25 answers
Dimitar
Student
Montreal, Quebec, Canada
1
Question
Asked
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What are your thoughts on working in the banking industry?
I am an economics student looking to connect with professionals in domaind such as banking, business and finance #business #finance #money-management
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25 answers
Frederick Agerter III
MyBanker, VP Relationship Manager
4
Answers
Canastota, New York
Updated
Frederick’s Answer
I have 25 years of banking experience. One thing I have learned in my banking life is there are two ways to approach your career. You can start from the lower levels and work your way up, or you can try to enter at the management level. My experience, even though I had a college degree and considered myself very smart and talented was to start at the lower level and work my way up. I think when you do this you gain the respect of your peers because it shows you know all aspects of banking and can empathize with all levels as you are promoted. It's also nice to learn a lot of different roles as banking has so many levels. Also banking is about being involved in the community so I would recommend doing a lot of volunteer work and joining some local boards of things you are interested in. When you get out and network you create referral sources for yourself. A lot of people chose a bank because of a person they know that works there, not necessary because of the name on the building.
Kevin Cronin
Commercial Credit Analyst
20
Answers
Ewing Township, New Jersey
Updated
Kevin’s Answer
I have worked in banking most of my career as a Commercial Credit Analyst. Commercial Credit Analyst analyze the businesses my bank lends money to (or is considering) lending money to make sure they can pay the loan back.
I think the most important question you can ask is …. What is it that you really want to do??
I would suggest you take some aptitude test that should help you determine your core interest and likes.
This may enable you to determine what really interest you and what your career path should be
You will have to work a lot of days and a lot of hours at whatever you choose, so make sure it is what is meaningful to you.
it is the advice I would give myself if I could go back to when I first started
I think the most important question you can ask is …. What is it that you really want to do??
I would suggest you take some aptitude test that should help you determine your core interest and likes.
This may enable you to determine what really interest you and what your career path should be
You will have to work a lot of days and a lot of hours at whatever you choose, so make sure it is what is meaningful to you.
it is the advice I would give myself if I could go back to when I first started
Marie Meserve-Lucier
VP Business Banking
2
Answers
Enfield, Connecticut
Updated
Marie’s Answer
Many Aspects to Banking. Ask yourself if you are interested in dealing with the public? The retail side gives you that option. Also in Commercial lending you will help customers meet their financial needs. If you prefer working internally there are many behind the scene jobs such as credit. Many options!!
Jamie Pitney
IT Business Operations
3
Answers
Hubbardston, Massachusetts
Updated
Jamie’s Answer
I transitioned from the Finance/Investment Services industry (i.e. companies like TIAA and Fidelity Investments) back in 2010 to banking and have never looked back. Banking and Banks offer a wide variety of jobs that require many different skill sets. Some could be math and economics to help determine the market landscape for the Bank and customers. Others could be computer programming or other IT skills that help ensure the Bank's technology runs smooth. It really does offer something to just about everyone.
Michelle C
Ex banker
6
Answers
Singapore
Updated
Michelle’s Answer
It’s a broad industry, there are several aspects of the banking business, you could find operations, compliance, transactional banking or other divisions interesting and that’s just a few besides the investment, corporate banking you may have heard of.
It’s interesting, it’s a broad industry and finding what you enjoy is important.
It’s interesting, it’s a broad industry and finding what you enjoy is important.
Walt Sharpton
Financial Consultant in Tech
14
Answers
Nashville, Tennessee
Updated
Walt’s Answer
I started my career out in the banking industry and, although I discovered that it wasn't the industry where I wanted to spend my entire career, it was an amazing place to start. I worked in commercial banking (i.e., debt-based funding for mid-market and smaller companies that need financial support to cover operational costs) as a credit analyst/underwriter. This role gave me a chance to hone quantitative capabilities from college (research and analytical skills) as well as develop new qualitative/soft skills (client relationship management).
Over the three years that I was in this role, I was rarely bored and rarely overworked. I am now 15 years into my career and I still cite the experience that I gained in commercial banking when interviewing for new roles. It's a great fit for anyone who likes financial analysis, research, and engaging with clients.
Over the three years that I was in this role, I was rarely bored and rarely overworked. I am now 15 years into my career and I still cite the experience that I gained in commercial banking when interviewing for new roles. It's a great fit for anyone who likes financial analysis, research, and engaging with clients.
Denise Lynch
Retail Loan Servicing Generalist
4
Answers
Pittsfield, Massachusetts
Updated
Denise’s Answer
There are so many different positions and opportunities in the banking business to choose from. You should take a look into what is out there and available in your area.
I will share this with you , I previously worked for a retail company for 20 years and I made the decision to change my career pattern and work in the banking industry and I am so glad that I did. Going from retail to banking is so different in so many ways but I have always been willing to learn and a fast learner at that and the company I am with trained me and here I am learning new and exciting things everyday.
