Financial services are the industry that supports the economic activities of people and companies. This includes everything that goes into earning and spending money, including saving, investing, and borrowing. The financial services industry is important because it allows businesses to grow and expand, and it provides people with access to the funds they need to meet their goals. The types of financial services include banks, credit unions, credit-card companies, and investment firms.
There are many different career paths in the financial services industry, and it is important to consider your own personal goals when choosing a job. You should also have good math and data analysis skills, and a strong ability to collaborate with others. In addition, since new tools are introduced into the field almost daily, it is important to be adaptable and willing to learn. Many employers offer on-the-job training to help you advance, and they tend to promote employees based on merit rather than longevity.
Some of the most well-known careers in the financial services industry are investment bankers, loan officers, and real estate agents. But other jobs in the sector may not be as obvious. For example, Duitch points out that PayPal is considered a financial service because it processes payments for merchants and transfers money between accounts. In this case, the person working in customer service or dispute resolution for PayPal would be considered a financial services professional. The industry has seen its share of ups and downs in recent history, due to deregulation, globalization, and a market collapse caused by subprime mortgages. However, it is still a powerful force that drives many other industries’ success, standards, and operations.