Financial Service, an influential sector of the modern economy
The financial sector is one of the largest portions of the S&P 500. Seven out of the nine months thus far in 2019 have delivered positive returns on the S&P 500 index.
Financial Services refers to a broad range of more specific activities such as Banking, Investing & Insurance. In Global Financial Service Market the Lending & Payments market and Asia-pacific financial service market accounts for the largest share.
"In 2018, Finance & Insurance represented 7.45 ($1.5 billion) of US GDP."
The growth in Financial Service Market is due to increasing demand for :
- Insurance & loans
- End-user investment & global economic growth
As of the close of trading on March 11, 2019, the Financial Sector had a combined market capitalization of $6.97 billion and the sector pace of revenue growth in 3 Q 2019 is decelerated to 9.88% year-on-year(y/y), below the sector average, but it is expected to reach a value of nearly $26.5 trillion by 2020, significantly growing at a CAGR of 5.9% during the forecast period.
Revenue per employee in the 3 Q 2019, for Financial Sector, was $1,389,979 and according to the Bureau of Labor Statistics (BLS), the employment outlook for the finance industry is expected to grow at a .9% rate of change every year.
"A dollar today is worth more than a dollar in the future."
The most in-demand Finance Job Titles are :
- Financial Analyst
- Financial Branch Manager
- Financial Examiner
- Budget Analyst