Academic journal article ABA Banking Journal

Career Opportunities in Banking

Academic journal article ABA Banking Journal

Career Opportunities in Banking

Article excerpt

While job prospects for new graduates aren't bright in many sectors of the economy, employment in the financial services industry is expected to grow.

"The financial services sector will continue to play a key role in creating jobs in the U.S. economy over the coming decade," says ABA Senior Economist Keith Leggett. "With investments in expanding bank branch networks--along with internet banking, 24-hour call centers, and consolidation--banks will need to attract and retain qualified employees to meet their customers' financial needs."

According to a recent ABA/ABA Banking Journal Community Bank Competitiveness Survey compliance, trust and information technology officers will be the three most difficult positions for community banks to fill in the coming years. Rounding out the top tire are business lenders and sales/business development managers. Additionally, insurance and investment sales employees will become a priority as more banks offer the services.

The Labor Department's Bureau of Labor Statistics predicts that employment in the financial services sector will grow by 12.3%, adding almost 1 million additional jobs between 2002 and 2012. As banks add branches and expand product offerings, the demand for qualified employees will also increase. …

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