To help you decide if a career in financial services is for you, we asked finance experts and business professionals this question for their best advice. From getting a practical education to branching out to various specialties, there are benefits that may help determine if working in financial services is a good fit.
Beyond just looking great on a resume, working in financial services can create a great base for branching out in a multitude of different industries. Who doesn't want a financial wiz working for their company?
But, if you plan to stay firmly rooted in the financial realm, there are numerous roles available — many with lucrative salaries and room for advancement. You'll have many opportunities right at your fingertips, especially if you boast a nice education.
- Dylan Fox, AssemblyAI
The financial services industry has started evolving, especially with the recent advent of cryptocurrencies and increased cybersecurity issues. While the industry has been somewhat resistant to change, advances in technology have made the need for an industry-wide digital transformation more and more of a necessity. If nothing else, these are some reasons to get involved in financial services. This is your opportunity to have a significant impact for generations to come.
- Rronniba Pemberton, Markitors
I believe the financial services industry is diversified, encompassing a wide range of industries. There are numerous divisions within each of these sectors, and it is not rare to encounter distinct specializations within each division. Once you've gained some expertise, you'll be able to branch out into other areas of the business.
Do you enjoy solving problems and taking on difficult challenges that require analytical rigor? Make a career as a financial analyst. Are you ready to plan ahead and think long-term? Working as a certified financial planner is a great way to start your career. Young professionals in the financial services business have a lot of options when it comes to the work they do, which means they have a lot of room to experiment.
- Steve Scott, Spreadsheet Planet
Problem-solving is one of the most important skills to have in finance. You will see a constant stream of new problems, and you need to tackle them quickly and efficiently. It's not just mathematical and technical problems, but also business and social problems where you might need to find ways to sell more products or help customers understand their options for retirement. This allows for quick career progression for those who can think quickly on their feet.
- Adam Garcia, The Stock Dork
Technology stays in the center of the financial services industry. Businesses in this area require a substantial initial investment and rely on scalable and very accurate systems. All of that means that they have access and are willing to adopt new technologies earlier than other industries. Working with them, you will likely learn and use software and tools other industries may adopt years later.
- Michael Sena, Senacea
As a former investment banker and financial consultant, I would recommend going into financial services if you want options because it can open up the door to many different opportunities within the industry. There are a wide variety of specializations to choose from which is a great way to maximize your profits since specialists earn more.
- Rym Selmi, MiiRO
Financial services are complex, but a lot of processes and systems are super outdated. When you take the time to develop subject matter expertise and you bring a modern approach to what you do, there's a huge opportunity to make improvements. You can have a great career doing anything from using technology to streamline the way things are done to writing about financial services in a way humans can understand — if you bring a fresh perspective.
- Elliott Brown, OnPay Software
I think a good reason to consider working in financial services is that, beyond getting paid for the job you do, you’ll also get a free education in the products and services that your company offers. The nice thing about learning more about financial services is that it will open doors for more job prospects.
Even if you decide that working in financial services isn’t for you, the knowledge you get about the products and services can be a big help when making decisions about your own personal finances. Knowing about financial services and products is very practical knowledge. To learn all about them for free while getting paid is a pretty good deal.
- Francesca Nicasio, Payment Depot
Terkel creates community-driven content featuring expert insights. Sign up at terkel.io to answer questions and get published.
Take your customer service experience from any industry and apply it to a career in financial services in less than two months through a unique partnership with Bank of America and the Maricopa Community Colleges.