The financial services industry is one of the largest sectors of the global economy. It is comprised of a variety of financial firms, ranging from banks to stock brokers and insurance companies. These institutions provide consumers with money-making opportunities and a means to save.
The industry is heavily dependent on technology. Financial institutions offer banking, loaning, and credit card services. They also offer checking and savings accounts. In the US, commercial banking is the largest sector of the industry.
Among its various functions, the industry provides protection against liability, property damage, and death. Insurance covers unforeseen expenses, and also minimizes the risk of producers.
A wide range of financial products are available, including life and health insurance, as well as reinsurance. Moreover, many community-based nonprofit organizations provide counseling and money management advice to the public.
A healthy financial services sector enables people to get loans, manage their finances, and save for a rainy day. This allows businesses to flourish and grow, and individuals to make a living.
A career in the industry can be defined by what you want to accomplish. Some jobs require a degree, while others are open to those with only a few years of experience. Regardless of your choice, you can expect to work about 16 to 20 hours a day.
When choosing a career, consider what role you would like to fill in the financial services field. For example, you may wish to apply for a job as a loan officer, or you may choose to focus on asset management.