1. Certificate for Introduction to Securities & Investment (Cert.ISI) Unit 1 Lesson 1:  Putting Financial Services into perspective 1cis

2. The majority of financial services employment is in banking with 450,000 employees (in 2007); insurance 325,000 (2009); and fund management 50,000 (2008). UK employment in financial services was 1.001m in June 2009, versus a high of 1.064m in 2007. Financial services employment in 2009 accounted for 3.5% of UK employment totalling 28.9m The importance of Financial Services to the UK economy UK Financial services’ share of GDP in major economies. Source: The CityUK Shares of UK GDP. Source: ONS National Accounts Blue Book

3. The importance of Financial Services to the UK economy UK financial services contributed a total of £61.4bn to UK government taxes during 2008/09. This was down 9% from the total of £67.8bn two years previously. Tax contribution of UK Financial Services. Sources: HMRC, PriceWaterhouse Coopers TheCityUK annual survey 2009 UK sector trade balances. Source: ONS Balance of Payments Pink Book Financial sector net exports have grown strongly over the past decade. Strong underlying business across a range of activities, particularly banks, contributed to a 28% rise in net exports to a record £50.5bn in 2008, £11.1bn up on the £39.4bn in 2007

4. What sort of job are you likely to end up doing? Source: ONS If you live in London and the South-East (and want to continue living here), you are 7x times more likely to get a job in the Services sector than in any other area of employment City-type jobs account for 6% of all the Services sector jobs in London and the South-East

5. Why seek a career in Financial Services? On average, a degree is now worth an estimated £130,000 in higher earnings over the working life of a graduate (down from £200,000 in 2003, and falling)  Starting salaries in investment banks are £32,000 to £40,000  Average graduate starting salary in 2008 was £24,000  The starting salary of a qualified teacher is £25,000  Average salary in 2008 for all UK employees was £26,000  The average graduate debt is £20,000 Financial Services pay is substantially higher than in the rest of the economy The type of qualifications you have will have a substantial effect on your earning power  The more “vocational” the better

6. Careers in Financial Services  Stock-broking  Sales  Research  Trading  Settlements  Custodian services  Corporate Finance  Banking  Investment management  Hedge Funds  Private Equity

7. Over 95 per cent of adults in Britain have at least one bank account and 98 per cent of people live in households where someone has an account.