Is Major Banks A Good Career Path In 2021?

06 October 2021

Is major banks a good career path in 2021? How many jobs are available in major banks? What are the best-paying jobs in the major banking sectors?

Banking continues to be one of the most rewarding, competitive, and challenging careers in the corporate field. It offers several opportunities to learn about businesses and industries and is regarded as one of the top options for career growth.

The best part about this sector is that anyone interested can pursue this career. However, there are some pros and cons of this industry that you need to understand before choosing this as your career path.

What Are Banking Careers?

What Are Banking Careers

A banking career is any position within a financial institution. Some of the popular banking careers include bank administrators, trust and investment bankers, accountants, and bank tellers.

You can call this career path a service industry and do not require higher education. Moreover, careers at banks tend to be very stable, with close relationships among the customers and local residents.

These multinational financial institutions manage millions of transactions per day. On the other hand, you get a wide range of opportunities for advancement and promotions within the sections of the firm.

Is Major Banks A Good Career Path In 2021?

The answer to this question is an absolute Yes. Banks will hire and train you if you are willing to learn more and accept responsibilities in the long run. If you are already a part of the banking sector, you know well the types of benefits you get in this career path.

Now, let’s discuss some of the top benefits of pursuing a career in banking.

Career development opportunities
Reliable hours and good working conditions
Opportunities for advancement
Job security
A broad range of opportunities to choose from Excellent job benefits, including disability insurance, sick leave, paid time off, and medical insurance.
Competitive salaries
Continuing education and community service is highly encouraged.

Regardless of race, physical capabilities, age, national origin, or gender, a career in banking is open to all. However, attitude and aptitude are vital to your success. Financial institutions are always in search of individuals who are trustworthy and can calculate and balance numbers correctly.

How Many Jobs Are Available In Major Banks?

According to Statista, in the first quarter of 2020, there were 49,000 full-time employees working at the twelve largest investment banks all over the world which is 5% lower than the same quarter in the previous year.

Now, let’s discuss some of the top-paying jobs available in the major banks that may interest you.

i). Bank Teller

This is the simplest of all jobs associated with banking. Bank Tellers process the day-to-day transactions and serve as the customer representatives for the bank. They assist customers with customers involving cash checking, withdrawals, transfers, and deposits.

Besides, individuals involved in this sector have a high school diploma but holding a bachelor’s degree can help you to get a higher position in this same sector.

ii). Collector

A Collector in a bank offers innovative and cost-effective financial solutions to corporate and private customers. However, they tend to get a bad reputation among others yet play a key role for businesses.

For this position, you require a high school diploma, or simply a bachelor’s degree is enough. The average salary of these individuals is more than $40,000.

iii). Loan Officer

Loan Officer is another best-paying job in the major bank’s sector. These officers serve like salespeople, attracting customers for loans. They evaluate the customer’s overall creditworthiness, income, and job history.

Moreover, these individuals must be at the right time and right place to get the best conversions. To get this position, you must have a finance and economics background.

iv). Branch Manager

The Branch Manager or Bank Manager manages operations, including training and hiring staff. In addition, they set goals and take care of the branch’s budget.

As a bank manager, you need to manage all the functions of the branch, making sure that the branch meets its objectives, building a reputation, developing customer relations, supervising the loans, and much more.

v). Accountant

The Accountant is also one of the top-paying jobs in the major bank sector. This is one of the most popular financial positions that evaluate, plan, and analyze income and business expenses.

If you are willing to work in a public accounting firm, you need to sit for the Certified Public Accountant exam.

vi). Personal Financial Advisor

Personal Financial Advisors help people make money to meet their short and long-term objectives. These are professionals who offer tailored monetary advice and services to customers.

Financial Advisors create monetary strategies for the clients that consist of a complete evaluation of their present and future financial state.

vii). Financial Analyst

As a Financial Analyst, you help individuals or businesses make investment decisions. To get this job position, you need a bachelor’s degree to get started in this field.

