Career Opportunities in Financial Services

When people hear the term financial services, they often think of investment banks and hedge funds. However, the industry includes a lot more than that. Financial services encompasses all activities related to money, including the inflow and outflow of cash. This includes banking, borrowing, saving, and investing. It also refers to the financial tools used by individuals and governments, such as selling shares, taking out loans, and levying taxes that further specific monetary goals.

The financial services sector is vital to the economy. When it thrives, companies make more money, and individuals have more spending power. This in turn spurs economic growth and reduces unemployment rates. When the sector weakens, it contributes to recessions. For this reason, career opportunities in financial services are highly sought after.

Financial services include everything that involves managing money, from insurance and investments to personal banking and lending. Some examples of these services are deposit services, which include checking and savings accounts that earn interest; credit unions, which offer similar services to banks; and commercial banking, which offers more sophisticated products like corporate lending, underwriting, and asset management.

Before you start looking for financial services jobs, figure out how complex your finances are. If you’re a homeowner, for instance, you may need ongoing advice and wealth management. Alternatively, you might just need a onetime meeting with an advisor to invest an inheritance. Once you know what your needs are, it’s easier to find the right position.