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Why you will love Banking and Finance

by Charles Nwabueze
Reading Time: 5 minutes

Banking and Finance explore the dynamic, fast-paced world of money, shares, credit and investments. It is also one of the fastest growing sectors not only in the UK but globally – London serves as one of the world’s biggest financial centres. Finance is an essential part of the economy as it provides liquidity in terms of money or assets required for individuals and businesses to invest in the future. 

“Money is the answer for everything”
                Ecclesiastes 10:19

Despite a major global pandemic, this sector has not stopped short but continues to grow at a decent rate. With newer innovations in finance and banking technologies, there has been a significant rise in innovative products and services, paving the way for the sector’s promising future. Consequently, there has been an increase in the demand-supply metric, creating more job opportunities for graduates and professionals alike. If you are yet to pick your degree, are a fresh graduate about to start your career or are a career changer here are some great reasons why you’ll enjoy a career in banking and finance   


Generally, careers in banking and finance are widely respected and admired because of the reputation or perspective of great quality, success and social influence attached to a role in the sector. This prestige may be born from the end product of a banking and finance professional: immense contribution to the economy. Financial institutions and by extension financial professionals are the significant cogs – and will always be the significant cogs – that drive the globe’s economy. Whether it is through growing a company, managing a company, dealing with day-to-day financial operations, handling short and long-term business goals, or raising capital for investment into various businesses or securities, financial professionals one way or the other ensure that the economy grows. 

Conversely, if they don’t perform their role properly, the economy suffers. You can tell if a country’s economy will do well by looking at the banking and financial industry of the country. If you look through all the great financial crises that have occurred throughout history, most of the blame can be laid on professionals in this sector, such as the 2008 financial crisis.

Compensation Packages 

It is no news that careers in the banking and finance sector are well-known for their lucrative pay packages. As a result of pursuing a career in this sector, you will earn more than in several other industries. For example, professionals in the investment banking industry are known for the lifestyle of working hard and playing hard. The average starting compensation package for a graduate in investment banking is £81,333 – more than three times the average graduate salary in the UK. If you think this is incredible consider other sectors in banking and finance that offer more than the above figures – private equity comes to mind. The more experience you gather in banking and finance the more you will earn.

Top financial firms will also offer a wide range of health and welfare programs depending on your office location. If you work in any of the top financial institutions your benefits will include subsidized travel, food and gym membership, medical, dental, short-term disability, long-term disability, life, accidental death, labour accident and business travel accident insurance. To a certain extent, the compensation packages are the reason why professionals in this sector work exceedingly long hours during the week and weekends.   

Access to the Best Professional Training & Development Opportunities

Working in established banks and businesses such as Evercore, Goldman Sachs, Morgan Stanley, EY, KPMG, JP Morgan and Credit Suisse allows you to benefit from phenomenal training, development opportunities and senior-banker/manager exposure to interns and junior professionals. At the same time, if you’re entering the banking sector from the lowest point of entry you will be given a corporate on-boarding process, regulatory training and exams if needed, and a technical training programme that usually lasts two to four weeks when you commence work. Furthermore, candidates in the banking and finance sector are known to be able to obtain professional qualifications as they advance in their careers – sometimes such qualifications are paid for by the employer.

Job security and Steady Career & Individual Growth 

First things first, there will always be financial jobs because banks and financial institutions are a critical cog of the financial ecosystem. The entire ecosystem of business, finance, and technology is so dynamic that collectively, they impact the global economy every day. Because of the way the banking and finance ecosystem is structured it challenges its participants to push beyond their boundaries, thereby instigating growth. A banking career goes beyond the transactional benefits, it helps you not only gain work experience but also grow as an individual. For example, we have already said that the banking sector is famous for its long hours, the only people that survive and keep gathering experience to become presidents and managers are those who can stay with the tide. Consequently, if you survive the odious hours in the finance industry that means you have durability and you can pretty much survive anything thrown at you.

Endless Career Options and Exit Options

Banking and finance professionals are spoilt with a rich choice of work in a variety of industries and positions such as insurance, corporate finance, investment banking, commercial banking, broking, consulting and funds management. You may work with corporates, in financial markets or with the government. Because of the prestige associated with this sector, if you work with any of the top financial institutions and should you seek to change careers internally or externally your CV will be looked upon favourably by employers. If you want a different finance role from the one you are in you will easily get one. For example, you could go from investment banker to private equity; you could smoothly transition from private equity to venture capital, and you could go from investment banking to corporate banking. 

If you want a clean break to a different sector entirely, that can also be arranged. For example, you could change your career from an investment banker to a consultant easily; a banker can also leave his/her banking job to start up his/her own business.

Travel & Working Abroad 

If you love travelling then a job in banking and finance will suit you because a lot of banking and finance professionals travel frequently. Travel is done by these professionals to corporate headquarters, banking and investment seminars, training, workshops and sometimes internationally for their companies. In some financial careers, you may find yourself travelling to meet with clients frequently. In all cases, your travel expenses and accommodation in the new location will be sorted by your employer, if you’re working for a top financial institution.

Charles is a writer, practising lawyer and personal trainer who loves learning and developing himself. He graduated from Middlesex University, London with eight first-class grades in the second and third years of his law degree, and received a postgraduate offer from Cambridge University. He loves strength training, boxing and encouraging people to succeed in their pursuits (legal ones)


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