It is apparent that the world of banking is one of the most important job markets within the United Kingdom. There are many facets to this field and while personal banking is perhaps the most common, other positions such as a commercial loan accountant or a mortgage underwriter are equally as important. This will present the applicant with numerous options and unlike some other industries, it is not entirely uncommon for one to begin a career as an assistant manager before switching to a more specialised field. In simpler terms, there is a great amount of lateral mobility in banking.
Banking Job Education Requirements
Notwithstanding a position as a bank teller, specific roles in the banking industry will normally need to be accompanied by a bachelor's degree in finance from an accredited institution. Although these are rather broad in scope, such scholastic experience in very important for any employer. Should one desire to work in a field such as accounting, it is not uncommon to seek a registration with the Institute of Chartered Accountants in England and Wales (ICAEW). Likewise, those expecting to work within the mortgage broker business require a completely separate qualification known as the CeMAP 1. On the contrary, applicants who wish to eventually enjoy the position of a branch or district bank manager may only need on-the-job experience and the relevant recommendations. Obviously, other skills include a strength in maths, interpersonal communications and a proficiency to handle large amounts of money with ease.
Banking Job Market
Statistics from the early portion of 2014 have shown that the number of banking jobs available has fallen slightly in comparison to the previous year. This is seen to have been caused by changing recruitment approaches and (although the economy is growing) an uncertainty in the future marketplace. Thus, it is more important than ever to possess robust qualifications.
Banking Job Salaries
Statistics show that the average expected salary in 2014 is £41,383 pounds. However, this has slightly dropped during the past six months due to a slight stagnation in hiring.