and legal affairs, they review contracts and manage risk. And asset management manages the condition of equipment to be leased, while accounting manages the company's financial reports and budgets.

As more and more companies seek to expand into global markets, the leasing industry is also accelerating its international business development. For this reason, we are actively recruiting foreign employees with excellent language skills who can handle multiple languages.

Skills and qualifications required for jobs in the financial industry

Certain skills and qualifications are essential for a successful career in the financial industry. Here are three skill sets that are particularly important for success in the financial industry and three leading certifications that will help you advance your career. These skills and certifications will give you a competitive edge in the financial industry and further enhance your career.

Skills required in the financial industry

  • language ability
  • communication skills
  • Information gathering skills

1. language skills

In the financial industry, it is very important to be fluent in multiple languages, including English, because international transactions are frequently conducted, not to mention the understanding of technical terms. In particular, the ability to communicate smoothly in international languages such as English and Chinese is a great advantage in global business situations.

2. communication skills

In the financial industry, success depends on building deep, trusting relationships with customers. Therefore, clear and effective communication skills are essential to accurately understand customer needs and provide optimal service.

3. information gathering skills

Financial markets are constantly fluctuating and new trends and policies emerge daily. To adapt to this rapid change, you must be able to quickly gather and analyze the latest information on domestic and international financial conditions. This enables us to advise our clients with foresight.

4. qualifications

Qualifications that are useful to have in the financial industry

  • financial planner
  • JCCI Bookkeeping
  • Business Accounting Certification Examination, etc.

1. financial planner (FP)

This certification will provide you with extensive knowledge of a wide range of money-related topics, including taxes, pensions, real estate, and investments. This knowledge provides the foundation for providing quality financial advice to clients and helps establish you as a reliable professional.

2. jsho bookkeeping

The Nissho Bookkeeping Certificate provides basic skills to accurately assess a company's financial situation and to perform business management and analysis. This certification recognizes the ability to provide valuable advice to a company's management as an accounting professional.

3. business accounting examinations

By obtaining this certification, you will acquire the skills to read and analyze financial statements. In particular, the ability to provide financial information necessary to make business decisions is directly related to success in the business world and is advantageous for building a career in any industry.

Who is suited for the financial industry?

The financial industry requires a diverse range of skills, from detailed data analysis to building deep relationships with customers. In particular, the following characteristics make you a good fit for this industry

The financial industry requires a variety of personnel depending on the type of job, but is primarily suited to the following types of people.

  • Serious and methodicalThe work requires: Attention to detail and care. Ensuring the accuracy and reliability of data is fundamental to our work.
  • good with figuresThe following is a brief overview of the program: a strong understanding of numbers is required, as the program often deals with numbers, such as financial analysis and budget planning.
  • Strong sense of responsibilityThe following is a brief summary of the company's business activities: High ethical standards and a sense of responsibility are essential when dealing with client assets.
  • Good communication skillsCustomer Relationship Building: Building trusting relationships with customers requires excellent communication skills.

What will happen to employment in the Japanese financial industry in the future?

Japan's financial industry is expected to see a decline in the number of loans and insurance policies due to the declining birthrate and aging population. In response, many companies are seeking new sources of revenue by expanding into overseas markets.

This move will increase demand for personnel with language skills and international business savvy, and in particular, the hiring of talented foreigners with language skills such as English and Chinese will be aggressive.

At the same time, however, the overall number of jobs is expected to decline as digitization and information technology advancements make business processes more efficient.

The future of the financial industry will require a new way of working that combines the power of technology with the skills of people.

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summary

In this article, we have described job descriptions and salaries in the financial industry, as well as aptitudes and necessary skills.

The financial services industry is known for its high average salary levels and comfortable working environment compared to many other industries. As a result, it is an attractive place to work for many people, and because of this, competition for jobs and career changes is fierce.

The financial industry offers a wide variety of positions, each requiring different skills and expertise. Therefore, if you are seeking a job or career change in the financial industry, it is extremely important to identify a position where you can utilize your skills and experience. The key to success is to closely monitor job postings to find the best career path for you.

Furthermore, there are a wide variety of career opportunities outside of the financial industry in Japan. To provide you with more options, please check out the following articles!

・The latest ranking of Japanese companies actively recruiting foreign nationals!
The Complete Guide to Finding a Job in Japan! Finding a job, changing jobs, and part-time work for foreigners

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