- Finance
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- Is Finance A Good Career Path
- Is Real Estate A Good Career Path
- Is Major Banks A Good Career Path
- Is Business Services A Good Career Path
- Is Property-Casualty Insurers A Good Career Path
- Is Commercial Banks A Good Career Path
- Is Investment Managers A Good Career Path
- Is Homebuilding A Good Career Path
- Is Specialty Insurers A Good Career Path
- Is Capital Goods A Good Career Path
- Is Diversified Commercial Services A Good Career Path
- Is Finance Consumer Services A Good Career Path
- Jobs Available In Real Estate Investment Trusts
- Jobs Available In Capital Goods
- Jobs Available In Property-Casualty-Insurers
- Jobs Available In Commercial Banks
- Jobs Available In Investment Managers
Is Commercial Banking a Good Career Path? (15 Jobs in Commercial Banking: Best-Paying + Entry-Level)
Yes, commercial banking presents a multitude of rewarding career paths. This diversity is one of the primary reasons it remains an attractive option for job seekers.
Individuals who pursue careers in commercial banking often have a passion for working with numbers and finances. The field is varied, offering roles for those who enjoy direct customer interaction as well as positions for those who prefer analytical tasks.
One notable advantage of embarking on a career in commercial banking is the job stability it offers. While the methods of managing money continue to evolve—embracing advancements like digital banking, mobile apps, and cryptocurrencies—the foundational need for banking services remains constant.
Here are 15 excellent job opportunities in Commercial Banking:
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Underwriting Assistant Jobs (Overview)
5 Best Paying Jobs in Commercial Banking
Careers in commercial banking demand high levels of confidentiality and trustworthiness, as they often involve sensitive information and substantial financial transactions. Consequently, those who excel in these roles can expect significant financial rewards, including competitive salaries.
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Commercial Banking Manager/President
Average Annual Salary: N/A
At the pinnacle of commercial banking is the role of manager or president, overseeing all operations and divisions while liaising with branch and regional managers to ensure smooth functioning.
This position also involves promoting the institution to large enterprises and maintaining relationships with existing clients.
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Average Annual Salary: $72,000
The account manager is responsible for managing both new and existing customers, addressing inquiries about products and services, and guiding clients toward the most suitable options. This role carries significant responsibility, as in-depth knowledge of the bank’s offerings is essential.
Many account managers begin with individual clients before progressing to manage accounts for businesses or high-net-worth individuals, providing ample opportunities for growth.
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Average Annual Salary: $44,000
Loan officers assess, approve, and authorize loans for individuals, groups, and businesses. This position demands comprehensive knowledge of loan products, credit evaluations, market trends, and applicable laws at both federal and state levels.
Typically, loan officers hold a bachelor’s degree and possess a minimum of three years of banking experience, with ongoing education required to stay current with regulations and market changes.
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Software or Banking Systems Specialist
Average Annual Salary: N/A
As with many fields today, the technical aspect of banking offers lucrative opportunities. The role of software or banking systems specialist is among the highest-paying in the industry.
This professional is responsible for installing, maintaining, troubleshooting, and updating the bank’s software systems, often requiring a substantial amount of technical support.
For those interested, advancing to corporate offices allows for involvement in creative software development, potentially leading to even higher earnings.
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Average Annual Salary: $37,000
A mortgage banker specializes solely in mortgage services. Given the complexity and regulation of the housing market, having dedicated professionals to navigate these waters is critical for banks.
Banks invest in mortgages for a reliable income stream, making the mortgage banker’s role vital as they assess borrower reliability.
10 Entry-Level Jobs at Commercial Banks
The finance sector, particularly commercial banking, is highly competitive. While some entry-level positions do not require a bachelor’s degree, those aiming for long-term advancement should consider obtaining a degree.
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Average Annual Salary: $29,000
Most receptionists in commercial banks possess a high school diploma, though additional education is often unnecessary. Their primary role is welcoming guests and directing them to the appropriate personnel.
Creating a welcoming environment is crucial, as it influences customers’ decisions to engage with the bank’s services.
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Average Annual Salary: $36,000
Administrative assistants may have advanced degrees, though they are not always required. This role involves supporting management with day-to-day tasks, report preparation, appointment management, and ensuring overall operational efficiency.
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Average Annual Salary: $30,000
Security guards play a pivotal role in safeguarding valuable assets in banks, including cash, documents, and personal items in safety deposit boxes.
They may be visible to the public or work behind the scenes monitoring surveillance systems and accompanying personnel during off-site tasks.
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Average Annual Salary: $31,000
A bank teller can often secure a position with just a high school diploma. This role involves handling confidential information and cash transactions while providing friendly customer service.
This position is an excellent entry point into the banking industry, allowing individuals to gain experience while possibly pursuing a degree.
