The financial services industry encompasses a wide range of professional firms. It’s an enormous sector with a huge number of jobs, and it also has one of the highest levels of job satisfaction when compared to other industries.
A healthy financial services sector allows people to get the loans they need to buy houses, cars and more. It helps families save for retirement and other life goals, safeguards their property, health and other assets through insurance, and provides millions with well-paying jobs.
Businesses in the sector include banks (depository, building society or mortgage banks and credit unions); deposit-taking companies; lending organizations; credit-card and payment card networks and their suppliers; and other entities engaged in financial intermediation such as financial advising, accounting, auditing and tax filing, credit-reporting agencies, and international money transfer agents. The industry also includes insurance reinsurance, angel investors (who provide investment capital in exchange for ownership stakes or profit participation), private equity funds and venture capital providers, and commodity brokers.
Many of these firms are large, global organizations. As a result, they have plenty of opportunities for professionals to move around the world if they want to take advantage of them. In addition, these companies are heavily invested in their employees. They often provide continuous education and on-the-job training, as they know that it’s crucial for their staff to stay up to date with the latest tools and techniques. Regulatory bodies also play a role in the financial services sector. Independent agencies are designated to oversee different financial institutions’ operations, uphold transparency, and ensure that clients are treated fairly.