How Many Jobs Are Available In Commercial Banks?

Published on: 23 December 2022 Last Updated on: 04 September 2024

As you are searching about “How many jobs are available in commercial banks?” I can take it as you are thinking about building your career and want to check different positions for you.

It is always the best way to build your career to start the preparation beforehand. It is great that you are thinking about different options and know about them to make the final call. In case you are thinking about choosing the banking sector, this one’s for you.

The commercial banking industry is now booming. This is one of the industries that are not only doing well but also growing constantly. Here in this article, I will not only answer your question but also give you an insight into this particular job.

What Are Commercial Banks?

Commercial banks are nothing but financial institutions that offer different types of banking sector-related services, especially to businesses and individuals. All these services can include foreign exchange trading, credit card issuance, lending, deposit taking, money market operations along more things.

In the global economy, commercial banks play a vital role by offering essential financial services and allowing businesses to expand and grow.

Their Offerings

Now, here are the major things that commercial banks provide.

Loans

In case you are looking for lines of credit or loans for your business, commercial banks got you covered. The loans can be used for various purposes, like consolidating debt, starting a business, or even purchasing a home.

Here, I like to add that with lines of credit, you can borrow money up to a particular limit and also can use that for unexpected or emergency expenses.

Deposits

They provide different types of deposit products like checking accounts, savings accounts, money market accounts, certificates of deposit, or CDs. All these deposit products let customers save more money, along with earning interest on their balances.

Other Services

Apart from the above 2 things, commercial banks also offer some other essential services, such as foreign exchange, credit card issuance, and money market operations. With all these, individuals and businesses can access necessary financial assistance in order to expand and grow, as I have said earlier.

The Different Types Of Jobs Available In Commercial Bank

Now, let’s have a look at the different job roles in commercial banks.

Loan Officer.
Bank Teller.
Financial Sales Agents And Traders.
Financial Manager.
Branch Manager.
Financial Consultants.
Mortgage Banker.
Trust Officer.
Relationship Manager.
Investment Banker.
Asset manager.
Foreign Exchange Traders.
Equity Analyst.
Credit Analyst.
Budget Analyst.
Internal Auditor.

How Many Jobs Are Available In Commercial Banks?

There are more than 4,000 FDIC-insured commercial banks, and there are more than 1.95 million people who are currently working in commercial banks in full-time positions.

At the same time, the industry of commercial banks is growing every day. Standing in 2023, this industry has developed a market size of $963.4 billion. Although it necessarily does not have anything to do with job vacancies or available jobs in commercial banks.

In place of in-person banks, more and more people are shifting to online banking services. Reports say that a lot of commercial banks are investing in digital services. As people keep shifting to different industries or retiring, there are always some jobs available in commercial banks.

Although a decline has been noticed regarding the available jobs for bank tellers, on the other hand, the available jobs for financial managers are experiencing huge growth. The number of available jobs has grown by around 17%.

Available Jobs In Commercial Banks

Now, let’s have a quick look at the job profiles that are currently available in the commercial bank’s section. When you are looking for “how many jobs are available in commercial banks?” you will also want to know the vacant positions.

Bank teller.
Senior relationship manager.
Financial intel specialist.
Credit risk vice president.
Commercial banking relationship manager.
Loans assistance.
Commercial bank risk manager.
Commercial banking officer.
Commercial associate.

Frequently Asked Questions (FAQs):–

I believe after going through this article; you got the answer to your question, “How many jobs are available in commercial banks?” along with other necessary details. Now, here are some most common questions that you might have in your mind.

So, here, I am answering those so that you don’t have any doubts in your head.

Q1: How Many People Work In The Banking Industry?

Ans: As of the 2022 data, around 2,027,667 people are working in the commercial banking industry in the United States.

Q2: How Many Positions Are There In A Bank?

Ans: Branch or bank managers, credit analysts, office or administrative staff, mortgage and loan officers, and bank tellers are at the core of a bank. Larger banks usually employ people in different levels of each of those positions on the basis of their responsibilities.

Q3: Do Commercial Banks Pay Well?

Ans: Just like many other industries, the average salary always depends on the particular role you are applying for, the experience you have, and your location. You will find some jobs paying better than others. Still, the average salary for a bank teller is around $36,000, but that of a financial manager is $131,000.

