Financial services is a broad term that encompasses everything related to money, including depository institutions (banks, credit unions and building societies); providers of investment products; insurance companies; credit and credit-card issuers; and financial market utilities (like stock, derivatives and commodity exchanges). The sector also includes credit-rating agencies, debt-resolution firms, global payment networks like Visa and MasterCard, and credit card clearing houses.
As the world becomes more complex, demand for Financial Services is growing fast. However, these businesses face numerous challenges, such as intense competition and increasing regulatory scrutiny. Moreover, the industry is dealing with changing consumer needs and expectations that have become increasingly personalized. To respond to these demands, many Financial Services organizations are reorganizing their business models and hiring new talent.
While a degree may be necessary for some roles, the vast majority of positions within this industry offer a great deal of flexibility with regards to educational requirements. In fact, many businesses in this field invest heavily in their employees, offering intensive training and ongoing mentoring programs. As a result, many workers are given responsibility early on and have the opportunity to quickly move up the career ladder.
This type of environment can be highly rewarding for hard-working, quick-thinking people. Not to mention, many jobs in this field are very lucrative and pay much more than other sectors, even at the entry level. At Phyton, we work with professionals in the financial services industry every day, and we see firsthand just how well a career in this sector can pay off.