A Career in Financial Services

Financial services are the companies, people and organizations that make, invest and manage money. They help individuals and businesses with a variety of tasks, from saving for retirement to taking out a loan to buy a car. The industry is crucial to the global economy, and it’s important to understand how it works so you can make smart decisions about your own finances.

The financial services industry includes not just banks, but also credit unions, investment firms, mortgage companies, credit card issuers and a host of other companies. It also encompasses a wide variety of professionals, from debt resolution specialists to investment managers and financial planners. Many of these are for-profit entities, but some are nonprofits that provide counseling and other money management advice to the public.

It’s easy to confuse the terms “financial services” and “financial goods.” While they sound similar, there is a difference. Goods are tangible, like a car or a piece of jewelry. Financial services are the things you get in exchange for your money, such as a check written by a bank or the interest you earn on savings or investments. Banks are the best example of financial services, but there are other examples, such as a stockbroker buying and selling stocks at a profit.

Another category of financial services are insurance companies, which provide protection against unforeseen events. These include life, health and property insurance. In addition, there are reinsurance companies that back up the insurance carriers. This is different from investment banking, which focuses on mergers and acquisitions.

A career in financial services can be highly lucrative. However, it’s also a very competitive field, and you’ll want to ensure that your job is a good fit for your skill set. Moreover, it’s often not easy to break into the industry, even with a good degree. As a result, you may need to use your network to find an entry-level role that will give you the experience and skills you need to advance in the industry.

In order to succeed in this sector, you’ll need a strong work ethic and be comfortable with a high level of stress. It’s not uncommon for people in certain roles to work 16 to 20 hours a day. Consequently, it’s essential to strike a balance between your professional and personal life.

If you’re interested in working in financial services, it’s essential to connect with an experienced recruiter. The team at Phyton Talent Advisors has deep connections in this industry, and we can guide you on your career journey. Contact us today to learn more about the jobs we have available!