How Many Jobs Are Available At Major Banks?

Thinking about starting a career in banking? To start your career in this field you have to know first how many jobs are available in major banks. Let’s see what are the attractive job options you will get. It can be an attractive choice, given the scope of high salaries and job stability. 

This field is especially beneficial to people who enjoy numbers. If you’re thinking about a career change, you might be curious about the abundance of opportunities available within major banking institutions.

What Is A Major Bank?

Major banks are financial institutions that provide an array of services to consumers, ranging from commercial banking to specialized financial solutions. While these establishments offer a broad spectrum of services, they often excel in specific domains. Some common specialties within major banks include:

Job Availability In Major Banks

While the United States Bureau of Labor Statistics (BLS) does not specifically provide data on job statistics within major banks, it does offer comprehensive insights into the broader finance industry. Not only how many jobs are available in major banks create the full impressions. Here is a glimpse of the major bank’s job availability. This will give you a complete idea about the major bank industry.

As of June 2023, the BLS reports approximately nine million employees in the financial services industry. Additionally, there are approximately 392,000 job openings within this industry as of May 2023.

Zooming in on the finance, insurance sector takes the help from the larger BLS finance supersector, 6.7 millions of employees of this sector as of June 2023. 

Furthermore, it notes 269,000 job openings in this sector as of May 2023. Within this sector, the real estate, rental, and leasing industries boast 2.4 million employees as of June 2023, accompanied by 123,000 job openings as of May 2023.

Prime Jobs In The Banking Careers

For those contemplating roles in banking, discerning the states offering the most lucrative prospects can be pivotal in making an informed choice. Here are the leading states for various banking roles, as per the U.S. Bureau of Labor Statistics which is the correct and most expected answer of how many jobs are available in major banks.

Loan Officers: 

New York emerges as the prime state, offering an average annual salary of $107,770 for loan officers.

Bank Clerks: 

The District of Columbia leads the pack, providing bank clerks with an average annual salary of $40,580, the highest in the nation.

Credit Analysts: 

New York maintains its prominence, with credit analysts commanding an average annual salary of $129,460.

Underwriters: 

The District of Columbia once again takes the lead, offering underwriters an average annual salary of $110,120.

Personal Bankers: 

New York stands out as the top-paying state for personal bankers, with an average annual salary of $158,040.

High Paying Roles Which Are Available In Major Banks

Here is a compilation of common positions you’ll encounter within major banking institutions, along with their corresponding national average salaries:

These roles encompass a diverse range of responsibilities, from managing transactions and customer service to conducting risk assessments and overseeing branch operations. How many jobs are available in major banks? Can you imagine the loan officer’s job also comes in the first few high-paying jobs in the market?

Exploring Different Career Options In Major Banks

Where to start? So how many jobs are available in major banks for any freshers? Here are the best available job options for any fresher or experienced person.

Bank Clerk

A bank clerk plays a pivotal role in the daily operations of a branch. Responsible for handling transactions, they manage deposits and withdrawals, ensuring accuracy and efficiency. Additionally, bank clerks often serve as the first point of contact for customer inquiries and issue resolution related to balances and products.

Personal Banker

In the realm of personal banking, a personal banker assumes a crucial role. They directly engage with customers, assisting in tasks such as account setup and general account management. Leveraging their extensive knowledge of the banking industry, personal bankers provide tailored advice on financial products, guiding customers toward optimal choices.

Mortgage Banker

When new mortgage applicants step forward, it is the mortgage banker who assesses their eligibility. Through a meticulous evaluation of the applicant’s financial details and regulatory adherence, they determine whether granting the mortgage is prudent and aligned with established standards.

Loan Assistant

Collaborating closely with the loan officer, a loan assistant handles administrative aspects pertaining to loans. This encompasses tasks like document filing, verification of paperwork accuracy, scheduling meetings with loan applicants, and addressing any issues that may arise. The efficiency of the branch’s operations often hinges on the diligence of the loan assistant.

Credit Analyst

A credit analyst wields their expertise in evaluating the creditworthiness of applicants seeking credit accounts. This pivotal assessment entails determining whether the applicant can adhere to the stipulated repayment terms. Recognizing the distinctions between business and individual applicants, credit analyst bases their decision on these discernments.

Branch Manager

The mantle of a branch manager entails overseeing the comprehensive functioning of a specific branch within a major bank. Success in this role hinges on tasks ranging from supervising staff to ensuring swift and accurate transaction processing. A typical day may encompass customer service responsibilities alongside administrative duties like monitoring progress toward loan growth targets.

Internal Auditor

An internal auditor assumes the critical responsibility of evaluating the efficacy of the entire bank branch’s operations. They meticulously scrutinize processes for compliance with legal regulations and industry protocols. Subsequently, based on their findings from financial report reviews and risk assessments, they present evidence and offer advisory input to the bank manager.

Underwriter

Underwriters play a pivotal role in assessing risk for applicants seeking insurance and loans. Beyond approvals, they determine the premium or repayment amounts. Collaborating closely with loan officers, underwriters leverage their expertise to guide the bank in making informed lending decisions that mitigate risk.

Loan Officer

Tasked with ensuring that loan applicants meet suitability criteria, a loan officer conducts comprehensive assessments. This encompasses evaluating creditworthiness and making judgments regarding adherence to loan terms. Additionally, loan officers are responsible for monitoring timely repayments of loans extended by the branch.

Bottomline 

Get complete ideas about how many jobs are available in major banks. If you are thinking of joining this industry then you must keep these all the job categories and the offered salaries. This compendium of roles within major banks encompasses a diverse range of responsibilities, contributing to the seamless functioning of these financial institutions.

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