In this highly competitive era, the country is developing at a rapid rate. The banking sector is also developing at an alarming rate.
Each year, thousands of banking job opportunities are offered by UK banks and banking institutions.
Every year banking sectors get a huge number of job applications. A larger portion of the candidates is opting for the banking sector due to the growth factor.
In the UK, one in 12 jobs is a banking job. So, if you have just completed your school or university then you might consider a job in the bank.
Here, in this article, I will cover all the reasons why you should choose banking as your career in 2024.
What is banking?
Banking refers to the job of managing the financial assets of a particular individual who has approached a particular bank. As a banker, your job is to protect and secure an individual’s money and financial assets.
People keep their money in the banks, banks lend money that generates interest and it makes a profit for the economy.
Skills required in banking:
The following skills will be required to build your career in banking:
- Analytical skills
- Customer dealing
- Customer satisfaction
- Mental mathematics
- Patience
- Communication skills
- Attention to minute details
- Good knowledge of numbers and counting
- Confidence
- Critical thinking
- Technical skills
- Stress management
- resilience
Why should I choose banking as my career?
Whether you prefer challenging projects where you can work with different types of people across the globe then you must choose banking as a career. Moreover, you will get opportunities for self-development and progress in the banking career path.
Here, I am providing all the genuine reasons why you can choose banking as your career in 2024.
Diversity of opportunity
As the UK is the financial hub in the world, the UK provides the most diverse and exciting jobs in the banking sector. For the more conventional banking roles, there is a collection of career opportunities at any of the abundant banks headquartered here.
UK banks look for mathematicians, economists, HR, marketing, statisticians, media and government regulation experts, and many more skilled professionals.
It will be better if these skilled applicants are aligned with the explosion in IT professionals and financial technologies.
Banking is also a major employer beyond London.
Keen interest in gaining domain knowledge:
If you have an interest in gaining domain knowledge of this industry then you must go forward and pursue your career in this field. You should never stop yourself from learning something.
You will get chances to learn subjects such as Financial Accounting, financial services management, information Technology in banking and finances, Quantitative methods, etc.
Professional training and development opportunities:
If you get a chance to work in an established bank or financial services in the UK then they will provide you the opportunity to take structured coaching and development.
This coaching is tried and tested throughout the bank’s entire journey. As you advance in your career, you can get an expert qualification as well.
Long-term career prospects:
If you have managed to urge through paying an honest excelling few years in a good reputation company then future employers will wish you in their institute.
Furthermore, the structured graduate training and experience in the sector will be well regarded. So, in the future, if you want to move to a different industry then you should move laterally into the banking and finance industry.
Your experience will help you harbour a goal to set up a business. Some of the UK’s leading entrepreneurs have started their careers as a banker.
This sector is always in demand:
The banking sector in the UK is always in demand; also it is filled with opportunities and challenges. The competition in the banking sector is high enough.
So, if you are interested in taking challenges then you must opt for this sector.
Personal and professional growth:
Banking jobs also enhance both your professional and personal growth and development. On the path of your work, you will learn managerial skills and also how to save money and manage a proper budget for times of emergencies, travelling, and education.
Banking is one of the largest employers:
Banking is one of the largest firms across the globe including the UK. This sector makes a huge amount of contribution to the economy and also generates a particular amount of taxable income.
The banking industry has a wider range of job opportunities those are available in graduate schemes, and for those who are looking to return to work.
An international career opportunity:
As the banking sector has a global existence, if you are in the banking sector then you can have opportunities to travel and work in other countries too. You may also get different colleagues around the globe.
Also, you can adopt professional skills from people around the world.
High salaries and tremendous benefits:
The banking sector often rewards its employees with very attractive benefits packages. The banking sector also offers a competitive salary package to its employees.
An entry-level employee may expect 23 days of holiday per year which can rise to 30. If you need to work for a long or outside standard of your office hours then you will be compensated with overtime pay or time off.
Your remuneration package also may include health insurance and a company car or travel allowances.
Career progression:
Banking may also offer you a lot of professional progression opportunities. You may get a responsibility early in your life as it is a very demanding career.
There is rapid career advancement in the banking sector. If you have high ambitions and expectations for your career then you must opt for a banking career.
FAQ:
What types of jobs are in the banking sector?
Ans: there are different types of banking jobs in the UK that you can pursue. The categories are personal banker, banking associate, loan officer, relationship manager, investment banker, probationary, officer, and so on.
Is banking a good career in the UK?
Ans: The banking sector is one of the greatest sectors worldwide including the UK. This banking sector makes a great contribution to the economy of the country. In the UK, one in 12 jobs is a banking job. So, you can get a good career opportunity if you select banking as your dream job.
Wrap Up:
So, you can see some of the genuine reasons why you should opt for banking jobs. Application numbers of banking jobs are consistently high for these reasons.
Particularly bright graduates are showing more interest in the UK’s banking job opportunities.
The banking sector is one of the most secure and safest domains to work for. Banking offers many rewarding career opportunities. Besides that, you need to work in a challenging role to help boost the economy and restore public faith in the sector.
