Why Have a Career in Financial & Professional Services?
Missouri has a strong presence in the Financial and Professional Services industry, being home to several Fortune 1000 companies including Centene, Reinsurance Group of America, and Jones Financial (Edward Jones). The Financial & Professional Services industry makes up 12.3 percent of total private sector employment, employing over 278,000 workers in more than 26,000 businesses in 2020. Employment has been growing an average of 0.2 percent per year from 2015 to 2020. Missouri’s Financial & Professional Services industry has a similar employment concentration to the rest of the nation, with particularly high employment concentrations in Management of Companies & Enterprises and Marketing Research & Public Opinion Polling. Wages in this industry averaged $90,512 in 2020, much higher than the state average of $54,801 for all industries.
With many career paths to choose from, as well as high employment, wages, and solid growth, the Financial & Professional Services industry has many opportunities for a rewarding career in Legal Services, Business Operations, Sales & Marketing, and Financial & Insurance Services.
Know the Basics
Careers in this industry frequently involve interactions with the public, therefore customer service skills and being able to talk about the benefits of a service or accept criticism as a professional company representative is a must. Soft skills, such as interpersonal skills, professionalism, and dependability are important in all industries and occupations, including the Financial & Professional Services Industry.
Skills needed for Success
The Financial & Professional Services field has a set of industry-wide technical competencies that represent the knowledge and skills needed to be successful in these industries. Familiarity with relevant regulations, codes, and laws imposed by regulatory agencies is crucial. Knowledge of business operations, financial reporting, and technology applications are some of the skills that are needed for success.