Financial services are economic services provided by the finance industry, which encompasses a broad range of businesses that manage money, including credit unions, banks, credit-card companies, insurance firms, securities brokers and traders, investment funds, and many other businesses. Financial services companies provide individuals, small businesses, large corporations, and even governments with the financial tools necessary to pursue their economic goals. The sector thrives when interest rates are moderate and there is a balance between regulation and the freedom of financial services companies to innovate and expand their offerings.
The scope of financial services is vast, and a career in the field can be highly rewarding. Those working in this industry may specialize in specific areas, but they are also likely to work with different types of customers. Typically, job security is high for those in this sector, and the pay is competitive.
Depending on the size of the company, employees in this field may be eligible for health and life insurance, as well as retirement and other benefits packages. These firms are also known for investing in their staff and encouraging continuing education. They are also likely to promote from within, favoring aptitude over tenure.
While a degree isn’t always necessary to begin a career in financial services, it can make the difference when looking for an entry-level position. As with other industries, there are often a variety of entry-level positions that can be used to gain experience and eventually work your way up the ladder.