Anyone work in banking? Need advise please!

climbingeverest

Hi there! Like many newbies, I'm a long time lurker and a first time poster.

I got a job with a large bank 3 months ago. I couldn't believe my luck when they offered me the job (since I was pretty sure I had messed up the interview!) I'm so happy there. I work as a cashier. I never pictured myself working for a bank but now that I do, I'm really happy with my job and the environment that I work in.

Before getting a job with the bank, I used to work a a barista in a coffee shop for three years. During my last year, I was promoted to an assistant manager. I would have happily stayed there however there really wasn't any more room for progression. It was a small chain and my manager wasn't about to give up his job any time soon which left me stuck in my role.

Anyway. I know it's possible to progress in banking and I'm just wondering what I can do to work my way up and what sort of roles I can think about doing within the bank.

I have a degree in English Language. However, I don't think I was given a job as a cashier for my degree alone. Two of my workmates said they only have A-Levels.

Would I need to get a degree in something like accounting or something to move up within the bank or would my English degree suffice? And if anyone can suggest realistic roles for me to progress on to, that would be great!!

Thanks!

noelphobic

I wouldn't suggest studying for another undergraduate degree. If you did want to follow this route then a Masters would make more sense. However, I don't think you need any further academic quaifications in order to get promotions. I used to work for a bank and don't think many of the managers had degrees.

If you did want to go into accountancy there are courses below degree level but just as useful.

~Beanie~

I haven't worked in banking for a while but I definitely don't think that you need a degree in accounting!

There are loads of different roles you can progress to, depending on what area you are interested in. Do you want to stay in a branch or do you live near a large city or area where they have Customer Service Centres, Head Offices or Commerical Banking Centres etc?

agrinnall

I'm not sure that there is a great deal of opportunity for progressing very far within a branch these days - in the past branch managers may well have started off on the counter and worked their way up, but now they are likely to have come from a graduate training scheme.

I'd suggest a couple of things: find out whether you might be eligible to apply internally for the bank's graduate trainee scheme; and watch out for internal vacancies in back office locations that you might be suitable for (easiest if there is an office near you, otherwise you may have to consider relocating).

I would expect banks to still provide or fund training relevant to particular jobs, even after the crash, so don't spend your own money on training that may end up not being much help until you find out if you can get something for free.

InsideInsurance

climbingeverest wrote: »

Anyway. I know it's possible to progress in banking and I'm just wondering what I can do to work my way up and what sort of roles I can think about doing within the bank.

I have a degree in English Language. However, I don't think I was given a job as a cashier for my degree alone. Two of my workmates said they only have A-Levels.

Would I need to get a degree in something like accounting or something to move up within the bank or would my English degree suffice? And if anyone can suggest realistic roles for me to progress on to, that would be great!!

Very few things require a degree but vocational qualifications or post grad studies may increase your chances of getting things. In the good old days you'd get on the job training to get entry level jobs and then funding for the training to go up the chain.

Ultimately banks tend to have everything within them, sales, customer service, operations, marketing, audit, compliance, risk, IT, change management, facilities, finance etc. Some are going to be more focused into head office or regional offices (where they still exist) and others are more branch network jobs.

With a non-vocational degree you can ultimately do any of them and the challenge is always getting noticed/ the opportunity to try them.

I would argue there is an element of luck but there is a big part of simply putting yourself out there to be noticed. Volunteer for any extra duties, any engagement type sessions with regional or higher staff and then actually talk in them and dont be a the silent one in the corner.

My route out of the call centre was by applying for the graduate scheme but I have since pulled others out of entry level jobs to assist me, initially part time and on top of their day job but its given them the exposure and skills to be able to apply for jobs.

I maintain my normal stance though. Do well in a company and use it to progress your grade/skills allowing your salary to suffer. Switch companies to get your salary up but expect most jobs to be fairly sideways steps.

Denning.

Depending who you work for you should have access to funds for learning. You need to be proactive and push for it.

Cashier doesnt really need anything above GCSEs provides they are competent. Degrees just open doors not much else. Vocational training is big in finance.

I agree that progression within a company often comes with below market salaries. You build up for a few years and then jump ship.or.contract, which is crazy money.

climbingeverest

noelphobic wrote: »

I wouldn't suggest studying for another undergraduate degree. If you did want to follow this route then a Masters would make more sense. However, I don't think you need any further academic quaifications in order to get promotions. I used to work for a bank and don't think many of the managers had degrees.

