Financial services are a set of economic services that are offered by the finance industry. These include credit unions, insurance, mutual funds and financial market utilities such as stock exchanges, clearing houses and payment systems.
The benefits of financial services for an economy are many, including the free flow of capital and liquidity, and it helps to manage risk. This is one of the main reasons why government agencies regulate and supervise these types of companies.
A career in financial services is a great way to make money and be part of an important industry. However, you should carefully weigh the pros and cons of this field before making a decision.
Pros: 1. Pay – Jobs in the financial services industry are typically higher paying than other fields, and you can expect to experience a big salary increase once you reach a certain level of experience.
2. Work flexibility – Some positions allow you to balance your work and personal life, especially if you’re working independently.
3. Interpersonal skills – Most positions in the financial services industry require you to communicate with a wide variety of people, so you’ll develop excellent interpersonal skills that will help you move forward professionally.
4. Education – A degree is not always necessary to work in this field, but it will certainly help you land a more advanced position.
5. Various career options – There are many different kinds of careers in the financial services sector, from investment bankers to accountants.