Banking: Pros & Cons

Have you ever heard of working banker's hours?  What does that mean anyway?  Let's take a look at available positions that you may find at your local banking branch and some pros and cons that come with the work.  Each financial institution is a little different, but they follow government established guidelines.  I speak to my experience working in this industry.
When you think of banking, the most common position that comes to mind is usually teller, but there are a multitude of positions.  These opportunities have an enormous range and could require no previous training or advanced degrees in finance.  More common positions include teller, banker, branch manager, wealth consultant, or loan officer.  Other positions within the corporation could include Human Resources experts, call center representative, web design or app developer, marketing and promotional workers, loss prevention, and even training and education specialists.  Some of these positions do require you to move to a city where the bank you are working with has a hub, which is something to consider depending on the career pathway that you choose.
I found one of the most difficult parts of banking was that most consumers do not understand how banks work.  For instance, banks keep limited amounts of cash on hand to help mitigate losses in the event of a robbery.  If you ever want to withdraw a large amount, you should call ahead so the bank can order it in for you.  
​Another issue was that people don't understand why all bank accounts aren't free.  They forget that banks are businesses and they make money based on their services.  There are opportunities to waive most bank fees if you have a certain amount on deposit or if you have monthly direct deposits.  Banks make money on offering different services, however, since they are able to use funds on deposit to earn interest they are often able to reimburse certain monthly charges.  They base their models on making this money on the backend not necessarily on small fees that occur, this is why if you ever have an overdraw charge or a late fee if you call and ask for a customer courtesy waiver, they will often (Not, always, so don't "bank" on it.) refund your charge if the issue was immediately addressed.  It never hurts to ask.

Pros

• ​Hours - Ahh banker's hours!  Depending on your specific branch, you may only be open 9-5 Monday through Friday.  Some banks even take a half day on Wednesdays.
• Holidays - Banks are closed for roughly ten federal holidays throughout the year.  That is like having a built in extra two weeks of vacation.
• No Take Home - Bank work is confidential and taking things home is highly frowned upon which helps with the "have it all" moms and work-life balance in general.
• Benefits - I can't speak for all institutions, but in my experience benefits were great, even for part-time employees.  There was even a rollout of a new parental leave plan where both mom and dad were allotted several weeks of leave time to use during the child's first year.
• Work conditions - Inside at a desk all day was comfy for me, but if your fidgety, this may count as a con for you.

Cons

• ​Sales - This really depends on your outlook.  I don't care for sales and quotas and really felt pressured to sell accounts, credit cards, and loans.  There is an upside though.  Higher sales came with monetary bonuses, so if this is something you enjoy, feel free to consider it a pro.
• Pay - There are huge differences depending on your position.  If you plan to stick around for the long term and move up, there is great earning potential, but if you are starting as a teller beware that even though you are surrounded by money, you may not be taking much home.
• Fast Paced - Customers don't like to wait and there are times when you may be covering drive up and a lobby customer and answering phones.  It is important to be fast, friendly, and accurate.
• Stress - You will be trained what to do in the event of a robbery and this is always a possibility.
• Attention to Detail - Banks are very strict.  All documents need to be accurate and you need to guard your cash drawer and keep everything locked up at all times.  All the procedures can be tricky if you are not attentive.

Does finance sound like fun?  Check out your local banks for openings.