Banking Jobs in the United Kingdom

Banking Jobs Overview

If you enjoy working with numbers and want a solid, steady career, a job in banking is a great idea. Banking jobs typically involve working a 9-to-5 shift in an office, so they provide plenty of stability. Depending on the job you pick, your responsibilities can range from tracking data to chatting with customers.

Banking jobs to consider include:

• bank teller
• investment banker
• loan processor
• mortgage loan processor
• financial analyst
• senior accountant
• credit analyst
• financial accountant

Find the Right Banking Job

If you want to choose a career in banking that aligns with your interests, lifestyle, values, and career goals, you'll need to take a little time to research your options. Follow these steps to discover the perfect banking job for you.

Define Your Banking Career Goals

Start by thinking about what you hope to accomplish in your banking career. Do you want a low-key job with a good work-life balance? Are you hoping to have a lot of responsibility and power in a fast-paced setting? Identifying your goals helps you narrow down your career options.

It's also useful to consider your skills and interests. Ask yourself whether you enjoy working with customers or prefer a job focused on analysis and data entry. If you’re an outgoing individual who loves to interact with the public, you might enjoy working as a bank teller or loan officer. If you have a passion for working with numbers, you might do well as a financial analyst or chief financial officer.

Read the Job Description Closely

A job description tells you a lot about whether the position would be a good fit for you. Here are the top five factors to consider when reading postings for banking jobs:

• Do you have the skills and training for the job?
• Is the salary appropriate for your level of experience and expertise?
• Does the employer have reasonable and clear expectations?
• Will the schedule and hours suit your lifestyle?
• Are the company's location or work-from-home options right for you?

Learn More About the Bank

Take some time to research the bank offering the job. Make sure their mission, values, and culture mesh with both your personal values and your job goals. To find out whether people are happy working for a certain company, you can ask current and former employees about their overall work experience or walk around the facility where you might work to get insights into the company culture.

You will also want to research a company to determine whether it seems like a reputable employer. The easiest ways to research a company are by reading online reviews and visiting its About page to review its mission statement and ethics.

Evaluate the Scope of the Role

Try to picture yourself in the role that the banking job listing describes. Think about whether the day-to-day duties sound like things you're comfortable doing. Pay close attention to how much responsibility, independence, and supervision the job involves.

Make Sure You're Qualified

To avoid wasting time on an application for a job you probably aren't ready for, evaluate your own skills and experience. Make sure you have the education and experience the employer wants.

Pick Banking Jobs with Growth Opportunities

Keep in mind where you want to go next. The ideal job will be one that helps you achieve your future banking career goals. A company that offers its employees opportunities for growth frequently promotes from within, offers chances to train for higher-level jobs, and is receptive to your ideas.

How to Apply for Banking Jobs

Finding a promising job listing is only half the battle. You'll still need to actually apply, interview, and get an offer. Here are some tips for creating an application that highlights your skills and makes you stand out from the crowd.

Gather All Relevant Information

Applying gets a lot easier if you gather the necessary information ahead of time. Double-check the job listing to see where they want you to apply and what information they want you to submit. Start assembling your CV, cover letter, and any other requested documentation, like references or portfolios.

Create a Perfectly Tailored CV

Every successful CV has the essentials, like professional formatting, an experience section, and a professional summary. But if you want to go the extra mile, create a unique CV that specifically mentions the skills that the job listing requests.

If you’re applying for a job as an accounting manager, for example, you might stress your math and problem-solving skills as well as your enthusiasm for helping customers. It's also a good idea to include keywords related to your job. Before a human sees your CV, your CV may go through a computerised applicant tracking system (ATS) that scans it for pertinent keywords like "portfolio management" or "private banking."

Write the Ideal Cover Letter for Banking Jobs

Your cover letter is your chance to build a personal connection with the hiring manager. Every good cover letter writer customises their letter to address the job they're applying for, and it needs to include:

• a professional header with your name and contact information
• a polite greeting
• a closing phrase expressing interest in an interview

Your cover letter's body will provide specific details backed up by your CV. Start by letting the company know about your background in banking and why you’re interested in this particular employer and job. For instance, if you already have five years of experience as a bank teller but, after earning your bachelor’s degree in finance while working, you’re looking for a position with the company as an investment banker, then explain this in the cover letter.

