WANT to bank on a lucrative new career? Then make a move into the exciting world of banking.
With an average salary of $76,850 compared to the national average of $46,310, it’s a well-paid sector with plenty of perks and prospects.
On top of this, with over 900,000 job openings each year, banking provides lots of opportunity to climb the career ladder and build a secure future.
Ready to be in the money? Then check out our Sun Jobs guide to making it big in banking.
What kind of jobs are there in banking?
The sector is split into two key areas – commercial banks which offer checking accounts, savings accounts, mortgages and other financial products to the public, and investment banks which make money by selling securities like stocks and bonds.
Commercial banks offer public-facing roles such as bank tellers, home loan specialists and relationship managers, while investment banks employ specialist such as investment managers and traders.
Both have jobs for ‘back office’ staff including IT, fraud and risk management plus HR.
What salary can I make in banking?
This will vary widely according to which role you are employed in.
Bank tellers make an average of $35,117 while a commercial bank manager can pocket between $150,000 and $200,000.
Mortgage specialists can command between $60,000 to $200,000. In investment banking, base salaries for traders are around $175,000 to $250,000 usually with a bonus on top.
What qualifications will I need to work in banking?
As you are dealing with other people’s money, banking is highly regulated and demands a highly qualified workforce.
For some teller jobs, you may only need to have completed high school, but many more senior jobs will ask candidates to have a bachelor’s degree in a related areas such as finance, accounting, economics and business.
Courses in mathematics, information technology, corporate law and international business are also highly sought-after.
If you are interested in commercial banking, it helps to earn a Certified Retail Banking Professional qualification from the American Association for Investment and Financial Management. Find out more at aaifm.org.
For investment banking, you may need to pass set exams such as the Series 79 exam and the Securities Industry Essential exam. You can read more at finra.org/registration-exams-ce/qualification-exams.
How can I get into banking?
The best route is to take an internship. All major banks offer them so check their website for details on how to apply.
It also helps to join professional networking organizations and attend in-person and online events.
For teller and customer service jobs in commercial and retail banks, it’s possible to join from other industries if you have customer service experience and work your way up.
Counting yourself into a banking role? Here are the top picks from Sun Jobs.
Commercial Associate – Global Commercial Bank, Technology Group, Bank of America, New York
Your research will help your clients build a better future in this brilliant Bank of America job.
The Job: Bank of America is hiring a Commercial Associate in New York.
What You’ll Do: You will be responsible for delivering analytical research and developing innovative strategies to support client/prospects’ needs.
You will leverage data to discover valuable insights such as economic updates, market forecasts, new business reports, and industry valuations, to inform important business decisions.
You’ll Need: A Bachelor’s Degree and between three and seven years of relevant work experience are required.
Structure Finance Back Office Servicing Analyst – H/F/X, Société Générale, Jersey City
It might be back office but there’s it’s not back seat – this is a vital role for Société Générale.
The Job: Société Générale in Jersey City has an opportunity for a Structure Finance Back Office Serving Analyst.
What You’ll Do: In this role, you will review, verify and authorize daily loan transactions; perform analysis and reconciliation of fee and interest accruals, and prepare and review loan forms before obtaining loan officer approval signatures.
You’ll Need: You will be proficient in Loan IQ, with an excellent knowledge of loan products, principles of cash payments in USD and foreign currencies, and a strong working knowledge of Excel.
Five years’ prior experience along with a Bachelor’s degree in accounting, finance, or a related discipline are necessary.
BSA Fraud Analyst, First National Bank of America, Lansing
Help keep American’s money safe in this frontline fraud-busting role
The Job: First National Bank of America has an opening for an organized and efficient BSA Fraud Analyst.
What You’ll Do: You will be responsible for various reviews and monitoring, to ensure the bank’s compliance efforts are maintained daily.
You’ll Need: One year of general banking or regulatory agency experience with an emphasis on compliance or operations, as well as working knowledge of Jack Henry Core Banking Software and Verafin Fraud Monitoring required.