How to Become a Banker: Step-By-Step Guide

I see you’re interested in the world of banking, and I’m here to help guide you on this financial journey. Becoming a banker is a rewarding path, and I’m here to share some valuable insights with you.

Do you know that bankers can earn around $67,312 per year in competitive salaries, with potential for growth and financial stability? πŸ’° It’s a career choice that can provide you with a strong foundation for your financial future.

Bankers are responsible for managing money, assisting customers with financial decisions, and helping individuals and businesses achieve their financial goals. It’s a role that requires a blend of financial knowledge, customer service skills, and dedication.

I’ve had the privilege of knowing many successful bankers, and they’ve made significant contributions to their communities and the financial industry as a whole.

Today, I’m excited to provide you with a deeper understanding of the role of a banker and the steps to becoming a successful one. I’ll guide you through the essential knowledge and skills you’ll need to thrive in the world of banking. πŸ‘‡πŸ’Ό

Questions you should ask yourself before starting your career as a banker

Looking at the financial stability you will achieve by working as a banker you might feel that working as a banker may be a good position to work for. But here are a few questions you should consider asking yourself before you head toward choosing a career in the field of banking. 

  1. Do you have a genuine interest in the field of financial services and banking? 
  2. Do you have a degree similar to the field of banking? 
  3. Are you willing to learn subjects such as finance, insurance, economics, and accounts that are required to pursue a career in the banking industry?
  4. The field of banking and finance can be stressful at times, do you think you will be able to manage stress efficiently to meet the deadlines on time?
  5. Does a career like banking align with your long-term aspirations?

If choosing banking as a career aligns with your interests, skills, and goals, the next step for you is to start preparing for the role of a banker.Β 

Who is a banker?

A banker is an individual who performs various banking tasks such as accepting deposits, lending money, providing credit facilities, and handling currency exchanges. Essentially, a banker is someone directly associated with a banking institution and is responsible for overseeing its banking operations. πŸ“

According to the US Bureau of Labor Statistics, the employment growth for bankers is expected to rise by 8% by the year 2032. 

Typically, the owners or administrators of the financial institution are referred to as bankers. They bear the responsibility of managing and operating the banking organization. In simpler terms, anyone engaged in banking activities can be considered a banker. 

Additionally, individuals or organizations directly involved in conducting banking transactions are also recognized as bankers, while individuals collectively referring to a banking institution are often referred to as bankers.✍️

Scope of Bankers in the Future

Bankers have been in demand for the last few years. The employment in the year 2022 reported an employment size of 3,76,100. 

Currently, there are multiple openings for bankers. The sector is highly recognized globally and about 27,400 job openings are posted every year on average. 

The Big 4’s also stated a positive statement in some of its articles. The top firms such as Bank of America, JP Morgan, Goldman Sachs, Barclays, and many more hold potential opportunities for bankers in the future.  

Additionally, with the expected employment change expected in the future. Bankers would have numerous doors open for them.Β Β 

Expert Skills Required to Become a Banker

  • Proficiency in analyzing financial data and statements
  • Ability to build and maintain strong relationships
  • Skilled in promoting and selling services and banking products
  • Ability to assess and manage financial risks
  • Awareness of ethical standards in financial dealings
  • Awareness of market trends and economic conditions
  • Proficiency in using banking software, online platforms, and digital tools
  • Familiarity with financial planning principles

How much can a banker earn?

In the United States, the average salary in the banking industry amounts to approximately $67,312 per year or $32.36 per hour. For those starting in entry-level positions, the initial annual income typically begins around $37,050. 

However, as individuals gain more experience and expertise, the earning potential rises significantly, with the most seasoned professionals earning up to $146,138 per year. πŸ’Έ

It’s important to note that salaries may vary depending on factors such as job position, level of experience, location, and the specific financial institution. These figures reflect the general range observed in the banking sector in the United States.

How to Become a Banker

Let me take you through the right ways to become a banker. 

