When you think about the financial services industry, you probably envision banks, brokers and mortgage lenders. But these are just the tip of the iceberg when it comes to this large and varied sector that deals with money management, investing and even debt resolution. Financial services also encompasses other areas like securities trading, investment banking, treasury operations, credit-related services such as debt collection, financial advice and analysis, asset management and all forms of intermediation or exchange for financial instruments (deposit-taking; lending of all types; financial leasing; payment and money transmission services; clearing and settlement services for financial assets and negotiable instruments; brokerage, advisory and research and data processing services and auxiliary financial services).
A career in the financial services industry can be challenging but rewarding. Duitch notes that in addition to the high salaries and opportunities for advancement, you’ll likely meet a lot of new people and learn about the business world from a different perspective. But you need to make sure that a job in this field is the right fit for your skills, career goals and lifestyle.
For example, if you want to work with a large corporation, then a position in the retail finance department might not be the best fit for you. The same goes for jobs in the private sector, as it can be difficult to find an employment opportunity that provides both a good work-life balance and the high-profile clients you desire. Besides, not all positions in this sector pave the way for a lucrative career; for example, working as a teller is unlikely to propel you toward becoming an investment banker.