Is Major Banks a Good Career Path?
– Is Major Banks a Good Career Path? –
Learn what a banking career is, why you should pursue one, the primary types of jobs in the banking industry and steps to start a career in banking.
Banking careers refer to any job within the banking industry and are open to almost anyone who is interested in working in this field.
If you are considering a banking career, it is critical that you understand the benefits and drawbacks of banking careers as well as the various types of banking career paths available.
In this article, we will look at what a banking career is, why you should pursue one, the different types of jobs in the banking industry, and how to get started.
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Why Major Banks is a Good Career Path
There are several advantages to pursuing a career in banking, the most notable of which are:
Generous Compensation
Everyone has certain expectations from their jobs, some people would give anything for great work-life balance, some prefer the opportunity to learn while some just like to travel.
But at the end of the day, the one thing that is common about all jobs is that you have to be making some money while doing it.
When it comes to compensation, banking has earned a well-deserved reputation for paying better than most other corporate jobs.
Analysts with 0-3 years of experience make anything from USD 80,000 to USD 200,000. This depends on factors like the division they are working for, the size of the bank and location.
If you have an MBA, you can increase those numbers by around 50% for just your starting salary.
Valuable Business Skills
You learn something at every job. Banking is not so different in that respect.
You learn about your job, you learn how to sell, you learn about the various products and services and how they work.
But that is where the similarities between banking and almost all other jobs end.
Because in banking you not only have to learn about your own industry but about the client’s as well. You have a client in the telecom sector that you want to lend a billion dollars to?
You better learn every single thing there is to learn about the client, their competitors, the threats to their industry, their growth prospects and so on.
And with a billion dollars of the bank’s money on the line, you better make sure you know more than anyone else on the planet (and that sometimes includes the client as well).
Valuable Business Skills
You learn something at every job. Banking is not so different in that respect.
You learn about your job, you learn how to sell, you learn about the various products and services and how they work.
But that is where the similarities between banking and almost all other jobs end.
Because in banking you not only have to learn about your own industry but about the client’s as well.
You have a client in the telecom sector that you want to lend a billion dollars to? You better learn every single thing there is to learn about the client, their competitors, the threats to their industry, their growth prospects and so on.
And with a billion dollars of the bank’s money on the line, you better make sure you know more than anyone else on the planet (and that sometimes includes the client as well).
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Tech-enabled Future
Cryptocurrencies are frequently regarded as a threat to the traditional world of finance. But, in reality, they will not.
Because banks are now embracing blockchain technology and developing solutions with large budgets and expertise from tech firms.
Then there’s Artificial Intelligence, which represents the next epoch in terms of how business will be conducted.
Banks are once again among the largest investors in AI and machine learning.
Career opportunities in banking and finance are better than ever for those willing to embrace new ideas and technologies.
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CSN Team.