Banking Career

Making a Career in Banking

A banking career offers a wide range of career possibilities. Before considering a career in banking, get rid of the idea that all it is, is standing behind a glass issuing and accepting money. Banking is much more than being a teller and offers many rewards. For persons who are truly committed a banking career is fulfilling.

What is involved in a Banking Career?

The two main aspects of banking that everyone knows are being a bank teller and a loan officer. There are many other aspects to a career in banking however. Not only are there different career paths but also different skill sets needed.

One of the little discussed cons of a banking career is the long hours. Banking work does not end when the bank door closes.

Education Needed

There are no formal education qualifications for some categories of bank staff such as tellers. However, many bank tellers and other entry level staff in most banks have at least a high school diploma. Nonetheless different careers in banking require different education and training and personality types.

In addition to educational qualification, persons in banking need to be patient and pay attention to detail. They need patience since they will from time to time come in contact with difficult customers.

Salary

Salaries in the banking field vary greatly depending on level and type of bank. Information available online from the Bureau of Labor Statistics, U.S. Department of Labor, Career Guide to Industries, 2008-09 Edition indicate that salaries range from $10.64 per hour to a high of $40.89 depending on job title and experience or about $535 per week for non-supervisory workers.

Opportunities in a Banking Career

There are many opportunities for advancement in banking. With hard work and dedication, an entry-level worker such as a bank teller can become a branch manager or even higher. Here are some additional banking careers:

Loans Officer

One of the most well known careers in baking apart from being a bank teller is that of a loans officer. A loans officer primarily accepts and/or reviews applications from people seeking loans. They then determine whether or not the loan can be granted and determine the terms of the loan.

Bank Teller

This is the bulk of bank employees. Tellers take deposits, make lodgments, process withdrawals and cash checks. They are also the face of the bank in many instances as they interact most with customers.

Branch Manager

This person may go by other names but their function is to manage a particular branch of the bank. They ensure that staff are meeting the objectives/goals of the bank while meeting the needs of customers.

Customer Service Agent

Customer service agents work to help the bank’s clients with issues or questions to do with their accounts and services. They help customers online, via the telephone or in person to solve whatever issues they may have. They also assist in setting up new accounts and answering questions. In most banks they are also sales persons who sell additional services offered by the bank.

Administrative and Clerical Workers

They provide support services to the other employees. These are the secretaries and administrative assistants who assist with typing and filing. They also help with staff welfare and correspondence.

In addition to the above, different types of banks also have other careers within the banking fields. Some of these include investment bankers who work in investments and portfolio management. Technology has created new careers within the banking field as well. Many different categories of IT staff are now being employed within banks. These include systems administrator and computer technicians who are skilled in computer repair and troubleshooting.

Working Conditions

Many banks have part-time employees, especially bank tellers. As mentioned previously, many banking professionals work the traditional 40 hours per week. Some banking staff even work on Saturdays depending o n the bank’s opening hours.

Anyone interested in working in a bank will find that there is scope for upward movement. In fact, banks are one of those industries where promotion through the ranks is fairly common. Bank tellers can and do move up to managerial roles over time, especially if they upgrade their qualifications. Plus, there are benefits to working in a bank that are not available in other industries, such as special interest rates on loans and medical insurance.

In addition to the basic qualifications, persons working in banks must have a clean criminal record. Banking is a good career choice for those who are willing to put in the hours and remain committed.