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

The dynamic, quick-paced world of money, shares, credit and investments is explored in Banking and Finance. The financial sector is crucial to our economy because it offers the assets or cash liquidity that people and corporations need to make future investments.


Banking and finance have 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 bankers and financial managers come in.


Banking and finance explore 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 in 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


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

3. International travel and working abroad


In this sector, you could find yourself working in the financial center 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 favorably 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 sectors.

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

The bulk of Banking Finance salaries presently ranges between $38,500 (25th percentile) and $96,000 (75th percentile), with top earners (90th percentile) making $121,000 yearly across the United States, while ZipRecruiter has annual wages as high as $141,500 and as low as $26,000.


On the other hand, 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, the actual maximum salary is higher).


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

FAQs

Is banking and Finance are same?

The financial services sector includes investments, insurance, risk redistribution, and other financial operations, whereas the banking industry focuses mostly on direct saving and lending.

What are the 3 types of finance?

Personal finance, corporate finance, and public (government) finance are the three primary subcategories within the field of finance. Financial services are used by both consumers and corporations to obtain financial goods and accomplish financial objectives.

Is banking a good career?

When it comes to careers and employment opportunities, India’s banking industry is undoubtedly one of the most popular. Due to the high salaries and job stability offered by public and private sector banks, millions of recent graduates throughout the nation seek employment there.

Is finance a good career?

An exciting, fulfilling, and typically quite lucrative job in finance is available. It draws young people who are extremely ambitious but also have an aptitude for economics and accounting as well as the capacity to understand and process complicated financial concepts and data with speed and intuition. Money management is at the heart of finance.

1 Shares:
Leave a Reply

Your email address will not be published.

You May Also Like