What Are the Different Types of Careers in Financial Services?

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  • Written By: K. Kinsella
  • Edited By: Allegra J. Lingo
  • Last Modified Date: 21 August 2019
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The job opportunities for people seeking careers in financial services companies are many and varied, and among the biggest employers in the field are banks, insurance firms, and mortgage companies. People often begin their careers in financial services companies by accepting an entry-level position before moving into more specialized and better paying roles. Aside from jobs that require a background in finance or business, many employees who have a background in customer service or administrative roles manage to forge successful careers in the financial services industry.

Insurance companies provide employees with a variety of different career options ranging from sales to underwriting. Sales people make outbound calls to both individuals and businesses, and generally receive commission based pay. Underwriters must analyze insurance applications and ensure that the company does not take excessive levels of risk by issuing certain insurance policies. Within the insurance arena, people can focus on different kinds of insurance, such as health, life, or automobile insurance.


Among the most prevalent jobs in the banking industry are teller positions, and many people use these jobs as a platform to develop successful careers in financial services companies. Tellers take deposits and provide cash to bank customers who are making withdrawals. Typically, tellers have more direct interaction with account holders than any other type of employee, so banks require tellers to have good customer services skills. Experienced tellers often become customer services representatives, in which case they are responsible for opening new accounts and handling service issues. Successful customer service representatives move into branch managerial positions or into other specialized roles as lenders or brokers.

Banks and mortgage lending companies hire large numbers of sales people to work as lenders. Lenders normally begin by writing loans that are secured by residential property, but experienced lenders often take on commercial lending roles. Commercial loans are often more complex than residential loans, and people who specialize in writing loans for businesses tend to earn higher commissions than residential lenders. People who have a background in automotive or real estate sales often forge successful careers in financial services companies that specialize in lending.

Finance companies and investment houses often hire sales people from insurance firms or banks to become investment brokers. In order to have a career as a broker, an applicant must first pass a licensing exam. Brokers are closely regulated in most countries and must comply with laws related to sales activities and the disclosure of possible conflicts of interest. People who work as brokers usually receive commission based pay rather than a salary. Established brokers often become financial analysts or mutual fund managers.


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