Financial services are the economic sector that provides various money related products and services like investment banking, corporate finance, capital markets, securities trading, and insurance. This industry encompasses a broad range of businesses that provide credit facilities, such as banks offering checking and savings accounts; lending activities, including loans of all kinds (personal, mortgage, and business); deposit-taking, financial leasing, and money transmission services; brokerage services for stocks, bonds, mutual funds, commodities, and options; asset management, such as pension fund management; and other auxiliary financial services (including information provision and processing).

A career in this field is ideal for people who are highly analytical and enjoy the thrill of solving complex problems. These professionals also need to have strong interpersonal skills to thrive in the field, since they deal with high-profile clients on a daily basis. It is also a great option for those who wish to travel because most financial service companies are global organizations and offer many opportunities to relocate.

The financial services industry is a key driver of the economy, and its performance has a direct impact on other industries’ practices, standards, and operations. A weakening of the financial services industry can result in lower consumer spending, higher unemployment rates, and even a recession.

Those interested in a career in the financial services industry should focus on building a solid foundation by taking entry-level positions, starting small and working their way up. It’s also helpful to find a mentor in the field to help you learn and stay on track with your goals.