Financial services are economic services that encompass a broad range of service sector firms that provide financial management. These include credit unions, banks, credit-card companies, insurance agencies and investment funds. The services offered by these firms help individuals and businesses manage their finances and invest the money that they have earned or saved.
It is a complex industry that encompasses many different types of careers. Some common jobs within the financial services field are insurance agents, brokers, and underwriters. These people work to create, shop for, and sell various types of insurance policies to individuals and business. This includes things like home, life, and car insurance. Insurance is both a financial good and a financial service as it helps cover the cost of unexpected expenses.
Other career opportunities within the financial services sector include things like accounting and tax filing, currency exchange, and wire transfer services. Additionally, there are services that help with debt resolution and global payment providers such as Visa and MasterCard. The financial services sector also encompasses stock, commodity, and derivative trading.
Choosing a career in the financial services industry can be very rewarding, but it can also come with a few drawbacks. One of the biggest is the stress and long hours that are often associated with working in this industry. It is not uncommon for employees in certain roles to work up to 20 hours a day. This can lead to burnout and may make it difficult for these employees to have a healthy life outside of work.