Financial Institution Officers and Managers
Overview
Introduction
Financial institution officers and managers oversee the activities of banks and personal credit institutions such as credit unions and finance companies. These establishments serve business, government, and individuals. They lend money, maintain savings, enable people and businesses to write checks or make online payments for goods and services, rent safe-deposit boxes for storing valuables, manage trust funds, advise clients on investments and business affairs, issue credit cards and traveler's checks, and take payments for gas and...
Quick Facts
Median Salary
Employment Prospects
Minimum Education Level
Experience
Skills
Personality Traits
Earnings
Those who enter banking in the next few years will find their earnings to be dependent on their experience, the size of the institution, and its location. In general, starting salaries in financial institutions are not usually the highest, although among larger financial institutions in big cities, starting salaries often compare favorably with salaries in large corporations. After five to 10 y...
Work Environment
Working conditions in financial institutions are generally pleasant. They are usually clean, well maintained, and often air-conditioned. They are generally located throughout cities for the convenience of both customers and employees. Working hours for financial institution officers and managers may be somewhat irregular, as many organizations have expanded their hours of business. Approximatel...
Outlook
Employment for financial managers in credit intermediation and related activities (which includes commercial and savings banks) is expected to grow much faster than the average for all occupations through 2028, according to the U.S. Department of Labor. As the economy continues to grow, demand will increase for financial managers to assist companies in planning, directing, and coordinating inve...