Financial analysts also work in insurance companies, pension funds, and other firms. These individuals guide individuals and businesses in settlements about disbursing money to attain a profit.

Closing Thoughts

Is major banks a good career path in 2021? I hope that you have already got an answer to your question. Careers in major banks can be rewarding both in terms of opportunities and remuneration. The above listed are the most appreciated jobs in the banking sectors that you can consider too.

Read Also:

Is Consumer Non-durables A Good Career Path

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How to Keep Remote Employees Productive in 2022

The remote work movement is here to stay. That’s something we can say with confidence at this point, following a rapid shift during the pandemic. Even companies that at one point were very strictly against remote work now have hybrid options, or some are remote-first and remote-only. As companies transitioned, perhaps not willingly, but because they were forced to during the pandemic, they saw real benefits. A lot of employers say that their employees were more productive than they thought they would be and happier in many cases too. That doesn’t mean that it’s all smooth sailing, though. Managers and leaders are still looking at ways to keep remote employees productive and engaged over the long-term with remote work, now that the newness has worn off and the reality of possible downsides has set in. For leadership in 2022, the following are things to remember to keep your remote teams productive and thriving. 1. Give Them the Technology They Need to Succeed You want your remote employees to feel like they can access everything they need to do their jobs quickly and easily. At the same time, in providing that access, you can’t sacrifice your cybersecurity. Many bad actors have taken advantage of remote work over the past couple of years, wreaking havoc on businesses. To keep remote employees productive but also to protect your data and assets, think about investing in an identity and access management (IAM) security strategy. IAM makes it easy for your employees to access everything required to do their jobs quickly and efficiently but simultaneously reduces the risk of an identity breach. The more cumbersome your identity management or cybersecurity tools, the less productive and engaged your employees are going to be. Similarly, ask your employees if there are other apps or resources they might require to be more productive. Using good project management software goes a long way in any organization. Very little thought should be given to how they access the network and the resources they require day-to-day on their part—your focus should be on the provision of a seamless experience so this can happen. 2. Keep Your Employees in the Loop, No Matter Where They’re Working There’s a term that you’re likely to hear more of in the coming months and years, which is remote-first. In a remote-first organization, there is still a physical office space, but it’s not a hub of communication or decision-making. Instead, the online world is. The office may exist as needed or when someone prefers to come in, but managers and leaders make an effort to ensure that everyone who works remotely is in the loop and the conversations are happening digitally first and foremost. If there are any updates that need to be shared, or you need feedback or have company news, make sure remote employees have access to it. Even if you aren’t technically remote-first, keep employees connected through communication. 3. Rethink Your Onboarding Process If you’re hiring new employees right now, how you onboard them is going to have a ripple effect on their productivity throughout the entirety of their time with your company. Remote new hires tend to feel significantly less equipped to do their jobs. They need support, and your onboarding strategy should take into account the remote element. Your employees need access to login credentials and documents, they need training and orientation, and they also need training on less apparent drivers of success. For example, your onboarding program should include things like how your organization members communicate with one another. 4. Recognize If You’re a Productivity Killer Managers and leadership may be killing employee productivity, and they often have no idea they’re the problem. If you’re constantly holding long-winded meetings on video chat, you are killing productivity. Just like in the past few years there has been a big push away from pointless in-person meetings, make sure you’re not creating the same environment digitally. If you don’t need everyone to attend a video meeting, then don’t have everyone participate. Let your employees work in the ways that they think are going to help them meet goals and achieve, without trying to take up too much of their time or micromanage. The real advantage of remote work is that you can think less about how employees get to a certain endpoint. Instead, it’s about results. You’re not monitoring everything they’re doing, so allow employees to thrive and be more productive by meeting objectives you set but doing so in the ways they think are best or most effective. You’ll find if you set measurable, specific goals but then take a step back, it helps your remote employees thrive. Read Also: What No One Tells You About Working Remotely Tips For Calling In Sick To Work 5 Of the Highest Paid Remote Jobs

What Do Consumer Non-Durables Jobs Pay?

