Nearly two million Americans work in commercial banking, and at any given moment, there are tens of thousands of commercial banking jobs available to candidates seeking a rewarding career as a credit analyst, loan officer, business development manager, general manager, or branch manager.
You can be one of those candidates, regardless of how many jobs may or may not be available in commercial banks now or in the future.
The prospects haven’t always been promising.
In the last five years alone, commercial banking employment dropped almost one percent, and the rebound growth isn’t as high as it is in other industries, but that’s no reason to shy away from commercial banking. In fact, there’s no better time to embrace this industry. The jobs in commercial banking are almost recession-proof, and the industry expects to see steady growth over the next decade.
Additionally, commercial banking employees should see a parallel increase in their compensation packages.
On average, commercial bankers in the United States earn a median income of $95,860. Salaries vary according to geographic region and the size of the institution — as well as employee education, certification, and experience.
Currently, more than two million people have found employment in commercial banking. That number is expected to grow by 4.7% or 97,300 jobs over the next six years, making the need for exceptional commercial banking candidates an area of focus.
To be considered a candidate in commercial banking, you’ll need skills like these:
- An aptitude for working with clients as well as numbers.
- A higher education degree in accounting, finance, or a similar field.
- A willingness to embrace digital technology as a way to support customer relationships rather than segment them.
- An affinity to scale up institutional transformation and make a difference.
- A belief that you work for the greater good through local and global community outreach programs.
- Developing agile leadership skills that can steer an organization through tumultuous times.
With the right combination of skills and experience, you, too, can be a part of the commercial banking industry.
A Final Note to Prospective Candidates
Don’t let yourself be discouraged by the numbers compared to other faster-growing industries.
The seemingly stagnant or declining numbers of available positions in commercial banking will not prevent you from entering this industry and developing a rewarding career.
If you have had a strong education, gained hands-on experience along the way, and have developed top-notch skills, you’ll always find work in commercial banking.
Follow your dreams and stay in contact with a recruiter who knows how to connect you to the commercial banking positions that might interest you.
Are you just starting out in the commercial banking industry or are you planning to switch roles? The Anderson Search Group can help you find the company that’s the right match for you.