Jobs and Careers Summer 2021 - 205

BANKING
I
s it true that money makes
the word go round? Well,
after the year that we've all
had, you'll probably agree that
yes, finance and commerce
has a lot to do with keeping
things spinning. However, numbers
of those employed in the UK's finance
sector have fallen over the past few
years, mainly due to the closure of bank
branches as more and more people
bank online. But, on a positive note, the
financial services sector has been more
resilient to the economic impacts of the
coronavirus pandemic compared with
other sectors of the economy, partly
because staff can easily work from home.
In 2020, there were 1.1 million financial
services jobs in the UK, accounting for
3.2% of all jobs. Those entering the
finance sector will be expected to work
hard and under pressure, but the rewards
are good, from decent starting salaries
to whopping, six-figure salaries. There's
plenty of variety too, so there's a great
chance you'll find a job that suits you.
BANK CASHIER
As the first point of contact for most
people coming into a bank, a cashier
needs to have a good, friendly demeanour.
The role is very customer-focused, as
well as sales-focused - part of the job is
to promote products to customers and
help sell them. You'll also be required
to perform day-to-day transactions such
as cashing cheques, making money
transfers and updating account details.
What qualifications do I need? Four
GCSEs at grade 9 to 4 (A* to C), including
English and maths. Further training to
gain NVQs can be done on the job.
How much can I earn? A typical
starting salary is around £14,000,
rising to £27,000 with experience.
BANK MANAGER
A key management role for those in
banking, this involves the running of
one or more branches, motivating staff
of A-level education is required. Otherwise
you could apply for a graduate scheme
- you'll need a degree for this, usually
in business, accounting or commerce.
How much can I earn? Starting
salaries are around £25,000, but this
can rise to around £70,000 at the
highest levels. You will also be part
of the bank's bonus schemes.
CORPORATE
INVESTMENT BANKER
This role involves advising companies,
institutions and governments on how
to achieve their financial goals and
implement long- and short-term financial
" The financial services sector has been
more resilient to the economic impacts
of the coronavirus pandemic compared
with other sectors of the economy "
and making sure that sales targets are
met. As the figurehead for the branch,
the manager is required to help resolve
complaints, meet with customers,
monitor sales, report back to head office
and promote the branch and products.
What qualifications do I need? You could
start in a customer service role at the bank
and work your way up, adding management
qualifications along the way. A minimum
Promoting equality in banking
The industry is making moves to promote diversity and inclusion
Banking has traditionally been a very
male environment, and an industry
that has mainly seen middle-class,
white men on the board and in the
top ranks. In the UK, women make
up only 28% of boards of directors of
banks. But this is slowly changing.
For a few years now, the banking
industry (along with most other
industries) has developed diversity and
inclusivity policies to help ensure that
people of different genders, race and
social background have a fair chance
of being employed and to progress
- and to help everyone fit in and feel
comfortable in their workplace, and
to have their voices heard. In some
organisations, recruitment is " blind " ,
so all personal identifying data is
removed from CVs before being shared
with hiring managers to help the team
evaluate applicants on the basis of their
skills, competencies and experience.
Many banks have created subcommittees
to discuss diversity and
inclusivity, together with support
networks to focus on race, disability,
religion, parents, new recruits and
mental health. It's a slow burner,
but things seem to be heading
in the right direction to make the
workplace a better place to be.
plans. You could also manage corporate,
strategic and financial opportunities,
including mergers, acquisitions, bonds
and shares, lending and privatisations.
Advising on and leading management
buyouts, raising capital and securing new
deals could also be part of your role.
What qualifications do I need? Banks
usually ask for at least a 2:1 degree and
often specify a minimum number of
UCAS points. New trainees must complete
Financial Conduct Authority (FCA)
exams. Some employers may also require
further professional qualifications.
How much can I earn? The average
starting salary is between £30,000 and
£40,000. After three or more years, salaries
can reach £50,000. Those with experience
can earn a base salary of £150,000 or
more. Bonuses can sometimes be four
times the base salary or even higher.
Find out more
* Financial Conduct Authority
fca.org.uk
* The London Institute of Banking
& Finance libf.ac.uk
* Top Financial Jobs
topfinancialjobs.co.uk
* UK Finance
ukfinance.org.uk
jobsandcareersmag.com /// JOBS & CAREERS /// 205
http://fca.org.uk http://libf.ac.uk http://topfinancialjobs.co.uk http://ukfinance.org.uk http://www.jobsandcareersmag.com
Jobs and Careers Summer 2021

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