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Many people have a misconception of what the financial services sector does. In actuality, the sector consists of over three dozen industries. It includes securities dealers, insurance companies, investment bankers, investors, public finance specialists, international investors and many more. PLUS, the financial-services sector does not only serve people like you.

The financial-services sector includes banks, savings and loan companies, investment banks, credit unions, brokerage firms, securities dealers, insurance companies and more. Banks handle your deposits and loans; provide you with banking services such as bill consolidation, loans, mortgages and more; and perform the administrative duties required by all of the above mentioned sectors. Insurance companies protect your investments and give you appropriate risk management. Securities dealers trade in securities (like bonds, stocks, options and futures) and help make investments for you. Public finance specialists help state and local governments with funding issues; help design programs for economic development; provide direct financial support to foundations and charity organizations; oversee mergers and acquisitions; work with philanthropic groups on projects; and manage tax obligations.

Not to mention, big tech companies such as Apple, Microsoft, Cisco, Sun and others have entered the financial-services field as investors and customers as well. In fact, there are entire hedge funds and asset management teams built around big tech companies. While this is a good thing for the economy, it can have negative implications for the public if the public carriers they are buying are inefficient or even completely bankrupt.

As mentioned above, there are two major types of jobs in the financial-services sector. Corporate professionals work for investment banks create portfolios for clients. There are also investment bankers who work for individual clients, sometimes independently, but more often working as part of larger investment banks. Corporate financial advisors work for corporations and advise them on mergers and acquisitions, investment strategy and on how to manage their finance s. Investment bankers usually don’t deal directly with individual clients, but they are still an important component of the corporate sector and may be consulted on everything from mergers to the integration of acquisitions.

Jobs in the financial-services industry also exist in government. In fact, there are assistant attorney general jobs for those working within the finance and banking industries. There are also posts for bank tellers and other clerical jobs at large financial agencies. The Consumer Financial Protection Bureau oversees many of these positions. In some places, these positions are created by state government agencies to fill in the gaps left when the people leave government service. Many states also have special financial advisor offices just for these types of jobs.

A final job in the financial services sector is that of a mortgage banker. Mortgage bankers work directly with banks, acting as financial advisors to individual borrowers and groups of people. They find loans for people who need them, negotiate terms and conditions, and ensure that loans are processed according to federal and state laws. Mortgage bankers may also work with second and even first-lien mortgage companies and participate in the negotiations between borrowers and lenders.

One final job in the financial sector that isn’t related to banks or other large financial institutions is venture capital. Venture capital is invested in new and growing businesses. This can involve investments in software and internet companies as well as new businesses that are starting out. Venture capitalists typically don’t invest in traditional businesses that are going to be sold off, rather, they’re more likely to invest in “private equity” or “private companies”. The biggest beneficiaries from venture capital investments are small, medium and large businesses that need additional funds to grow and compete in today’s market.

The financial services industry continues to exist today because it serves a number of different sectors of the US economy. While many of the jobs in the financial sector were lost during the recent economic crisis, jobs in the public and private sectors are now growing at a steady rate. In order to secure future jobs in the financial sector, it is essential to understand the basic functions of these different sectors, and how they interact with one another. Studying the business plans and operations of major corporations, is an excellent way to get an overview of how they make money. To get a deeper understanding, consider taking a business degree course on business administration, finance, or economics. You’ll be glad you did.