Financial services is a broad sector that touches everyone in big and small ways. It includes everything from hedge fund managers to community banks, even nonprofits.
Banking is a key part of the financial services industry, providing money to individuals and corporations. Banks hand out savings accounts, credit cards, loans and other services. While about 10% of the money deposited into a bank must remain on hand to meet federal deposit insurance regulations, most of the rest of it goes toward lending to customers.
Investment banking is another important branch of financial services. Typically, investment banks are large firms that provide services to both public and private investors. They buy and sell securities (stocks, bonds) on behalf of their clients.
Broker Services are also an important type of financial service offered by investment banks. These services include securities research, trading and brokerage.
Insurance is also a key aspect of the financial services industry, covering things like property damage, death and illness. Brokers who search for and negotiate rates for policies, and underwriters who write the policies are all providing financial services.
Finance is a great career for those with a wide range of skills, from math to data analysis to interpersonal communication. Moreover, it is an exciting and rewarding sector that offers a variety of pay scales.