I'd say if the loan processors get a commission from loan volume (commission, not bonus) then do it, it's a fun gig. I have a former teller that’s now working in a medical office. My float manager is going to have a review with me soon to discuss my development plan. Again this is a complete coding round. But, for many nowadays, those career paths are fast losing their allure. 2. Should I take the $8000 yearly decrease in pay (possibly $10,000 soon)? By Taylor Dupuy Monster Contributing Writer If you find yourself in a career path you regret, you’re not alone. One career path I am looking into is underwriting. You didn't mention anything else about you, so I can't tell if you have the skill sets. As one of the top career choices for new graduates, investment banking tends to tempt many. Only by continually improving and learning will we succeed. If you are aiming for a management career, such positions as financial manager, loan officer, or trust officer may be your goal, but these require at least a college undergraduate degree in business or liberal arts, which could be a pr… I do a ton of loan processing and it's probably my favorite thing to do. Leaving the banking world for something unrelated is totally a valid career path. While the work is still less interesting than critically analyzing deals or investing, there are some benefits to a career in banking: Pros of taking loan processing job: Could be easier to make the switch to underwriting. There's some serious money to be made but I have no idea about the work environment. Bank employees, tell us what goes down behind the scenes, what you like/dislike about the job, and what you wish you could actually say to your customers. I would suggest, at the very least, avoid the mortgage part of the loan industry. Looking for a banking position in a dynamic organization where my skills will be fully utilized. Career progression for Officers in the Banking Sector. However, to make a career in banking, you … Investment banking remains one of the highest paid jobs in the financial sector and is a highly competitive field. We’re sharing the top five, along with what they typically pay. Do not take the pay cut and get a second job, there are other ways into credit / loan without taking a pay cut. Or just kept working until a position opened up? I too wanted to get into the credit / loan side and it's the same, it was a pay cut to move into loan processing so I tried to get into credit / loan but getting an increase in pay along the way. Read on internet the job can burn you out/stress. Aptitude and attitude are essential to your success. Is that really the case? I would have to take a second job. I mean I'm not going to rent a 5000/month penthouse if I come home every night and pass out on my bed. That's crazy that you're make $17/hr as a customer service rep and insane that you'll be making $19 doing it. Changing professional paths away from banking was the best thing I've done. If you can become an underwriter you're significantly better off than a processor and can make a solid living. Increasingly, career experts in publications from Forbes to The New York Times are recommending a different approach: Instead of pursuing your passion, try to develop a passion for a job you can do well. Press question mark to learn the rest of the keyboard shortcuts. Thanks man! Cons of taking it: Huge decrease in pay. Employee turnover is very high every recession, there's a lot of stress that shouldn't be there, and you'll be banging your head against the wall of inexplicable policies every day. Access to top-notch exit opportunities, especially as an Analyst. The Fintech platform had managed to secure a $135 million credit facility from Goldman Sachs in 2019. TD is the sixth largest bank in North America by branches, serving approximately 24 million customers in a number of locations in key financial centers around the globe. Money is going to be the kicker at the end of the day. Investment Banking Career Pros and Cons. There is a well-defined career progression path in each public sector bank. Plenty of undergraduate finance majors and master of business administration (MBA) students consider pursuing a career in … However realistically, what is the point of having an amazing apartment, if you never spend any time in it. I started out in retail banking as a fraud claims specialist, moved to being a phone banker for about 18 months (became a TL / Coach), moved into treasury management as a client service officer for a year and then moved into business banking as a business associate where I am now. The adrenalin of deals (whether you're the client or broker) and the buzz of the trading floor and the pace of change - for the better or worse - means it can provide a highly stimulating career. But I really don't want to be on the retail side long term. New comments cannot be posted and votes cannot be cast. 3. The global balance of business, finance and economics shifts every day which is what makes it so fast-paced, varied and keeps everyone on their toes. I will probably make $18-19/hr in the next few months. This gain in profit is called market making. Potential for quick advancement up the ladder if you perform well. Community, regional investment, commercial or consumer, come on in. Part of why people go into banking vs. any typical "finance analyst" role is the lifestyle. This obsession with investment banking exit opportunities is a U.S.-specific phenomenon, and it makes less sense now than it did in the past. Obey Federal Reserve guidelines to ensure that customers are able to access funds without delay or interruption 5. Under every thread where a big 4 company is mentioned, either on reddit or student room, people always say how it’s overrated and isn’t a great place to start your career. That would be hard to let go to "potentially" make the same thing later down the road. Please review subreddit rules before posting. This position is a person who can do both teller side and desk side so I think that's why it's paid more. If you were a graduate and were offered a job with PwC, would you not take it? I got in at age 37, so no your age doesn't disqualify you. Banking is a career that offers opportunities to students from all streams, be it humanities, commerce or science. The Into City Prep team knows firsthand what it takes to break into top graduate jobs having worked in the investment banking, consulting and investment industries. I was thinking about doing some college coursework in accounting and finance since I didn't take any when I was in undergrad. Trust and Investment Banking — manages money or property for others; Success in Banking. You will often be up against students from Ivy League List of Target Schools A list of the top target schools for investment banking recruiting and hiring. They also buy and sell assets on the financial markets to raise money. I make $17/hr. But it pays $13/hr. Did you do anything extra to become a business associate like taking extra classes or online certs? #1 – Investment Banking. Thousands of global open positions in financial services, investment banking, fintech and more. To become a supervisor for a higher paying loan processor to an investment career. Until a position opened up streams, be it humanities, commerce science. Of loans and is a well-defined career progression path in each public sector.. Got in at age 37, so I think that 's why 's! 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