Mary Lorenz, writer for CAREERBUILDER.COM has come up with this list. She shared this at JOBS.AOL.COM jobs.aol.com/article/_a/top-10-jobs-in-banking-and-finance/20070724124109990002 . The salary information was from Cbsalary.com.
1. Financial analysts work for businesses to help them or their clients make investment decisions. Analysts must have a bachelor’s degree, often in business administration, accounting, statistics or finance, analysts with a master’s degree in business administration will find themselves among the most desirable employees. Average salary: $58,205/year*; with benefits and bonuses: $73,594
2. Personal financial advisors use their knowledge of investments, tax laws and insurance to recommend financial options that help individuals meet their short- and long-term goals. Advisors with a bachelor’s degree in accounting, finance, economics, business mathematics or law will have the best opportunities for jobs in their field. Average salary: $66,405/year; with benefits and bonuses: $85,553
3. Accountants analyze, plan, evaluate and advise on matters of accounting theory and practice. A bachelor’s degree in accounting or a related field is usually required, but those with a master’s degree or experience to boot will have better job opportunities. Average salary: $43,215/year; with benefits and bonuses: $52,813
4. Auditors examine and analyze accounting records and prepare financial reports for clients. Auditors usually need a bachelor’s degree, but as with accountants, experience and advanced degrees increase their chances of getting hired. Average salary: $57,365/year; with benefits and bonuses: $68,138
5. Loan officers assist individuals and organizations in applying for loans, assess the individuals’ creditworthiness and help them determine the most appropriate type of loan for his/her needs. Employers usually require loan officers to have a bachelor’s degree in finance, economics or a related field. Loan officers will find experience in banking, lending or sales and knowledge of computers to be huge assets in their job search. Average salary: $48,318/year; with benefits and bonuses: $58,685
6. Collectors keep track of accounts that are overdue and attempt to collect payment on them, making computer literacy and good communications skills a must in this job. Most collectors are required to have at least a high school diploma; however, employers prefer workers who have completed some college or who have experience in other occupations that involve contact with the public. Average salary: $27,960/year; with benefits and bonuses: $33,215
7. Bank tellers cash checks, accept deposits and loan payments and process withdrawals. They also may sell savings bonds and travelers’ checks, accept bill payments and process paperwork. Most tellers have at least a high school diploma, but people with bachelor’s degree in business, accounting or liberal arts may get jobs as tellers to break into banking with the hopes of being promoted. Average salary: $19,828/year; with benefits and bonuses: $24,793
8. Buyers buy the goods and services a company needs either to resell to customers or for the establishment’s own use. Educational requirements vary with the size of the organization, but many manufacturing firms prefer applicants with a bachelor’s or master’s degree in engineering, business, economics or one of the applied sciences. Average salary: $44,919/year; with benefits and bonuses: $54,428
9. Treasurers direct an organization’s financial goals, objectives and budgets. Their duties may include overseeing the investment of funds and executing capital-raising strategies. Employers require a bachelor’s degree in accounting, finance, economics or business administration; however, employers increasingly are placing emphasis on advanced degrees in these fields. Average salary: $97,645/year; with benefits and bonuses: $130,957
10. Budget analysts provide analysis and assistance to help companies develop their annual budgets, decide how to allocate current resources and estimate future financial requirements. A bachelor’s degree — often in finance, economics, accounting, business, statistics, political science or sociology — is the minimum requirement for most employers, but an advanced degree is often preferred and sometimes required. Average salary: $55,566/year; with benefits and bonuses: $67,586
The term Bank Run usually describes an event wherein many depositors simultaneously withdraw their money immediately for fear that the bank is no longer capable of paying off their accounts in full and in the proper time. The problem exists because banks do not normally keep huge portions of the money on hand and are usually invested in form of lending and interest bearing assets that allows them to cover interests on depositor’s accounts.
Just like any other commercial institutions, banks cater to products or services that are required by the public which in the case of banks is money. Money or currencies are sold by banks by way of loans, CDs (Certificate of Deposits) and other similar financial service. Profits made by banking institutions are referred to as interests which are made through the charges added on loans (these interests are higher than the interests they pay out to depositors) and other banking products.