Financial services are the vital links that connect individuals, small businesses, large corporations and even governments with the capital they need to grow and thrive. Whether it’s banks, brokers or mortgage lenders, they all provide an essential service in the economy. And they’re not the only ones – a whole host of smaller subsectors make up the industry too, including credit card companies, debt resolution services, payment processing firms and many more.
A career in financial services offers many benefits, from a high salary to excellent working conditions and a good work-life balance. Moreover, many roles within this sector will be offered on a salary plus commission basis, meaning that the earnings potential is very high. Those working in this field will also be expected to have professional insurance, such as errors and omissions coverage, which is compulsory for most employees.
Without financial services, the economic growth of a country would not be as robust. These services allow people with money to invest in other sectors of the economy, ensuring that the primary, secondary and tertiary sector’s activities are evenly distributed throughout the nation. Additionally, it allows those with less income to buy goods and services by providing them with finance like hire purchase and credit cards. In addition, financial services provide a safe place for families to save and access their savings. Previously, they might have had to store their cash under the floorboards or in a container where it could easily be stolen.