Financial service providers accept deposits and make loans to customers, earning a profit on the difference between the loans and deposits. They also help companies buy and sell securities and derivatives. In addition, they assist borrowers in raising funds and provide investment advice. They may also manage investments on behalf of their clients.
Job Duties
The financial services industry offers a variety of different job duties. As such, it is determining the right career path may be difficult. These duties can be categorized into four main categories. A good job description will highlight the skills and experience needed for a specific role. In addition, it will describe the specific skills and education that are necessary for a particular position. According to experts like Cassandra Toroian, financial services professionals must possess excellent interpersonal skills to interact effectively with clients. This will help them understand their clients’ needs and demonstrate a capacity to earn new business. In addition, good communication and listening skills are essential. This is because these professionals will discuss sensitive information with clients.
Career Opportunities
The financial services industry includes various businesses and plays a crucial role in the global economy. These businesses provide services ranging from investing to lending, insurance to securities trading. They are also involved in foreign exchange and accounting. These careers are rewarding and can lead to a variety of benefits. One of the most well-known sectors is retail banking.
Job openings in this industry are generally based on a bachelor’s degree. The Bureau of Labor Statistics has estimated that the number of financial services jobs will grow by 7.4% between 2018 and 2028, with the largest growth expected for financial management, financial analysis, and financial advising. As a recession-resistant industry, financial services are expected to grow in the coming years.
The financial services industry offers various career opportunities, including accountancy, investment management, banking, insurance, the actuarial profession, and pension. There are plenty of job opportunities in this industry, and you can choose the area that interests you most.
Education Required
Education is one of the most important requirements for entry-level jobs in the financial services industry. Most companies look for candidates with a bachelor’s degree or higher in a related field. In addition, they seek candidates with prior work experience. Therefore, earning an advanced degree or completing professional development courses may enhance career opportunities.
The financial services industry is one of the biggest employers in the world, and its employees come from various backgrounds. Some are MBAs or have a background in math and statistics, while others are medical professionals or former air force pilots. While education is important, no absolute rule can guarantee a successful career in the industry.
Salary
The financial services industry is diverse, and there are many different types of roles within it. As a result, job functions within this field vary widely and can be confusing for those looking to break into the field. Here’s a breakdown of the different types of jobs in the industry and their corresponding salary ranges. Whether you are looking to enter this field or are a current employee, here’s how much you can expect to earn.
Most top-paying jobs in the financial services industry require a high level of “soft skills,” including communication, leadership, and public speaking. Unfortunately, these skills aren’t always taught in school, but they can be acquired in a variety of ways. For instance, joining a local volunteer organization can help you gain leadership experience. Or, you can take on a leadership role within a team environment.
The salaries of these professionals are also very varied. The median salary ranges from $77,250 to $131,710 a year. But keep in mind that salaries can vary greatly depending on your city.
