When we come across the words finance companies, automatically, more often than not, people would associate the different banking institutions and lending organizations only. Where in fact, finance companies, is not just limited to those two identified organizations. But yes, they are also considered as one of the finance companies, around the globe. But technically, in terms, finance companies, are actually any companies that would at least offer a financial services for the consumers and even to its employees.
Generally, so to speak, any companies that would be able to allow consumers to either deposit, make loans, insures things, doing pension funds as well, investment funding and even brokers, are being considered as one of the finance companies. For the most part, their functions would really be acting as financial mediators. For the reason that, they just chiefly aid the stream of the currency through the financial system. In addition, it has been evident, financial organizations are heavily regulated as they are the most critical parts of the countries’ economies. So I guess the question now is, when can we consider an organization as a non bank financial institution.
Opposing to the definition of finance companies, non-banking financial institution, is a financial company that does not have complete banking services. For example; pawnshops, currency exchanges, microloan organizations, contractual savings, risk pooling, insurance firms, check cashing locations, market brokering and others. Sometimes there are also called alternative financial services. But it really does not matter if they belong in the banking category or non banking category. What is pertinent with these different companies is that they would be able to assist in providing financial needs to the consumers. I mean at the end of the day, their common goal in getting things done financially, would really should be the true measure of these companies.
It is truly enough, at least for the newly graduates in general to have idea or a goal and objective as to where would you want to set off first your career. And understandably, most people would really want to be in the field wherein they are at least familiar with the concepts of the company that they would be joining. Having a competitive advantage to the other applicants or maybe employees, if in case, will get accepted, would not be a bad idea at all. In addition, I am pretty much sure, that students, who just concluded a bachelor’s degree majoring in finance, would ask the question as to what are the potential salary range and possible finance careers and positions available to them right now. Well, in reality, finance is the moral fiber in the corporate world. So, that being said, they absolutely would end up having finance careers in any kind of industry. If we have to decipher the meaning of finance, well, it is just on the whole, managing the financial decisions of the business. So, they will be also a major part in those decisions once given a chance to be part of a team.
Bottom line, they will have a shot in an entry level role, if they would really want to bank on having finance careers, whether in banking environment, insurance as well, brokerage firms, and any other corporations. And the potential job titles would be the following; financial adviser; financial analyst; financial officer; financial planner; underwriter; they could be a loan officer; controller and finance careers positions that would at entail the basics of finance study. In conclusion, there is a wide range of selection, when it comes to choosing which path or career a person would like to venture, either right after graduation or changing gears of environment.