Q4: Does The Commercial Bank Job Need Additional Education?

Ans: On the basis of your particular job type, the required education and skill set differ. If you are looking for a bank teller job like many others, only having a school diploma and some training will be enough. On the other hand, as a financial manager, you will need both education and additional experience.

Final Thoughts

So, now you get the answer to your question, “How many jobs are available in commercial banks?” So, you need to prepare for this job role from now on. If you have any preference for any particular type of job role and profile, you also need to have the necessary qualifications and skills. It is always best to target a particular sector instead of trying here and there.

You just need to be focused and keep preparing for this. Always ensure that you are going in the right direction. Also, if you want to get into a particular bank, it is best to know its criteria beforehand.

Read Also:

Why Should You Enroll In A Part-Time Degree?

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how long does it take to become a psychiatrist

The Road To Psychiatry: A Timeline Of Education And Training

Ever wondered about becoming a psychiatrist? We do get inquiries concerning mental health in general, as well as this subject, on a regular basis. We have graduates with psychiatry residency enrollments, current students pursuing careers in psychiatry, and alumni who are psychiatrists in the US and Canada inquiring about it. So, we have a good understanding of the process of becoming a psychiatrist. In this article, you will learn how to become a psychiatrist and why a student should consider psychiatry as a career. Prospective students should think about both academic and non-academic items. Before we answer how long does it take to become a psychiatrist, let's dive deeper into the world of psychiatrists. Who Is A Psychiatrist? Psychiatrists are medical professionals with a board certification and license in mental health disorders. The medical specialty of psychiatry concerns the identification, management, and prevention of mental, behavioral, and emotional disorders. Anxiety, depression, personality disorders, bipolar disorder, schizophrenia, body dysmorphia disorder, eating disorders, and addiction are among the common psychological issues that psychiatrists treat. To diagnose their patients' disorders, psychiatrists also conduct psychological and laboratory testing. They make use of psychotherapy, prescription drugs, and a range of cutting-edge therapies like deep brain stimulation, transcranial magnetic stimulation, and electroconvulsive therapy. Psychiatrists can find employment in hospital and clinical settings. They check patients' medications and offer counseling in the clinic. Psychiatrists are hospital employees who work with hospitalized patients in a secure psychiatric unit or on the general medical floor. What Do Psychiatrists Do? A psychiatrist is a medical professional who assesses mental health disorders' symptoms and potential causes. In order to aid in the diagnosis process, this may entail obtaining medical histories, requesting blood tests, and assessing symptoms. A psychiatrist may suggest prescription medication, light therapy, counseling, diet and lifestyle management, and electroshock therapy as treatments after a medical diagnosis. Psychiatrists frequently refer and co-manage patients with psychologists. Among the common mental illnesses that psychiatrists identify and treat in their patients are: Chronic schizophrenia is a mental illness marked by delusions, disordered speech, strange behavior, diminished involvement in day-to-day activities, and difficulty concentrating. Sleeping disorders comprise insomnia and other conditions marked by frequent nighttime awakenings, poor sleep quality, insufficient sleep, and difficulty falling asleep. Depression is a chronic illness marked by a decrease in motivation, lack of interest in routine activities, changes in appetite, depressive feelings, low self-esteem, and a lack of social interaction. Anxiety disorder is a mental illness that can cause excessive worry, agitation, panic attacks, and anxiety levels that interfere with day-to-day functioning. Mood swings associated with bipolar disorder include a manic phase marked by high energy and detachment from reality and a depressive phase marked by low energy and disinterest in day-to-day activities. Chronic attention disorders, such as ADHD and ADD, are characterized by impulsivity, hyperactivity, and trouble focusing and paying attention. Eating disorders are an unhealthy relationship with food. It could be a distorted body image and obsessive thoughts about weight or calorie intake. These are hallmarks of eating disorders, such as bulimia and anorexia. Psychosis is a mental illness marked by a detachment from reality. It often has associations with hallucination disorders. Hallucinations, agitation, incoherence, animosity, and not realizing their strange behavior are possible additional symptoms. Addiction