The adage "Money makes the world go round" has probably been heard by you. The finance sector keeps businesses running smoothly, puts money in our pockets, and provides us with funding for all the necessities and extravagances we pursue. Continue reading to find out which businesses are in the finance sector and what advantages they provide employees if you're looking for employment opportunities in this lucrative industry.
The financial industry provides both stable employment and competitive pay. The Bureau of Labor Statistics predicts that some financial professions, including financial analysts and personal financial advisors, will experience above-average growth over the ensuing ten years.
The most typical categories of financial services businesses and the top financial employment opportunities are covered below.
Types of Finance Companies
Take some time to become familiar with the most typical types of finance companies before diving into what companies are in the finance industry.
- Commercial Banks: Commercial banks are financial institutions that offer general banking services to individuals and businesses.
- Central Banks: Central banks are monetary authorities that offer financial services to government agencies and the commercial banking system.
- Credit Unions: Credit unions are member-owned and nonprofit financial institutions that offer the same services as commercial banks.
- Investment Banks: Investment banks purchase holdings and newly issued shares and resell them to investors.
- Savings and Loan (S&L) Associations: S&L associations provide savings deposits, mortgage loans, and loans for home renovations.
- Insurance Companies: Insurance companies provide insurance policies designed to protect individuals and businesses from liability and damages.
- Brokerage Firms: Brokerage firms connect buyers and sellers to complete investment transactions. They typically work with stocks, bonds, and other securities.
- Mortgage Companies: Mortgage companies underwrite and issue financing to homebuyers with their own capital.
- Financial Planning and Advisory Firms: Financial planning firms help individuals and businesses set financial goals and allocate their funds in a way that increases wealth.
What Companies Are in the Finance Field?
In the United States alone, there are over a million financial institutions, including local, state, regional, international, and national ones. The largest finance companies are listed below, along with information on how to apply for jobs there.
Bank of America
Founded in 1904, Bank of America is one of the world’s leading commercial and investment banks. It provides wealth and risk management services in addition to standard banking services and financial products like business loans, credit cards, and mortgages.
Why is Bank of America among the top financial organizations to work for? More than 200,000 people are employed there in a range of positions, including call center, customer service, and teller work.
Capital One
One of the best financial institutions in the world is Capital One. Consumer and commercial banking as well as credit are among its main financial services. Capital One also takes great pride in its commitment to philanthropy, customer service excellence, and financial inclusion.
You can choose from careers in software engineering and customer service if you're interested in working with Capital One. Almost 50,000 individuals are currently employed by the company.
American Express
Individual customers, small and medium-sized businesses, and corporations can choose from a variety of credit solutions offered by American Express. In reality, in 1958, American Express is credited with launching the first credit card in the United States and Canada. It now provides a ton of member benefits and incentives, such as the traveler-friendly Membership Miles program.
You can discover a wide variety of employment with American Express, including positions as a travel agent, a technologist, or a financial analyst.
Liberty Mutual
One of the best insurance companies in the world, Liberty Mutual places a strong emphasis on innovation and sustainable growth. The company provides a wide range of insurance services, including property insurance, group disability, workers' compensation, and auto insurance.
If you're searching for employment as an insurance underwriter, claims adjuster, software engineer, or financial analyst, it's one of the best places to work.
Citigroup
Citigroup, one of the leading providers of financial services, provides commercial banking, securities services, treasury and trade solutions, and much more. The business was founded in New York City in 1812, but since then, it has expanded its services internationally.
Citi offers a wide variety of jobs in the financial sector, from customer service to financial counseling and portfolio management. In actuality, Citi employs about 200,000 employees at the moment.
Goldman Sachs
Since its founding in 1869, Goldman Sachs has grown to become one of the world's top providers of private financing. Additionally, it focuses on municipal finance, international equity trading, and real estate financing.
You'll discover that Goldman Sachs is one of the top employers for finance majors when you start your career there. That's because the organization has numerous chances both on-site at its 60 locations throughout the world and remotely. Here, data science, accounting, and financial planning and analysis are some of the most sought-after careers.