Everyone has their own opinion and nobody can make decisions for you. If banking is something you are interested in I say you should go for it ,if you are afraid of change don't be . I made the biggest change of my career after 20 years and so thankful I did, and yes I know its not always the same for everyone but you won't know unless you try.
Hope this helps and best of luck to you!
I will share this with you , I previously worked for a retail company for 20 years and I made the decision to change my career pattern and work in the banking industry and I am so glad that I did. Going from retail to banking is so different in so many ways but I have always been willing to learn and a fast learner at that and the company I am with trained me and here I am learning new and exciting things everyday.
Everyone has their own opinion and nobody can make decisions for you. If banking is something you are interested in I say you should go for it ,if you are afraid of change don't be . I made the biggest change of my career after 20 years and so thankful I did, and yes I know its not always the same for everyone but you won't know unless you try.
Hope this helps and best of luck to you!
Mary Christine Floth
Relationship Management
3
Answers
Denver, Colorado
Updated
Mary Christine’s Answer
I have worked in the financial services industry for many years but have never worked at a bank. My role today is relationship management for a technology company that provides on line banking and other services for banks. In all of the roles I've had, I have learned and continue to learn about the banking industry. Banking provides a number of opportunities from entry level on up: teller, loan officer, retail banking, digital, risk, compliance, operations and more. If banking is of interest, remember, it's not limited to a bank per se. As with banks, many companies that provide services to banks offer internships as well. Good luck.
Chelsea Gucwa
Universal Financial Service Represenative
1
Answer
Brooklyn, Connecticut
Updated
Chelsea’s Answer
For being fairly new ( 1 yr) to the banking industry i absolutely love it . I went from child care for the last 10 years to banking and it was a great change. Banking has many different avenues you can get into depending on your interests. This has to be the best career change i have ever had.
Nicole Lyons
Business
2
Answers
Greensboro, North Carolina
Updated
Nicole’s Answer
A great place to start is on LinkedIn. Try your college career center because they have a lot connections and resources. Don’t be afraid to visit businesses of interest; check community events and nonprofit organizations; networking for social and business. Volunteering opens a lot of doors and will look on your resume and portfolio.
Keep an open mind. Set goals, standard and dream big, then bigger!! However big your dreams are know that with God all things are possible.
Keep an open mind. Set goals, standard and dream big, then bigger!! However big your dreams are know that with God all things are possible.
Jim Campagna
Commercial Loan Servicing & QC
4
Answers
Pittsfield, Massachusetts
Updated
Jim’s Answer
The best thing about the Banking Industry is the vast difference of the job types available. Our Bank for instance, offers careers ranging from what you would expect from a bank, IE teller, loan officer, etc. To careers in public service via our foundation, IT and Information/Physical security. You could design the next great logo as part of the marketing team or manage our social media platforms. Banking also offers upward mobility and the chance for a change of scenery if you work in a Bank large enough that it has offices in multiple states/locations. Also, as we have found with the Covid-19 crisis, a multitude of Banking Jobs can be done remotely from home our a group workspace.
Jan Popovic
Operations Manager
1
Answer
Geneva, Switzerland
Updated
Jan’s Answer
Take my advice with a grain of salt as I've not directly worked in banking myself but I find it a fascinating industry enabling all aspects of the economy in one way or another. One can surely learn a ton by getting the exposure. You can probably also expect a comparatively more rigor, attention to detail, risk and compliance in banking than in other industries. Speaking for technology, because of the much needed compliance requirements traditional banking tends to have longer development cycles and provide less opportunity to innovate and thus may be less fun than other domains, although the so called FinTech startups are gradually changing that paradigm.
Alex Boucher
Commercial Credit Analyst
2
Answers
Westfield, Massachusetts
Updated
Alex’s Answer
I have been in the banking industry for two years as a commercial credit analyst and was an economics major similar to you. I really enjoy it as it challenges me intellectually, it's always something new and it has a great work-life balance. The age demographic for banking tends to be older so if it's a career you are interested in there should be demand for it. Also, banking has a wide range of jobs so you need to hone in on what you really enjoy doing.
Kevin Cronin
Commercial Credit Analyst
20
Answers
Ewing Township, New Jersey
Updated
Kevin’s Answer
I have worked in banking most of my career as a Commercial Credit Analyst. Commercial Credit Analyst analyze the businesses my bank lends money to (or is considering) lending money to make sure they can pay the loan back.
I think the most important question you can ask is …. What is it that you really want to do??
I would suggest you take some aptitude test that should help you determine your core interest and likes.
This may enable you to determine what really interest you and what your career path should be
You will have to work a lot of days and a lot of hours at whatever you choose, so make sure it is what is meaningful to you.
it is the advice I would give myself if I could go back to when I first starter.
I think the most important question you can ask is …. What is it that you really want to do??