Obtain a Bachelor’s Degree in a Relevant Field

  • Students aspiring to enter the banking industry often opt for a business major with potential specializations in finance, economics, or accounting. 
  • However, certain banking specialties may benefit from a mathematics degree. 
  • For those uncertain about their specific interests, a general business degree provides exposure to various disciplines.πŸ“‹
  • These programs equip students with essential business skills, including financial literacy and quantitative analysis. 
  • They also develop valuable soft skills, such as networking, management techniques, and problem-solving abilities. On average, a four-year bachelor’s degree program costs around $35,550 per year.

Secure an Entry-Level Banking Position

  • Upon completing their bachelor’s degree, students commonly pursue entry-level jobs in the banking sector. 
  • Although securing the first job can be challenging for recent graduates, highlighting educational achievements and practical experience, such as internships, on resumes is crucial. 
  • Building a network of mentors from school can also help uncover opportunities. 
  • When evaluating job offers, students should consider factors like location, work-life balance, salary, and benefits. 
  • Some banks may also offer career bridge programs.πŸ§‘β€πŸ’Ό

Pursue a Master’s Degree in a Relevant Field

  • Advancing in the banking industry often benefits from obtaining a master’s degree. 
  • For specific fields like investment banking, an MBA holds significant value. 
  • However, a master’s degree is not mandatory, and alternative pathways for career progression exist. A master’s degree enhances earning potential. 
  • According to 2022 data from Payscale, finance professionals with an MBA earn an average of $31,000 more annually compared to those with a bachelor’s degree in finance.✍️

Secure a Position as a Banker

  • Upon obtaining a master’s degree, individuals typically transition into higher-level roles within the banking sector. 
  • Numerous specializations exist, including credit banking, investment banking, relationship banking, commercial banking, and private banking.
  • According to 2022 data from Payscale, the average salary for bankers is around $72,000 per year. However, top earners can achieve significantly higher salaries. 
  • When selecting a job, bankers should consider factors beyond salary, such as work-life balance, business travel requirements, and job security.βœ…

Explore Ongoing Education and Specialization

  • While not obligatory, bankers may opt to pursue further education as they progress in their careers. 
  • Graduate certificates can enhance earning potential and bolster competitiveness in the job market. 
  • Additionally, they provide opportunities for bankers to stay updated with evolving skills, emerging technologies, and new techniques. 
  • Doctoral programs in finance and economics are available, although they typically lead to specialized academic positions rather than direct careers in banking.πŸ’―

Responsibilities of a banker

Bankers are not limited to traditional banking roles. They also contribute to financial advisory services, investment management, and digital banking platforms. 

While managing accounts and transactions is a core responsibility, bankers may also engage in strategic planning, risk assessment, and customer relationship management. Here are some everyday duties of a versatile banker. ‡️

Client Assistance

  • The primary duty of a banker is to assist customers seeking financial services. 
  • Bankers regularly interact with clients to understand their specific needs and offer appropriate help, such as securing a student loan. 
  • Bankers must assess their bank’s capacity to fulfill customer requirements by reviewing their financial history.πŸ§‘β€πŸ’Ό

Records Maintenance

  • Bankers meticulously maintain comprehensive records of financial transactions within their institutions. 
  • This involves accurately recording account payments and reconciling bank records at the end of each day. 
  • Documents like bank statements and loan applications require proper filing and timely updates. 
  • Organizing records systematically ensures easy retrieval when needed in the future.πŸ“

Account Management

  • Bankers play a pivotal role in assisting clients with account management. 
  • This includes aiding clients in opening or closing accounts as per their preferences. 
  • Additionally, bankers review clients’ financial histories and guide account packages. 
  • It is imperative to uphold client confidentiality unless authorized by the bank’s contractual obligations, such as in cases of court testimony related to treason charges or during national emergencies.πŸ“ˆ

Product Services

  • Bankers are responsible for implementing new services, processes, and products as directed by senior management. 
  • Clients rely on bankers to inform them promptly about new offerings. 
  • In turn, the bank expects bankers to effectively sell these products to existing and prospective customers. 
  • Thorough knowledge of the bank’s products and services enhances sales effectiveness.πŸ§‘β€πŸ’Ό

Tips to improve your banking career

A career in banking is a continuous journey of growth and improvement. By implementing the advice and guidance provided in this article, you will be equipped to enhance your banking skills, make a lasting impact, and forge a rewarding and fulfilling career in the financial industry. 

