The banking industry might appeal to people who are interested in personal and business finance. Read on to learn more about bachelor's degree options in this field, as well as career outlook and salary info.
Can I Earn a Bachelor's Degree in Banking?
A degree in banking is usually found as a concentration within a business administration degree. You might consider a general business degree or a degree in finance. Most programs are inter-related, and broadening the scope of your curriculum can often increase your job chances.
Most business degree programs require that you take classes in banking-related subjects like organizational management or the principles of marketing. You can also study banking as a part of an economics degree.
There are colleges where you can take courses related to specific banking areas, like risk management, estate planning or real estate banking. There are even classes on topics like managing a branch office of a bank.
|Online Availability||Online programs are available|
|Common Courses||Accounting, macroeconomics, business law, consumer credit, principles of banking|
|Degree Fields||Business administration, business, finance, economics|
|Possible Careers||Bank teller or manager, Federal Reserve employee|
|Career Outlook (2016-2026)||6% growth (financial activities industry)|
|Average Salary (2018)||$30,140 (bank teller), $76,270 (loan officer), $121,770 (financial adviser), $123,880 (operations manager)|
Source: U.S. Bureau of Labor Statistics
Can I Get a Degree Online?
There are colleges offering a business administration degree online, and some do include specific coursework in the banking industry. It is also common for online programs to include an internship, but the internship can be done locally.
What Kind of Classes Will I Take?
Depending on the program, you'll take a variety of classes related to banking, economics and business administration. In most programs, coursework includes:
- Business law
- Business ethics
- Consumer credit
- Principles of banking
What Can I Do With a Degree in This Field?
There are many jobs related to the banking industry. You might start out as a teller in a bank and work up to becoming a branch manager. You can find work in a regular commercial bank, a credit union or a savings and loan institution. You might specialize in loans or estate planning. You can work in the securities and investment industry, or you can find work in the Federal Reserve System.
What is the Industry Outlook?
According to the U.S. Bureau of Labor Statistics (BLS), employment in the financial activities industry was expected to grow by only 0.6% between 2016 and 2026. Employment of bank tellers was expected to decline by 8% during that time period due to the rise of online banking. However, the BLS reports that job prospects for tellers should still be favorable since many workers go on to pursue other fields.
How Much Can I Earn?
Salaries are dependent on the size of the financial institution, your position in the bank and the amount of experience you have. According to the BLS, bank tellers made an annual salary of $26,650 in 2014. Loan officers had an average salary of $73,670 in 2014, and financial advisers earned $108,090. Annual salaries for operations managers averaged around $117,200.