The financial services industry is vital to the health of both individual and societal economies. It puts money to productive use rather than having it sitting under a mattress or in a safe, by providing mechanisms that allow consumers and businesses to borrow, invest, save, or transfer funds with relative ease. The sector consists of many types of companies, including banks and credit unions, investment firms, insurance companies, and consumer finance companies. It also includes credit card issuers and networks, debt resolution services, global payment providers like Visa and MasterCard, as well as exchanges that facilitate stock, commodity, and derivative trades.

There are a number of ways to break into the field, but one of the most common is to find an internship or entry-level position that allows you to gain experience on the job. You can also find a mentor or advisor who can help you build up the skills that you need to become successful in this career path. This can be a great way to get your foot in the door of this lucrative and exciting industry.

Regardless of the type of work you do in the industry, you can expect to be paid on a salary and commission basis. This means that you have the potential to make a large amount of money and can potentially reach the highest levels of pay in this field. Additionally, many positions in the industry are highly specialized and require extensive education, which can add to your earning potential.

Lastly, it’s important to remember that this industry is regulated extensively, and many of the tasks that are completed by employees in this sector are subject to strict oversight. For example, when you deposit money in a bank, that money is protected by regulations that ensure that you won’t lose it if something goes wrong at the company. The same goes for when you buy a car, take out a mortgage, or invest in a startup company. These regulations are designed to protect you, and they help to foster a healthy economy by promoting stability and confidence in the financial markets.