When most people think of jobs that involve working with money, they tend to picture roles like bankers, brokers or mortgage lenders. But, those roles are just a small part of the financial services industry. This is an enormous field that encompasses all jobs that have anything to do with managing and exchanging money. It also includes roles like insurance companies, investment firms and Wall Street.
A strong financial services sector is important to a country’s economy, as it ensures that businesses and consumers can easily access capital. When this sector is strong, it can drive economic growth and increase consumer confidence. But when the sector falters, it can drag down a country’s entire economy.
While the financial services sector seems all-encompassing, it wasn’t always this way. Prior to the 1970s, each sector of this industry more or less stuck to its specialty. Banks handed out checks, provided a place to hold checking and savings accounts, and lent money for mortgages and automobiles. Credit card companies provided credit cards, and stock brokerage firms traded stocks, bonds and mutual funds.
One thing that many people don’t realize is that a job in financial services can be rewarding and exciting. These professionals often find that their jobs are very satisfying and the career paths are highly flexible. In addition, financial services firms are known for promoting from within and paying their employees well. This is a great industry to work in, especially for those who want to see themselves progressing quickly and getting ahead on their career path.