Careers in Financial Services
Financial services encompass a broad range of institutions, professionals and products that manage, optimize, protect or grow financial resources and assets. The sector is a key driver of the economy, and its health is important to everyone. A healthy financial services sector provides individuals and businesses with access to loans, investments and savings. It also safeguards their property and health through insurance coverage, and enables companies to thrive by providing them with the capital they need to expand or innovate.
When most people think of the financial services industry, they often envision banks, brokers and mortgage lenders. However, these are just three small segments of the overall industry. There are also investment firms, private equity funds and angel investors that provide venture capital to new or growing companies in exchange for ownership stakes or profit participation. Credit unions and credit cooperatives offer consumer loans and other services to their members. Securitizers, financial market utilities and payment systems are all part of this industry as well.
The vast array of options can make it difficult for someone considering a career in the industry to figure out where to start. Duitch suggests looking at what type of role you want to pursue and what your long-term career goals are. If you are hoping to move into management or consulting, starting out as a teller at a community bank may not be the best way to achieve those goals. The good news is that many jobs in the industry are extremely flexible, and a person can easily move between different segments of the industry to further their career path.