Banking Careers
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How to Start a Career in Banking
Commercial banks offer these services:
- Keeping customers' money and other valuables secure
- Lending money and offering credit
- Providing payment services such as checking accounts, money orders, and cashier's checks
Although banks have recently begun to sell insurance policies and offer a range of investment services, interest on loans is still the main source of revenue for most banks.
Bank tellers, clerks, customer service representatives, and other support staff make up the majority of bank employees. These professionals manage the income-generating operations of banks:
Job Responsibilities:
- Ensures the accuracy of financial statements and public records
- Advises management of financial decisions, including tax consequences
- Audits the financial and other operations of the company
Recommended Qualifications:
- Ensures the accuracy of financial statements and public records
Median 2004 Earnings: $51,000
Financial Analyst
Job Responsibilities:
- Researches investments (e.g., initial stock offerings) and projects their future values
- Recommends investments to the bank
Recommended Qualifications:
- Bachelor's or master's degree in business administration or a related area
Median 2004 Earnings: $60,000
Financial Manager
Job Responsibilities:
- Manages a branch office or a specific business function such as trusts, mortgages, or investments
Recommended Qualifications:
- Bachelor's or master's degree in finance, economics, business administration, or related area
- Banking experience
Median 2004 Earnings: $65,000
Financial Services Sales Agent
Job Responsibilities:
- Sells banking and other financial services
Recommended Qualifications:
- Bachelor's degree in business administration or related area
Median 2004 Earnings: $49,000
Loan Officer
Job Responsibilities:
- Works with businesses and individuals to complete the loan application process
Recommended Qualifications:
- Bachelor's degree in finance, economics, or related area
- Banking or sales experience
Median 2004 Earnings: $49,000
Personal Financial Advisor
Job Responsibilities:
- Analyzes financial needs of individuals and recommends investment optionsa
Recommended Qualifications:
- Bachelor's degree
Median 2004 Earnings: $57,000
Source: Occupational Outlook Handbook, 2006-2007 Edition; Bureau of Labor Statistics, U.S. Department of Labor.- Browse accredited accounting programs in the CourseAdvisor Directory.
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