Handling/Managing people

  • Interacting with customers and colleagues is a constant aspect of a banker’s role. Customer satisfaction and efficient resolution of complaints are vital in a competitive environment. 
  • Successful banking professionals exhibit resilience, both when working independently and in high-pressure situations. 
  • Collaboration and professionalism are highly valued in team environments within the banking sector.βœ…

In-depth knowledge

  • The banking sector encompasses a wide range of services, from simple to complex. 
  • Bankers must be well-versed in the rules, regulations, and guidelines governing daily operations. Continuous learning and updating of knowledge are essential. 
  • Cultivating a habit of reading expands knowledge across various domains in banking and the economy. 
  • Banking professionals should continuously broaden their understanding of all aspects related to banking, finance, and the economy.✨

Analytical skills

  • Risk management plays a crucial role in the banking sector and economic activities. 
  • When dealing with customers, bankers should analyze their financial background and economic activities. 
  • This helps mitigate non-performing loans, optimize capital utilization, and increase profitability. 
  • Successful bankers are recognized for their strong analytical thinking and their ability to take a holistic view of their colleagues’ work.βž—βœ–οΈ


  • Technological advancements have revolutionized banking, offering convenient options such as ATMs, debit and credit cards, and online and mobile banking. 
  • Electronic transactions have accelerated fund transfers. 
  • Bankers should educate customers about the benefits of online and convenient transaction methods. 
  • In today’s digital age, being technologically literate is essential for all.πŸ‘¨β€πŸ’»

Communication skills

  • Effective communication leaves a lasting impression on customers and colleagues. 
  • Bankers are expected to maintain a cheerful demeanor when interacting with customers. 
  • Understanding customer concerns and providing viable solutions clearly and simply is highly valued.πŸ§‘β€πŸ’Ό

Gear up for banking exams

  • Reflect on the aforementioned skills and competencies required for a banking career. 
  • Identify areas for improvement and take steps to enhance your abilities. 
  • With intense competition in banking exams, it is crucial to differentiate yourself from others. 
  • Focus on gaining a comprehensive understanding of banking concepts, processes, tools, techniques, technology, regulations, and guidelines. 
  • Invest your time in learning and preparing for banking job opportunities through classroom programs, online classes, and test series.πŸ“

Top banking courses in the United States

If you aspire to excel in the banking industry, you may be interested in exploring the best educational paths available to enhance your skills and jump on a successful journey.

We will explore some of the top banking and finance programs offered by reputable universities and business schools worldwide. These esteemed programs, ranging from renowned institutions to well-regarded university programs, provide comprehensive education, expert guidance, and valuable opportunities to refine your banking acumen and excel in your career. ‡️

Master of Professional Accounting

  • This program is designed for students who have already completed a bachelor’s degree and wish to pursue further education in the field. 
  • It provides in-depth knowledge of advanced accounting principles, equipping students with the skills necessary to pursue careers as professional accountants or financial professionals after completing the program.

Master of Science in Finance

  • The MSc in Finance is an advanced academic program designed to equip graduates with the necessary skills and knowledge to pursue careers in the finance industry. 
  • By completing this postgraduate program, graduates can gain valuable references, expand their professional network, and access resources that enhance their prospects of securing sought-after positions in the field.

Master in Finance

  • In general, a Master of Finance program caters to financial professionals seeking to enhance their expertise and technical skills within a condensed timeframe. 
  • Conversely, an MBA with a specialization in finance is tailored for students aiming to develop a comprehensive understanding of various business disciplines, with a significant emphasis on finance-related coursework.

Top Banking Schools in the World

A career in banking might be your calling if you have a knack for numbers, possess analytical skills, and thrive in a dynamic environment. However, mastering the art of banking requires more than just crunching numbers. 

