Exploring financial & related services
Finance and what? Financial & related services essentially does one function: it delivers all of our economic services. From insurance companies which protect your most important belongings, to banks and accountancy companies which keep your money safe, this area is all about handling money!
What could I do in financial & related services
Its called financial & related services because it's about so much more than working in a bank. There are plenty of opportunities in banks, but this sector is a lot bigger than that! There are many companies dealing with: insurance, stocks and investments, pensions, risk assessment and bookkeeping to name a few.
You will probably find yourself working in the company's office, but many companies have multiple buildings in different countries all over the world - that means sometimes you could be based in Essex, other times you might be in a completely new country! Money is a very important subject for a lot of businesses, so there will always be many opportunities in the sector.
DYK?: In 2012 Facebook bought Instagram for £631bn! Investment analysts helped make this decision by estimating the worth of Instagram, and the profit they could make from it!
Learning about financial & related services
If you're into finance already, you're going to love these numbers... If financial & related services aren't your thing though, they might be after this!
- Business Management
- Portfolio Management
Top advertised jobs
- Payroll Manager
- Insurance Clerk
- Business Professional
What's out there for me?
In financial & related services, you can be anything you want to - from handling decisions, to handling money! Here is just a quick look at some of the things you could see yourself doing in your career. Nationwide Education is a great website with lots of resources and games to play so be sure to check them out once you're done here!
Accounting Technician: £16k - £22k+
You might not be ready to make the big decisions for a business yet, but you can still help out! Accounting technicians prepare all the costs and important data that accountants and business executives will use to chose how to move the business forward..
Corporate Treasurer: £35k - £50k+
The money a business has is the life of a business, without it, the company will fail. A corporate treasurer makes sure the business is healthy and can steadily maintain its spending and try and increase the income of the business.
Insurance Underwriter: £20k - £25k+
Working in an insurance company means that the business will pay people when things go a bit wrong. Insurance underwriters make sure that a claim is genuine, meets the terms of the contract and they also ensure that their company pays fairly when it should.
Actuary: £33k - £52k+
Risks don't just happen to people, they happen in business too. An actuary knows this and does their best to protect the company with their top economic knowledge. Assessing the likelihood of an event happening, and accounting for it financially when necessary, is a key part of the job.
Tax Adviser: £20k - £30k+
Tax advisers can work for businesses or people but they do very similar things. Their knowledge of the rules and laws about when companies or people owe money helps make sure that everyone is paid the right amount and that they don't do anything illegal to ruin their business.
How to get into financial & related services
Now that you have got a taste for what the industry is about, why not download your free careers fact sheet or head over to The National Careers Service where you can find out information about more careers in the financial & insurance sector. You could also check out other sites like moneymakesense.co.uk or cisi.org/getintofinance.
There are loads of ways to get into this sector from taking an apprenticeship, going to University or even switch from an existing career, for example a para-planner, customer service, sales or administration background. Many employers will provide in-house training.
Want to know what it's like on the job?
A day in the life of an RBS apprentice
Watch RBS's new video on one of their apprentices and why they're enjoying earning money while building their career.