Banking is one of the fastest growing careers in the United States, and students who enter into this career often start out by obtaining a bachelor’s in banking. A bachelor of banking and finance is suitable for those who enjoy working with numbers, analyzing difficult problems, coming up with efficient solutions, cultivating strong customer relationships, managing finances, and working with colleagues. A banking program will cover an array of essential skills, such as risk management, capital raising strategies, securities markets, estate planning, banking technology, human resources, and leadership. Banking students must excel at math and interpersonal communications, two key attributes needed for the industry.
Why a Bachelor’s Degree?
It is strongly encouraged that those who want to work in the banking industry first pursue a bachelor’s in banking. According to the U.S. Bureau of Labor Statistics (BLS), bankers and financial advisors are encouraged to have at least an undergraduate degree. While studying for their degrees, students will cultivate an understanding of the modern banking industry, which helps them become informed and dependable financial professionals. The BLS also reports that bankers need to possess analytical skills, interpersonal skills, math skills, and speaking skills to excel in their careers.
Inside a Banking Bachelor’s Degree Program
A bachelor’s in banking is usually earned within four years, although some online programs may be completed in a shorter span of time. Some of the common courses featured in an undergraduate banking program include personal finance, money and banking, introduction to financial institutions, and banking operations. All the assignments, quizzes, projects, and exams featured in bachelor’s banking programs are designed to enhance one’s knowledge of the U.S. economy and its relation to financial institutions.
An online banking bachelor’s should consist of coursework synonymous with traditional banking degrees, but provides the student with added flexibility in terms of when and where coursework can be accessed. In fact, in an online program, students are allowed to complete assignments and exams according to their own schedules; therefore, many individuals who desire flexibility in their course studies tend to enroll in online banking programs.
What’s Next for Banking Bachelor Degree Holders?
A bachelor’s in banking prepares students for a number of entry and mid-level banking positions. According to the U.S. Bureau of Labor Statistics (BLS), the average annual wage for personal financial advisors is listed at $108,090. For those who value job stability, the good news is that the BLS reports that total jobs for advisors are expected to grow by 30% from 2014 to 2024, more than four times the national average.
Many students who enter into banking desire to move up the professional ladder. Although a bachelor’s is a great way to get started in the banking industry, some students choose to complete a master’s in banking as well. The banking master’s will help students achieve a deeper understanding of the U.S. economy and the banking industry as a whole.