A healthy financial services sector provides a wide range of essential functions. It allows individuals to obtain loans for mortgages, cars, and college tuition; it helps families save for retirement and other goals with savings accounts and mutual funds; and it protects against health, property, and loss through insurance.
It also helps businesses grow and succeed with the help of investment banking and advisory firms. The sector includes debt resolution services, global payment system providers such as Visa and Mastercard, credit card companies, and exchanges that facilitate stock, derivative, and commodity trading.
The financial services industry is one of the most interconnected in the world, and there are countless different jobs available within it. In addition to investment banks and traditional lenders, there are also private equity firms that look for high-profile entrepreneurs and startups to invest in, angel investors who provide funding to small and mid-sized enterprises on their own, and financial regulatory agencies that oversee the operations of different institutions to maintain transparency and consumer protection.
Many jobs in financial services offer stability and competitive salaries. Additionally, there is a strong emphasis on training and development, with most financial services companies offering a variety of programs for their employees to learn new skills and stay relevant in the industry.
In the United States, financial service companies often merge with each other or purchase other firms to create a larger presence and diversify their revenue streams. However, outside the country, these companies typically keep their own brands and operate as independent entities.