Careers in Banking
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If you are planning to start a career in banking, you should have no trouble getting satisfactory employment. Banks and financial institutions play a vital role in the modern society, helping individuals, businesses, and organizations manage their finances more wisely and providing financing for those who are in need of money. As more and more financial transactions are being conducted nowadays, banks and financial institutions are becoming busier, and many of them need to hire more banking professionals to help them manage their increasing workloads. Other than working in banks and financial institutions, banking professionals can also gain employment with loan companies, credit unions, insurance companies, and investment companies. Here are some of the career options that are available to banking majors:
Bank Officer
Bank officers do not only handle financial transactions in a bank; they may also be required to process loans, supervise bank employees, or oversee the operation of a branch. In order to perform their duties well, they need to have a good understanding of their banks’ objectives, as well as the programs and policies that govern different kinds of banking activities. The minimum academic requirement for bank officers is a Bachelor’s degree in banking, finance, or economics, but some banks are willing to accept individuals who have an Associate’s degree in accounting. The salaries of bank officers vary from $40,000 to $150,000 a year, depending on their positions.
Loan Officer
Loan officers are responsible for finding people who are interested in getting loans and helping them apply for the loans. They also have to evaluate the abilities of individuals and businesses to repay their loans and provide advice for borrowers who have trouble securing traditional loans. Some of the places that provide employment for loan officers include banks, financial institutions, loan companies, and credit unions. The minimum educational requirement for loan officers is usually a high school diploma, but commercial loan officer positions may require a Bachelor’s degree in finance or economics. In 2008, the median average salary for loan officers was $54,700.
Financial Analyst
Financial analysts study investment options and provide advice for investors. They can work for banks, mutual fund companies, securities firms, or insurance companies. Most financial analysts have at least a Bachelor’s degree in finance, business, accounting, or statistics, but those who wish to advance quickly in their careers will pursue a Master’s degree in business administration. The average earnings of financial analysts are $84,780 a year.
Corporate Treasurer
Corporate treasurers manage financial products to enhance business development. Their duties include managing their companies’ inflow and outflow of cash and capital, making investments, managing risks, and establishing and analyzing financial management policies. The academic requirement for corporate treasurer positions is at least a Bachelor’s degree in finance, business management, economics, or audit. The annual salaries of corporate treasurers vary greatly, from $37,340 to $139,278. Other career options that banking majors can pursue include branch manager, benefits officer, cash manager, commercial banker, commercial credit analyst, financial controller, cost estimator, credit analyst, financial planner, financial consultant, investor relations officer, management consultant, mortgage banker, and trust officer.
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Author Resource:-
Browse AccountingSchoolsU.com to find top accounting schools which are offering accounting degrees in banking programs. Choose the best banking classes and programs for you in the preferred location and start your path to a rewarding career.
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By :
The Sider Group
Submitted
2012-02-08 10:30:14 |
Article From Article Mayhem
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