The Advantages of Being a Banker

Bankers enjoy good pay and a comfortable work environment.

Bankers enjoy good pay and a comfortable work environment.

The lifestyle of a banker has long been the object of envy. The term "banker's hours" originated in the 19th century to mean a very short business day, which accurately reflected the practice of banks at that time. Today the term has evolved to mean working or being open for business for the shortest amount of time, including a long lunch break and being closed for every holiday. While bankers today still enjoy above-average pay and excellent working conditions, very few work the banker's hours their predecessors did.

Good Pay

Almost all positions at a bank above the level of teller pay reasonably well. According to the Bureau of Labor Statistics, loan officers earned a median annual salary of $59,820 in 2012. Financial analysts, who help banks decide where to invest their money, earned a median annual salary of $76,950 in 2012. Financial managers, such as banking executives, took home $109,740 annually in 2012.

Generous Benefits

Bank employees, especially senior bank employees, typically have generous benefits packages that pay most or all of your health insurance premiums, matching 401(k) plan contributions and paid vacation. The employment contracts of senior bank executives also frequently include performance-based incentives and bonuses. You can also count on most larger banks to cover the costs of financial industry-related certification programs or continuing education for employees.

Comfortable Office Environment

Bankers work in climate-controlled offices, and are not exposed to the rigors of manual labor or the weather. Depending on their job description, bankers might spend a great deal of time sitting in front of a monitor or using a laptop, and if you work as a banker, you will likely spend a lot of time on the phone and in face-to-face conversations with clients. Some bankers are required to travel occasionally.

Job Security

You will enjoy relatively good job security as a banker. The bureau reported that job growth for financial analysts was projected to be a robust 23 percent from 2010 to 2020. Employment prospects for loan officers are almost as good, with the burea anticipating 14 percent growth in that same decade. Financial manager job prospects are a little below average at 9 percent through 2020.

 

About the Author

Clayton Browne has been writing professionally since 1994. He has written and edited everything from science fiction to semiconductor patents to dissertations in linguistics, having worked for Holt, Rinehart & Winston, Steck-Vaughn and The Psychological Corp. Browne has a Master of Science in linguistic anthropology from the University of Wisconsin-Milwaukee.

Photo Credits

  • Comstock/Comstock/Getty Images