Financial services refer to the making, investment and management of money for both individuals and businesses. This includes everything from banking to credit unions, pension and asset management companies to insurance agencies.
A major benefit of careers in the finance sector is that most positions are quite secure. As long as you have an aptitude for working with numbers and can keep up with the pace of the industry, there is a lot of room for upward mobility. In addition, many businesses are known for investing in their employees by offering continuing education opportunities and on-the-job training. This keeps your skillset fresh and gives you an edge over the competition.
Another perk of working in the finance sector is that your salary can be very generous. This is especially true for top executives who are responsible for the most lucrative business deals. However, it is important to note that this salary is dependent on the size of the company you work for. Smaller companies have less to offer in terms of pay and benefits.
Banks aren’t just places where people can safely store their money, they also lend it to others. This is done by evaluating the creditworthiness of potential borrowers and determining interest rates. They then use this information to anticipate when a customer will be ready to make big financial decisions, like buying a home or starting a new business. This way, they can prepare the right products and offers for them at the right time.