But whatever the economic climate, there is still a need to meet the demands of high net worth customers. We are once again seeing opportunities for banking professionals who have the skills and ability to deliver superior service and products that are personalised to clients’ needs.
How to get into a banking career
The main route to a career in private banking or wealth management is one of the many graduate schemes available. These are highly competitive and success is as much about personality, imagination and readiness to adapt as it is about qualifications. Although less common, there are sometimes openings available for school leavers with A-level qualifications.
For experienced candidates there is always a need for successful bankers, especially if you have good connections and an impressive client base. Although demand has lessened and many investment and personal bankers have found themselves out of work, we are seeing demand for experienced professionals once again start to rise.
Hard work leads to high reward
Private and investment bankers have the ‘work hard, play hard’ reputation. A career in private banking is not 9 to 5, where long hours are the norm. But while late nights and hard work are expected, for those who have the staying power, the rewards are worth it.
While there is likely to be a greater focus and more regulation of bonus payments for bankers, the salary and rewards on offer for those that are successful will still be tempting.
Outstanding banking relies on outstanding support
Bankers’ success relies on their support and training staff, so private banks have head office support functions and regionally based support professionals across their networks.
Business leaders need dedicated support and training so they can develop and empower their staff. This highlights the importance of high quality experienced professionals who enable the bankers to maximise revenue. Typically these roles include:
- Training and coaching managers
- Sales and service coaches
- Learning and development managers
- Regional performance managers
- Area performance managers
- Control managers
- Service and control managers
- Branch rigour managers
- Internal audit and compliance managers
- Area or regional directors
- Sales support managers
If you are in a career in private banking or investment banking – or in one of the many support roles – get in touch with your local Hays Banking recruiting expert.
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