Banking And Finance Careers

We all use math daily. While many of us just use the basics to keep track of how much money we gave and the change we should get, those who want to purse banking and finance careers do more than that to keep their clients happy.

People who work in banking and finance are paid well for the work that they do. Four of the fields that many professionals get into include accountancy and tax, Insurance, investment banking and retail banking. Let’s talk about each of these.

For people to work in accountancy and tax, you need to graduate and get your CPA or certified public accountancy license. To learn more about what you will be doing, many have to complete an on the job training with a legitimate accountancy firm.

The training period is about three years and afterwards, you can continue on staying with them, working for another firm or going into private practice.

Insurers just like accountants need to be licensed. This varies from state to state so you have to study and then pass the exam. Once you do so, your career may get you to sell property or casually insurance and life or health insurance.

You should also take further classes in the future because although you have your license already, rules change and you have to be aware of them.

Perhaps the biggest challenge selling insurance is deciding whether to work for an insurance company or doing this on your own. There are advantages and disadvantages doing both. When you are employed, you get a basic salary while those who decide to work for themselves can only make money earning commissions when a sale is made. How well you do is entirely up to you.

Investment banking is different from regular banking because you are there to raise capital for a company by issuing shares or bonds. Later on, you may even work with a team that advises companies regarding mergers and acquisitions.

Also under investment banking is capital markets. Here, the professional is tasked with trading bonds stocks and other financial products to increase the portfolio of the client.

But before you get into that, most entry levels personnel start out doing research first about certain companies and who are their competitors. Their information is then passed on to the account managers who will then advice the client.

Lastly is retail banking which many of us are aware of because these are the people we meet in the bank from the teller to the bank manager when we need to deposit or withdraw cash and apply for a loan.

Unlike accountancy or insurance, you don’t need to get a license to do this kind of work. You just have to be customer oriented with strong interpersonal and communication skills since you will be dealing with people.

Careers in Banking and Finance

A number of banks and financial institutions entered the Indian market in recent years. This sector now requires a lot of technical and administrative staff to further expand their operations. Plenty of jobs are available and the institutions are outdoing the packages they offer in a bid to woo the best candidates to their firm. The banking sector requires people with every kind of skill. They need people who can sell, people who have operational, managerial and IT skills.

Retail banking
A retail banker sells banking products, such as deposits, accounts, mutual funds, loans etc. You should have excellent interpersonal skills, a presentable personality, good communications skills and patience to make a mark in this field. A degree in any discipline is enough for a job as a marketing executive at the entry-level and middle level positions.

Private banking
Private banking is also known as wealth management. It caters to individuals, funds or corporate houses that can invest at least one crore rupees. MBAs with a smart personality and excellent marketing skills can enter this sector.

Corporate banking
Corporate banking caters to the banking needs of corporate houses. This involves taking charge of the trade (import and export) related aspects, funding needs etc. Good marketing skills along with people management skills are a must. An MBA or a background in chartered accountancy is the basic requirement to enter this filed.

Micro finance
Micro-banking is all about micro-credit, micro-savings and micro-insurance. Clients are usually farmers and those employed in the rural areas. This sector has witnessed rapid growth in recent years with many banks in India launching their own microfinance divisions. You must have a drive for social work and an MBA, preferably in finance.

Investment banking
Investment banking offers the most coveted jobs in banking. Candidates from top tier management institutions or a chartered accountancy background can enter this sector. Investment banking offers excellent monetary benefits. On the flip side, you have to work long hours. The job of an investment banker is to raise funds for corporations and organizations through IPOs or mergers.

Banking and Finance Attorney

The Arizona banking and finance attorney career center will help you with state and federal laws pertaining to the regulation of banks and financial institutions, including establishment of the institutions, day-to-day operations, and banking, both electronic and international.

However, before you approach the Arizona banking and finance attorney career center, you must understand the jobs of banking attorneys, how to select a good lawyer, and many other things. Banking attorneys deal with the state and federal statutory laws pertaining to the regulation of banks and financial institutions. Even if you are not facing litigation or a regulatory enforcement proceeding, retaining a banking and finance attorney to assure compliance with all state and federal banking laws, rules and regulations governing the operations of your institution will certainly help you avoid legal hassles later.

