A career in banking can incorporate just about anything these days, with a wealth of diversity in employers and roles. As well as variety, the banking industry notoriously boasts some of the highest paid positions in the world, but what’s the trade off? There’s plenty of bad press, controversy and horror stories from this sector, but we’re here to give you the low-down in black and white so that you can make up your own mind whether or not this fast-paced and challenging industry is for you!
Banking is a global industry that works across many different time zones with financial markets staying active 24 hours a day. The City of London is renowned as being one of the largest and most successful finance centres of the world; one of the reasons for this is that its working hours link with those of the US and Asian markets, which are currently the two other most prominent financial capitals. Over the past few years regional banking offices within the UK have become more of a focus, with career opportunities increasing to compete with the huge amount available in London. Many employees are now choosing these offices over their London equivalents, helping the regions and local industries grow.
There is a wealth of opportunities available in banking; if you’re looking for early responsibilities within a fast-paced atmosphere, this is the career for you. Trader, Analyst, Risk Manager, Compliance Officer or Client Advisor; there are a variety of roles available at graduate and school leaver level, each offering challenges that can set you up for a rewarding future career. Roles within banking are well known for allowing rapid career progression as well as opportunities to work around the world.
Individuals pursuing a banking career need to be motivated, determined and highly adaptable. Banking roles often involve working long hours and the work can be demanding, but employees are typically rewarded generously for their hard work. Gaining an internship or work experience early on can help you on your way to a banking career, but be warned – the application process for work experience opportunities can be as rigorous as applying for graduate jobs. There’s good news too though – according to High Fliers’ The Graduate Market in 2016, the leading City investment banks have the most intern and work placements available this year with over 2,600 paid opportunities!
Candidates are no longer expected to hold a numerical degree; many organisations look for diversity amongst applicants, favouring qualities such as strong communication skills that studying a language degree, for example, can bring.
It’s no secret that the banking industry is one of the most lucrative sectors in the world. High starting salaries often come with a range of amazing benefits; many banks compete for the best candidates by offering sign on bonuses, season ticket loans, gym memberships and of course, the ever famous performance based bonuses.