Financial services encompass a broad range of businesses that help people and organizations manage their money. From banking to brokerage to mortgages to credit cards, it’s a big sector that impacts everyone in some way.
There are a lot of different career options in the financial services industry, including jobs at big banks and small community banks as well as nonprofits. There are roles to suit all types of interests, and the skills required for most positions are less about academic knowledge than interpersonal ones.
Depending on what you want to do, the financial services industry can be rewarding. For example, if you want to work within the energy industry, a finance job could be a great way to learn more about renewable energy companies.
The sector also includes many consumer services that help individuals and companies with their finances, such as debt resolution and payment recovery. It also includes organizations that provide financial market utilities such as stock exchanges and clearing houses, derivative and commodity exchanges, and payment systems.
Banking services include the ability to deposit and withdraw funds, and provide loans for specific purposes. They also offer insurance to cover deposits or to cover borrowers’ losses from a loss of their home, car, or other assets.
Investment banks provide services for business entities that need to raise capital, such as mergers and acquisitions, debt and equity underwriting, restructuring, and investment management. They may also offer structured finance products for individuals and institutions that need more complex financial solutions.