In order to get a job at banks, candidates must have prior experience, though certain positions provide first-hand experience, especially for applicants who want to get into the field. While experience isn’t needed, an education in the finance subject is required.
There are a variety of jobs banks are able to offer since there are numerous jobs to fill based on the type of job that a person is employed in. These are the top 10 basic jobs in the banking area to see their costs per year and hour of work.
What is the main banking sector?
It is one the industries that is constantly changing. It is possible to identify at least three different sections in which this industry is split. On the other side, there’s commercial bank, which are targeted towards businesses.
There is also the retail bank, that is devoted to customers who are the sole clients of every bank. However it is called investment banking. It refers the corporate financial sector, all connected to the metrics and variables that are handled by a bank.
These three sections enable institutions to supply their customers with a variety of financial services, including credit and debit cards as well as loans, savings and ATMs, checking accounts and more.
What are the available jobs in the major banks?
There is a wide range of positions and jobs which are needed within a bank there are a variety of industries with various specializations, generally there is a requirement for qualified employees who have previous experiences and studies in finance, and abilities that enable them to complete their jobs effectively.
However there are less ideal jobs for people lacking experience and who want to join the banking industry and for which a university degree is not necessary or even required, but it is recommended to study in a field that is closely relevant to the position.
Some of the most important bank jobs are the following:
1. Bank taller
The most frequently requested banking jobs is that of the Bank Teller, who is responsible for having direct contact with clients and performing various procedures within the institutions like check cashing, money transfer and receiving payments and cash deposits, to name a few.
To be considered for this job candidates must possess excellent communication skills , a predisposition towards the client, excellent customer service and lots of patience, as well as being able to handle and respond quickly and resolution capabilities in the event of emergency unforeseeable situations.
The workshop at the bank must be aware of all the services that the bank has to offer including card, loans and payment methods such as interest and the details a customer may need regarding his financial position.
- Annual salary: $32,043.
- The average hourly wage for a worker is $15.41.
2. Banker
A banker will be the individual who is employed by the financial institution and is responsible for collecting the clientele (both physically and legally) to offer them options and offers that they can access easily.
The clearest illustration is the loan as bankers are responsible for providing these loans using an interest rate. With this, the bank is able to make profits and money from the credit lines that are given to customers.
In essence the simplest terms, the banker is the person who is responsible for aiding and assisting the customer through various financial procedures and assisting them with all questions regarding financial matters.
The ability to analyze financial data, a understanding of technology, as well as rapid problem solving are usually needed. Because it is an area that requires specialized skills, those who wish to apply for these jobs need to have completed an education in business, finance accounting, economics, or finance.
- Average Annual Salary: $42,455.
- The average hourly wage is $20.41.
3. The loan processor
The loan processor evaluates the financial condition of the company by conducting risk analysis and presents solutions to any unexpected issues. They are charged with reviewing the client’s information to determine whether or not they will grant the loan based on their credit score as well as their monthly income and other aspects.
The job requires the completion of a bachelor’s degree in business administration, finance or accounting. You must also have prior experience in lending, insurance and other financial services.
- Average annual income of $50,045.
- The average hourly wage is $18.79.
4. Consultant in mortgage
The mortgage advisors are responsible for everything that is associated with a particular company. They rarely deal with multiple businesses at once.
Their main task is the analysis and search on the history of credit of an firm or person to ensure that depending on their mortgage requirements they can come to an agreement regarding the kind of mortgage the customer is able to manage to.
Additionally, they serve as advisers on loans and the organizations that provide loans, which allows the borrower to select the lender that best fits their needs based on the rates of interest and repayments for the loan.
For this job HR managers typically require that applicants have completed high school and have worked working in this field. However, applicants with university degrees in finance, real estate economics, economics, and many other fields will stand greater chances of being hired.
- Average annual salary $62,258.
- The average hourly wage is $26.73.
5. Investment Representative
The investment representative is committed to offering clients financial advice on the types of investments they could make, the amount of money they have available for these investments as well as the potential consequences. Additionally, they are able to offer products and services by their employers.
In general, a bachelor’s level degree in economics, business administration or finance is needed to be able to fill this job. The requirement of a license from FINRA (Financial Industry Regulatory Authority) can be a benefit when vying for the position.
- Average annual income: $58,905.
- The average hourly wage is $29.45.
6. Credit analyst
The credit analyst’s job is to analyzing the credit history of people or businesses who want to apply for an loan. A study of the application will be based on the scores and the credit history, as well as other factors.
The financial institutions that require the services of a credit analyst typically require applicants to hold academic degrees in fields like statistics, economics and finance, economics and know-how in various areas of the analysis of ratios and financial statements.
- Average annual salary: $64,163.
- Average hourly earnings: $24.87.
FAQs
What other job opportunities at banks with a major presence can you locate?
Alongside the previously mentioned jobs, there are other openings open at large Banks include, for instance Underwriting Assistant, Accountant Investment Banker Chief Financial Officer Branch Manager or Internal Auditor.
Are major banks a viable job?
The financial industry is a fantastic career option as there are numerous positions that are required. Furthermore, this profession provides stability in the workplace and allow you to continue growing by enhancing your skills and testing them.
Do I have the chance to get an employment at the bank without having to pass an examination?
No. It is mandatory to pass an examination with questions that are related to the job and the knowledge of the subject to be employed in the finance sector. This test is designed to assess the abilities and knowledge of the applicant and determine how competent for the position.