If you have a banking or finance problem and you do not already have a list of prospective lawyers, one of the greatest places to start your prudent search is the Arizona banking and finance attorney career center. You can do a free search to come up with a list of lawyers. Moreover, once you have a list of lawyers, you want to find out every thing you can about them and then do some initial screening to whittle down your list to three or four prospective candidates. You need to locate the best resource to get extensive yet authentic information on the various factors associated with the Arizona banking and finance attorney career center. This would help you to select the right Arizona banking and finance attorney career center.

Best Careers in Banking and Finance

Banking involves a number of areas, specializations and a wide range of roles. Careers in banking and finance can be a very exciting option but given the vast and varied industry that it is, arriving at a career path and making a choice to follow it, can sometimes be daunting. In addition, the vast number of designations and specializations in each area differ from bank to bank and sometimes there might also be overlaps in certain areas. However it is a given that the number of career opportunities within banking and finance are numerous. For example, some careers might involve client interaction, some might be operational in nature, and some would involve trading and derivatives and so on and so forth.

Large investment banks are usually divided into two main areas: corporate finance or investment banking and sales & marketing with trading. Careers in banking and finance in an investment bank usually involves capital raising, debt and equity, mergers and acquisitions, services involving financial advisories and in some areas activities concerning merchant banking. Within the sales and trading division an employee might be engaged in analysis and research, distribution and brokerage of trading securities amongst other such activities. It is important to know the difference between the numerous functionalities within an investment bank during your quest for the right career path in banking and finance.

If you are a young graduate who has just passed out from a management school or college, you might want to enroll in a specific training program or banking internship that will provide you the valuable opportunity of gaining an understanding of what a financial institution is all about and kinds of opportunities available. These specific programs in different banking departments maybe of varying nature; some programs may offer a cyclical structure in various areas while others might have a specific emphasis on a particular specialization. An internship that offers a cyclical structure can give you the chance of experiencing the various opportunities available in a particular department within the bank. Prior to entering into an internship program or graduate plan, remember to look into the duration of the program. At the end of the day, irrespective of the kind of program you enrol in, a good internship will give you valuable knowledge about the basics of banking or finance before you even start on your career path. In addition to the technical and soft skills needed to succeed in careers in banking and finance, a good training program will also offer you an inside knowledge about the institution’s vision and strategy and a broad introduction of what the company stands for.

Careers in banking and finance are usually well paying, but if you are starting out your career as an intern do not look at the salary, rather look at the reputation of the banking or financial institution you are going to be a part of and the valuable knowledge that you will gain for your future.

Monster one of the leading online career and recruitment resources, works for everyone by connecting job seekers across industry verticals, experience levels and geographies instantly with leading employers. Now a day’s various kinds of Careers in banking and finance are available today. Monster offers to candidates from around the world the kind of training received on the latest jobs. Update your resume on Monster and search for suitable jobs.

Banking and Finance Jobs

Understanding Banking and Finance Careers

Careers in banking are both lucrative and rewarding, but at the same time are varied and diverse. Before choosing a career in finance, one should take a step back and consider which type of position would suit the individual. For example, should one apply for a career in retail banking or try for a more lucrative position within a multinational corporate bank? The final decision is an important one. Therefore, we hope this brief yet informative guide will help you find your way.

Retail Banking

Retail banking represents the branch networks of High Street banks. The entry-level career in this type of banking is the counter teller whose job it is to deliver service with a smile to visiting members of the public. Duties mostly involve routine deposits and withdrawals of funds from personal and business bank accounts, but can include basic advice on various financial products. The qualifications required for this type of position are at least a secondary education and some form of customer service and cash handling experience. Other retail banking positions include personal managers and business managers, usually promoted from the counter staff, whose job it is to open new bank accounts, issue loans and offer advice about financial products including insurance and mortgages. Lastly, we have the bank manager who oversees the branch and its activities. Retail banking jobs do not require university qualifications and so thus are a perfect career choice for less academic individuals.

Investment Banking

Investment banking covers far more specialized financial services, looking after the needs of commercial, industrial and governmental clients. Careers in this field include investment bankers, stockbrokers and financial analysts. Duties consist of the setting up and management of corporate loans, the handling of company acquisitions and mergers and the day to day trading of stocks and shares. To qualify for an investment banking career, one has to boast excellent written and verbal interpersonal skills and have a good academic track record, i.e. A levels, with at least one degree in any subject. Graduate training courses and internships are available, but are in short supply, meaning competition for places is tight. A wise move for those wishing fast-track to high-end finance jobs would be to study for a degree in a related field, such as accountancy, economics or financial planning, and use such a qualification to move into a relevant finance banking career.