Business enterprises in public and private sectors require financial management assistance in one form or the other, from providing small loans to financial market analysis. This is a continuous process and the emergence of new businesses opens career opportunities in banking sector. Banking careers revolve around but not limited to lending money, offering credit, providing payment services to individuals and businesses and providing security for customers’ money and valuables. The sped up life and increased competition within the banking industry requires individuals to become more competent in order to survive and grow.
Opt for Relevant Education:
In banking, the list of career options spans diverse roles from tellers, accountants and auditors all the way to the top to risk management specialists and beyond. The first step is to identify the area of interest and match education options to a particular field. A student aiming at a banking career needs to have an interest in numbers with a strapping background in mathematics along with computer skills.
Students can major in general finance gaining an education in core business, bonds, economics, financial reporting, government finance, investment, portfolio management, corporate finance and statistics. Students also have the option of taking credit management majors covering training in accounting, communications, computer science, ethics, information technology, finance, law and management.
Polish Your Skills:
Individuals interested in a banking career need to have certain basic skills that would include attention to detail, goal-orientation, accuracy, ability and willingness to keep learning, dependability, honesty, no criminal record and a drive for perfection.
Don’t Miss the Job Opportunities:
Colleges and universities generally arrange internship programs for students as part of the hands-on training provided. These jobs include finance internships, bank teller, bookkeeping, credit analyst, financial analyst, financial reporting and other banking related jobs. Career oriented students can make use of these opportunities to establish a banking career.
There are numerous entry level positions within the banking industry ranging from tellers to clerical staff. Compensation ranges from 15000 to 30000 dollars per annum depending on the specific job profile and requirements. Candidates having a college degree or any other specialized training courses are preferred. However, a high school diploma combined with good math, computer and people skills will often do the trick for getting an entry level position.
Work on Career Progression:
Starting a banking career at entry level requires you to stay focused and have expertise on all your tasks. A normal individual needs about 2 to 3 years to move to the next level. If you’re in a leading institution and competent enough to take new challenges, this is the time when you should look for area of specialization. In case if you’re not working in a leading institution, you might need to look around for a better move. If you’re not a leading institution by the end of Sixth year, experts’ advice another move and by the end of 10th year you should be at a senior level in a top tier firm. According to stats, mostly people in banking sector reach the senior most level by their 15 year in the industry. Keep this career path in mind while moving ahead!