What is Financial Services?

I know what you are asking yourself...How do I even know if I want a career in financial services if I don’t know what it is? Well, this post is for you!

Financial services, in short, are professional services involving the investment, lending and management of money and assets.

In Australia, Financial Services is a very important component of the economy. In fact, the financial services sector in Australia is the largest contributor to the national economy, accounting for around $140 billion to GDP over the last year. Over 450,000 Australian’s are employed in the sector and it will continue to be an important contributor to the strength of the Australia’s economy into the future.

At the heart of the financial services sector are Australia’s four major banks. These banks are some of the safest and most profitable banks in the world.

Given our superannuation, or retirement savings, sector, we also have one of the worlds largest pool of investment fund assets.

Together our banking and superannuation sectors help to make Australia a powerhouse in the global financial services industry.

The sector is also ripe for the picking when it comes to new technology and the burgeoning Fintech industry in Australia is often acknowledged as offering some innovative new ideas that could be applied globally.

It’s a great industry to be involved with and can provide some fabulous global opportunities.

I look forward to welcoming you into a wonderful industry that is making a meaningful impact to the Australian economy.