disorders are psychological conditions marked by obsessive behavior, even in the face of unfavorable results or repercussions, like substance abuse. Difference Between Psychiatrist And Psychologist Psychologists' and psychiatrists' training backgrounds are primarily different. A psychologist did not attend medical school. Instead, they hold a PhD or PsyD degree in psychology and have clinical psychology training. Psychiatrists are physicians with licenses who have completed medical school and received their MD or DO degrees. Psychologists cannot practice medicine, prescribe drugs, or carry out medical procedures. Psychiatrists have permission because of their educational background and training. In addition to spending time counseling patients and practicing cognitive psychology, both providers assist in the care of patients with mental health disorders. Psychologists and psychiatrists are mental health practitioners who have received training in understanding mental health disorders, their diagnostic criteria, and various treatment modalities. A clinic or hospital might also employ both. Psychologists, who are more frequently thought of as counselors, treat conditions using psychotherapy or talk therapy, while psychiatrists may prescribe medications to treat mental health disorders. Psychologists and psychiatrists frequently collaborate to serve patients better. For instance, psychiatrists may see a patient for the first time, make a diagnosis, and recommend medicine. After that, the psychiatrist might suggest talking therapy for the patient with a psychologist. Patients frequently gain the most from visiting both kinds of providers. Psychologists and psychiatrists are occasionally referred to as counselors or even therapists. This is not to be confused with individuals who have received social work training. How To Become A Psychiatrist? Becoming a psychiatrist requires 12 years of education on average after high school. This comprises four years of college, four years of medical school, and four years of a residency program in psychiatry. After completing their training, many psychiatrists decide to attend a fellowship in one of the nine popular subspecialties in order to continue their education. Fellowships typically last one year. See the section below to learn more about psychiatrists' training for subspecialties. Do Psychiatrists Attend Medical School? It is true that psychiatrists attend medical schools. To elaborate, a prospective student who wishes to become a psychiatrist must first finish undergraduate studies and high school (or a GED), then apply to medical schools. Most four-year medical school programs follow graduation from an Osteopathic medical school (DO degree) or an Allopathic medical school (MD degree). Medical students must earn the necessary credentials to obtain a license and become fully board-certified. This requires them to complete a general psychiatry residency successfully. Is Psychiatry A Good Career? Psychiatry is a great profession that does not necessitate a Ph.D. Being a psychiatrist is a long career path, but many people think the effort is well worth it. Psychiatrists are typically able to work closely with patients for extended periods of time. Moreover, psychiatrists are capable of treating and diagnosing patients. The job is highly rewarding because it allows one to directly impact a patient's life and mental health. They can also observe clinical improvement in patients. Psychiatry also offers a great lifestyle with less time spent on call and Monday through Friday working hours. It sets it apart from most other medical careers. Psychiatrists can work in a variety of settings, such as outpatient clinics and hospitals, treating inpatient patients with mental health issues. Psychiatrists see hospitalized patients in order to diagnose illnesses or disorders. They initiate new prescriptions, adjust existing ones, order and interpret lab tests, and provide patient counseling. Psychiatrists also perform many of the same tasks in the context of an outpatient clinic. However, counseling and medication management take up the majority of a patient's visit time in an outpatient setting. Wrapping Up For most psychiatrists, becoming a practicing psychiatrist requires 12 years of training. A bachelor's degree normally takes four years to complete, as does medical school. It takes an additional four years to finish a psychiatry residency and become certified by the psychiatric board. Additional training, specialization, and other variables may extend this period of study by several years. If you want to know the difference between a therapist vs psychiatrist, we have shared a detailed study of it. Share your thoughts or questions on how long does it take to become a psychiatrist. Comment below, we would love to hear from you! Learn More About: How To Take Care Of Your Mental Health? Psychedelic Therapy for Mental Health Conditions What Is Mental Health Counseling, And What Kind Of Mental Health Issues Can It Address?

Is Consumer Services a Good Career Path?

