Understanding the Industry

By Mark Kolakowski, About.com Guide to Financial Careers

Not quite sure what the financial services industry is all about, or whether it might be a suitable place for you to pursue a career? All you need to know is right here at your fingertips. Take this easy self-study course and you'll be up to speed.

1. Key Background Knowledge
2. Industry Trends
3. Major Employers
4. Choosing Employers

Key Background Knowledge

Here's a crash course in all the basic knowledge you need to understand the industry, and start finding your place in it. Along the way, we cut through some of the jargon that may confuse the casual observer.

• Industry Overview
• Why Work Here?
• Understanding Job Titles

Industry Trends

Here we discuss major trends in the industry and, even more importantly for you, their impact on careers. We include both trends that already are well underway, and trends that we anticipate materializing in the near future. Familiarize yourself with these currents and you're even better positioned for making informed career choices.

• Mergers & Industry Consolidation
• Impacts of Consolidation on Careers
• Telecommuting

Major Employers

Here are some of the principal categories of employers within the financial services industry. Under each heading are profiles of leading firms or organizations, but note that classifying these employers is subject to interpretation, since many are highly diversified. Moreover, this list is very much a work in progress, since we are continually adding employers and categories.

• Best Places to Work in Finance
• Worst Places to Work in Finance
• Banks
• Financial Information Services
• Insurance Companies
• Investment Companies

• Non-Bank Lenders
• Public Accounting Firms
• Credit Rating Agencies
• Regulators, Exchanges & Industry Organizations
• Securities Firms

Choosing Employers

There are number of factors to consider in deciding where to work. Apart from your preferred career path or industry segment, consider the corporate culture. Do you want more or less structure? Does the company treat its employees as assets or as liabilities? Is it open and forthright in its communications with employees? Are performance and reward closely linked? Is seniority an important factor in advancement? The list is virtually endless, but here are some key considerations.

• Choosing Employers: Basics
• Are Top Employees Assets or Liabilities?
• Employee Communications: Straight Talk?