Find out everything you need to know about pursuing a career in the banking sector.
Soon after being sworn in, President Muhammadu Buhari, announced that the future creation of jobs lies in three sectors. One of them is the financial services. As a jobseeker, what this simply means is that you couldn’t have chosen a better time to pursue a career in banking.
But before you jump on the job search, make sure you’re clued up about the reality of working in the profession:
To start you off on the right foot, obtain a qualification…
Depending on the type of banker you want to become, a diploma may earn you a spot in a bank. However, if you want to follow a career in commercial and investment banking, you’ll at least have to graduate with finance or a business administration bachelor’s degree.
With your banking education in hand, you have a wealth of diversity that your banking career will be able to incorporate. For instance, Nigeria’s major banks, including the First Bank of Nigeria, the Zenith Bank Nigeria, the United Bank for Africa, the Access Bank Nigeria and the Guaranty Trust Bank employ specialists in law, taxation, accountancy, HR, community investment as well as economists, analysts and management reporting specialists. Of course, branch managers, specialist advisers, customer relations and cashiers are also required.
Gain some experience before deciding on a career path…
It’s important to ensure that before you make a final career decision, you know what you’re setting your future up for. Think about the possibility of completing an internship in a Nigerian bank. It will provide you with the opportunity to learn as much as you can about the field. You’ll also find that many banks and finance companies, such as Standard Chartered, Grant Thornton and The World Bank have graduate programmes for individuals interested in future careers within the industry.
Your skills will be shared across the sector…
No matter what career path you decide, to carve a successful career in banking you’ll have to be as patient as the hours. Your resilience, empathy, rationality and morality will also play a big part in determining how far you go.
Should you decide to change career paths, a good level of competency will afford you the opportunity to branch into other areas, such as IT and sales.
You can look forward to great career progression…
You’ll never have to worry about a career cul-de-sac. There are a plethora of growth opportunities, and you’ll always be encouraged to take responsibility, especially as your chances of promotion will be based on your performance.
Your job will in most cases start and run over the conventional 9-5. Therefore, the highly pressurized environment and the long hours will require some sort of flexibility on your part. And if you can handle the heat, the rewards that come with the job will more than compensate your time.
And equally great income potential and benefits
Graduates in investment banking can look forward to some of the best paid jobs. For instance, an investment banking graduate can expect a median salary of N4m. As you move your way up the corporate ladder to top management positions your income potential will also increase, and if you work hard enough, you might even join the ranks of Nigeria’s most influential and highest paid banking CEOs.
Think Sola David-Borha, CEO of Stanbic IBTC, who as the managing director of the holdings company has an estimate worth of N177m.
Other highly influential bankers include:
Feel ready to kickstart your career in banking? Browse our finance jobs and find your perfect position today!