Each and every occupation has its perks. Consumer services offer a good headstart for people starting their careers in the field. Also, there is a promised and good growth potential in this sector. The service sector of an economy is divided into three different categories. Business services. Public services. And consumer services. Many of us tend to confuse consumer service with customer service ( which is about helping customers before and after purchase). Consumer services are intangible, and they are often produced, served, and consumed at the same time. But, is consumer services a good career path? What are the good sides and the disadvantages of a career in the consumer service platform? If you have similar queries, then this article might be helpful. What Is Consumer Service? Consumer services (again, not to be confused with customer services) focuses on intangible services that derive value from different intangible experiences, outcomes, or processes. Such services have no physical experience. If you want examples, we can name a few familiar consumer services that we are familiar with, Computer software, Consulting, Health care, Accounting, Education, Insurance, Investment banking etc. Some jobs in the consumer service sector might also require you to work in call centers, and they might be based in retail stores. In some cases, you might be required to work from your home. A basic skill needed in the consumer service sector is good communication and problem-solving. Industrial services and consumer services differ from each other. Below is a detail, Consumer Services Examples Some examples of consumer service jobs can be found in different industries. Below are some industries you might want to check out, 1. Retail In the retail industry, businesses create and sell products and services for personal use. If we calculate in the US, there are more than 3.8 million retail businesses. These consumer services in the retail sector employ around 44 million people. As a result, it is one of the biggest private sectors. 2. Healthcare Health care services also come under the consumer service sector. The healthcare sector offers an assured answer to your question – “is consumer services a good career path?” there are different consumer services in this sector that are indispensable. You can find consumer service jobs in these sectors under healthcare services, Rehabilitative Emergency Home care And long-term treatments 3. Education There are plenty of job opportunities in the healthcare service sector. But, the education sector is not devoid of consumer service occupations. You have jobs in universities, colleges, and schools. 4. Hospitality Hospitality is the host of a huge service industry and is comprised of food and beverages, travel and tourism, lodging, and more. All of these feeds are interconnected to each other. There are many job opportunities in hospitality as a consumer service professional. Similar to these sectors, consumer service jobs are available in Information technology, finance, product as services, and professional service sectors. So, Is Consumer Services A Good Career Path In 2024? Consumer services is a good career path in 2024 for those who enjoy interacting with people and solving their needs. Consumer services is a broad sector that includes a wide range of careers focused on delivering consumer services and support, such as customer service, sales, retail, marketing, product development, research and development, and operations. Of course, there are also some challenges and drawbacks to working in consumer services, such as dealing with difficult customers, working under pressure, and facing competition. However, these can be overcome with the right skills and mindset, and by seeking training and support from employers or colleagues. Some of the benefits of pursuing a career in consumer services are: Job security Many consumer services, such as health care and banking services, are essential for people's daily lives, so the demand for these services is likely to continue regardless of economic conditions. Consumer services industries are also constantly evolving and innovating, creating new opportunities for skilled workers. Flexibility Many jobs in consumer services offer flexible work schedules, making it easier to balance work and personal life. Some jobs also allow remote work or digital delivery, which can increase convenience and efficiency. There are also various types of jobs in consumer services, allowing candidates to choose positions that suit their interests and strengths. Growth opportunities There are many career growth and advancement opportunities in the consumer services industry, with many entry-level positions leading to management positions. Consumer services roles also help to develop transferable skills, such as communication, problem-solving, and conflict resolution, which can benefit any profession. Meaningful work Consumer services roles play a crucial role in ensuring customer satisfaction and building brand loyalty, making it a meaningful career choice. Consumer services professionals can also make a positive impact on society by supporting local businesses and communities, reducing waste and clutter, and promoting health and wellness. Jobs Available In The Consumer Service Sector Now, with a clear idea about the consumer service sector, we are ready to explore the job opportunity in the consumer service sector. This type of service has a wide range. The consumer service sector is the largest sector in the world, where jobs range from garbage cleaning to offering brain surgery. In the US alone, this sector has a wide range of jobs lined up, taking up almost 50% of the total available jobs in the US. Different types of jobs are available in education, health, retail, and other different sectors. Teaching students, student counseling, and financing loans for students are intangible services produced and consumed simultaneously. So, is consumer services a good career path? Yes, it is a viable option, given the number of variable job opportunities in different sectors. Salespersons and customer service representatives also come under consumer service. Pros And Cons Of The Consumer Service Sector Here are some pros and cons of the consumer service sector - Pros There are countless opportunities of working in the consumer service sector. Low academic degree requirements make it a great place to start your job. You can build interpersonal skills dealing with different types of clients. Workers have opportunities to earn bonuses and commissions. Cons Sometimes it may not seem consistent. You have to deal with multiple and frequent changes in the business. This could often seem frustrating. The working hour is not regular sometimes. You might have to work on holidays and weekends. Professionals in this industry often face burnout and stress. Frequently Asked Questions (FAQs): Here are some frequently asked questions about the consumer service sector that I have answered below. Q1. What Career Path Is Customer Service? Consumer service is a good career option. If you have good communication and problem-solving skills, you can choose customer service jobs. As a customer service provider, you have to help customers before and after the purchase of a certain product or service. Q2. What Are Examples Of Consumer Services? Consumer services are the type of job where employees offer intangible services. These services are typically produced and consumed simultaneously. Some common examples would be auto repairs, haircuts, healthcare, education, landscaping, or pet sitting. Q3. What Companies Are In The Consumer Services Field? Here are some companies that we can take as examples of consumer service companies,1. Talkdesk2. Kasisto3. Acorns4. Walmart5. Apple6. Amazon7. Innovaccer8. Pfizer9. Thumbtack10. Babylon Health11. N26 Q4. Is Customer Service And Consumer Service The Same? Consumer services and customer services are different. Customer services aim to support customers before and after the purchase of a specific product or service. However, consumer service is about providing intangible services like auto repairing or haircuts. Is Consumer Services A Good Career Path? - Verdict There are some pros and cons. But consumer service industries are great to start your career in. You might start at an entry-level job, and you will rise through the ranks and can eventually make a profitable career out of it. Truthfully, consumer services are a good career option. In this sector, you get to work with new people and multiple people every day. In this article, I have explained several reasons why it is a good career path. Also, the number of jobs in this sector is multiplying every year. Did this article help? Please share y our feedback with us in the comment. You can also leave your queries regarding the same. Read More: Is Capital Goods A Good Career Path? Are Commercial Banks A Good Career Path 10 Tips For A Successful Law Enforcement Career

