Banking and finance, in broadest terms, is any business activity that occurs between people or organizations from different countries. In actual practice, there are many different kinds of banking and finance carried on between different kinds of people and finance institution.
There are literally hundreds of different jobs in business, each involving different activities, skills, and aptitudes. But in essence, all businesses have a common goal: to provide a product or service to a customer. And in most cases, banks and financial institutions seek to do so at a profit.
Most bachelor graduates continue their studies with a Master, but some banking and finance graduates walk straight into a career, or set up their own company. However, the larger banks and financial institutions tend to hire master graduates prior to graduation, based on internships and other networking experiences.
The specific activities businesses perform can be grouped broadly into eight categories: accounting, finance, leasing, credits etc. In addition to these basic activities common to all financial institutions, most banks also conduct research and service activities. In most large banks a person tends to specialize and work in one of these areas. In banks firms, a person may often be involved in more than one of these areas.
Banking and finance can be an exciting and rewarding career. Students may work in international or domestic positions with private banks, governments or other organizations. Though most international careers require extensive travel, some are home-based.
As with any professional career, a relevant college degree is necessary, along with business skills, foreign language skills and an ability to adapt to many different cultures. Since most corporations do not assign managerial employees to internationally oriented projects until employees learn the nature of the employer's banks and prove themselves in domestic assignments, it is wise for students to take advanced coursework in a career-oriented functional area such as financing.
General Career Titles in the Field
- Auditing Manager
- Business Banking Officer
- Client Services Representative
- Investment Account Analyst
- Investment Management Specialist
- Mortgage Consultant
- Senior Financial Analyst
- Stock Broker
- Quality Control Auditor
- Real Estate Agent/Broker
- Banking Adviser
- Financial Manager
- Investment Analyst
- Budget Analyst
- Corporate Manager
- Financial Assurance Specialist
- Revenue Cycle Administrator
- Senior Cash Manager
- Strategic Planning Program Advisor