OVERVIEW
What Is a Banker?
Bankers help individuals and businesses manage their finances through services such as processing online payments, completing in-person transactions, and offering tailored loan and investment recommendations. Most professionals in this field earn a bachelor’s degree in business management, finance, economics, or mathematics before launching their banking careers. As trusted financial advisors, bankers help clients make informed decisions that shape their long-term financial success.
There are several career paths including investment banking, personal banking, wealth management, and bank management. Each banking job specialty offers unique responsibilities and career opportunities. Because banking encompasses a wide range of financial services, professionals can tailor their careers to fit interests in customer service, analytics, corporate finance, or investment strategy.
RESPONSIBILITIES
What Does a Banker Do?
Bankers help clients manage their money through transactions, deposits, and investments. Their day-to-day responsibilities vary depending on their role, but most work within one of three main areas of banking: personal banking, commercial banking, and investment banking. In every area of banking, attention to detail, communication, and a commitment to ethical financial practices are key to maintaining client trust and institutional integrity.
Personal bankers often work in small retail bank branches and help clients with their financial needs, helping them build financial literacy and confidence. The responsibilities of a personal banker include:
- Opening checking and savings accounts
- Connecting clients with mortgage and auto loans
- Helping clients with banking and investments products
- Resolving customer concerns
- Offering ancillary financial products to account holders
- Selling Roth IRAs and traditional IRAs
- Assisting clients with retirement and college savings plans
Commercial bankers usually work at larger financial institutions and focus on serving businesses instead of individuals. Because they handle larger accounts and loans, these roles can provide additional opportunities for promotion and career advancement. These professionals often collaborate with business owners to design customized lending and cash management solutions that help companies grow and remain financially stable. The responsibilities of a commercial banker include:
- Performing all duties of a personal banker
- Working with large companies to provide loans
- Evaluating financial risk when accepting large deposits or extending credit
Investment bankers help organizations and investors reach their financial goals through debt issuance and equity sales. Because of the high-stakes nature of their work, investment bankers typically work in fast-paced environments that demand analytical precision and resilience. Their responsibilities include:
- Issuing debt and selling bonds
- Researching market conditions and trends
- Implementing financial plans
- Searching for new business opportunities
- Negotiating new financial deals with clients
Whether working in personal, commercial, or investment positions, the main goal of bankers is to meet the financial goals of customers and clients while protecting the interests of the bank.
Do Bankers Need Certifications?
There are requirements for different types of bankers specific to their role. Retail and commercial bankers typically don’t require certification—but earning one can demonstrate a candidate’s expertise and commitment to the profession. Credentials can also lead to specialized roles in credit analysis, branch management, or financial advising, helping professionals stand out in a competitive job market.
Retail bankers may consider earning a Certified Retail Banking Professional (CRBP) from the American Association for Investment and Financial Management (AAIFM). The CRBP shows that professionals have developed strong retail management skills, adhere to a code of ethics, and uphold AAIFM’s core values.
Investment bankers, on the other hand, are required to obtain specific banking certifications that prove their ability to manage heavy workloads and their understanding of complex markets, risk management, financial analysis and modeling, and accounting.
Certifications for Investment Bankers Include:
- Financial Industry Regulatory Authority (FINRA): Candidates must register with FINRA to work within a brokerage firm. After registering, candidates are also required to take several tests to prove they are qualified.
- Chartered Financial Analyst (CFA): The CFA is a finance certification offered through the Chartered Financial Analyst Institute.
- Financial Risk Manager (FRM): The FRM certification is a course that certifies that individuals are capable of assessing risk management and quantitative analysis.
- Financial Modeling Certification (FMVA): The Financial Modeling and Valuation Analyst certification is a finance certification that ensures individuals can interpret financial accounts and assist clients in financial decisions.
Aspiring investment bankers will also need to pass several exams:
- Series 79 exam: Also known as the Investment Banking Representative Exam, the Series 79 exam tests the competency of registered representatives.
- Securities Industry Essential (SIE) exam: The SIE exam is a FINRA exam that tests the candidates’ knowledge of basic security information and procedures.
- Additional certification courses and exams can be taken as needed to enhance professional qualifications.
EDUCATION & BEST DEGREES
How to Become a Banker
Bankers serve as advisors to help meet the financial needs of clients, individuals, and institutions. They often work with retail banks to maximize profits and limit risks. This career is ideal for those interested in business, math, and finance—and offers strong earning potential and opportunities for career advancement.
