Financial Services Career

By: EconomyWatch   Date: 30 September 2009

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A financial services career is suited for people who are ambitious and willing to work for long hours. It can be a lucrative career, depending upon your aptitude and abilities. In the financial services sector, you could be working in the following areas:

  • Actuarial
  • Credit card services
  • Insurance
  • Investment operations
  • Life assurance and pensions
  • Private wealth management
  • Professional services IT
  • Regulation and compliance work
  • Retail banking
  • Risk management

Financial Services Career: Skills Required

Jobs in financial services can be found in financial institutions, government agencies, corporations and national and international banks. The following skills are important for a financial services career:

  • Aptitude for working with numbers
  • Good computer skills
  • Knowledge of latest computer technology
  • Excellent analytical skills
  • Impressive leadership skills
  • Good communication skills, including listening and writing
  • High integrity
  • Problem-solving and decision-making skills
  • Organization skills

If you are proficient in any foreign language, it would be considered as additional qualification.

You would need to apply these skills in:

  • Quantitative analysis
  • Strategic financial planning
  • Investment management
  • Sales

Financial Services Career: Qualification Required

The eligibility criteria for working in the financial services industry vary depending on the post. For the post of financial manager, you must have a bachelor's degree in accounting, finance, business administration or economics. However, several organizations prefer a master's degree in finance, economics or risk management.

Financial Services Career: Compensation

In the financial services sector, premium is attached to a person’s ability to think and act quickly and deliver consistent results. Hard work, focus and ability to work under pressure are essential to building your career in this sector. For those who survive, the rewards are excellent as the industry is well known for its generous compensation packages. People who perform exceptionally climb the corporate ladder regardless of age.

The banking and insurance sectors of financial services are typically more bureaucratic and offer lower remuneration than firms that are in the following lines of business:

  • securities brokerage
  • securities trading
  • investment management
  • securities research
  • investment banking

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