Industry: Commercial Banking
Commercial banking is a constantly changing, merging, and improving field in which banking employees find themselves forced to adapt to the transformations. The banking industry is constantly undergoing changes that may take away jobs or add completely new positions. Technology and the consolidation of banks are removing the necessity of many banking positions and changing the way banks run in general. The banking industry relies on the public investing their money in the bank, and in turn, the bank uses that money to give loans to their clients. The banking industry has transformed from simple monetary transactions to highly technical equations which now involve credit, loans, and real estate. With the rise of credit cards, Internet purchases, ATM availability, online transactions, and loan accessibility, bankers are now facing more challenges in the workforce than ever before. With the increase in online banking and transactions, security has become a top priority since many individuals have been experiencing identity theft, unapproved online transfers, and stolen credit information. Even though banks are constantly undergoing change, their employees can feel a sense of security in their job requirements.
Banking employees find structure in the daily tasks of negotiating loans, processing data, and selling new banking options to current and potential clients. One of the steadiest positions in banking is in sales, selling the new and up coming features banks will be offering. Surprisingly a position in banking requires a fair amount of interpersonal skills; not only must banking employees be able to account for details and crunch numbers, they must be able to relate to their clients in order to make them feel comfortable entrusting their money to the bank. Many clients may feel the most comfortable with the big name banks such as Bank of America, Citigroup, or JPMorgan Chase & Co because they feel there is the most stability in these banks, but smaller banks offer the one on one assistance that many first time home buyers need in order to feel comfortable with their investment. However, when it comes to money, clients usually focus on the safety of their hard earned cash.
Whether you feel more comfortable working with numbers or working with people, commercial banking has an opportunity for you. Positions in commercial banking range from programming, financial analysis, loan and trust managers, to tellers and sales positions. Positions in the commercial banking industry range from $18,000 to $150,000. Although the banking industry has experienced a tremendous amount of change, the conservative nature of the industry has remained in tact. However, the strict 9-5 working schedule has transformed into an extraneous amount of working hours required by those looking to get ahead in the competitive field. The experience you gain working in any commercial banking company is highly valued and can be transferred to most other companies.
Commercial banking is changing with the times and looking for individuals who can balance the number crunching aspect of the job with the client relationship building side while staying abreast new banking trends and opportunities. Commercial banking employees need to be flexible and able to handle change, all while feeling confident in their daily routines.
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