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Careers in banking: An overview

Careers in banking can provide you with a good, steady income over a long period of time. Job positions range from commercial to retail positions. Because retail banks are largely for individual and small business banking, retail banks typically are not as large as commercial banks, which are focused on investments and loans. Hence, careers are more abundant at commercial banks.

Here are several examples of careers in banking: loan officer, bank manager, bank teller, financial analyst, investment banking, accounting and other finance based positions. With the growing use of online banking, information technology opportunities at many banks are increasing.

Understand what qualifications you need to work in a specific banking position. For example, careers in finance banking will require you to at least have a bachelor's degree in business; however, with competition getting tougher, a Master's in Business Administration is preferred. A law degree is also preferred for higher positions at banks.

Salary for jobs within the banking industry vary. Those with work experience will start at a higher salary than those who make less. Moreover, jobs at bigger institutions will typically pay more than jobs at small, local banks. Positions such as an investment banker or financial analyst will also pay more. Many investment bankers make upwards of $1 USD per year.

Skills valued in the banking industry include the following: creative problem solving skills, strong quantitative ability, knowledge of the stock market and economy, good communication skills, effectiveness and an entrepreneurial spirit. Other skills like second-language skills and writing skills are also valued. Most positions at banks are fast-paced and require the ability to work under pressure. Be sure a position suits you before accepting it.

Large banks like HSBC, Barclay's, the Royal Bank of Scotland, Citi Group and others will typically have positions open. Check the websites for more information on careers in banking at these institutions.

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