Financial Accounting Services Industry Profile Reveals an growth of careers in the financial services industry, with key growth in the financial services career sector.
Careers in the financial services sector are rewarding purpose driven careers if the focus is upon serving people in fulfilling their financial goals and dreams.
Personally, I want to do business with those whose focus is on the service aspect of the title - financial services. As my wife and I talked about this article on financial service careers, we noted that often the motivation for people in financial services is suspect.
Yet a purpose driven financial career, whereby the personal financial needs of people are served, is indeed a purposeful career for those who are seeking to change careers, with purpose.
According to U.S. Bureau of Labor Statistics the financial services industry is composed of three primary sectors:
The financial industry’s annual rate of growth (1.2% annually between 2002 and 2012) represents 964,000 new jobs created by 2012. (Jay Berman, Monthly Labor Review, February 2004) The following financial services occupations are expected to increase in employment by over 18% from 2002 to 2012:
Employment growth is expected in management and professional jobs in banking, customer service representatives as well as securities and financial services sales representatives.
For a number of years one of the largest banks continues to be in the news for dishonest practices with new discoveries coming to light as to how clients have been cheated. Now they have a motto of being rediscovered in a new era. You would think there would be mass firings of incompetent bankers and new positions created in the banking industry.
Growing areas of the insurance industry are medical services and health insurance in addition to the industry’s expansion into the broader financial services field. Health care has become a politically charged issue so what the insurance industry will look like in the future is uncertain. Yet it does not seem to be going away and with the aging of America, health care needs will demand insurance coverage.