Financial services cover a wide range of businesses which handle money, such as banks, credit unions, credit card firms, mortgage companies and so on. There are several ways in which they operate, such as investment banking, commercial banking, insurance, wealth management, investment management and so on. These businesses provide a variety of different products and services to people who require them.
The financial sector is responsible for the way we live our lives. If we were not able to use the money we have then we would not be able to spend it. Therefore, if we are unhappy with the money we have then it’s likely that we will be looking to borrow more money. This is where the financial sector comes in and helps us to reduce our debt levels and improve our financial status.
If you are looking to get a job within the financial sector then there are many things you need to consider before you apply for a position. These are:
Experience – There are financial service businesses in the United Kingdom which only hire those who have worked within the industry for at least two years. However, there are also companies who will take a person on as an apprentice and train them up in order to gain more knowledge about the financial sector and in particular how to work within the different sectors of the financial industry. They will help the apprentice find suitable jobs within the company and often provide job placements at different companies.
Knowledge – The first thing you should do is look through your CV to make sure that you have no previous jobs which you are not qualified for. You can always reapply for these jobs later in the career, but doing this early on means that you have the chance to prove yourself and demonstrate that you know what you are doing. The Financial Services Authority (FSA) requires companies to show that their applicants are capable of doing the job that they want.
Specialism – One of the main ways in which the financial sector grows and develops is by recruiting new staff for their business and training existing staff in new skills. For example, if you want to work in the investment banking sector then you could start by working as an investment manager. This is one job in which the FSA requires that you have a relevant level of training and expertise in order to gain employment.
Financial education – It is important that you go to university or college if you want to work in the financial sector. A degree will be a great qualification to get onto a successful career path. It will give you a lot of experience and give you the chance to learn new skills and understand how the whole system works.
It is important to consider your options when looking for a job in the financial sector. Take a few days to read and understand the job market and you should be able to find something that you enjoy and is in line with what you want to achieve in the future.
If you have already had some experience in the financial sector, then it might be worthwhile finding an apprenticeship as this will offer you an opportunity to learn more about the job you are applying for and the training and employment opportunities that might be available once you gain employment. Many apprenticeships in the UK to offer courses in areas such as accounting, fund administration, IT and other areas that may be important to you.
There are many different careers available in the financial sector. Some people may be more suited to a specific role than others, so it is always worth trying to find the role that you like.
In any case, if you want to work in the financial sector then it is important that you are willing to try your hand at it. As a professional in this industry you will be required to put in a lot of hard work, so the earlier you start the better.