What Are the Education Requirements for a Career in Banking?

A career in banking may involve working in one of many environments, such as a commercial bank or a private financial institution. Read on to learn about the educational requirements for a career in banking. Schools offering Finance degrees can also be found in these popular choices.

A Career in Banking

People who work in banking fulfill a variety of financial roles. The field of banking encompasses a wide range of job titles, including investment banker, loan officer and credit analyst. A banking career may be a good option for students who have strong mathematical skills, and those considering the field should enjoy working with people - many banking jobs involve building and maintaining relationships. An undergraduate degree is typically required for most banking positions.

Important Facts about this Occupation

Loan OfficersFinancial Analysts
Median Pay (2018)$63,040 (for Loan Officers)*$85,660 (for Financial Analysts)*
Job Outlook (2016-2026)11% (for Loan Officers)*11% (for Financial Analysts)*
Certifications/LicensingAvailable, required only for mortgage loan officersRequired for many positions
Key SkillsDecision-making, initiative, interpersonal skillsAnalysis, communication, attention to detail, aptitude for math

Source: *U.S. Bureau of Labor Statistics

Undergraduate Study for a Banking Career

There are a variety of undergraduate banking-related degree programs from which to choose. Many students complete a Bachelor of Science (B.S.) in Finance. This program provides students with a strong foundation in the basics of finance and introduces them to important financial topics, such as financial management and investment principles. A Bachelor of Science (B.S.) in Accounting provides students with more accounting-specific coursework, including accounting systems and multinational accounting. Students may also pursue degrees with a general business focus, such as a Bachelor of Science (B.S.) in Business Administration or Bachelor of Business Administration (BBA).

Advanced Degree Programs for a Banking Career

Many banking careers require that employees complete an advanced degree in a financial field. In a Master of Science (M.S.) program in finance, students examine econometrics, derivatives markets, corporate valuation and other finance subjects. A Master of Business Administration (MBA) is another popular degree program with a general business core curriculum, plus additional coursework in a concentration area, such as finance, chosen by the candidate. An advanced degree in business may open doors to more opportunities when searching for employment.

To continue researching, browse degree options below for course curriculum, prerequisites and financial aid information. Or, learn more about the subject by reading the related articles below:

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