How To Get a Banking Job
Is working in the bank your lifelong career aspiration? Wait no more because you are about to get solid information on how to get a banking job without delay.
Working in a bank comes with many benefits and it ultimately elevates you socially, professionally, and financially. In an industry such as this, there are thousands of people vying for the same position in a bank as you.
Thus, you need all the help you can get in terms of information and guidance. Well, it’s about time you got an unfair edge over your peers for a spot in the banking industry.
Let’s get started!
Why get a banking job
A banking job has many benefits which is why it is understandably the premier career path for many people. If you need more reasons why you should keep pursuing this career, here they are:
Bankers earn a decent salary
Doing what you love is more important than what pays the most according to popular opinion.
What could be better?
Doing what you love pays just as well! That is what getting a bank job offers you.
Bankers are some of the best-paid professionals in the world. They generate high income regularly for their employers who in turn pay them relatively highly for their efforts. Thus, if you were never truly motivated by the financial benefits of working for a bank, you should be.
The job improves your social intelligence
If you are looking for a job that will help you socially, a bank job does that and more. Bankers work with a team of professionals daily to meet their targets. Likewise, they are always in direct contact with customers either face-to-face, through phone calls, emails or messages.
Communicating regularly with people alleviates the feeling of loneliness and helps people come out of their shells. Also, it helps to understand people better, relate to people better, and be socially active.
You dress better
For those who are not the best dressers (especially men), working in a bank will help immensely. Bankers are some of the best-dressed professionals anywhere in the world. It is company protocol to dress sharply and neatly at all times.
Although not everyone likes it at first, they warm up to it later on. Indeed, some aspiring bank workers developed an interest in banking due to the dress codes.
Access to vital industry resources
Working in a bank helps in career development. Banks are some of the most equipped places to work. They have nearly all the tools employees would ever need to perform their duties to the best of their abilities. From sophisticated banking software to learning materials, a banker grows rapidly during their time on the job.
Scheduled training
For some of the best professional experiences and development, you should start making moves to work in a bank. Banks are dedicated to providing the best training for their staff, especially the new candidates. Also, banks take their time to schedule training sessions for their employees to help them get better at their jobs.
These training sessions will help bankers in their careers even when they leave their current job. The experiences and skills a banker acquires during their career are mostly from training sessions sponsored by the bank.
Reasonable benefits
If you thought that the benefits you get from working in a bank are limited to a decent salary, there’s more. Banks, like most reputable organizations, take care of their employees to a reasonable degree. When you work in a bank, you are sure to receive several benefits that help you worry less.
These benefits include health, vacations, bonuses, and other undisclosed benefits for a senior or a star employee.
You get to meet influential people
Working for a bank opens doors of opportunities to network and meet influential people. Bankers (especially top bankers) are usually friends with celebrities, business moguls, and people in government.
The reason is not far-fetched: they help these influential people manage their finances and make money for them also. Thus, making the acquaintance of people who you never imagined you could meet comes with the job. Don’t be surprised when they invite you out to play golf.
Qualifications and education required for a banking job
For most banking jobs, a university or college degree is the least academic qualification required. A Bachelor’s degree in Business Administration, Accounting, Banking, and Finance is fitting for most bank jobs.
Also, a Bachelor’s degree in Mathematics, Statistics, or Economics is welcome for roles as an Asset Manager or Financial Adviser. Employers would mostly consider bankers with at least a Master’s degree in related fields for senior banking positions.
How to get a banking job fast
The competition for banking jobs is stiff and everyone is looking for the easiest possible route. If you happen to be one of these people, your search is over. These are some of the best ways to get a banking job sooner than you know it:
Become a member of professional associations for bankers
Like any other group of professionals, bankers take their professional association seriously. They see it as an avenue to rub minds and shoulders with their peers and those they admire. These professional associations are like a haven for bankers who disclose information that can help you get a banking job. Besides giving helpful information on the banking sector, joining these associations will give you access to special events. Also, when new job openings become available, you will know.
Develop more soft skills
Although the educational background and qualifications come first for getting a bank job, soft skills are a close second. One without the other does not make complete sense. To increase your chances of getting a bank job, you ought to have as many soft skills as possible. However, these skills should pertain to the role you are applying for.
Learn vital banking software
The banking sector revolves around technology and using sophisticated software to solve problems is the standard. Although banks usually train their employees on banking software proficiency, it pays for you to have known them. This gives the employers an impression that you are enthusiastic about the job. Also, they wouldn’t need to spend as much money on training you further.