Step 1: Earn a Bachelor’s Degree
Most bankers begin by earning a bachelor’s degree in business, finance, accounting, or a related field to build a strong foundation in financial principles.
Step 2: Gain Entry-Level Experience
Starting in positions such as bank teller or loan assistant provides practical experience and insight into daily banking operations. Entry-level banking experience develops core competencies in customer service, compliance, and sales that prepare professionals for advanced roles in finance.
Step 3: Pursue a Master’s Degree
Professionals seeking bank management or investment banking roles often choose to pursue an MBA or related master’s degree to develop advanced finance, analytical, and leadership skills.
Step 4: Seek Advancement Opportunities
With experience, education, and additional certifications, bankers can move into senior roles.
What Are the Education Requirements for a Banker?
Most bankers hold a minimum of a bachelor’s degree, although it’s possible to begin a banking career with a high school diploma through an internship or entry-level positions. However, advancement opportunities and access to management or leadership positions will typically require a bachelor’s or master’s degree in a relevant field.
The most common degrees for bankers include:
- Bachelor’s degree in business management or finance
- Master of Business Administration (MBA)
Professionals interested in banking positions with higher salaries, such as investment banking, will need to pursue a Master of Business Administration degree. Earning a degree in business management or business administration will also help you prepare for leadership opportunities within a banking institution.
Best Degrees for a Banker
Business
Business Management – B.S.
Hone your business acumen and garner added respect:...
Hone your business acumen and garner added respect:
- Time: 61% of graduates finish within 19 months
- Tuition: $3,830 per 6-month term
- Courses: 40 total courses in this program
Skills for your résumé this program will teach you include:
- Business communication
- Product development
- Decision making models
- Project management strategies
- Budgeting for business
This online degree program is an excellent choice for kick-starting your organizational management career.
Business
Master of Business Administration
The flexible MBA program you need, focused on business management,...
The flexible MBA program you need, focused on business management, strategy, and leading teams:
- Time: Graduates can finish in 12 months
- Tuition: $4,805 per 6-month term
- Courses: 11 total courses in this program
Skills for your résumé you will learn in this program include:
- Leadership strategies
- Talent management
- Communication
- Data collection and interpretation
- Financial statements
Our competency-based model gives you an innovative learning experience you won't find anywhere else—and our MBA grads tell us they loved accelerating their program to see a faster ROI.
Business
Finance – B.S.
This online finance program is career-focused so you will gain relevant...
This online finance program is career-focused so you will gain relevant industry skills.
- Time: 62% of graduates finish similar programs within 24 months
- Tuition: $3,830 per 6-month term
- Courses: 41 courses in this program
Some careers and jobs this business degree will prepare you for:
- Management
- Accounting
- Finance
- Spreadsheets
- Financial Analysis
- Problem Solving
The competency-based model at WGU allows you to move as quickly as you can master the material, and do your coursework on your schedule. Flexibility is key with the B.S. in finance at WGU.
How Much Does a Banker Make?
$101,567
According to Salary.com, the average annual salary for a banker is $101,567 as of October 2025. Exact income varies based on a range of factors including education, experience, employer, and location.
What Is the Projected Job Growth?
3%
The U.S. Bureau of Labor Statistics projects a 3% growth in employment for securities, commodities, and financial services sales agents, which includes investment bankers, from 2024 to 2034. This represents around 38,100 job openings each year over the decade. Investment bankers will continue to be in demand to provide expert guidance on mergers, acquisitions, and other financial matters in a growing global economy.
SKILLS
What Skills Does a Banker Need?
Bankers rely on a mix of technical, analytical, and interpersonal skills to effectively manage finances and build client relationships. Some of the most essential skills include:
- Microsoft Office proficiency. Bankers regularly use programs such as Excel and PowerPoint to organize data, create presentations, and analyze financial information.
- Sales experience. Many employers prefer bankers to have sales experience to better promote financial products and services to both new and existing clients.
- Numerical skills. Bankers need a solid understanding of math and finance to accurately calculate equations like APR rates and loan terms.
- Time management. Investment bankers often work long, demanding days and must be highly organized to manage deadlines and multiple clients.
- Communication. Bankers regularly communicate with clients, customers, and colleagues to explain complex financial situations and ensure processes run smoothly.
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