Banking Jobs


In the wake of the 2008 financial crisis, the financial industry was one of the areas hardest hit by the period of recession. Major banks were thrown into a shaky period as they sought to recoup the losses from the collapse of the housing market. While this may have dissuaded graduates from entering the field previously, a gradual recovery has led to a resurgence in the financial services sector and a greater interest in understanding the particulars of pursuing banking jobs. The field is one of great variety, as banks serve an almost endless variety of both firms and individuals in their daily interactions. However, for a young worker eager to enter the industry, it will be helpful to review the characteristics of basic financial positions.

Though romanticized in popular culture, there is a real aspect of both the high-stress and high-reward culture of working in finance. Most who enter the world of banking will begin as an analyst at a large firm. Depending on the specifics of the bank, an analyst could be focused on a wide variety of different services. A position in this sector requires both a tireless work ethic and a sharp set of quantitative skills. Analysts at a major bank will be expected to perform both administrative tasks and basic financial modeling while working their way up the corporate ladder. Young workers excited to enter this field are wise to be mindful of the incredibly long hours–and the significant salary–that financial analysts will encounter in their early career.

After beginning work at a major investment firm, financial professionals may also move into the world of private equity. Analysts in the world of private equity will begin to work in the world of mergers and acquisitions (M&A), preparing for the massive business deals that occur in the area of banking and finance. The compensation is still considerable for working in this sector, and many are excited by the high-pressure work that analysts cover. Notably, workers in private equity will have a chance to make contacts at the very banks they may later intend to work for. While high stake, it is still a captivating option for those interested in the worlds of financial services and banking.

These are only two of the many options available for young professionals who are intent on entering the world of banking after their undergraduate experience. To continue on in this field, many workers will eventually return to graduate school to acquire an MBA. This advanced degree will open up the banking analyst to becoming an associate, and thus the chance to work more directly with clients. Because of the ability of the banking industry to restructure in the wake of the financial crisis, this is still a viable career choice for those who are interested in this high-risk, high-reward world of business. If anything, new entrants will be especially wary of the many risks that banking entails, with a focus on maximizing the rewards that are possible through a regimen of wise investing.


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