Develop an interest in the banking sector
If you want to excel at what you do, make sure you do what you love. It takes motivation, ambition, and passion for banking to get ahead of every other banking job candidate. These qualities come from a genuine interest in the banking industry. The interest you develop in this profession will make you go the extra mile to land a banking job.
Do your homework on your preferred banks
Before you go for an interview, do some research on the bank. Learn about their company policy and other information that is unique to them. This will help you in answering certain tricky questions about them.
When you gain intelligence on the bank you are applying to, you should use the information in your conversation. For example, if asked who your mentors are, you could add a founding member of the bank to the list.
Skills needed to get a banking job
If you wanted to acquire all the skills a banking job demands before getting the job, you would remain jobless. The skills for this job are endless. Yet, the following skillsets are a must-have:
Digital intelligence
In virtually every industry, not having adequate skills involving the use of technology is a problem. Technology is the spine of the 21st-century business – you must have apt digital intelligence to work in a bank. Banks automate most of their tools, especially those related to financial records and databases.
Therefore, you have to be skilled at using basic to advanced software packages on a device. Also, you ought to know your way around roughly all types of computers without having many problems.
Performing under pressure
As rewarding as a bank job is, it is a profession that comes with a relatively high degree of pressure. Bankers deal with varying amounts of pressure depending on their deadlines and the complexity of the task at hand.
Since bankers manage customers’ money, if there was ever a problem with a customer’s money, they would answer for it.
For these reasons, you must possess the ability to manage pressure flawlessly. Being calm and collected will help you make the best and most rational decisions.
Mathematical skills
A banking job involves endless sets of calculations and working with figures. Thus, if math is your weak spot, perhaps a bank job is not for you. However, if you are keen to get a banking job, you should improve your math skills. As a banker, you are expected to be good with numbers as it is crucial to your performance.
Analytical skills
A banking job is ideal for thinkers and those who are analysis experts. Working in a bank involves a series of challenging responsibilities that you must perform. A solid analytical skill set is needed to solve problems that could arise at any instant.
There are always threats to both corporate funds and individual funds to thwart. Likewise, there are opportunities to grasp for both customers and the bank. The most favorable decisions are the hardest to make. Yet, it is your job to solve these problems with your analytical skill.
Commercial intelligence
Commercial awareness is a must-have skill for everyone in banking and finance. This job revolves around making, managing, and looking for more opportunities to earn money. The ability to spot market trends with the potential to be sustainable for now and the future is essential and admirable.
Also, having a clear understanding of different business operations and how to tap into them is key. These financial intelligence skills will take you places and ultimately make you the most wanted banker in the industry.
Attention to detail
Handling money for a living is a serious responsibility, even for professionals. Attention to detail is a key skill that could save both you and your customers a lot of trouble. In the banking business, the details of every customer must be completely accurate otherwise there could be a disastrous error. Being attentive will help you to avoid costly mistakes and propel you to greater heights in the profession.
Respectable social intelligence
Bankers are always interacting with people, especially customers. This means that they would deal with all kinds of people with different moods daily. This is why you need to have a decent level of social intelligence. Not everyone can light up a room, but you need to know your way around people in this job.
Types of banking jobs that you can get
In the banking industry, there are many roles you can apply for that suits your qualifications and skillsets. These are some of the most prevalent banking job roles:
- Accountant
- Bank manager
- Bank teller
- Mortgage consultant
- Loan processor
- Investment banker
- Financial advisor
- Customer relationship manager
- Internal auditor
How much you would earn if you got a banking job
The salary structure for bankers depends on their experience, skillset, and the type of banking they practice.
Bankers in the United States earn a salary of between $32,000 and $130,000 on average. In the UK, getting a banking job would see you earn between GBP30,000 and NGN150,000 per annum.
Nigerian banks pay a monthly salary of between NGN110,000 and NGN600,000 mostly. Whereas in the UAE, a banker makes an average monthly salary of AED23,000.
Conclusion
A banking job is understandably one of the most acclaimed dream jobs of many young people. This is why getting a bank job is not a walk in the park. However, you can boost your chances of working in a bank by following some useful steps highlighted above.
The skills you acquire and the qualifications you have will set you up for the role that suits you best. By now, you already have enough reasons to pursue this career. Go for it!
Did you have any particular experience when you were trying to get a banking job? Please share it with us in the comments section below.