What do consumer non-durables jobs pay? If this is something that you are searching for, then you have reached the right place. After the pandemic of 2020 caused due to the outbreak of the Covid-19 virus, a lot of people started to look for jobs across various fields. This is mostly because of the large wave of unemployment that took over the world during the lockdown globally. If you are someone who is searching for jobs in consumer non-durables, then you need to do one thing. And that is to keep reading this article till the end… What Are Consumer Non-Durables Jobs? In order to know what are the jobs that are present in this line, you need to know what is the consumer non-durable. So here I go. Consumer non-durables are the items that are good or items that have a very small lifespan. This means that consumers do not use this for a very long time. They are not very durable, needless to say. Therefore, these goods are considered to be consumer non-durables. The goods that are non-durables generally need to be used up before or in less than three years. These are the items that are produced in very large quantities, but at the same time, these goods are cheaper to produce and purchase. These goods are different from consumer durable goods, which last for more than three years. Some examples of consumer non-durables are packaged and non-packaged goods like food, drinks, laundry detergents, etc. You must have heard the names of companies like Coca-Cola, Pepsico, Nestle, and Unilever. These are all the companies that deal with consumer non-durables. Answering The Question, “What Do Consumer Non-Durables Jobs Pay?” Now that you know what the consumer non-durable job is, it is time for you to know about the jobs that pay well in the field of consumer non-durables. If you are thinking, “is consumer non-durables a good career path,” then the answer is YES! And one of the main reasons for that to happen is because this job pays you a lot of money. But, at the same time, there is also a huge variety of jobs that are available in this field of work. Typically the consumer non-durables jobs pay you nearly $41,500 on an average per year. However, that does not mean that this is the only money that you can make in this line or sector. There are many people working in this area that make nearly $100,000 on an average every year. The money that you make depends on your rank or position or your job role. One of the main reasons why the companies on consumer non-durables pay well is because the companies do not always need experienced or skilled labor or employees all the time. For example, there are many people who have gotten a job in the consumer non-durables sector without having any prior experience. Jobs Available In The Consumer Non-Durable Sector There are many jobs that are available in the line of consumer non-durables. Here is a list of some of the jobs that pays you well in this line: JOB ROLESAVERAGE SALARYENTRY LEVEL SALARYRestaurant General Manager$54,000$72,000Sales Representatives$62,000$50,000Food and Beverage Manager$53,000$39,000Food Technologist$63,000$39,000Chef$47,000$32,000Beauty Consultant$33,000$30,000Grocery Associate$31,000$29,000 Consumer Non-Durable Companies Procter & Gamble Company Nike Nestle AG Loreal Pepsico Coca-Cola Company Unilever Group Philip Morris International Anheuser-Busch Inbev Christian Dior Procter & Gamble Company Market Cap (Sep-01-2021): 345.770 Billion USD Revenue: 70,950 Million USD (Year Ending: Jun-2020) Net Income: 13,030 Million USD (Year Ending: Jun-2020) Number of Employees: 99,000 (As of 2020) Nike Market Cap (Sep-01-2021): 260.800 Billion USD Annual Revenue in USD: 37,420 Million USD (May 2020) Annual Net