Financial services put money to work by channeling deposits from savers to borrowers and by pooling risk. They help people and businesses manage cash flows, invest funds, make purchases and pay for things that would otherwise be out of their reach, such as houses, cars and education. A healthy financial sector supports economic growth and stability in many countries around the world.
This industry includes providers of deposit-taking, lending and credit-card services; credit rating agencies; debt resolution and other consumer services; global payment systems (e.g., Visa and MasterCard); and exchanges that facilitate stock, derivative and commodity trading. The financial services industry also includes firms that provide accounting and tax filing services, asset management companies, insurance companies and real estate agencies.
It’s not uncommon for those in this industry to work hard and be driven by a desire to achieve goals quickly, which can lead to burnout. In addition, the financial services industry is heavily regulated, often by multiple government bodies, which can slow down change and innovation.
This industry offers high salary potential, which can make it a desirable career path for those who are willing to put in the hours. However, the work-life balance can be challenging, as it’s not unusual for those in this field to work 16 to 20 hours a day. Many jobs in this industry are also contract based, which can be an issue for those looking to create a stable work life.