Banking and finance is a huge sector, encompassing many niches and job specialisms, ranging from customer service to investment banking, so whether you’re looking for a temporary job or long term career, there are numerous banking jobs out there.
And while jobs in the traditional banking industry have been somewhat stagnant of recent years, with some banks reducing staff numbers and closing branches, right now, fintech is taking the banking world by storm with new digital banks opening up, along with a wide range of online and app-based financial service providers. So there’s great potential out there if you’re looking to begin a career in banking.
A multi-faceted sector with plenty of opportunities
Given such a wide sector, if you’re considering a career in the banking industry, it’s a good idea to do your research to see which area would suit you best. The banking industry can be broken down into three main areas: investment banking, commercial banking, and financial services. Of course, in all of these, there are many other sub-categories of work including accounting, economics and IT, as well as a vast number of customer services roles, ranging from bank teller to financial advisor.
Got what it takes for a career in banking?
Of course, the skills you need will vary hugely from role to role. Depending on the type of work, for most banking jobs, you’ll need to be good with numbers, possess solid IT skills and be able to communicate at all levels, both written and oral. You’re likely to be working as part of a larger team and collaborating with other departments, so it’s essential you’re a good team-worker.
As you’d expect, there is a huge range of courses and qualifications out there looking to get into banking. Probably the most generic of these would be a business and finance degree, but again, it depends on what area you’re looking to work in. A specialised degree would be more suitable for those looking to work in accounting, economics, law, or even IT. Most of the big banks operate graduate programmes.
Of course, you don’t need a degree to work in banking. Many school leavers start out in basic banking jobs such as customer service or as an office clerk and work their way up. Good A-level grades should secure be enough to secure a good entry-level role in a bank.
Work your way up
Banking apprenticeships are another way into the banking industry for those looking to receive on the job training while studying and earning. The five leading banks all offer apprenticeship opportunities. Within these, you can work in a variety of areas including compliance, group finance, audit, global markets, IT and management, to name a few. These can lead to a huge range of job niches, including growing areas such as cybersecurity and data analysis.
Wherever you work, you’ll discover that banking is a profession that offers a huge variety of opportunity, early responsibility, and rapid career progression, along with very competitive salaries and good benefits. For those willing to work hard and continue training throughout their career, the rewards can be great!
For a sample of some of the many opportunities available in banking, start with a job search on Zoek.
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