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A person looking to become a business banker will need to be able to access the banking needs of the business community. Most entry-level business banker careers require that individuals have a bachelor's degree in finance, business, or marketing. A master’s degree in business administration or finance will often be required for the higher-level executive jobs. Although the path to become a business banker is fiercely competitive, it can be a lucrative career for the few determined individuals who are able to endure an intense work schedule.
Business bankers are responsible for serving the banking needs of the business community. This can entail operating on the transactional side of the banking industry, which would include servicing businesses in the arena of acquiring small business loans, lines of credit, and a variety of deposit accounts. If one chooses to operate on the investment side of the industry, business banker duties will include assisting clients in raising equity capital and making strategic investments that would help to fulfill the goals of the client.
Individuals looking to become a business banker must be aware of the fact that many of their clients will need services that will require that the banker to be licensed in order to provide. To fully service the needs of their clients, anyone looking to become a business banker will eventually need to acquire securities and insurance licenses. Many business bankers in the U.S. choose to acquire a Financial Industry Regulatory Authority (FINRA) Series 7 license, which allows them to serve as a general securities representative for the solicitation, purchase, and sale of any security product, including corporate stocks.
The commercial banking industry is huge and anyone looking to become a business banker will have a variety of sectors to choose from as the starting point for a career. These bankers serve a multitude of clients, including large corporations, small businesses, and governmental agencies. Individuals looking to enter this field will often have the greatest chance of success if they have good understanding of fundamental business principles, great oral and written communication skills, and a great work ethic.
Those looking to become a business banker will need to have a minimum of a bachelor's degree, but in this competitive industry, one should seriously consider acquiring a graduate degree. Security licenses and certifications will also help to position aspiring business bankers in a positive manner and could be the deciding factor in a job offer. Although educational qualifications can assist individuals who are looking to enter this field, it will be their tenacity and work ethic that will ultimately make them successful.
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