What Is a Personal Banker?

A job as a personal banker involves working one-on-one with clients, explaining financial products and assessing their needs. Keep reading to learn more about what a personal banker does and what education is required for this job. Schools offering Finance degrees can also be found in these popular choices.

Career Overview

A personal banker can work for any specific bank or credit union, working closely with clients and customers. Whether you meet with them in person or speak to them on the phone, you will be responsible for assessing their financial needs and explaining to them what products your bank offers, as well as what products would be good for them. You will also work with other bank employees, such as financial advisors, to make sure you are providing all the necessary information to your client or customer. You will handle client information as you assist them in filling out loan forms and other applications.

Sales goals will usually need to be met, so you'll be responsible for matching clients with products or offers, like credit cards, IRAs, and loans, and trying to get them to sign up for such products or offers. Another part of your sales duties may involve managing and run daily and weekly sales reports. Some banks may have you cold calling customers for potential business, not just handling the customers who call into your bank.

Important Facts About Personal Bankers

Work Environment Office, school
Similar Occupations Budget analyst, financial manager, insurance underwriter
Projected Job Growth (2016-2026) 15% (for all financial advisors)
Median Salary (2018) $88,890 (for all financial advisors)

Sources: Payscale.com, U.S. Bureau of Labor Statistics

Skills and Abilities

You will need to have communication and customer service skills. The ability to understand and present your bank's products, self-motivation and professionalism are important skills to have in this field. Other key attributes you want to possess include written and oral skills, problem-solving skills, and the ability to engage a customer quickly. General computer knowledge is also a must, as well as having the ability to work with data and figures.

Education and Experience

To work as a personal banker, you will need at least a high school diploma, but college is preferred by some employers. Employers may ask that you have at least one year of retail sales experience; however, if you have a college degree, they may accept experience from school activities, such as an internship.

Those open to pursuing a formal education in the field may choose to pursue an award in accounting or personal finance. You can obtain an accounting certificate, an associate's degree, or a bachelor's degree. Personal finance degrees are also offered, which will prepare you for working as a personal banker. Graduate degrees and certificates are available in both majors, as well.

Being a personal banker can lead to other careers in banking, such as management, sales, or financial advising. You may also choose to be certified by the Financial Industry Regulatory Authority (FINRA, www.finra.org) by taking its series 6 and 63 exams.

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