It demands dedication, continuous learning, and honing your financial expertise. To kickstart your journey, here’s a compilation of the top 5 banking schools worldwide where you can commence your studies and refine your skills in this ever-evolving field. ‡️

IE Business School

  • The dual degree program of International MBA + Master in Advanced Finance offered by IE Business School presents a unique opportunity to enhance your professional competitiveness in your desired field. 
  • Within less than two years, this program equips you with a highly sought-after skill set in specialized management and provides one of the finest finance educations available globally. 
  • By completing this program, you can secure a prominent position as an exceptional professional in high demand.

HEC Paris

  • HEC Paris offers an MBA program in Finance that encompasses a comprehensive curriculum of finance courses. 
  • The program combines academic instruction and practical training delivered by esteemed HEC faculty and industry practitioners. 
  • Through a series of specialized courses, students will deepen their understanding of corporate finance, financial analysis, corporate valuation, asset management, financial credit, and sustainable investments. 
  • This program is designed to enhance students’ knowledge and expertise in the field of finance.

UCLA Anderson

  • UCLA Anderson School of Management provides specialized formats for its MBA in finance program. 
  • These options include concentrations in Corporate Finance, Investment Management, and Accounting. 
  • Additionally, students have the opportunity to pursue dual-degree programs, enabling them to earn an MBA while simultaneously completing another graduate degree at UCLA. 
  • This unique approach allows students to enhance their theoretical and practical knowledge in another field while completing their MBA studies.

Imperial College Business School

  • Imperial College Business School, located in London, has consistently ranked among the top ten globally and top five in Europe. 
  • Their MBA programs offer comprehensive modules in Finance, Corporate Finance, Investments and Risk Management, and Decision Analytics.
  • The Master’s program at Imperial College stands out for its London location, strong industry connections, renowned faculty, and practical approach to learning. 
  • As part of the Macroeconomics and Finance for Practitioners module, students even had the opportunity to visit Dubai and explore monetary and fiscal policy issues in a different economic context. 

Stanford GSB

  • Stanford’s Masters in Finance program provides an in-depth exploration of topics such as stocks, bonds, commodities, and other essential banking services. 
  • Students will acquire a comprehensive understanding of economic principles, including property pricing and valuation, market behavior, and financial decision-making within corporations and financial institutions.

Where to find banking opportunities online?

Are you an aspiring banker seeking exciting career opportunities? Look no further! In today’s digital era, the internet has emerged as a powerful tool for bankers to understand the job possibilities and connect with industry experts worldwide. 

This guide will navigate you through the online landscape, helping you identify ideal banking prospects that align with your goals and ambitions, whether you’re just starting or aiming to enhance your professional profile. ‡️


  • As a banker, you can leverage SimplyHired’s extensive database of job listings to explore a wide range of positions within the banking industry. 
  • The platform provides a user-friendly interface that allows you to search for jobs based on location, experience level, and specific job titles. 
  • You can also set up job alerts to receive notifications when new positions matching your criteria are posted.

Association for Financial Professionals

  • Instead of relying solely on large, generic job websites, it can be beneficial to explore industry-specific professional organizations in your field. 
  • The Association for Financial Professionals (AFP) is a notable organization in the finance industry. 
  • Through its dedicated “Career Center,” the AFP focuses on posting mid-level executive job opportunities. 
  • This specialized approach can be advantageous for individuals who have gained several years of experience in their career and are looking to target their job search effectively.


  • Indeed is a widely recognized and popular job search platform that offers a comprehensive range of job opportunities for professionals across various industries, including banking. 
  • As a banker, you can leverage Indeed to explore a multitude of job postings from leading banks, financial institutions, and other relevant organizations.

Financial Job Bank

  • FinancialJobBank is a specialized job search platform that offers a targeted approach for individuals seeking accounting and finance positions. 
  • While eFinancialCareers has a global focus, FinancialJobBank primarily caters to the U.S. market, providing access to a wide range of job opportunities in accounting and finance.

Key takeaways

Starting a career in banking may appear daunting, but with dedication and perseverance, there are no limits to what you can achieve. In my opinion, give your best, work diligently, and seize numerous interviews and opportunities to pave your path to success in the financial world. Who knows, you may become the next banking person!

In case you still have any queries left, feel free to drop your questions in the comment sections below and we will get them answered for you:)

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