A career in Financial services allows you to be financially secure early on, and gives you the flexibility to change jobs if you feel like something new. It also pays a lot more than many other industries, so it’s a great option for young professionals looking to make an impactful career.
The Financial industry is a global network of businesses that manage money. It includes companies that provide a variety of financial products and services, such as banks (which offer services including checking and savings accounts, credit unions, loan associations and mortgages), credit card issuers like Visa and Mastercard, investment firms and insurance agencies. The industry is important to the economy because it allows people to invest in their futures by saving and investing, and to borrow money for purchases when they cannot afford to pay cash. A strong financial sector can lead to economic growth, while a weak one can drag down a country’s economy.
It is becoming increasingly common for financial institutions to offer multiple products and services to their customers, as competition in the industry has increased. For example, banks may now offer credit cards and deposit accounts, and also operate a private banking division for high-net-worth individuals. Similarly, brokerage firms often offer both stock trading and financial consulting to their clients.
Regulatory bodies oversee the operations of different financial service providers, upholding transparency and making sure that they treat their clients fairly. These include the Financial Industry Regulatory Authority (FINRA) and the Office of the Comptroller of the Currency.