The financial services industry consists of many different companies that offer various products, from credit cards to banking technology. A healthy financial services sector makes it possible for people to get loans to purchase homes, cars, and education. It also enables individuals to save for retirement or other goals, and safeguards their assets against loss through insurance policies. Financial services also help businesses grow and thrive.
While there are a multitude of players and products in the financial services industry, it wasn’t always this way. In fact, before the 1970s, the different areas of the financial services industry mostly stuck to their own niches. Banks offered checking and savings accounts, loan associations provided mortgages and auto loans, and stock brokerage firms offered investment opportunities in stocks, bonds, and mutual funds.
However, as the world became more interconnected, these sectors began to merge and converge, and now it is common for banks to offer multiple products and for financial advisors to work with both consumers and businesses. Additionally, technological advances in the digitization of finance has allowed some services to be made available to a broader range of people through online platforms.
Despite the consolidation of the financial services industry, there are still plenty of jobs to go around and some great career options. In fact, the field is highly in demand, so workers in this sector are typically well-paid and have some degree of job security.
In addition to the perks of job security and good pay, another benefit of working in the financial services sector is that it is a very fast-paced and dynamic industry. Its employees are often required to be constantly on their toes, as new tools and technologies are introduced almost every day. This can be a challenge for some people, but it is also what makes the field so exciting and fun to work in.
As a result, those interested in a career in the financial services sector are often well-paid and given a lot of responsibility very early on, and may have to do a significant amount of travel. In addition, this sector is generally very competitive and can be a bit of a rat race to reach the top.
As a leading professional staffing agency, Phyton Talent Advisors works with many people in the finance sector and understands how rewarding it can be. We encourage all interested individuals to learn more about the different positions and careers that are available in this industry. Contact us today to find out more about the many open roles and how a career in financial services can be an excellent career choice for you.