If you’re looking for a new career, you may want to consider a job in banking. There’s a wide range of bank jobs, each with unique responsibilities, qualifications, and hours. Plus, with plenty of variety within the industry, a career in banking gives you flexibility in terms of where and how you work.

If you have an interest in finance and are detail-oriented, banking may be a good career path for you. Learn more about the pros and cons of banking jobs, plus six of the best jobs in banking and what they entail.

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A banking job has a lot to offer, but there may be downsides too. If you’re thinking about a career in banking, weigh the following pros and cons.

• Wide range of opportunities: There are many different jobs within the banking industry, from accountants and tellers to software developers and investment sales agents. Some roles involve working directly with customers, while others work internally. With the variety of occupations and job types, there are roles for individuals of all education levels and interests.

• Competitive pay: Careers in banking can be lucrative. In May 2023 (the most recent data available), the median annual wage for those working in business and financial operations — positions that overlap significantly with banking — was $79,050, according to the Bureau of Labor Statistics. This is more than $30,000 higher than the overall median wage of $48,060.

• Industry growth: This industry is also expected to grow faster than average during the next decade, providing roughly 963,500 job openings each year.

• Job stability: Banking jobs can provide stability and job security. While job security may vary across the industry, the skills involved in banking careers are typically in high demand.

• High pressure: The pressure of managing customers’ financial matters can be stressful. Many banking jobs require a high level of attention to detail due to the importance of handling financial transactions with accuracy.

• Long hours: Depending on the job, careers in banking can involve long hours. For example, investment bankers have a reputation for working 60- to 80-hour weeks. Of course, not all banking jobs have such grueling schedules.

• Competition: High pressure and long hours are linked to a certain degree of competition around some banking jobs. This may lead to a negative or even toxic culture within certain institutions or banking roles.

• May need certifications and advanced degrees: While some banking jobs are entry-level, some senior positions and higher-paying roles require additional education. This can involve taking exams to get the necessary certifications or going back to school for an advanced degree.

There are a wide variety of banking jobs, with varying salaries, responsibilities, education requirements, and hours. If you’re interested in a career in banking, learn about some of the best banking jobs below.

Note that salary data is based on 2023 figures provided by the BLS.

While bank tellers don’t earn as much as other roles in banking, this position has fewer educational requirements and offers a great entry point into the banking industry.

A bank teller typically works at a bank branch, processing transactions for customers. Responsibilities may include answering customers’ questions, exchanging currencies, cashing checks, and more. Most tellers work full-time during regular banking hours but may work occasional extended or weekend hours.

If you’re interested in becoming a teller, keep the following in mind: While there should be about 27,300 teller openings each year over the next decade, teller employment is projected to decline by 15% from 2023 to 2033.

A career as a loan officer not only pays well but also involves meaningful work and plentiful networking opportunities. Those interested in helping a variety of people meet major financial milestones may want to consider this career.

Loan officers evaluate and approve applications for different types of loans, including personal loans, auto loans, and business loans. Their responsibilities include reaching out to potential borrowers, educating clients about various types of loans, verifying applicants’ financial information, reviewing loan agreements, and more.

While consumer loan officers spend most of their time in the office, commercial and mortgage loan officers may travel to meet clients. Most loan officers work full-time, some exceeding 40 hours of work per week.

Not only do financial managers earn highly competitive salaries, but also the job outlook is positive. Job growth in this field is predicted to grow by 17% from 2023 to 2033, which is much faster than average.

Financial managers work at banks, insurance companies, and investment firms developing long-term plans for the organization. Specific responsibilities include creating financial statements and forecasts, supervising reporting and budgeting, analyzing market trends, and advising on the company’s financial decisions. They often work alongside company executives to help the organization maximize profits. Financial managers tend to work full-time and may work more than 40 hours per week.

Securities, commodities, and financial services sales agents

Being a securities, commodities, or financial services sales agent may appeal to those craving a fast-paced job — and those seeking a big paycheck. Some roles within this field come with extremely high pay. For example, an investment banker may make upwards of half a million dollars per year.

In a nutshell, securities, commodities, and financial services sales agents bring buyers and sellers together to make sales and trades. There are several types of sales agents, including brokers, investment bankers, and financial services sales agents. Sales agents are responsible for educating prospective clients, advising about the purchase or sale of specific securities, monitoring markets, and analyzing company finances.

Financial sales agents can expect a fast-paced work environment and the need to put in more than full-time hours. It’s not uncommon for these individuals to work outside of regular working hours since their clients often have full-time jobs.

Accountants enjoy stable, relatively low-stress careers with attractive salaries. The job may appeal to those with an eye for detail and a knack for numbers.

Accountants and auditors create and review financial records for accuracy. They help identify financial risks, analyze financial efficiency, and make sure taxes are paid. Specific tasks include preparing tax returns, organizing financial records, and making operational suggestions.

Accountants and auditors might work at the office, from home, or at clients’ offices, and most work full-time. It’s not uncommon for accountants and auditors to work extra hours during busy times of the year, particularly during tax season.

Software developers aren’t limited to working for a bank, but with the rise of online financial products and services, their skills are increasingly valuable within this industry. Software developers also earn a decent salary and can expect plentiful job opportunities within the next decade.

Software developers design and create computer programs to help users complete certain tasks. This includes analyzing users’ needs, developing new software, creating models, and making sure programs are running normally.

Roughly 10% of all software developers work in the finance and insurance industry, and most work full-time. Similar to financial managers, the job outlook for software developers is expected to grow much faster than average — about 17% — from 2023 to 2033.

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