Careers in banking refer to all the jobs in banks – sounds simple enough. But within that, there are a lot of unfamiliar job titles you might not have come across before in a variety of different kinds of banks.
Here is an introduction to some of the areas you could go into:
Retail Banking: This is probably the most visible form of banking as it deals directly with the consumer in branch rather than businesses. Even within the retail sector there are multiple areas open to you, from counter services to financial advisors. The common element here is that your role will usually be customer facing.
Investment Banking: investment banks generally work on behalf of governments, corporations, and other institutions to provide services such as Mergers and Acquisition support and Underwriting.
Mergers & Acquisitions (M&A): the bank provides support to companies that want to expand by combining with other companies. This support can be financial or in the form of other services and expertise.
Underwriting: if a company requires investment to grow it has the option to ‘go public’ which means shares in the company will be sold on the stock market. During the Initial Public Offering (IPO) the investment bank agrees to sell either all or a selection of the stocks at the agreed price to the investors.
Investment Management: investment managers generally fall into two categories, relationship management which is a client-facing role involving meeting with clients and discussing their requirements and fund management who are responsible for making the investments themselves.
What are employers looking for?
Most employers will be looking for people who have completed STEM or business degrees to a high level. They may also require you to supply your A level and even GCSE results, but don’t be scared off! They are trying to get a complete picture of you as a person to help find the right person for the job.
Key Skills: Problem solving, numeracy, teamwork, organisation/time management
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