Morgan Stanley
Are you seeking for a chance to assist businesses, organizations, and people in reaching their financial objectives? Consider a career with Morgan Stanley, one of the biggest financial management companies in the world.
If you're searching for employment in investment banking, financial analysis, client services, product management, or auditing, Morgan Stanley is among the greatest financial organizations to work for. The business today has offices across the world and approximately 60,000 employees.
JPMorgan Chase
JPMorgan Chase, which was established in 2000, is regarded as one of the best financial services providers in the world. It specializes in investment banking and financial holdings, and in 2010 it was the first financial institution to launch mobile banking.
From entry-level to executive roles, JPMorgan Bank offers a wide range of employment. Wealth management, financial analysis, accounting, auditing, marketing, and IT positions are a few of them. More than 250,000 people prefer to work for JPMorgan Chase, which is understandable.
Fannie Mae
Congress first established Fannie Mae in 1938, at the height of the Depression. Since then, it has assisted American families and millions of World War II veterans with their housing costs. It is currently one of the top financial organizations in America, providing long-term, fixed-rate mortgages.
Underwriters, experts in property preservation, IT specialists, and many other professionals have a ton of opportunities at Fannie Mae. The organization has more than 7,000 employees and more than 50 offices spread across the United States.
Allstate
One of the top insurance providers in the country, Allstate takes pleasure in their catchphrase, "You're in good hands." Allstate offers a variety of adaptable insurance options, including policies for identity theft protection, phone protection, business, life, and property. Additionally, the business provides online and mobile app policy management services.
Allstate has many chances, whether you're looking for a remote employment, a paralegal position, or an actuarial career. Currently, the organization has more than 50,000 employees working in a range of positions.
Travelers
One of the leading suppliers of individual and commercial insurance plans is Travelers. Its programs cover services for property, casualty, and risk management as well as auto insurance, workers' compensation, and homes insurance.
Over 30,000 individuals are employed by the organization nationally in customer support, claims, underwriting, sales, technology, analytics, and many other areas. Many entry-level, remote, and senior corporate positions are also available.
MetLife
One of the top insurance and investing firms in America for more than a century has been MetLife. Auto insurance, health insurance, retirement investment plans, and savings products are among the services it offers. The business now provides its services in more than 40 markets throughout the world.
At MetLife, there are numerous options for employment ranging from entry-level to advanced. Its most sought-after positions are in customer service, actuarial services, adjuster work, and legal services, and it has more than 40,000 employees.
Why Work in the Financial Sector?
Let's look at the top reasons to work for a company in the finance industry now that you are aware of what they are. These are four advantages of working for the top financial institutions:
- High Earning Potential: If you’re looking for a high-paying career, finance is the way to go. Get a glimpse of how much you can earn in the finance industry with this list of the highest-paying finance jobs. Plus, you can use Monster’s Salary Tool to find out how much specific finance jobs pay. Just enter the job title and location into the search bar to see the median salary and pay range.
- Plenty of Career Options: Whether you just finished your finance degree or are an entry-level employee looking to move up, your career in the financial industry can go in any direction. Finance companies often look for skilled candidates to fill financial, marketing, management, IT, and legal roles.
- Tons of Growth Opportunities: No matter where you begin in the financial industry, there’s always room for growth. In fact, Monster has listed financial management as one of the finance jobs with the highest growth opportunities in the future.
- Excellent Benefits: Benefits vary from one company to another. Some of the benefits offered in the financial industry include annual bonuses, 401k matching, stock options, health insurance, paid family leave, business travel expense coverage, disability and sick leave, and vacation time. Some companies offer student loan assistance, tuition reimbursement, rewards programs, company cars, and other incentives.
Invest in Your Finance Career Today
You've now chosen that you want to work for some of the companies in the finance industry after learning about them. How do you seize the numerous employment prospects in finance? You may benefit from free email alerts and make your resume available to hiring managers at financial organizations when you create your free profile on Monster. Also, we have a ton of career guidance articles that can support you while you pursue a job in finance, from refining your résumé to acing tense interviews.
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