By financen | March 20, 2018 - 6:25 pm - Posted in Banking, Career

Finance careers offer stability and enviable monetary compensation, as well as significant flexibility when it comes to moving ahead in banking or pivoting to take a leadership role in other sectors. There’s a wide range of roles available, and banking offers more opportunity than most to work your way up, rewarding those with initiative, hard work, and strong critical thinking and problem-solving skills. Here are five common careers in banking and finance to consider:

Investment banker

This is what many people think of when it comes to a career in the finance sector. The banking industry is broad, but the Wall Street stereotype tends to stick in most people’s minds, thanks to glamorous Hollywood depictions of hard-working graduates and fabulously wealthy leaders. Investment banking can be a challenging, yet rewarding career choice, and strides have been made to make it a more accessible and welcoming career for a wider variety of candidates. Investment banking hubs in New York, London, and other global-class cities makes it an exciting choice for those who love the big-city lifestyle, and it offers a strong opportunity for those who want to work their way up into management and leadership positions. This is a fast-paced, relatively demanding job and is a good choice for those who are ambitious and have a lot of drive, as well as a desire to keep learning. Experienced investment bankers are also well positioned to move away from the finance sector and take positions of leadership in other large companies.

Financial planning

Financial planning involves helping people identify and understand their goals, and then to come up with intelligent saving and investment plans to reach them. This is a good choice if you enjoy interacting with others, have good communication skills and attention to detail, and a strong affinity for research and problem solving. While some education and familiarity with professional conduct, finance, and reporting is helpful, it is possible to take the initiative and work your way up the ranks without a lot of formal training.

Bank teller

Bank teller jobs are an accessible form of entry level banking work that involves specialized service and sales roles. While attention to detail, consistency, and a pleasant, professional manner are required, formal education is usually not necessary for your first teller position. Banks usually offer a well-defined internal training and growth track, and will provide ongoing education and promotion opportunities if you want to move toward a supervisory or management role. A bank teller role could be a good choice if you want a job with less pressure that is still rewarding, or if you want to gain familiarity and experience in finance and earn some money for further education.

Banking paralegal

Banking paralegals are specialists that work in the legal departments of finance organizations. They perform research and reporting duties and have a specialist education. This is a great type of position for those who are very detail oriented and enjoy research. Those interested in learning more about how to become a paralegal will want to identify the sector they want to support as a paralegal and then sign up for a specific program like an associates degree that will teach them how to become a paralegal and qualify them to work in the field. This is not a learn-on-the-job type of role; formal education is generally required, since legal skills and specialist research skills are needed.

Accountant

Various types of accountants and bookkeepers are employed in the banking industry. These are also specialized roles that require some formal education. Specific processes must be followed, and professional accountants and bookkeepers must have a shared understanding of fundamental accounting processes, as well as laws, regulations, and common practices specific to the sector they serve. A corporate accountant might need to understand regulations and tax law for multiple states or even different countries, while a bookkeeper for a small business or local clients only would require less training and experience. Depending on your goals, you might start small with some basic coursework, or get a full finance degree and get a job in banking or finance with a higher starting salary and more responsibility. These roles involve a lot of flexibility and opportunity. You might freelance part-time as a bookkeeper, or work as part of a team in a large company, with opportunities to gain more experience, continue your education, and move towards a position with more responsibility.

The banking industry offers a wide range of opportunities with good financial prospects. You can start small with some basic training and work your way up or go all out and put your ambition to work climbing the ranks.

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This entry was posted on Tuesday, March 20th, 2018 at 6:25 pm and is filed under Banking, Career. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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