Financial services are the activities involved in raising, investing and managing money for both individuals and businesses. They include a wide range of services such as deposit services, investment banking, brokerage, credit-card companies, hire purchase, factoring, mutual funds, private equity and debt and asset management.
Financial institutions are responsible for accepting deposits from the public and lending them out to people who need capital for a variety of reasons, like purchasing a home or starting a business. These institutions also offer various reinvestment opportunities to people who want to grow their savings while maintaining the safety of their investments.
Insurance is one of the most important parts of financial services as it offers financial protection to consumers in case of any unforeseen incidents. These services also help the poor section of society by providing them with various facilities and options for saving and obtaining loans at low interest rates.
Many of the companies that provide financial services are known for promoting from within and offering extensive training to their employees. This makes it a great career option for people who are eager to learn and take on new challenges. Plus, with new tools and technologies being introduced to the field all the time, you’ll never be bored in this industry! Pay in the sector is competitive, but not as lucrative as some other areas of finance. People working in this industry generally start at around PS45,000, with the potential to rise up into the high 5 figures.