A person interested in working as a business banker must be able to meet the banking needs of the business community. A bachelor’s degree in finance, business, or marketing is required for most entry-level business banking positions. For higher-level executive positions, a master’s degree in business administration or finance is frequently required. Although becoming a business banker is a highly competitive path, it can be a lucrative career for the few dedicated individuals who can put up with a demanding work schedule.
Business bankers are in charge of assisting businesses with their banking needs. This could entail working in the banking industry’s transactional side, such as assisting businesses in obtaining small business loans, lines of credit, and a variety of deposit accounts. Business banker duties will include assisting clients in raising equity capital and making strategic investments that will help the client achieve their goals if they choose to work in the investment side of the industry.
Individuals interested in working as a business banker should be aware that many of their clients will require services that the banker must be licensed to provide. Anyone interested in becoming a business banker will eventually need to obtain securities and insurance licenses in order to fully serve their clients’ needs. Many business bankers in the United States choose to obtain a FINRA Series 7 license, which enables them to act as a general securities representative for the solicitation, purchase, and sale of any security product, including corporate stocks.
The commercial banking industry is vast, and anyone interested in becoming a business banker will have many options for where to begin their career. Large corporations, small businesses, and government agencies are among the clients served by these bankers. Individuals with a strong understanding of fundamental business principles, excellent oral and written communication skills, and a strong work ethic will often have the best chance of succeeding in this field.
A bachelor’s degree is required for those who want to work as a business banker, but in such a competitive field, a graduate degree should be seriously considered. Security licenses and certifications will also help aspiring business bankers position themselves favorably, and may be the deciding factor in a job offer. Individuals with educational qualifications may find it easier to break into this field, but it will be their tenacity and work ethic that will ultimately determine their success.