Around 8.56 million people were employed in the financial services industry as of May 2021. According to the Bureau of Labor Statistics, around 6.4 million people were employed in the banking services industry in 2019. The major share of jobs in the banking and finance sector was financial managers, tellers, and credit counselors. In terms of job postings, a total of 84,653 job vacancies were recorded in the United States in October 2022. In this article, we take a closer look at various career opportunities in the banking and finance sectors.
Government Jobs With Banking Experience
There are many opportunities for individuals with banking experience in federal as well as local governments. Vacancies include jobs such as financial analysts, accountants, tax examiners, and financial analysts. The pay scales for government jobs vary depending on the area of specialization and educational qualifications.Apart from the typical pay grade offered in most federal government departments, there are agencies, such as the Securities and Exchange Commission and Government Accountability Office, that could net you a higher pay grade. This may not be on the level as someone in investment banking, but there is a higher level of stability in a public sector job.
Some government jobs available to anyone with experience in banking include:
- Budget analyst—This kind of analyst is involved in analyzing and organizing finances for the government. The job profile includes preparation of budgets and the monitoring of institutional spending, among other tasks.
- Actuary—An actuary applies statistics and financial theory to make an analysis of various scenarios that are of high risk and uncertain, and, consequently, develops appropriate government policies to respond to these scenarios.
- Financial institution examiner—The job description involves ensuring the compliance of laws that govern financial institutions and transactions. Other responsibilities include evaluating risk level for loans, reviewing balance sheets, and making an assessment of bank administration.
- Loan officer—This person is responsible for evaluation, authorization, or recommendation of loan applications on behalf of the government.
READ MORE : Is It Time To Get a New Credit Card?
