Financial services is a broad sector that includes everything from investment banking to lending and credit card processing. The industry encompasses for-profit companies as well as nonprofit organizations like credit counseling firms and community banks that provide money management advice and help people save for their future.
The main function of financial services is to pool and lend money from depositors to borrowers. This is done through banks that collect deposits and act as middlemen between those who have money (depositors) and those who need it (borrowers). It also involves stock markets, mortgage finance companies, insurance firms and other businesses that help people invest their funds or manage their finances.
Many professionals who work in financial services earn a good salary. They often receive on-the-job training and a chance to learn new skills. Some companies are even more invested in their employees, offering ongoing education and career development opportunities. With new tools being introduced to the industry seemingly every day, those who work in this field must be flexible and quick to learn.
