Getting Started on a Career in Banking and Finance

Today, you just have to start your computer to find out how much your balance is in your checking account, apply for a loan or pay your bills. You can sell your stocks over the Internet or exchange foreign currency without leaving your home. Does this appear to be science fiction? Check with your local bank, chances are they offer most of these services. The way in which banks and financial companies conduct their business is changing with new technology added regularly. If you are interested in a career in the banking and finance industry, you would be surprised by the types of jobs offered today. All jobs in the sector do not require higher education, with many employers choosing to train their own candidates for positions like financial advisor, branch manager or even bank teller.

You can start with an entry level job and work your way up the ladder. You don't need advanced education if you want to work as bank teller or as an account representative. For these positions, banks are only searching for outgoing and friendly individuals with at least high school education. They should, however, not have felony convictions or bankruptcy. Some banks also require some experience with cash handling, such as retail experience with cash registers.

Brokerage firms or banks also have requirements for the post of Financial Advisor. Although most of them come with college degrees, they are only required to be educated over high school diploma. Financial advisors have to first take a FINRA exam, for which they need to be sponsored. Financial advisors usually work on a commission basis, just like mortgage officers.



If you want to work in the management of a bank, the most common route is to work your way up. You will have to start as a teller and become an operations manager later. The next step may be branch manager and even upper levels of management. It has been observed, however, that most of the Branch Mangers have completed college education whereas executive management is formed by best branch managers as well as corporate executives with respected business degrees from major universities.

A college degree is not required for mortgage officers, though most of the people who hold this position still do have one. Mortgage officers have the responsibility of soliciting and closing mortgage deals for new prospects and existing bank customers. Typically, mortgage officers work on a commission basis. Mortgage officers are required to have good interpersonal skills, and must be extremely detail oriented while working with paperwork.

People in the banking and finance earn various rates based on their skill level and job responsibilities. A loan interview will earn approximately $14.50 per hour. Customer service representatives earn approximately $13.50 per hour and new account clerks are paid approximately $11.50 per hour. Bank tellers earn approximately $10.60 per hour. Lower level positions pay lower and higher level positions will pay much more.