Careers in the Financial Services Industry
Financial services companies help people and businesses manage money. They facilitate banking, investing, credit card transactions and loans. They also protect against financial loss due to accidents, illness, death or natural disasters. A strong and healthy financial services sector is critical to a nation or world economy. It gives consumers the purchasing power they need and allows businesses to invest in new projects and growth.
Companies that provide these financial services include credit unions, banks and credit-card companies. Investment firms and insurance companies are also part of this industry. Financial market utilities, such as stock exchanges, clearing houses and derivative and commodity exchanges are also included in this group. Other companies that provide financial services are payment service providers, which enable sellers to accept credit and debit card payments, and debt resolution providers, which negotiate with creditors on behalf of consumers who cannot afford to pay their full debt amount as requested.
Careers in the finance industry are typically well-paid and offer excellent opportunities for advancement. The majority of people who work in the field are very satisfied with their jobs. In addition, many financial services professionals have the ability to travel because most of these companies are global organizations. The career paths vary widely depending on the specific job and company, but they all begin with extensive training and hands-on experience. Many companies offer additional benefits, such as health insurance and retirement plans. Some of the most recognizable names in the financial services sector are Berkshire Hathaway, with its GEICO and National Indemnity insurance brands, American Express and its co-branded credit cards with hotels, and Charles Schwab, a discount brokerage firm that empowers individual investors.