Financial services are a critical part of the economy, providing individuals with credit card and mortgage loans, saving options, investment opportunities, insurance coverage and more. They also play a big role in helping businesses grow and thrive by facilitating the money they need to invest, pay for expansion and meet other business goals. A strong financial services industry benefits everyone.
At Phyton Talent Advisors, we work with professionals in the finance sector every day and see the positive impact they have on their own lives and on their communities. A career in this field can be lucrative and offers a great variety of opportunities that allow for more balance between personal and professional life.
A key benefit of a financial services job is the training and support it often offers new employees. Whether you’re an entry-level associate or a seasoned executive, many financial firms are known for their commitment to developing the skills and experience of their team members. They provide intensive training and mentoring, and give their employees a lot of responsibility early on, all while offering excellent benefits.
Another great perk of a financial services job is the ability to relocate quickly. Since so much of the industry is global, it’s easy to take your expertise with you wherever you go. Additionally, financial firms are known for promoting their top performers from within. With the fast pace of this industry, there’s always room to advance and become a leader.
Having a stable financial services industry is crucial for our national and global economies. Without it, it would be difficult for people to obtain the loans they need to buy a home, car or other necessary items. In addition, the financial services industry provides small businesses, large corporations and governments with the capital they need to succeed.
There are countless jobs in the financial services industry that can be found at banks, credit unions, insurance companies and other credit and lending institutions. It can be challenging to determine the best fit for your skills and interests, but a few key considerations can help you narrow down your options.
What are the four main types of financial services?
Financial services is a massive industry, which includes everything from debt resolution to credit card machine and network providers. It even includes international payment services and the exchanges that facilitate stock, derivative and commodity trades.
Debt resolution is a service offered by third-party agencies that negotiate with creditors on behalf of consumers who have accrued too much debt to manage on their own. This type of service can help prevent foreclosure and reduce the amount you owe on your credit cards or other debts.
A financial good is any product or service that’s associated with money, such as a vehicle or a house. Financial services are what support those purchases, from the mortgage to the inspection and appraisal. And it’s not just the expected categories that make up this industry, either; for example, Duitch points out that PayPal is considered a financial service because it processes payments and moves money from one account to another.
