Financial services are the industries that support the economy by enabling people to engage in monetary activities, including banking, investing, lending, and insurance. This sector helps individuals save for retirement, buy homes and cars, and build businesses by providing credit. It also ensures the safety of assets and investments through insurance. When this industry and a country’s economy are healthy, consumer confidence and purchasing power rise. However, when this industry falters, it can drag a country into recession.
The financial services industry encompasses a broad range of jobs and career paths. Many of these roles are high-level positions that require extensive education and training. Others, such as bankers and brokers, are more entry-level positions that can be a gateway into the industry. The more experience a person gains in these roles, the greater their earning potential.
To get a foot in the door, it is important to network with those in the industry. Many of these professionals make their living with their expertise, and they are often happy to share it with those who show an interest in learning more about the industry. These experts can help someone to navigate everything from a student debt repayment plan to finding the right mortgage for a first home.
2023 looks to be a year of change for the industry. As a result, it will be critical for companies to align their purpose and profits with those of their clients and the wider community.