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11 types of banking degrees and certificates
It’s crucial that you select a banking degree that matches your career objectives. Here are some of the top degrees to take into account for careers in banking:
1. Associate degree in banking or finance
Learning the fundamentals of this industry can be facilitated by obtaining an associate’s degree in banking or finance. This degree frequently provides a foundation and practical knowledge by covering the fundamentals of banking, finance, or accounting. Before pursuing a bachelor’s degree, obtaining an associate degree may help you focus on your areas of interest, or this degree may broaden your current career options. This degree might facilitate your employment as a junior loan officer or bank teller.
2. Bachelors degree in economics
You may be able to comprehend economic trends and make predictions with the aid of a bachelor’s degree in economics. Wage levels, consumer confidence, unemployment rates, inflation rates, and other trends are among them. To help them create policy and choose their lending practices, banks rely on economists to offer insight on these trends.
3. Bachelors degree in finance
Anyone wishing to work in banking is typically required to have a bachelor’s degree in finance. This degree offers knowledge on subjects like tax regulations, monetary policies, financial obligations, lending standards, and the function of money in the banking and global economy. Having a bachelor’s degree in finance may give you more freedom in selecting the type of financial career that is right for you.
4. Bachelors degree in business
A strong foundation for all business practices is provided by a business bachelor’s degree. The majority of degree programs include courses in marketing, management, accounting, and finance. This gives you a thorough understanding of a variety of subjects and enables you to choose from a variety of viable career paths. Some programs let you concentrate to hone your abilities in a specific field.
5. Bachelors degree in accounting
Your understanding of how to apply accounting principles in the challenging environment of a bank is improved by having a bachelor’s degree in accounting. Accountants frequently keep track of assets, produce audits of bank statements, and maintain balance sheets and income statements. Some people decide to advance their careers by becoming Certified Public Accountants, or CPAs, in order to handle more complicated tax practices.
6. Bachelors degree in information technology
To protect customer and financial information, banking must perform a critical function known as cybersecurity. An information technology bachelor’s degree could teach you how to spot and stop potential data breaches or cyberattacks. A career in accounting that involves data auditing, using a variety of computers, and working with databases is another area where having a degree in information technology would be useful.
7. Bachelors degree in business administration
A foundational knowledge of business procedures is provided by a bachelor’s degree in business administration. To better prepare you for a career in banking or a more advanced degree in the field, some degree programs also give you the option to complete a banking concentration. Topics like commercial bank management and financial management may be included in this concentration.
8. Bachelors degree in law
A different path to obtaining a degree in banking is to earn a bachelor’s in law. This degree might enable you to practice banking law as an attorney. Lawyers help banks comply with a number of laws governing their lending practices, investments, and handling of significant transactions.
9. Masters degree
A graduate degree enables you to more thoroughly research a particular subject in banking or finance. While some people might opt to finish a focused masters program, others might prefer to obtain an MBA. Either type of degree may expand your career options.
10. Doctorate degree
Many banking careers do not require a doctorate degree. However, if you are interested in conducting high-level research, you might decide to pursue a doctorate degree in a field like banking or financial research. This could involve conducting research at a financial or academic institution, developing and carrying out studies, analyzing data, and conducting financial or market research.
11. Certificates
Some banking professionals decide to obtain a certificate to show off their expertise in a specific field. Any time during the course of your baking career, you can obtain one of these certifications. Some common certificates banking professionals earn include:
Why get a banking degree?
With a degree in banking, you can learn a variety of skills that you can apply to the real world in a variety of meaningful ways. People with these degrees actively engage in substantial financial activity in the domestic and global economies. Additionally, the banking and financial sectors are constantly expanding and changing, giving you numerous new opportunities.
Some other benefits of getting a degree in banking include:
Job demand
Because many people are constantly interested in money, careers in banking frequently offer job security. People want to know how to save money and make the most of their investments if the economy is struggling. People want to know the best ways to spend and invest their money if the economy is doing well. They often turn to people with banking degrees for guidance.
Variety of job opportunities
Banking degrees allow for a variety of career paths. Some degrees also cover a variety of topics to give you a deeper understanding of various subjects, assist you in choosing your area of concentration, and enable you to switch your specialization if you so choose. People with degrees in banking can work in a variety of settings, including banks, investment firms, private businesses, law firms, research organizations, and more.
Ability to solve real-world problems
You can work with investments, loans, and the stock market if you have a degree in banking. Your work might assist a family in obtaining the loan they require to buy their first home. By influencing crucial public policies, research completed with a banking degree, such as in economics, may also effect change.
Tips for choosing a banking career
The following advice will assist you in selecting a career with your banking degree:
Consider how you prefer to work
Working with the public or a variety of clients is a part of some banking careers, but independent work is also a part of other careers. If you enjoy working alone, you might want to consider becoming an auditor. However, if you like to collaborate with others, you might think about using loans and investments.
Think about what you enjoy doing
Most banking careers require you to have strong math skills. However, the ideal banking career for you may depend on how much you enjoy using those skills. For instance, you might think about becoming an economist if you enjoy gathering information and analyzing trends. You might think about working as an accountant or auditor if you like using formulas and making sure all assets balance.
Evaluate how much time you want to spend in school
Many banking careers require a bachelors degree. But some businesses might look for people with graduate degrees for high-ranking positions. Additionally, some professions, like that of an accountant or financial planner, require the completion of exams or the earning of certifications.
It’s crucial to choose a degree program that best matches your current objectives. Consider pursuing an associate degree if you like working with numbers but aren’t sure what field you want to work in yet. Consider a bachelor’s degree if you are interested in the financial sector but aren’t sure what career path you want to follow just yet. Consider a master’s or, in some cases, a doctorate degree if you have a specific career in mind or want to advance your knowledge.
Consider what type of schedule you want
Careers in banking involve a variety of work schedules. Most jobs have a typical Monday through Friday schedule, and some banks may require Saturday shifts of just a few hours. While many of these jobs follow a 9 to 5 schedule or something similar, some high-powered banking positions might necessitate working longer hours. However, in order to make up for the long hours, these positions frequently pay more.
Determine your salary goals
When choosing a career in banking, take your financial objectives and ideal salary into account. Due to the wide range of responsibilities in banking careers, salaries can also vary widely. Salary may vary depending on the position’s level, educational requirements, daily duties, and experience.
Jobs for bankers
There are numerous options for you to think about if you’re interested in pursuing a career in banking or another area of finance. Heres a list of 10 jobs for bankers:
Banking Degree Requirement, Work in a Bank, Accounting Degree, Finance Degree, Economics Degree
FAQ
What is the best degree for banking?
The most likely options are finance, accounting, and business, but investment companies and banks might also be pleased to see degrees in economics, mathematics, or engineering.
What type of degree is banking?
For those wishing to work in banking, a bachelor’s degree in finance is frequently obtained. This degree offers knowledge on subjects like tax regulations, monetary policies, financial obligations, lending standards, and the function of money in the banking and global economy.
How long does it take to get a banking degree?
A four-year banking program typically has 120–128 credits and takes four years to complete. You may graduate with a Bachelor of Science, Bachelor of Business Administration, or Bachelor of Science in Business Administration with a major in banking or banking and finance, depending on the policies and requirements of your school.
What jobs can you get with a banking degree?
- Banker.
- Banking consultant.
- Accountant.
- Investment banker.
- Investment analyst.
- Business development manager.
- Business analyst.
- Financial adviser.