Income in USD: 2,530 Million USD (May 2020) Number of Employees: 75,400 (2020) Nestle AG Market Cap (Sep-01-2021): 348.550 Billion USD Annual Revenue in USD: 92,301 Million USD (Year Ending: Dec-2020) Annual Net Income in USD: 13,242 Million USD (Year Ending: Dec-2020) Number of Employees: 291,000 (December 2019) Loreal Market Cap (Sep-01-2021): 262.430 Billion USD Annual Revenue: 33,028 Million USD (Year Ending: December 2020) Annual Net Income in USD: 4,172 Million USD (Year Ending: December 2020) Number of Employees: 88,000 (As of December 2019) PepsiCo Market Cap (Sep-01-2021): 216.150 Billion USD Annual Revenue in USD: 70,370 Million USD (Year Ending: Dec-2020) Annual Net Income: 7,120 Million USD (Year Ending: Dec-2020) Number of Employees: 263,000 (2019) Coca-Cola Company Market Cap (Sep-01-2021): 243.070 Billion USD Annual Revenue: 33,010 Million USD (Dec-2020) Annual Net Income: 7,750 Million USD (Dec-2020) Number of Employees: 86,200 (in 2019) Unilever Group Market Cap (Sep-01-2021): 145.300 Billion USD Annual Revenue in USD: 59,850 Million USD Annual Net Income in USD: 6,529 Million USD Number of Employees: 149,000 (2020) Phillip Morris International Market Cap (Sep-01-2021): 160.530 Billion USD Annual Revenue in USD: 28,690 Million USD (year ending in Dec-2020) Annual Net Income in USD: 8,030 Million USD (year ending in Dec-2020) Number of Employees: 71,000 (2020) Anheuser-Busch Inbev Market Cap (Sep-01-2021): 123.700 Billion USD Annual Revenue in USD: 46,880 Million USD (Year Ending: Dec-2020) Annual Net Income in USD: 1,400 Million USD (Year Ending: Dec-2020) Number of Employees: 170,000 (December 2019) Christian Dior Market Cap (Sep-01-2021): 139.230 Billion USD Annual Revenue in USD: 63,331 Million USD (Year Ending Dec-2019) Annual Net Income in USD: 3,437 Million USD (Year Ending Dec-2019) Number of Employees: 163,309 (2019) Frequently Asked Questions (FAQs):- As you have reached almost the end of this blog, I hope that most of your queries have been cleared. However, in case you want some more information regarding the same topic, here are some of the questions that readers frequently ask about what do consumer non-durables jobs pay. You might want to check them out. 1. What Is The Highest Paying Job In Consumer Non-Durables? Ans: Some of the highest-paying jobs in the line of consumer non-durables are:➊ Human Resource Manager➋ Food and Beverages Manager➌ Digital Designer➍ Chemical Engineer 2. What Is The Meaning Of Non-Durables? Ans: Non-durables or consumer non-durables are the items that the consumers do not use for a very long time. These are the goods that the consumers use in less than three years. Some of them are laundry detergents, packaged goods, drinks, etc 3. What Are Examples Of Consumer Durables? Ans: In case you are searching for an example of consumer durables, you have reached the right place. These are the items that the consumers have used for more than three years. Here are some of the examples of consumer durables:➊ Computer➋ Air conditioners➌ Refrigerator➍ Dryers➎ Cars Wrapping It Up! Non-durables are the goods or items that the consumers use up in less than three years. These items can be the packaged goods that have an expiry date on them. Needless to say, there are several types of jobs that are available in the line of consumer non-durables. If you were looking for the answer to what do consumer non-durables jobs pay, I hope that you found this article to be of help. Also, if there are any other queries related to the same, feel free to write them down in the comment section below. Read Also: Best Paying Jobs In Energy Best Paying Jobs In Electric Utilities Central Are Commercial Banks A Good Career Path?

