Financial professionals are often viewed as having the highest quality of education, and many of the highest incomes.
But is this just because they’re paid well?
A new study by the University of Queensland’s Dr Kate Williams, and a team of researchers from Melbourne’s RMIT University found that financial professionals with a BSc in banking, or those with a bachelor of banking qualification, are actually more likely to be employed in lower-paying jobs, such as in financial services, than those with no qualifications.
The study, published in the Australian Financial Review, also found that the average income for a financial specialist with a BA degree was $90,000 more than the median annual income for financial professionals without a qualification.
What is a financial institution?
Financial institutions (FCIs) are businesses that operate outside of Australia’s banking system.
They typically have an interest in a particular financial product, such to manage your money or offer you a discount.
In some cases, FCA’s may have branches and other offices around the country, where they are also regulated.
Financial services and investment Banking, financial institutions and other financial services are businesses which can charge interest to customers for borrowing money or investing.
They are also involved in the sale of securities, commodities and other products and services.
In Australia, there are some different types of financial services.
For example, financial advisers, investment advisers and money market fund managers are all classified as financial services businesses.
There are also a number of different types or types of banks which can offer their customers services and products.
FCA firms have the highest levels of banking, the highest average incomes and are among the most successful financial services firms in Australia.
They employ a wide range of staff, from accountants, auditors and other professionals to accountants and other professional staff.
There is a lot of competition in the financial services sector.
As well as the major banks, there is also a small number of smaller banks.
Firms which are regulated are the ones that have a particular regulatory focus.
For instance, some banks do not have to apply for a licence for trading in shares and derivatives, or are exempt from the requirements for trading a financial instrument such as a bond.
But some FCA businesses are subject to the same regulatory requirements as financial institutions.
For more information on FCA regulation, visit the Australian Securities and Investments Commission (ASIC).
Source: ABC News | Duration: 1min 20secTopics:financial-services,business-economics-and-finance,financial-institutions,australia