Bank Jobs: Expectations Versus Reality

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If you want to apply for bank jobs, you probably have daydreamed about big money, power suits, a posh lifestyle, and other things. You’ve probably also thought about things like long hours, a lack of work-life balance, a bumpy corporate ladder, etc. at the same time.

So exactly where is the sweet spot? How will you figure out if this bank job is right for you and if it’s a good fit for you as well? You must be able to distinguish between hearsay and facts in order to know the answer to that question.

Expectations & Realities of Bank Jobs

By discussing some important expectations and realities of working in bank jobs, this guide will assist you in accomplishing this:

Expectation: You Will Work Ruthless Hours

The Reality of Bank Jobs: There is no easy way to put it, but your 9-to-5 will definitely be stretched. As a newcomer to the industry, you can expect to work anywhere from 60 to 80 hours per week. This could change based on your position, the company you work for, the culture in the country where you work, and where your customers are.

For instance, if you work for international clients, you might need to get up earlier than 9 a.m. The good news, though, is that there are a lot of ways to keep up with such a busy schedule and even learn from it.

Try to think about whether you have trouble managing your time. You may be able to quickly fill in the gaps with the assistance of this exercise. Additionally, consider wasteful activities.

How much time do you spend scrolling through social media or watching low-quality content? You will be better able to devote the time required by your job and anticipate areas for improvement with the help of this analysis. Second, give serious consideration to how badly you want to work in this sector.

The issue with working long hours is that if you don’t enjoy what you do, you’re more likely to complain about your schedule. But if you want to apply for bank jobs and are motivated, the longer hours won’t hurt you as much.

Last but not least, make a commitment to engage in an activity of your choice whenever possible, regardless of your work schedule. The majority of people get burned out when they can’t do what they enjoy and are frustrated by long work hours. Therefore, set aside a set amount of time each week—roughly one to two hours—for doing something that makes you happy and gives you a break.

Last but not least, keep in mind that even though the hours are long, they don’t always have to be brutal. That depends on how well you prepare and think.

Expectation: You’ll Take the Big Bucks Your Home

The Reality of Bank Jobs: One of the highest-paying professions in the world is investment banking. You can anticipate earning $100,000 annually right after school. Bonuses account for a significant portion of I-bankers’ earnings, which only increase as they rise through the ranks. Yes, you won’t be let down if you’re in it for the money, but make sure you’re motivated by more than just money.

Expectation: You will work a boring job

The Reality of Bank Jobs: We would argue that reality is quite the opposite, despite the fact that this can be personal. Regarding the nature of their work, bankers are frequently stereotyped. It is assumed that the job is comfortable but uninteresting due to the intense number crunching behind the screen.

You can interact & collaborate with several clients while working in a bank job. Additionally, you will be working in a fast-paced setting, which can be exciting. Because the job requires you to be a persuasive salesperson who is responsible for raising capital for businesses and working with senior executives, a banker also needs exceptional communication skills.

Therefore, if you have excellent communication and networking skills, working as a banker will not be monotonous. The analytical nature of the job also necessitates creative problem-solving and a curious approach to difficult tasks.

This is both intellectually stimulating and entertaining because it teaches you how to react quickly in difficult situations. As a result, you can abandon this expectation.

Expectation: The Banking Industry is Impassable If You Are Starting

The Reality of Bank Jobs: Yes, bankers typically hold MBAs from prestigious universities and possess superior numerical and analytical abilities. In general, it is hard to break into this industry. But you can get through this process if you have the right amount of knowledge, training, practice, and a winning growth mindset.

First, a program designed by real-world experts, such as this one by FMI exclusively devoted to investment banking, can help you master the technical skills necessary for investment banking. Additionally, you can consult our helpful guide to answering technical interview questions.

Lastly, you can always navigate the hiring process for bank jobs with a combination of high determination and effort, even if the requirements for the ideal candidate are set in stone, like your school and grade point average.

A Final Note

In the end, there are a lot of articles about busting bank job myths on the internet. However, if this is a field you are passionate about, your determination to succeed and focus can overcome any obstacles you face!

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