There are various kinds of banking associates, and they have different roles and responsibilities. Commercial banking associates sell banking products to new and existing customers. Investment banking associates work closely with investment analysts to identify opportunities and sell investment packages to investors.
A day in the life of a banking associate varies depending on the department and current needs. However, like other banking sector professionals, they often work long hours and shoulder a lot of responsibility. A large part of the job involves meeting and interacting with clients. Before trying to sell a product, banking associates may often probe to understand clients' needs and see how their products can help.
To become a banking associate, you need a degree in business administration, management, or related fields. Applicants with an MBA have higher chances of finding employment as a banking associate. The required skills include relationship building, communication, problem-solving, and proactivity.
There is more than meets the eye when it comes to being a banking associate. For example, did you know that they make an average of $15.12 an hour? That's $31,454 a year!
Between 2018 and 2028, the career is expected to grow -12% and produce -57,800 job opportunities across the U.S.
There are certain skills that many banking associates have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed customer-service skills, math skills and detail oriented.
When it comes to the most important skills required to be a banking associate, we found that a lot of resumes listed 36.5% of banking associates included financial transactions, while 24.7% of resumes included financial needs, and 4.7% of resumes included financial services. Hard skills like these are helpful to have when it comes to performing essential job responsibilities.
When it comes to searching for a job, many search for a key term or phrase. Instead, it might be more helpful to search by industry, as you might be missing jobs that you never thought about in industries that you didn't even think offered positions related to the banking associate job title. But what industry to start with? Most banking associates actually find jobs in the finance and professional industries.
If you're interested in becoming a banking associate, one of the first things to consider is how much education you need. We've determined that 45.8% of banking associates have a bachelor's degree. In terms of higher education levels, we found that 16.8% of banking associates have master's degrees. Even though most banking associates have a college degree, it's possible to become one with only a high school degree or GED.
Choosing the right major is always an important step when researching how to become a banking associate. When we researched the most common majors for a banking associate, we found that they most commonly earn bachelor's degree degrees or master's degree degrees. Other degrees that we often see on banking associate resumes include associate degree degrees or high school diploma degrees.
You may find that experience in other jobs will help you become a banking associate. In fact, many banking associate jobs require experience in a role such as customer service representative. Meanwhile, many banking associates also have previous career experience in roles such as sales associate or teller.