If you did want to go into accountancy there are courses below degree level but just as useful.

Great, thank you! To be honest, it's a relief to not have to do another degree. I don't mind doing shorter courses though so I will look into a Masters or something similar.

climbingeverest

~Beanie~ wrote: »

I haven't worked in banking for a while but I definitely don't think that you need a degree in accounting!

There are loads of different roles you can progress to, depending on what area you are interested in. Do you want to stay in a branch or do you live near a large city or area where they have Customer Service Centres, Head Offices or Commerical Banking Centres etc?

Actually, I wanted to kind of move away from retail banking and work 'behind the scenes' if you know what I mean? From reading up on it, commercial banking interests me. I live in Birmingham at the moment but if a particular role's salary allowed me to, I'd quite happily move to London.

climbingeverest

agrinnall wrote: »

I'm not sure that there is a great deal of opportunity for progressing very far within a branch these days - in the past branch managers may well have started off on the counter and worked their way up, but now they are likely to have come from a graduate training scheme.

I'd suggest a couple of things: find out whether you might be eligible to apply internally for the bank's graduate trainee scheme; and watch out for internal vacancies in back office locations that you might be suitable for (easiest if there is an office near you, otherwise you may have to consider relocating).

I would expect banks to still provide or fund training relevant to particular jobs, even after the crash, so don't spend your own money on training that may end up not being much help until you find out if you can get something for free.

Ah, I'm sorry but I should have mentioned this in my actual post! I'd like to move away from retail banking. Just wondering what other roles are that I could possibly progress to away from retail banking. You're right, aside from progressing to manager, there isn't much else to do in branches.

I'm definitely going to try and find out if the bank has a graduate scheme and if I'm eligible for it. Especially since I graduated three years ago! Also, I'm checking out the intranet which advertises internal vacancies weekly.

As for the funding I'll keep that in mind! For the first time in my life, I can actually afford to fund myself for courses however, I'll definitely try and get my bank to pay for me if I can. No use using your own money when you can get something for free!

Thank you!

climbingeverest

InsideInsurance wrote: »

Very few things require a degree but vocational qualifications or post grad studies may increase your chances of getting things. In the good old days you'd get on the job training to get entry level jobs and then funding for the training to go up the chain.

Ultimately banks tend to have everything within them, sales, customer service, operations, marketing, audit, compliance, risk, IT, change management, facilities, finance etc. Some are going to be more focused into head office or regional offices (where they still exist) and others are more branch network jobs.

With a non-vocational degree you can ultimately do any of them and the challenge is always getting noticed/ the opportunity to try them.

I would argue there is an element of luck but there is a big part of simply putting yourself out there to be noticed. Volunteer for any extra duties, any engagement type sessions with regional or higher staff and then actually talk in them and dont be a the silent one in the corner.

My route out of the call centre was by applying for the graduate scheme but I have since pulled others out of entry level jobs to assist me, initially part time and on top of their day job but its given them the exposure and skills to be able to apply for jobs.

I maintain my normal stance though. Do well in a company and use it to progress your grade/skills allowing your salary to suffer. Switch companies to get your salary up but expect most jobs to be fairly sideways steps.

To be honest I wasn't so hot on doing another degree (but of course, I would have done if I HAD to) however, I'm more than willing to go for vocational qualifications, ect if needed. Whatever it takes for me to move forward.

Like I said, I'm quite happy where I am at the moment but eventually, I'd like to get away from retail banking and move to commercial banking or even work in the regional offices.

Fortunately, I'm quite outgoing and I've been doing every single thing I can think of for getting a little more recognition. This includes running errands for my manager and sitting in on a few meetings.

The bank I work for has a graduate scheme. I just hope I'm still eligible even though I graduated three years ago. But I'll never know if I don't ask.

Thank you for the tips. I'll try and action as much as I can.

climbingeverest

Denning. wrote: »

Depending who you work for you should have access to funds for learning. You need to be proactive and push for it.

Cashier doesnt really need anything above GCSEs provides they are competent. Degrees just open doors not much else. Vocational training is big in finance.

I agree that progression within a company often comes with below market salaries. You build up for a few years and then jump ship.or.contract, which is crazy money.

I'm open to vocational training, anything really, that'll help me move forward. I'll ask around in the bank and see whats on offer.

I don't mind if my salary isn't all that yet. I know it takes time to work your way off. Nothing ever worth having is easy and I'm more than prepared to work for it. I just needed a few pointers on where/how to start, which you all have given me. So thank you!