Ideal Jobs for Gap Year Travellers

There are a lot of people who look to travel and to see the world once they have finished school. For some, it is a case of visiting foreign shores while for others it is more a case of staying locally and expanding their horizons from there. Wherever it happens, the reality of the gap year is that it does require that work happens in order to fund the desired lifestyle. But quite what work to do is often the question. The goal is generally to find a means to earn a living, it is not about building a career. The gap year generally happens before university so there are no qualifications at play yet. All you want is a flexible job that pays well. So, if this is something that you are looking to do, here are a few ideas. Security Roles: Working security is certainly not glamorous, but it pays well, and it tends to be something that most able-bodied young men are equipped to do. Security roles vary from guards at factories to bouncers at clubs, armed response patrollers or you could even investigate cash in transit jobs. There are plenty of angles to investigate – most of which will require a week or two of training and thereafter you will be good to go. It is also likely that they will want applicants with no criminal records – which is generally achievable for most people who are fresh out of school. Construction: This is another great place for able-bodied young men to make a living. You don’t have to be trained in a specific trade or bring a specific skill-set to the mix. All that is really needed is muscle-power. People to lift and push and carry and move. This is hard work, but it is in demand. It does not work that anyone can do because it can be gruelling. You won’t want to turn this into a career, but it pays well, and it is an industry that loves to make use of casual labour. Find the foreman of any construction site and make some enquiries, you could be earning sooner than you think. But make sure that you look and are the part before you apply. If you have never been to a gym or look like you would get blown away in a strong breeze, then you might not get the reception that you were hoping for. Entertainment: This is the traditional domain of the young and hip. Working behind a bar or as a waitron. The options are many and they can extend to playing the hostess at a fancy restaurant or being the DJ. This is a great way to earn money and, because so much of it depends on tips, it is something that you can influence nicely if you have an engaging personality and a willingness to go the extra mile. What is also nice is that it is generally paid in cash which means that there are no tax implications. When you are on your gap year, young and carefree, the last thing that you want to be worrying about is tax and various deductions. Read Also: 8 Useful Tips For Personal Career Development Start Summer Off Right With These 5 Must-Have Accessories

How Many Jobs Are Available In Commercial Banks?