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Average Annual Salary: $44,000
An assistant manager typically requires a degree and some management experience. This entry-level position serves as a stepping stone for those looking to advance in finance and management.
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Average Annual Salary: $31,000
A personal banker serves customers by helping them establish basic accounts and providing guidance on financial products. Typically, they hold a bachelor’s degree and are at the beginning of their careers.
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Average Annual Salary: $61,000
Large banks often employ notary publics to witness the execution of legal documents. This role requires certification by the government. Smaller banks may incorporate notary duties into various other positions.
While no formal education is required, candidates must meet state regulations, pass an exam, and secure a surety bond.
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Average Annual Salary: $36,000
Underwriters assess loan applications, ensuring that applicants have the financial means to repay loans and a good credit history. The underwriting assistant handles much of the paperwork and research, providing valuable insights for future advancements in this field.
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Customer Service Representative
Average Annual Salary: $30,000
A customer service representative must become well-versed in the bank’s offerings. Their role includes guiding customers toward financial solutions that benefit both parties and handling tasks like payment processing and refunds.
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Average Annual Salary: $37,000
A loan assistant supports loan officers, performing tasks related to paperwork, research, and compliance with lending laws. This role is essential for those seeking to build a career in banking, offering the chance to learn and demonstrate trustworthiness.
Why Choose a Career in Commercial Banking
There are numerous compelling reasons to consider a career in the commercial banking industry:
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Diverse job opportunities. The banking industry offers a range of career paths beyond just finance and numbers, encompassing roles from security to management.
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Extensive networking. Many banking positions involve direct customer interaction, allowing you to develop interpersonal skills and build professional relationships.
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Utilization of math skills. Banking professionals regularly apply mathematical skills, making it an ideal field for those who enjoy crunching numbers.
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Strong growth potential. The banking sector offers ample opportunities for career advancement and competitive salaries, making it a lucrative field for ambitious individuals.
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Enhanced personal finance skills. Working in banking equips you with valuable knowledge that can improve your personal financial decision-making.
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Job security. Banking remains a stable industry, ensuring ongoing demand for skilled professionals, regardless of shifts in financial trends.
Education and Certification Requirements for a Career in a Commercial Bank
Most positions in commercial banking require at least a bachelor’s degree, with many roles necessitating additional qualifications like Certified Financial Planner (CFP) or Certified Fund Specialist (CFS). However, there are entry-level jobs available for candidates with or without a degree, providing essential experience and networking opportunities.
For those committed to a banking career, consider the following educational paths:
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High School Diploma. While most positions require a bachelor’s degree, some entry-level roles are available for high school graduates.
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Bachelor’s Degree. Consider pursuing a major in finance, accounting, business, or banking, all of which are beneficial for commercial banking careers.
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Master’s Degree. For those seeking advancement, a Master of Business Administration (MBA) is highly regarded, though degrees in finance, economics, and related fields are also valuable.
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Certifications. Numerous specialized certifications are available in banking that align with individual career goals, including:
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Certified Financial Planner (CFP)
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Certified Fund Specialist (CFS)
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Certified Public Accountant (CPA)
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Certified Management Accountant (CMA)
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Chartered Financial Analyst (CFA)
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Chartered Investment Counselor (CIA)
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Chartered Financial Consultant (CFC)
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Financial Risk Manager
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What Do People Working In Commercial Banking Do?
Commercial banking jobs encompass a wide range of roles and responsibilities. From entry-level positions requiring minimal experience to senior corporate roles demanding extensive qualifications, the industry provides numerous pathways for career development.
Most individuals encounter commercial banking as customers, utilizing services such as savings and checking accounts, loans for homes and vehicles, and various financial products.
Commercial banks generate income through the interest charged on loans, which are funded by customer deposits. This intricate relationship provides invaluable insights into banking operations for professionals within the sector.
- Finance
- Jobs Available In Life Insurance
- Is Finance A Good Career Path
- Is Real Estate A Good Career Path
- Is Major Banks A Good Career Path
- Is Business Services A Good Career Path
- Is Property-Casualty Insurers A Good Career Path
- Is Commercial Banks A Good Career Path
- Is Investment Managers A Good Career Path
- Is Homebuilding A Good Career Path
- Is Specialty Insurers A Good Career Path
- Is Capital Goods A Good Career Path
- Is Diversified Commercial Services A Good Career Path
- Is Finance Consumer Services A Good Career Path
- Jobs Available In Real Estate Investment Trusts
- Jobs Available In Capital Goods
- Jobs Available In Property-Casualty-Insurers
- Jobs Available In Commercial Banks
- Jobs Available In Investment Managers
Author
Kristin Kizer is an award-winning writer, television and documentary producer, and content specialist who has worked on a wide variety of written, broadcast, and electronic publications. A former writer/producer for The Discovery Channel, she is now a freelance writer and delighted to be sharing her talents and time with the wonderful Zippia audience.
