Financial services are a crucial component of the economy, impacting individuals and companies in a variety of ways. A healthy financial services sector allows people to obtain the loans they need for mortgages, cars, and education, helps them save money for retirement and other goals, and protects their assets from risks through insurance. The financial services industry encompasses all aspects of the distribution and management of money, from deposit-taking to lending to investing and beyond.
The most popular jobs in financial services include investment banking, accounting, and wealth management. Other roles in the industry include credit card processing, debt resolution, payment service providers, and more. Many of these positions require a specific degree, but in some cases, experience in the field is more important. For example, an MBA is often a prerequisite for positions such as a financial analyst or a senior investment banker, but if you have the problem-solving skills and interpersonal demeanor necessary to thrive in this industry, a bachelor’s degree may be enough.
A career in financial services requires a lot of hard work. The hours are long, and the pace is fast, but if you have the right personality for it, it can also be a highly rewarding field. The key is to understand what kind of role you’re best suited for before starting out.
When it comes to breaking into the industry, networking is critical. If you have connections who can vouch for your character and abilities, it’s much easier to land interviews. In addition to networking, taking on entry-level positions that allow you to develop your skills on the job is a great way to break into the industry.