Financial services are economic services that encompass the banking industry as well as insurance, investments, and the redistribution of risk. This industry powers NYC and the world, so a job in finance can help you make a real difference in people’s lives every day.
There are many different roles within this industry, and the career path you take may depend on your specific interests or skills. The following are some common jobs within this sector:
Consumer finance: Credit card companies like American Express and mortgage lenders offer products and services that allow consumers to purchase items they otherwise wouldn’t be able to afford on their own. These firms often provide various perks, such as rewards for using their cards or interest rates lower than that of other lenders. Hire purchase and leasing services also fall under this category, where consumers can use their savings to pay for products or services over a period of time.
Investments: Private equity funds, venture capital providers, and angel investors supply investment capital to startups in exchange for ownership stakes or profits. They work with entrepreneurs to identify a business opportunity and then provide capital for growth. This industry also includes mutual and hedge funds that invest in a diverse portfolio of stocks, bonds, and other assets.
The finance industry is important to the economy, because it helps individuals afford major purchases and save for future needs. It also promotes the flow of capital in the market and provides businesses with a framework to function during periods of economic expansion.