Start a Career in the Growing Banking and Finance Industries

You may have thought that financial catastrophes of the past two years had completely decimated the banking and finance industries.

Guess again.

Although these sectors of the job market did experience heavy lay offs, signs of new life are emerging. In a the June 28 article “Finance Firms Rev Up Hiring,” The Wall Street Journal reveals that 6,800 finance jobs were added between February and May, the largest three-month increase in the past two years. The article adds that starting salary offers are up to 40% higher than they were one year ago.

So if you were considering a finance career once upon a time, but got scared off by the financial ups and downs of the past 24 months, now is the time to get back on track. Here’s a look at 3 hot finance careers and the degrees you’ll need to get started.

Banking Careers
According to the WSJ, banking positions are currently some of the most desirable. Whether you want to work at a large corporate bank or a smaller boutique firm, banks are one of the cornerstones of the economy, protecting money and lending money to business across the country. Financial managers, commodities agents, accountants, and computer specialists are just a few of the professionals that make a bank run.

Insurance Careers
Whether we like it or not, insurance is something we all need, which is why insurance is another hot career option the WSJ puts at the top of their list. But insurance professionals do more than just sell you policies for your new car; they are involved in maintaining accounts, handling claims, and advising their clients on risk management, financial planning and investment strategies.

Loan Officer Careers
Within the banking careers, there is one group of professionals who we’ll all need to go visit at some point in our life: the loan officer. These men and women use their expertise in finance and credit to determine what the best loan is, who’s eligible, and what the terms should be.

Ready to Get Started?
Earning a finance degree will give you the skills and background you need to enter one of the financial careers described above. To get started, visit this career profiles page for additional career and finance degree information.

Breakthrough Moves of Banking and Finance Industry

Banking and finance industry is facing new spheres with the developing technological trends and fast upgradation of latest IT industry platforms. All these changes are incredible and helping banks to grow towards upward direction, assisting them to support their clients, business houses and SMEs. The banking and finance industry is experiencing the changing roles of physical retail in a multi-channel banking environment on day to day basis. This is the reason they are taking initiatives in research and development, impact of digital industry on banking technology and delving deep on rapid evolving trends in multi-channel distribution. Unquestionably, all these factors integrally building and illustrating future banking trends.

Today, banks have embraced newer tech-trends that are specially designed to cater the widening needs of the business houses and organizations. They are simply following the prevailing trends of attracting and retaining customers and at the same establishing deeply rooted relationships through digital marketing and strategic advertising. Through continuous research and development, banking and financial industry have attempted to remove business barriers that enables better communication. It also fosters better staff deploying for latest, demanding and interactive technologies. Through interactive mediums banks are easily delivering the finest fiscal instruments along with the services and catering for increasing customer expectations.

Today, customers are also demanding hi-tech services that never compromise on service, quality and quantity. All they need is convenient banking services, safe online transactions, accelerated ecommerce, easy home loans, credit cards, personal loans, better payment solutions, easy foreign exchange, and other result-oriented banking solutions. Banks have also successfully catered the needs of individuals as well as business houses by streamlining their business banking processes. They have consequently improved their inherent operational efficiencies and administrative processes through minimized costs and enhanced services to customers. In fact, banks and financial institutions tend to provide tailored transaction banking solutions in order to help business processes.

Indeed, they help business houses in managing payables, receivable and other vital cash management functions. They extend their assistance in practically regulating internal organizational structures through their latest banking technology trends. Through this they can substantially reduce timing differences in payments and much more.

In a nutshell, banks are continuously evolving with the growing IT and media trends. They are keenly observing and examining the convulsing structure of the payments landscape all across the globe. Banking authorities are evenly leveraging innovative technologies in order to dramatically simplify and enhance consumer experiences. They are not only embracing surfacing technological capabilities for facilitating the requirement for convenient payments, but also effort to engage global customers.

Best Careers in Banking and Finance

Banking involves a number of areas, specializations and a wide range of roles. Careers in banking and finance can be a very exciting option but given the vast and varied industry that it is, arriving at a career path and making a choice to follow it, can sometimes be daunting. In addition, the vast number of designations and specializations in each area differ from bank to bank and sometimes there might also be overlaps in certain areas. However it is a given that the number of career opportunities within banking and finance are numerous. For example, some careers might involve client interaction, some might be operational in nature, and some would involve trading and derivatives and so on and so forth.

Large investment banks are usually divided into two main areas: corporate finance or investment banking and sales & marketing with trading. Careers in banking and finance in an investment bank usually involves capital raising, debt and equity, mergers and acquisitions, services involving financial advisories and in some areas activities concerning merchant banking. Within the sales and trading division an employee might be engaged in analysis and research, distribution and brokerage of trading securities amongst other such activities. It is important to know the difference between the numerous functionalities within an investment bank during your quest for the right career path in banking and finance.

If you are a young graduate who has just passed out from a management school or college, you might want to enroll in a specific training program or banking internship that will provide you the valuable opportunity of gaining an understanding of what a financial institution is all about and kinds of opportunities available. These specific programs in different banking departments maybe of varying nature; some programs may offer a cyclical structure in various areas while others might have a specific emphasis on a particular specialization. An internship that offers a cyclical structure can give you the chance of experiencing the various opportunities available in a particular department within the bank. Prior to entering into an internship program or graduate plan, remember to look into the duration of the program. At the end of the day, irrespective of the kind of program you enrol in, a good internship will give you valuable knowledge about the basics of banking or finance before you even start on your career path. In addition to the technical and soft skills needed to succeed in careers in banking and finance, a good training program will also offer you an inside knowledge about the institution’s vision and strategy and a broad introduction of what the company stands for.

