Financial services is an expansive sector that encompasses everything from banking and credit to investments, payments, and insurance. It’s not a career for the faint of heart: it takes hard work, determination, and intelligence to succeed in this industry. But if you’re willing to work for it, financial services can offer excellent opportunities for growth and stability.
The financial services industry encompasses many different business types and roles, from credit card companies and global payment networks to private equity firms and debt resolution companies. It even includes accounting and tax filing services, currency exchange operations, and wire transfer services. It also includes credit and debit card machines and services, as well as trading platforms that facilitate stock, derivatives, and commodity trades. Financial services can also include debt and loan underwriting, advising investment bankers on loan risk, and structured finance, which develops more intricate (often derivative) products for high-net worth individuals and institutions with more complex financial needs.
These businesses enable consumers to purchase goods and services, and make investments in the primary, secondary, and tertiary sectors of the economy. When this industry and a country’s economy are healthy, economic development is facilitated, which means more jobs, higher wages, and better living standards for all.