How to Find The Best Banking Jobs?
<P>Banks and banking are large topics to discuss; this particular article will settle for defining their purposes, as well as noting some of the banking jobs available. </P> <P>A bank is financial institution, also called an intermediary (because it mediates between amounts of loans and the customers who seek them); they are also deposit houses that hold customers monies for them. Once a bank accepts a deposit, it will take that money and channel it into a lending activity, usually investing it in capital markets such as diversified stocks and sundry businesses that will yield interest. A bank will specialize in both savings accounts (which accumulate interest as a result of the money being channeled out) and checking accounts (which keep the customers money stationary and available in reserve). </P> <P>A bank answers to the Basel Accords, the international capital standards that govern the ethical use of money and its diversification; this is because most banks deal in fractional reserve banking, which is where one holds only a small amount in reserve of the funds that have been deposited, and lends the rest out for interest and profit. </P> <P>Bank operations and activities are fairly simple: they hold savings and checking accounts for customers, pay checks (or, in this modern day, ATM withdrawals) drawn by customers, and collect payments to customer accounts. A bank will borrow money through current accounts, term deposits (money that cannot be withdrawn until a certain period of time has elapsed), and securities for debt known as bonds (negotiable certificates for the value of the monies). </P> <P>A bank will also lend money by advancing it to customers with current accounts; these loans can be repaid in the form of installments (with monthly payments) in the case of individual customers, and, in the case of business institutions, in the form of investing in debt securities mentioned above. These are, in a nutshell, the functions of banking. </P> <P>What are some typical banking jobs? Back in the day, unless one was an owner or an official, the best job available was that of a bank teller, someone who stood at a window or partition, accepted deposits, cashed checks and issued bonds and travelers checks (he made about $25K a year). With the advent of the computer, and some incredible advancement in financial and vocational diversification, there are numerous jobs available to both college and high school graduates with a financial bent. Here are a few of them. </P> <P>Financial analysts assist with banking and investment decisions for both businesses and regular customers; these individuals can begin the job with no more than a bachelors degree (although it should be in business administration and finance, as well as statistics and/or accounting; this is true of all such positions). Their average salary is $74K a year. </P> <P>Accountants advise and analyze customer accounts based on accounting theory and practice, and can, in addition, administer the financial records of the bank (in the old days, this was called keeping the books). A masters degree is preferred for these positions, as it is also for auditors, individuals who analyze and examine accounting records and report on financial deficits and similar problems to clients. Accountants typically make 52K a year; auditors closer to 68K.</P> <P>A personal financial advisor can have only a bachelors degree, but should have a wide knowledge of investments, insurance, tax laws and financial options for his/her clients. Their typical salary is 85K a year. They are frequently partnered with loan officers, who assist customers in applications for loans, assess credit scores and determine payments. These individuals make around $58K annually. </P> <P>Finally, budget analysts develop annual budgets for various companies, analyzing their sales potential and allocation of current resources while estimating future financial needs. They make around 67K per year. </P> <P>These are some general facts about banks, the financial backbone of every economy on the globe, and the jobs these institutions offer.</P>
