Whether you’re a startup founder or an experienced professional looking for the next challenge, a career in Financial services is a great option. As one of the largest industries in the world, it provides plenty of opportunities for growth.
Companies in the financial services industry provide the capital that businesses and individuals need to grow or purchase large-ticket items like cars and homes. They also help channel cash from savers to borrowers and redistribute risk. For example, investment banks help business clients raise money by underwriting debt and equity. Banks, on the other hand, offer consumer banking services such as checking accounts and credit cards, and reinvest savings from customer deposits.
The state of a country’s financial services sector is a good indicator of the health of its economy. A strong sector typically leads to increased purchasing power among consumers, which in turn boosts the economy by encouraging consumption and boosting production. In contrast, a weak sector can lead to a depression by reducing the amount of money available to consumers and businesses.
Financial services include companies that provide critical financial market utilities, such as stock exchanges and clearing houses, derivative and commodity markets, and payment systems. They also include debt-resolution services, tax and accounting firms, notaries, and credit card companies. They also include insurance companies, which protect consumers or businesses from losses due to events that could affect their bottom lines such as natural disasters. These companies may be owned by government-owned or private entities.