Financial services are everything that has to do with money and how it’s used. They encompass everything from the services that provide the funds to buy goods and services (like mortgages or insurance policies) to the critical financial utilities, like stock and exchange markets and payment systems. This is an extremely broad industry, encompassing thousands of depository institutions, providers of investment products, credit and financing organizations and more.

These organizations intermediate between savers and borrowers. They help channel savings into investments and redistribute risk. Banks offer mortgages, personal loans and checking accounts; brokerage companies sell stocks, bonds and mutual funds; and credit card firms, such as Visa and Mastercard, distribute and settle credit cards. These intermediation services are essential for the functioning of a modern economy.

Another important function of financial services is enabling small businesses to grow by providing them with the capital they need to invest in new equipment, hire employees and expand their business. This helps create jobs and stimulates economic growth.

Financial services are also a very rewarding field to work in. Many of these roles are commission-based, meaning that your salary is largely based on the number of clients you bring in and the amount of business you generate. This, coupled with the potential for professional development, means that you can earn a very high salary within this sector. In addition, many of these industries are known for promoting from within, so you can move up quickly and easily if you work hard.