How do The Insurance And Banking Sectors Offer Job Security?

How do The Insurance And Banking Sectors Offer Job Security?

Many people are of the notion that the banking and the insurance sectors are not meant for those who look for job stability or newer challenges in their work. These are not seen as a glamorous career by many who are in search of a good profession. Many people are of the opinion that working in the insurance sector means working only as an agent. However, the scenario is not the same. To drive away this false notion we need to educate people more. 

In these financial uncertain times surviving in this world is impossible without any proper banking or insurance platform. However, many people are still there who finds it less worthy to establish a career in insurance and banking. Securing your career in insurance and banking sector can be a bit tough, but it is neither impossible nor worthless. 

Insurance sector

We would be missing the pleasure of a safe life without insurance sector. No insurance means no home ownership, no professional consultants, no doctors, no offices or factories, no constructions and even no shipping. This in the long run means no business and no new innovations. In other words the world will come to a standstill. Now this might be taking the imagination too far, but the truth is that the role of this sector is to offer financial security to individuals as well as organizations to fight against circumstances and unforeseen risks. Insurance is something more than just home and motor insurance, sportsperson and celebrity insurance, events and concerts. Even games like the Olympics are dependent upon the insurance sector. 

Insurance companies

Financial aid is provided by the insurance companies in the form of policies. The insurance brokers works in these companies for the sake of the customers to give them the search for the best policy at the best value. Sales in the insurance sector is all about making sure that the consumers realize their needs after being explained and dealing with the different options. The main business in this sector is to work with business or individuals to deal with risk to guard them against any catastrophic failure as well as to await latent risks.  

Job prospects

There are numerous exciting job opportunities that this sector offers. Interested people can choose among the different roles like sales, assessing and processing of claims, assume greater business roles like finance and marketing to bigger insurers. This is a highly reputable sector and the qualifications are mobile globally. Numerous insurance graduates are there who are qualified from Ireland. Such individuals are capable of securing their jobs in the industrial sectors of London, Europe, Bermuda, Dubai, Australia, New Zealand and Canada.  If adventure and travel is your point of interest then the industrial sector is what you need. 

Banking sector

Millions of monetary transactions take place every day in the banking sector. This huge movement of money is executed properly under the able guidance of those working in the banking sector. According to recent studies near about 90,000 people are employed everyday across this huge banking sector. The importance of this sector was evident from the recent banking crisis. To assist the people in the economic crisis all the banks took an active role in order to keep them stable and keep the flow of business intact. Employment in the banking sector also became highly available which makes this sector to be in the number one position. 

Types of banking

Banking can be divided into three potential areas. These are- retail banking, corporate banking and investment banking. The retail banking provides assistance to the smaller business and individuals. The corporate banking provides banking aid to large organizations and in the investment banking department the money of the customer is invested in the stock market, gilts, bonds and in the foreign exchange to make huge profits. 

Career prospects

Numerous young graduates are entering into this sector after completion of their studies in financial studies, economics, accountancy or business, applying to new bank jobs. People are there who even go for the banking sector after leaving high school or even at the later stage of their life. This is because this is the sector that doesn't ask for very high qualifications and neither it is going to collapse any time soon in the near future. Most of the banks are in search of people who have excellent communication skill and feel comfortable handling large amount of monetary transactions. The role of a bank manager is the most crucial role and employment is also available in this position for the able candidate. 

In other words securing your career in insurance and banking is not a tough job as employment opportunities are available in ample in both the sectors. All you need to have is the right qualification and the urge to work. 


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About The Author

Saurabh Tyagi

Saurabh Tyagi is a blogger and a professional career author with proven expertise in writing for topics related to jobs, job trends, different job opportunities, various workplace and industry information, tips and strategies for job seekers.

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