Requirements to Become a Banker

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A banker is responsible for the financial operations of personal and business accounts in a bank. Bankers process all the transactions for customers, qualify individuals for loans, advise customers about savings accounts and answer any complaints or issues involving financial matters. Banks are responsible for safeguarding money and providing various financial services, including credit cards, debit cards, loans and cashier’s checks. According to Indeed, as of 2010, the average salary for a banker is $64,000 per year.

Education

  • While a bachelor’s degree is the minimum education requirement to become a banker, many promotion and advancement opportunities are available to those with a Master of Business Administration (MBA) degree. Finance is one of the best business degrees to focus on at the undergraduate and graduate level. While an undergraduate degree in finance teaches students the fundamentals of financial matters, an MBA in Finance offers students specific practical and real-world banking knowledge and skills. Courses are available in financial reporting and analysis, portfolio management, equity and fixed income, derivative securities and qualitative finance.

Training

  • Prospective bankers often embark on an internship in a bank, which offers them an opportunity to observe and work in a professional environment. Internships are often completed during the summer between semesters or as a part-time job that doesn't interfere with coursework during the semester. While interns often perform low-level duties, such as making copies, filing records and doing clerical work, having any sort of work experience in the field helps graduates land jobs after graduation. Internships also allow individuals to develop contacts in the industry and offer networking opportunities.

Skills

  • Bankers need to have excellent interpersonal and communication skills in order to develop trust and encourage clients to continue doing business with them. Having computer skills is also an important skill for bankers, because it helps them keep track of account and financial information. There are several banking and financial software programs that bankers need to understand how to operate, such as Calyx and Microsoft Money.

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References

  • Photo Credit diagram money iii image by Mykola Velychko from Fotolia.com
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