I would suggest you take some aptitude test that should help you determine your core interest and likes.
This may enable you to determine what really interest you and what your career path should be
You will have to work a lot of days and a lot of hours at whatever you choose, so make sure it is what is meaningful to you.
it is the advice I would give myself if I could go back to when I first starter.
Richard A.
physician
2150
Answers
Updated
Richard’s Answer
Pros:
High impact work where effort will be rewarded
Financial compensation
Optionality! Can pivot to a variety of corporate careers
Cons:
Long hours
Perhaps not fully intellectually stimulating
High impact work where effort will be rewarded
Financial compensation
Optionality! Can pivot to a variety of corporate careers
Cons:
Long hours
Perhaps not fully intellectually stimulating
Nuette N
Commercial Real Estate Underwriting
3
Answers
California, California
Updated
Nuette’s Answer
It's a very diverse industry with many opportunities to move within the company once you have your foot in the door. Within banking, there is retail banking, business banking, accounting, finance, compliance, CRA, lending (business/commercial real estate/origination/credit), asset management, portfolio management, etc. From my own personal experience, commercial banking is the most interesting. Experienced candidates are always in demand and compensation packages are generous and commensurate of the experience. Work tends to be fast paced and hours can be long, however as an experienced candidate, opportunities will become available for alternative work schedules and working remote.
Many commercial banks and financial industries offer a paid internship program. Applying and getting accepted into one is the best start
Nuette recommends the following next steps:
Marianne Stowell
Commercial Lender
7
Answers
Bolton, Connecticut
Updated
Marianne’s Answer
I've worked in banking for almost 30 years and you can have a very diverse experience within banking. There are many opportunities to gain very valuable experience that is transferable to different industries. Some of the larger banks still offer credit training programs that after college graduation they will provide training to learn the skills to underwrite credit requests. These are valuable skill that are sought after. With that you over time become a lender or portfolio manager if its of interest. If you are more interested with the personal side of banking there are many opportunities to work in wealth management or private banking or even an investment analyst. Banks also have internal audit departments where they audit different departments of bank. This is a great way to learn about all of the areas within a bank. Banking is much more than a branch, but the branches also provide wonderful opportunities for people as well.
Waleed El-Jack
Full-time Student
12
Answers
Boston, Massachusetts
Updated
Waleed’s Answer
From my experiences in going through the recruiting process for banking roles, the industry is extremely cut-throat and hierarchal. Interns are at the bottom of the totem pole and compete with one another to gain minimal respect from VP's. Moreover, the industry is also very formal, old-fashioned, and conservative. For example, men are required most of the time to be clean shaven and not have long hair. Most employees at banks work strenuous hours (especially in investment banking).
Advantages of working in banking:
- High pay: ($60-$100k starting salary)
-exit opportunities (consulting, private equity, venture capital, corporate & start-up finance, etc.)
-resume builder: banks (especially the bulge bracket ones) are often the biggest and most well-know companies
Advantages of working in banking:
- High pay: ($60-$100k starting salary)
-exit opportunities (consulting, private equity, venture capital, corporate & start-up finance, etc.)
-resume builder: banks (especially the bulge bracket ones) are often the biggest and most well-know companies
Brett Dalzell
Electronic Banking CSR
21
Answers
Pittsfield, Massachusetts
Updated
Brett’s Answer
Hello,
I am relatively new (2 years now) in the banking industry. I have to say I enjoy it very much. It is not what I went to school for. I originally went to school for environmental science. After realizing the type of opportunities that the field provided did not necessarily match what I needed to do for my family I applied for a customer service job at the bank. I found right away that the institution I work for values employees, their families and the community as a whole, even outside the bank. I have gained a lot of knowledge with support along the way. Working for the bank I have many opportunities to grow within the bank. That is what I valued. Support and growth while earning enough to support a lifestyle outside of work. As others have stated there are a lot of different specialties within the bank that allow someone with most any skillset to be able to excel in their job. I would recommend looking into the positions banks in your area have to offer and seeing what suits your goals in the financial field and working toward that. However as I said I started in customer service and learned a lot there and was able to move up to electronic banking relatively quickly given the fact I had no prior experience. Good luck to you!
I am relatively new (2 years now) in the banking industry. I have to say I enjoy it very much. It is not what I went to school for. I originally went to school for environmental science. After realizing the type of opportunities that the field provided did not necessarily match what I needed to do for my family I applied for a customer service job at the bank. I found right away that the institution I work for values employees, their families and the community as a whole, even outside the bank. I have gained a lot of knowledge with support along the way. Working for the bank I have many opportunities to grow within the bank. That is what I valued. Support and growth while earning enough to support a lifestyle outside of work. As others have stated there are a lot of different specialties within the bank that allow someone with most any skillset to be able to excel in their job. I would recommend looking into the positions banks in your area have to offer and seeing what suits your goals in the financial field and working toward that. However as I said I started in customer service and learned a lot there and was able to move up to electronic banking relatively quickly given the fact I had no prior experience. Good luck to you!