Then, go into specifics about your skills and qualifications. Mention your excellent customer service and analytical skills, along with your ability to work under pressure. If possible, provide concrete information about achievements in past banking positions, such as promoting additional financial products to customers, which led to an increase in revenue.

Submit Your Application

Applying for banking jobs via Monster is fast and easy. All you need to do is follow these steps:

1. Sign up for a Monster account to upload your CV.
2. Find a job you like, and click the "Apply" button.
3. Use the CV and your job profile to apply for the position.
4. Double-check the application to see if you want to customise or edit anything.
5. Finalise your application.

Never Underestimate the Power of a Follow-Up

The banking industry tends to be fairly formal and professional, so following job application etiquette is essential. A follow-up is a great chance to show you can behave professionally and communicate well.

When Should You Follow Up?

A follow-up needs to be recent enough to be relevant but not so prompt that it seems pushy. The usual practice in the banking industry is to follow up one to two weeks after submitting an application. If you get an interview, follow up around 24 hours afterward.

How Do You Follow Up?

The simplest way to follow up is with an email. This is ideal for a job application where you haven't talked to anyone directly yet. After an interview, it's appropriate to call or speak to the hiring manager in person to follow up. You can also send a post-interview thank-you note via email.

Who Do You Follow Up With?

If possible, speak to the hiring manager for the bank to follow up after applying. You might be able to find their contact information on the bank's website. Some people also have success checking the job posting for contact details. If you don't know who to follow up with, find the bank's HR department or company representative and direct your follow-up to them.

Interviewing Tips for Banking Jobs

After you submit an application, your next goal is to ace the interview. No matter how extroverted you are, an interview can be intimidating. However, these tips will make it easier to succeed.

Prepare Ahead of Time

Almost no one gets jobs by winging their interviews. Especially in highly professional environments like banking, hiring managers want to know you pay close attention to detail and research essential topics carefully. You can do this by taking the time to learn about the company and practicing your answers for common banking interview questions such as:

• Why do you want to join the banking sector?
• What are the types of accounts in a bank?
• What is the annual percentage rate (APR)?
• What is loan grading?

You’ll also want to think of a few additional questions to ask about the specific job you’re applying for.

Know What to Expect

The typical banking interview starts with an in-person meeting lasting around 30 minutes. This interview will focus on asking questions to assess your technical knowledge and professionalism.

For lower-level jobs, like a bank teller position, this might be the only interview you need. However, for higher-level jobs like investment banking, you may have up to three interviews.

Try These Tips

Here are some essential tips for doing well in any interview:

• Dress formally, and aim to be one step above the bank's employee dress code.
• Come prepared with a printed version of your CV.
• Describe concrete examples of how you used your skills to benefit your past employers.
• Make eye contact with the interviewer, listen to them carefully, and treat all employees with respect and politeness.
• Use interviewing techniques, such as the STAR (Situation, Task, Action, Result) method, to confidently format answers to complex questions.

Remember to Follow Up

Send a thank-you note after the interview to thank everyone for their time. If you don't hear back within a couple of weeks, you can contact them again to reemphasise your interest in the job.

What Happens When You Get an Offer?

In the banking industry, they won't expect you to accept a job the second they offer it to you. Instead, all you need to do is politely thank them and begin discussing the offer. They'll typically email you a document that includes the position's official responsibilities, salary, and benefits. It's normal to negotiate a little.

When negotiating, stay calm and professional. Mention average compensation rates in your area and explain why your skills are worth a certain amount. Once you come to a satisfactory agreement, you'll sign the offer and start the onboarding process.

Banking Career Paths

The banking industry has a few different career paths you can follow, depending on your goals and skills. Some of the most popular banking and financial career paths are:

• tax examiner
• private banker

Reaching your career goals can require more than just getting a banking job and travelling up the ranks. You'll eventually reach a stage where you'll need education and training to go with your banking experience. A bachelor's or master's degree in finance or another related field is essential.

Similar Jobs to Try

If you're looking to branch out from traditional banking jobs, there are plenty of other options. Your skills might qualify you for these jobs:

• mortgage loan processor
• office manager