17 Best-paying Jobs In Commercial Banking Industry | Good Career Path
17 Best-paying Jobs In Commercial Banking Industry | Is Commercial Banks A Good Career Path? Commercial banking jobs require complete confidentiality and trustworthiness. You’re dealing with very sensitive information on a daily basis and often handling large sums of money. Kamerpower.com
One great thing about deciding to pursue a job in commercial banking is that there is job security. The banking industry is the engine that keeps an economy moving, and commercial banks are a key part of that engine. Therefore, if you are interested in a financially rewarding career path, you should consider working in commercial banking.
Is commercial banking a good career path?
Yes, it is. A commercial bank is a specialized form of banking that caters to the financial needs of commercial clients such as firms, corporations, and other types of institutions. Commercial banks play a very significant role in a country’s economy by providing loans for consumption and investment.
What are The Best-Paying Jobs In Commercial Banking?
- Administrative Assistant
- Security Guard.
- Bank Teller.
- Assistant Manager
- Loan Officer
- Customer Service Representative.
- Loan Assistant Jobs.
- Underwriting Assistant Jobs.
- Mortgage Banker.
- Receptionist Jobs
- Personal Banker.
Top Best Paying Jobs In Commercial Banking
Commercial banking jobs offer a lot of different possibilities and paths. There are entry-level positions that don’t require additional experience or education, and there are top-tier corporate jobs that require years of experience and education.
1. Customer Service Representative
A customer service representative needs to quickly become very familiar with their commercial banking institution’s offerings, both products, and services. It is their job to guide customers toward financial options that will benefit both customers and the bank. They might also do tasks such as processing payments, refunds, managing exchanges, etc. Average Annual Salary is $30,000.
2. Notary Public
Some very large banks have people who serve as the notary public. This job requires someone who is certified by the government to be a witness to the execution of legal documents. Smaller banks will roll this responsibility into many different positions within their walls. Average Annual Salary is $61,000.
3. Assistant Manager
An assistant manager is going to need to have a degree, and usually, they come to the position with some management experience. Since you’re helping the manager, this is considered an entry-level position, and it can be a great stepping stone to furthering your career in finance and management. Average Annual Salary is $44,000.
4. Security Guard
There are a lot of valuables in most banks. It’s not just about cash, but security deposit boxes can be filled with important documents, jewels, heirlooms, and more. Security guards are a key part of most banks, whether they’re visible to the public or behind the scenes monitoring surveillance equipment. Average Annual Salary is $30,000.
5. Receptionist
Most receptionists in commercial banks have a high school diploma, but it’s not necessary to have any additional education. Your job is to welcome guests into the bank and determine who they need to see. Average Annual Salary is $29,000.
6. Administrative Assistant
Some administrative assistants do have advanced degrees, but they’re not always required. These individuals help management or executives handle day-to-day tasks, prepare reports, manage appointments, maintain office supplies, and other duties that keep the entire bank or their department running smoothly. Average Annual Salary is $36,000.
7. Bank Teller
Average Annual Salary is $31,000. A bank teller is another one of the few positions you might be able to get in a commercial bank with just a high school diploma. You’ll be trusted with confidential information and handling money on a regular basis. You’re also expected to be friendly and well-informed since you’ll be dealing with customers regularly.
8. Personal Banker
A personal banker is a financial professional who typically has a bachelor’s degree and is just starting out. They can help existing and new customers looking to set up basic checking and savings accounts, money markets, retirement accounts, and other financial vehicles. Average Annual Salary is $31,000.
9. Underwriting Assistant
Underwriters process loan applications. Their primary job is to make sure the individual or business applying for the loan has the sufficient means to make payments and that they have a history of being good with their payments – i.e., a good credit record. Average Annual Salary is $36,000.
10. Executive
Reaching the executive position of a bank is a dream for many people, and this requires a combination of knowledge, hard work, and time. As a result, one must be thorough with the strategy, handling clients, and top talent.
11. Loan Assistant
A loan assistant’s job is to support the loan officer and do many of the same tasks that the officer does. Most of your work will involve paperwork, research, and staying abreast of laws in the loan business. Average Annual Salary is $37,000.
12. Quality Assurance Specialist
This role ensures that the daily operations of the bank conform to specific quality standards. Additional responsibilities include assessing the various factors that contribute to the success of a project or the organization.
13. Branch Manager
A branch manager or a general manager oversees the operations of a particular branch of the bank. The responsibilities include: Hiring and training new staff, Setting and tracking sales goals. Working closely with higher management to improve performance of the branch.
14. Credit Analyst
Here due diligence is done on a person’s financial statements, annual reports, or credit scores. This is to determine an individual’s creditworthiness before the approval of business or personal loans.
Certification Requirements For A Career In A Commercial Bank
Most commercial banking jobs require at least a bachelor’s degree, and many require further degrees or certifications, such as a Certified Financial Planner (CFP) or Certified Fund Specialist (CFS). Other requirements can be needed as given below.
1. Certifications
There are many, many different certifications you can get once you’re in the field of banking, and they are all pretty specialized.
- Certified Management Accountant (CMA).
- Chartered Financial Analyst (CFA)
- Chartered Investment Counselor (CIA)
- Certified Financial Planner (CFP).
- Certified Fund Specialist (CFS)
- Certified Public Accountant (CPA).
- Chartered Financial Consultant (CFC).
2. Bachelor’s Degree
There are a few different areas you can specialize in with a bachelor’s degree that work well in commercial banking. Consider majoring in finance, accounting, business, or banking.
3. High School Diploma
There are only a few jobs in the banking sector that you can get without a bachelor’s degree, but even those will expect you to have a high school diploma.
4. Master’s Degree
The Master of Business Administration (MBA) is often considered the ultimate in the world of banking, but it is by no means the only option. You can get a master’s in finance, economics, financial technology, accounting, mathematics, statistics, and several other fields.
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