Financial services are the lifeblood of any economy, providing consumers with everything from credit cards to loans and pensions. But despite the importance of these services, many people struggle to understand basic money management and are deeply in debt. In addition, a number of companies, including banks and fintechs, make substantial profits by helping to build their customers’ financial wellbeing.
The financial services industry is highly regulated, and independent agencies are designated to oversee different financial institutions’ operations, uphold transparency, and ensure that their clients are treated fairly. These include the central bank, insurance regulators, investment banks, and pension fund regulators.
When deciding on a career in the field, it’s important to consider your overall goals and what type of role will help you achieve them. According to Duitch, “there are thousands of jobs in the industry, but not all pave the way to your desired destination.”
A big benefit of working in financial services is that you can travel around the world without compromising on your job security. In fact, when surveyed, professionals in the sector report an average of 9.6 to 10 on job satisfaction. This is largely due to the fact that most of these industries are global organizations and have transfer options for those who want to relocate. However, you should also consider that while these roles can offer a great deal of flexibility and adventure, they can also require an extraordinary amount of work, particularly in the case of investment banking.