5 Cons of Entry-Level Banking and Finance Jobs

January 24, 2020 Stan

Having a banking job is the best way to start out a career in the finance industry. Once you get in, it’s not difficult to keep your job. When you start out as a bank teller, you are considered as a student of the bank. There, you learn the ins and outs of the industry, preparing you for your venture into the bigger world of corporate finance.

Alas, with all the advantages come the disadvantages as well.

1. Fixed Schedule

If you enter the banking industry as a teller, you’ll find that you have no control whatsoever of your schedule. This is in sharp contrast to other financial career paths such as a financial consultant who works whenever he wants. At entry level banking jobs, you work the standard day shift. Even if you want to work overtime for a little bump in your pay, you can’t do so unless there’s a directive from the higher ups.

2. Salary Expectations

If you’re drawn into the world of finance because of the promise of financial freedom, prepare to be disappointed. If you’re just starting out, don’t expect to be paid as much as the veterans are. Instead, use your current situation as a starting position. Work your way up diligently from there. As long as you’re in the banking business, you’re pretty much set if you’re hardworking.

3. Employment Difficulty

As mentioned above, it’s easy to keep your position in a bank once you get in. Getting in is another matter. You may find that it is a little difficult to get employed with a bank. When applying for a teller, a background in customer service is smiled upon although not a requirement. When you do get in, however, the training you receive and the skills you develop can be applied in other career paths.

4. You’re in the Front Line

Entry level banking jobs mean you’re going to be doing the talking to customers. As anyone with customer service experience can tell you, this can be stressful. There will be customers that just can’t be reasoned with. You’re going to need to do a lot of mental preparation to survive it.

5. Potential Hazards

Banks are prone to robbery. It may not happen as frequently as the cliché goes, but it is still a possibility. Most banks offer training on how to handle robberies so you need only follow protocol if such an event happens; God forbid.

If you want to be in the finance industry, there’s no better way to enter than through a bank.