The financial industry plays a vital role in help function the economy. It consists of firms/institutions that provide financial services to retail and commercial customers. The sector consists of banking institutions, markets and brokers. The primary function of this sector is to take funds from savers and lend them to those who wish to borrow.
There are various roles within this sector ranging from Business Banking, Life Assurance and pensions, Accounting, Investment banking and many more. According to House of Commons Report in 2018 the financial industry contributed £132 billion to the UK economy with the most significant increase in London.
Jobs in financial sectors rise and fall with the economy. According to the British Bankers Association, on-line/mobile banking, information security specialist and compliance officer are due for significant growth in the next 20 years.
There are 5 overarching Industry Pathways for people interesting in pursuing a career within Finance:
- Banking Services
- Business Finance
- Securities & Investments