Tina Sharma
Financial Analysis
20
Answers
Bengaluru, Karnataka, India
Updated
Tina’s Answer
I have an experience in retail banking for three years during the initial years of my career and I must say that being in banking does provide you lot of knowledge in the ares of accounts and finance as well. There are so many areas/departments that you can be as per to you interest like Business banking, operations, credit , treasury, forex, retail, and loans, corporate etc. Gaining knowledge in these areas would also open you other fields in finance in other industries as well. Like I am in IT industry now as a financial analyst. However it completely depends on your aptitude .
Crystal Carr
Construction Loan Administration
4
Answers
Albany, New York
Updated
Crystal’s Answer
As I've seen others say there are internships at a lot of banks or finance companies for students to be able to come in over their summer vacation. This is time that you would be able to see what the industry as a whole has to offer. I know at our bank we have several internship opportunities available. If you do go down that road I would suggest to talk to as many people as possible in as many departments as possible to see how things are done. Most of the internships will revolve around one segment of banking but, the more people you can talk to the more you can find out. There have been many interns at my institution that have been hired right after they finished their internship. I for one work at a Bank but, I do Construction Loan Administration so, I watch the projects as they are being constructed and am sure that the bank is protected during and that the project can be built on time and on budget. That is not something that I thought would be a normal banking job but, there are many different avenues to go down you just need to find the one you like the most. I would suggest you talk to your counselor about what internship opportunities they may know about.
Thulasinathan P
Manager Customer Delivery
7
Answers
Bengaluru, Karnataka, India
Updated
Thulasinathan’s Answer
Banking industry is a part of the Finance Domain and within Banking you may have lots of options to make a career. If you are going to be on field to drive new business let me tell you there is a lot of competition. The reason is there are very few differentiations when it comes to positioning offers from most of the banks. Being in the backend you can work on the customer and market data and develop excellent skills such as data analysis, statistics etc. to grow into a Financial analyst.
Yousssef Bahaji
Account Manager
2
Answers
Washington, Washington
Updated
Yousssef’s Answer
It is a very large industry with many many options available to you. Ask yourself what are you good at first. This will help narrow down the path and give a clearer vision on what to pursue.
Also, do you want to be customer facing or working in the back end. Do you want to be in the IT side of banking or the client management side of it or other areas?
It is a very fast pace industry (because you are dealing with money), tied to quotas and other metrics evaluating your performance. - More/Less depending on the role you end up getting.
Ask yourself what are you good at?
Customer Facing or Back End?
How do you feel about having quarterly goals/quotas and other metrics?
Also, do you want to be customer facing or working in the back end. Do you want to be in the IT side of banking or the client management side of it or other areas?
It is a very fast pace industry (because you are dealing with money), tied to quotas and other metrics evaluating your performance. - More/Less depending on the role you end up getting.
Yousssef recommends the following next steps:
Sylvia Dario
Divisional Business Analyst
2
Answers
Pittsfield, Massachusetts
Updated
Sylvia’s Answer
I've been working in the banking industry for 13 years and I started as a part time teller. I enjoyed learning and working in every position within the retail side of banking and then decided to move to a back office position as a divisional business analyst. I personally love working in the banking industry because of the variety of jobs/positions available within a company. I found that starting at the bottom and working my way up truly helped my career overall because I was able to apply the knowledge from working in retail directly to analyst position and have a better understanding than most would just coming in as an analyst. I didn't think I would end up staying in the banking industry this long, but I've had lots of opportunities available to me as I continue to increase my knowledge and experience.
Sethu Madhavan
Senior Business Architect
4
Answers
Ashburn, Virginia
Updated
Sethu’s Answer
I have worked mostly in Banking & Financial Services industry throughout my career. The banking sector is wide and has plethora of opportunities to learn, contribute and could be fulfilling. There are different categories / types of banks and differ in scope:
* Retail / Investment
* Consumer / Business / Commercial
* Community / Regional / National / International
Banks offer a wide variety of products and are innovating to keep up with the emerging trends and customer digital preferences. A person can spend an entire lifetime / career navigating through different aspects of banking. Banks have been around for centuries, so there are plenty of resources to learn about the inner working for the industry and also the history including case studies, crisis and transformation initiatives.
* Retail / Investment
* Consumer / Business / Commercial
* Community / Regional / National / International
Banks offer a wide variety of products and are innovating to keep up with the emerging trends and customer digital preferences. A person can spend an entire lifetime / career navigating through different aspects of banking. Banks have been around for centuries, so there are plenty of resources to learn about the inner working for the industry and also the history including case studies, crisis and transformation initiatives.