Is Capital Goods A Good Career Path? [Updated 2023]

In this article, we are going to cover the above-listed topics in detail. Capital goods are produced by the service sector and are physical in nature. A society acquires capital goods by preventing wealth that can be utilized in the means of production. Proceed to know more about the same in detail. Capital Goods Definition Capital goods are physical assets that a firm uses in the production process to discover goods and services that consumers will use in the long run. These are usually fixed assets such as tools, vehicles, equipment, machinery, buildings, etc. According to Wikipedia, the economic concept of capital goods is a series of heterogeneous commodities, each having particular technical specifications that are utilized in the making of products and services. In simple words, capital goods are goods that humans make of society. These goods are the ones whose transactions bring capital or money to the economy. Some of the best examples of capital goods are electronics, facilities, computing technology and vehicles. However, you must be aware that capital goods are the tangible items of society. So, businesses or industries buy these items and produce finished goods for consumers. Therefore, there are a lot of components that are included when we talk about capital goods. Is Capital Goods A Good Career Path In 2023? The answer to this question is an absolute Yes. Capital goods are crucial for increasing the long-term productive capacity of the economy. Moreover, you can choose your career in capital goods because it includes all types of wealth, excluding nature’s gift, and this yields income. Man, not nature, produce capital. Moreover, it can simplify your living standards in the long run. Remember that only that part of the wealth that is used for further production is known as capital. It does not generate income or output. It is just the claim on assets. This is actually the means of production and a passive factor of the same. Hence, capital goods is a career path, and the skills required to become the same can be useful in other industries as well. What Are The Best Paying Jobs In Capital Goods? Any man-made durable item used to do business is called a capital good. This is because these goods are used to produce other goods. Now, there are many best-paying jobs in capital goods, and these are: i). Implants Sales Representative Implants Sales Representative is one of the best paying jobs in capital goods. Here, you must have the ability to meet divisional goods and key performance objectives. However, that is not all. In addition to this, you must be able to work independently and must not be dependent on anyone. Estimated Salary: 50,000 Dollars (USD) ii). Territory Manager Territory managers establish and maintain relationships with clients. Therefore, if you are seeking this role, your communication should be very strong, you must be self-motivated, and you must have a positive attitude. Estimated Salary: 90,000 Dollars (USD) iii). Capital Equipment Sales Representative Capital Equipment Sales Representative gets high rewarding salaries and promotes long-term customer satisfaction. Here, the work environment and job role can vary from country to country. Estimated Salary: 76,000 Dollars (USD) iv). Remote Sales Representative Remote Sales Representative brings sales talents to a leader in healthcare solutions and medical technology. However, to qualify for this job role, you must have more than three years of experience in health care sales. Estimated Salary: 48,000 Dollars (USD) v). Medical Capital Equipment Medical Capital Equipment is also one of the best paying jobs in goods. Therefore, this job adds value to your question, “Is Capital Goods a Good Career Path?.” Additionally, to get this job role, you must have strong analytical skills and effective presentation skills. Estimated Salary: 152,000 Dollars (USD) Is There An Opportunity Cost To Increase Investment In Capital Goods Today? The answer to this question is Yes. There is an opportunity cost to increase investment in capital goods today. It is because improved production of capital goods means lower consumer goods today.Moreover, the weight of demand falls when the cost rises and vice versa. Here, we must choose between consumer goods and capital goods at present. Let’s see the difference between the two below! What Is The Basic Difference Between Consumer Goods And Capital Goods? Consumer goods are used by consumers and have no future productive use. Whereas, Capital goods are used by one business to help another business create consumer goods. Consumer Goods Capital Goods Final consumption Final investment Price determination is done by suppliers Price determination is done by companies Direct demand Derived demand Consumers are the buyers Manufacturers are the buyers Bought for personal consumption Bought for making other products Business to the consumer marketing process. Business to the business marketing process. Which Type Of Inflation Would Include Capital Goods And Consumer Goods? The answer to this question is ‘The GDP Price Index’ as it measures the price of all goods (capital goods and consumer goods). There is a basic difference between consumer goods and capital goods that is described above, and you must refer to the same. The Final Thoughts Is Capital Goods a Good Career Path? So now, you know the reasons why capital goods is a good career path, and your career can be bright if you choose the same. Besides, if you come across any doubts, you can mention them below in the comment section, and we will try our best to clarify them at the earliest. Read Also: Is Precious Metals A Good Career Path Is Hotels/Resorts A Good Career Path In Is Oil & Gas Production A Good Career Path Is Clothing/Shoe/Accessory Stores A Good Career Path Is Real Estate Investment Trusts A Good Career Path

Is Major Banks A Good Career Path In 2021?

What Are Banking Careers?

Is Major Banks A Good Career Path In 2021?