Careers in banking and finance are usually well paying, but if you are starting out your career as an intern do not look at the salary, rather look at the reputation of the banking or financial institution you are going to be a part of and the valuable knowledge that you will gain for your future.

Florida Department Of Banking And Finance

The Florida Department of Banking and Finance provides Florida consumers with information and education they need to make informed financial decisions. For example, some of its important services can be listed as follows.

Consumer assistance and answers to general insurance and financial questions are available through our toll-free help line. These help lines are available through regional service offices or website. The Florida Department of Banking and Finance claims that each year, our specialists handle more than 450,000 consumer calls.
The regional services offices are located strategically throughout the state and provide consumers with access to one-on-one guidance regarding insurance and financial issues.
The Florida Department of Banking and Finance offers free community outreach programs that reach thousands of Floridians each year.
The department has also partnered with the Department of Elder Affairs to conduct a special outreach program helping seniors with their insurance concerns. This is known as SHINE, in short. The abbreviation is Serving Health Insurance Needs of Elders.
The Florida Department of Banking and Finance also offers free consumer guides. They do not take a single penny from the consumer for making the guide available to them. The consumer guide has been made available by the Department on a range of topics relevant to today’s insurance and finance markets. If you want to have that consumer guide, the best way is to order or review it online. What is more, you can also get the printout of the online consumers guide.

Future Job Outlook For Investment Banking and Finance Degrees

The world of banking and investment banking was rocked in the past few years with the downturn of the economy as well as mass fraud and bad investing throughout the finance world from giant Ponzi schemes to exotic mortgages.

The outlook on this industry is overall strong as the salaries as I will note later are strong but also the amount of jobs stays fairly large considering the massive layoffs just around two years ago. The amount of jobs may be slightly less but seems to be coming back at a pace about the same as most other strong industries. The type of jobs are also shifting more away from who can pick good stocks and investments to more programming and algorithm based jobs. This is because of the massive amounts of high frequency trading and less large-scale investments, mergers, and acquisitions.

The salaries for those in investment banking are still doing well with many starting jobs or entry-level jobs at large firms being slightly less than normal but the regular and associate level jobs are actually being higher paid than before the economic downturn according to most analysts estimates. This is good news for those going into the field that is known for big salaries because if this economic downturn and regulation after couldn’t hurt the salaries than nothing seems to be able to.

The changing opportunities is something that should be talked about for those who are wanting to be in investment banking. In recent years major companies have started venture capital and investment units just to invest in emerging technology and good entrepreneurs. Google is one of those companies along with other companies like Disney who invest in companies that fit their profile and they can either acquire for a cheaper price later or simply make a return on that investment. Also if you are wanting a career in investment banking a knowledge of how algorithms and computer coding works is a major plus since large departments of investment banks and stock trading firms need someone who can merge the two worlds when needed.

So overall the investment banking industry has a strong outlook with jobs in the industry recovering and the salaries higher than ever. Being qualified for these jobs and finding the connections to be able to get the highest paying jobs at the top firms is no easy task. Investment bankers and others in finance have a strong outlook as banking and finance is something as old as any other industry.

Focus On The Walk Not The Talk

Leading by example is precisely why leaders focus on always doing exactly what they say. Your actions should be aligned with what you are saying. Although, it’s tough to practice what you preach; you need to model the change in behavior you want to see. The core of focusing on the walk not the talk is to be the change you want to see in others.

In other words, you need to assess your own behavior first before communicating these changes to your fellow because changing habitual practices isn’t as easy as simply making a choice. It’s very important for a leader to be consistent with their actions. The single most essential component to effective management is trust. Everything will go out the window when trust is lost. And in the eyes of most people, a lie is a lie.

Too often leaders want to run and/or hide from their mistakes. Don’t make excuses, but be clear that you recognize where you went wrong. Being sorry isn’t admission of defeat. It revisits the human aspect that people screw up for a superfluity of reasons. You are not an exemption. It is a great start to admit your mistakes and apologize. However, be clear in asking for support in moving forward. If you choose to ignore it than acknowledge it, don’t be flabbergasted if things don’t get better.

Show people what the organizational values mean through your behaviors. People learn by observing their leaders. You must focus on your walk more than your talk. Bringing values to life is a behavioral issue because you are a role model for your people. Your values can be seen in terms of your behavior, where you go, what you say, how you spend your time and how you deal with problems and crises.

Actions speak louder than words. Everyone has lapses. Make sure that you acknowledge whenever you find yourself off track and in breach of values. When problems catch you off-balance, your immediate reaction might be contrary to your personal or organizational values system. Remember, subordinates follow your lead.

As a leader, you need to help your people succeed. You must smooth the way for them because there are always impediments and obstacles to achieving goals. You must identify these barriers, remove or lessen them, or show your members how to deal with those that can’t be removed.

People desire for recognition. The main reason why people leave their jobs is that they don’t feel appreciated. Recognizing a worthwhile behavior is the single best way to ensure organizational commitment. Although none of us would work for less money than we feel is fair, money alone isn’t enough for encouraging long-term high performance. People cannot be motivated when they feel that what they are asked to do is worthless or contrary to their fundamental values.

Most of us want to feel that we are valued as people, not just mere staff. We want to be respected for who we are, not simply for what we do. We also respond positively to be with others who share similar beliefs and with whom we can build relationships. That’s the very reason why we need to focus on the walk not the talk.