Q:

What are some typical banking career opportunities?

A:

Quick Answer

Typical banking career opportunities include bank teller, commercial and consumer loans officer and mortgage loan officer. A bank teller position typically requires a high school diploma, but loan officer jobs require at least a bachelor's degree and mortgage loan officers need a license.

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What are some typical banking career opportunities?
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Full Answer

Bank tellers process routine customer transactions, such as deposits and withdrawals, check cashing and loan payments. They normally receive a month of on-the-job training and typically undergo a background check before getting hired. Many work full-time, but according to the Bureau of Labor Statistics, one in three worked part-time in 2012. Although job growth in this field is expected to slow down as mobile and Internet banking increase in popularity, employment prospects remain excellent as turnover in this entry-level position is high. Average annual salary was $24,490 in 2012.

Commercial and consumer loans officers process personal and business loan applications, while mortgage loan officers process mortgage applications. They analyze a borrower's financial information and ability to pay and decide whether the loan or mortgage application is approved or denied. While both kinds of loans officers usually work full-time, many mortgage loan officers work long hours and commonly travel to make client visits. Jobs are expected to grow at 8 percent through to 2022 as the economy improves. Average annual salary was $59,820 in 2012, and some loans officers get paid a commission.

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