One of the options that young graduates with an aptitude towards finance and accounting is to pursue a Banking Finance career. There are a number of banking finance positions that can be explored. Generally, a banking finance position involves the issuing of financing or credit to an applicant after thorough scrutiny and analysis of their creditworthiness. The position may also involve finding new prospective clients.
Pursuing a Career in Banking Finance
If you can work in an organized manner, have great analytical, interpersonal and quantitative skills and are able to work under pressure and deadlines, then you can become a successful banking finance professional. Your job would not only involve the processing of the financing applications, but would also involve the reviewing and monitoring of the account, to follow up with the borrowers for recovery and customer relations.
Banking Finance Career: Qualification, Courses, Training
The basic qualification for a Banking Finance professional would be a Bachelors degree in Finance or Accounting or a related discipline, preferably with majors in Banking and Finance. A candidate with a postgraduate degree or Finance or Accounting certification would obviously have better chances for being selected. Relevant job experience would also be a key factor as some banking corporations are not comfortable with an idea of assigning the responsibilities of the job to an entry level professional. However, that does not mean that the position is exclusively for experienced bankers.
Banking Finance Career: Schools, Colleges, Universities
In order to launch a successful Banking Finance career, you could consider acquiring a qualification from some of the top schools in America, some of which are listed below.
- Sloan School of Management, MIT, Cambridge, MA
- Harvard University, Harvard Business School, Boston, MA
- University of California-Berkley, Berkley, CA
- Stanford University, Graduate School of Business, Palo Alto, CA
- Pennsylvania State University, Smeal College of Business, University Park, PA
- University of Pennsylvania, The Wharton School, Philadelphia, PA
- University of Chicago, Booth School of Business, Chicago, IL
Banking Finance Career: Job Opportunities, Salaries and Recruitment
Wage and salary Banking Finance positions are expected to grow by 8% for the period 2008-2018, according to the Bureau of Labor Statistics. However, that is lower as compared to the employment growth in all industries. Non-supervisor banking positions have a weekly earning average of $605 for non-supervisory positions. Median hourly wage for General and Operations Managers is $42.98, that for Finance Managers is $37.15 and wage for Loan Officers is $25.72.