Careers in Financial Services
Financial services are the economic services provided by the finance industry, which encompasses a wide range of businesses that manage money, including credit unions, banks, credit-card companies, insurance firms, accountancy companies and stock brokerages. They help people and businesses manage their finances, and invest and save money. Financial services also support economic growth by allowing individuals to buy more goods and services, and by enabling companies to raise capital through the stock market.
The most common types of financial services are banking, investment and insurance. Banks provide a wide range of financial services, such as checking accounts, saving accounts, loans and credit cards. They also offer other services, such as transferring money electronically and notary services. Investment banks are a separate category of financial services that focus on helping businesses raise money through debt and equity markets. They also provide advisory and wealth management services.
Another type of financial service is asset management, which involves managing pensions, insurance assets and hedge funds. Many financial services companies specialize in a specific area, but some are conglomerates that operate in more than one sector of the industry.
Careers in financial services are often rewarding, and they can offer good job security. In addition, working in financial services can develop excellent interpersonal skills that are useful in other industries. Additionally, jobs in the field are not location specific, so workers can move between cities and companies easily. However, if you choose to work in financial services, it is important to understand the pros and cons of this industry.
