Banking and Finance: Why is it the most preferred career choice? (+ detailed guide)

Why is the banking and finance field still among the most popular amongst the brightest graduates today? What jobs are in the banking and finance sector? What are the benefits of studying banking and finance?

In this article, we will answer all the questions concerning banking and finance and also explain the importance of choosing a career in banking and finance.

Most importantly, we have listed hot job openings at the end of this blog post.

Do you have a degree in banking and finance? Then, consider sending your applications when you come across the hot job offers at the end of this post.

What is banking and finance?

Banking and finance

Banking and finance has to do with more and more money!

The world revolves around money – we talk about it, we spend it, we earn it, we lose it and we touch it every day.

The world won’t be able to function without having money in it.

That is why most of the important jobs in the world are in the banking and finance sector.

Careers in this sector can be extremely exciting, rewarding and satisfying.

Many organizations, corporations, and individuals need help in managing their finances and this is where the bankers and financial managers come in.

Banking and finance explores the constantly changing world of money, shares, credit and investments.

Finance is an important part of our economy as it provides liquidity in terms of money or assets required for organizations, businesses and individuals to invest for the future.

See also: Financial assets: All you need to leverage effectively (+ best tips)

Importance of banking and finance

Some of the importance of choosing a career in this field is:

1.Endless career options

A career in the field provides you with the foundation for a broad range of careers across banking, broking, consulting, funds management, and insurance.

You will be able to work with corporate, in financial markets or with the government.

This discipline alone can take you anywhere you want to be in the world.

It provides you with professional training and development opportunities.

Studying and working with established banks gives you the opportunity to benefit from structured training and development which have stood the test of time.

2. Salary and benefit

Banking and finance sector gives you the opportunity to enjoy a robust salary offer, as well as other incentives like private health care, insurance, subsidised travel, food and gym membership.

3. International travel and working abroad

In this sector, you could find yourself working in the financial centre of another continent.

If you’re lucky enough, you can get to do your initial graduate training in any of the foreign cities.

4. It offers long term career plans

Having a well regarded financial institution on your CV is looked upon favourably by employers.

If you have previously worked in a reputable organization, then future employers will want you in their organization.

Every organization needs a financial manager, so you can as well work anywhere in the world.

Benefits of studying banking and finance

You might have asked what jobs are in banking and finance?

Well, the field is limitless.

Let us take a look at some of the benefits of studying banking and finance.

First, studying banking and finance provides you with the basic knowledge on the foundation for a broad range of careers across different fields like banking, broking, consulting, funds management, and insurance.

Secondly, studying finance can also prepare you for tasks in your everyday life.

The world won’t be able to work without money.

So, a good knowledge of finance helps you become financially literate and will help you make better personal financial decisions.

Thirdly, you can work literally anywhere with a degree in banking and finance.

Every day, there are more and more opportunities in companies’ every day.

See also: Financial risk: Definition, Types, Management, Overview, Analysis (+ free pdfs)

What jobs are in banking and finance?

Banking and finance is a thriving sector.

There are a thousand and one opportunities available to those who have a degree in the field.

Some of them include:

1.Financial analyst

A financial analyst works for businesses to help them or their clients make investment decisions.

However, analysts must have a bachelor’s degree, often in business administration, accounting, statistics or finance.

2. Financial accountants

Financial accountants are responsible for budgeting, managing tax payments and performing internal audits.

A financial accountant should possess a degree in accounting and must have relevant work experience.

3. Business Analysts

A business analyst is in charge of helping businesses implement technology solutions in a cost-effective way by determining the requirements of a project or program, and communicating them clearly to stakeholders, facilitators and partners.

4. Loan officers

Loan officers evaluate, authorize, or recommend approval of loan applications for people and businesses.

5. Teller

According to Wikipedia, a bank teller is an employee of a bank who deals directly with customers.

In some places e is called a cashier or customer representative.

Banking and finance job salary

According to Salary Explorer, a person working in banking in Nigeria earns around 368,000 NGN per month.

Salaries range from 116,000 (lowest average) to 756, 000 NGN (highest average, actual maximum salary is higher).

That is the average monthly salary including housing, transport, and other benefits.

Banking and finance jobs in Nigeria

Below are some of the hot job openings in Nigeria:

1.Transaction Officer needed at Fosad Consulting in Lagos

2. Chief Financial Officer needed at Babban Gona in Lagos.

3. Finance and Admin Officer – Countdown Project needed at Sightsavers Nigeria in Kaduna State.

4. Finance / Accounting Officer needed at the Bank of Industry (BoI) in Lagos

5. Officer, Finance needed at Bridge International Academics needed at Oworonshoki

6. Bank Teller Jobs in Nigeria

7. Credit Officer needed at Corpreneur in Ibadan, Nigeria.

8. Finance Intern needed at Transport Services Limited (TSL) in Lagos, Nigeria.

9. Agency Banking Officer needed at Pecan Trust Microfinance Bank Limited in Lekki, Lagos.

10. Bank Cashier needed at Evergreen in Abeokuta South, Abeokuta.

Click here to see more job openings available in Nigeria in the banking and finance sector.

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