How do I become a banker?

Contents

With almost 370,000 employees, the banking sector is one of the largest employers in the private sector. In 2020, more than 21,000 people were taken on. While developments in the sector are the main reason for this, the large number of people retiring has also played a part. It is estimated that 50% of new hires in the banking sector are young people under the age of 30!

Definition

What does banking involve?

The job of a banker involves advising customers and managing their banking transactions. Bankers are the first point of contact for customers, offering them banking products tailored to their needs, whether for individuals, professionals or businesses. They are responsible for opening accounts, granting loans and advising on asset management.

They may also be called financial advisers, account managers or banking advisers. Their customers may be private individuals, professionals (self-employed, craftsmen, etc.) or companies. Their job title often changes depending on the type of customer (business customer manager, corporate customer manager, individual customer manager, private banker, etc.).

To become a banker, you generally need to have a minimum of 2 years’ training in finance.

Whether opening accounts, providing management advice or arranging loans, bankers are constantly in direct contact with their customers to manage their financial assets on a day-to-day basis.

Sometimes faced with complicated financial situations that they have to manage, bankers have to be good listeners and psychological experts to help their customers find the best solution. By studying their customers’ financial situation, they can then make proposals to optimise their financial assets.

Bankers generally work for banking and financial institutions such as stockbrokers, merchant banks and deposit banks. Bankers may also be recruited by large companies or private management companies. They may work at the bank’s head office or in a bank branch (open to the public).

Skills

What can bankers do?

welcoming customers to the bank
monitor customers’ bank accounts on a daily basis
contact customers in the event of a problem
manage its customer portfolio
inform customers of new banking products that may be of interest to them
sell financial products and services
analyse your customer’s credit risk
apply for credit
negotiate overdraft facilities
negotiate rates with customers
negotiate contract adjustments
building customer loyalty
offer financial investments to optimise customers’ banking assets
prospect for new customers.

Studies

How do I become a banker?

You will need to have at least a Baccalaureate +2 level if you want to manage private customers and a Bac +4 / 5 level if you want to manage a portfolio of large accounts (private customers with a lot of capital or large companies).

However, it is important to note that in 2022, 60% of job vacancies for bankers will be filled by people with a 5-year higher education qualification.

Interview with Victoria | CIC’s work-study programme in Wealth Management

Interview with Pierre | Work-study programme at LCL in Corporate Credit Analysis

Which A-levels do you need to be a banker?

To become a banker, you’ll need to start with an STMG, general or vocational baccalaureate. If you want to enrol for a BTS in Banking, the figures show that nearly 45% of students enrolled have an STMG bac. This is followed by holders of a vocational baccalaureate (14%) and students with a general baccalaureate. While the choice of baccalauréat may not seem so crucial, it is important to note that banking professions require you to be comfortable with numbers. So we advise you to choose a baccalauréat that will enable you to master this skill.

Become a banker in 2 years

After your baccalauréat, you canenrol on a Brevet de Technicien Supérieur (BTS) in the banking sector to specialise directly. The main aim of the BTS is to make students professional and operational in a short space of time. This 2-year course will give you access to banking jobs involving the management of a portfolio of private customers. Here is the list of the main BTS courses concerned:

Banking BTS
BTS in Customer Relations Negotiation and Digitisation (NDRC) or Customer Relations
BTS in operational sales management (MCO)
BTS in business unit management (MUC)

Become a banker in 3 years

This 3-year course is designed to prepare you for the banking sector with a view to further study. Whether it’s a BUT (Bachelor of Technology – formerly DUT), a licence pro ora bachelor’s degree from a business school, your training will be more focused on reflection and writing than on practice.

It should be noted, however, that this route is generally accompanied by a compulsory work placement or sandwich course in 3rd year, enabling you to acquire greater knowledge of the field. This period of professionalisation will enable you to enter the job market after you have obtained your 3rd year diploma. Here is the list of the main courses concerned:

Bachelor of Finance
Bachelor’s degree in banking, finance and insurance
Bachelor in Financial Management
BUT marketing techniques
GOAL GEA
Degree in insurance, banking and finance: account manager

Have a position of responsibility in a bank with 5 years’ study

If you want to manage a portfolio of large companies or work in management positions in banking, you will need a Bac +4 or Bac +5 level qualification. The Bac +5 level will enable you to obtain a Master’s degree, accessible via 2 routes: university or business school. Here is the list of the main courses concerned:

Master 2 in law and finance
Master 2 in political science with finance option
Master’s degree in wealth management
MSc Banking Digitalisation & Financial Management
MSc of Science Investment Banking & Financial Engineering
MSc Financial Markets & Trading

Profile

What qualities are needed to become a banker?

To be a banker, you need certain “soft skills”:

Good interpersonal skills: it is important to be able to maintain good relations with customers in order to build loyalty
Commercial acumen: one of the banker’s main tasks is to sell financial products and services, but also to negotiate, so it is essential to master commercial techniques.
Autonomy and the ability to make suggestions: being a banker means optimising your customers’ financial portfolios. To do this, it is important to know how to analyse your customers’ accounts in order to advise them.
Be rigorous and organised: managing a portfolio of customers can quickly become complicated if your working methods are not strict and planned.
Be comfortable with numbers: this goes without saying, but managing a financial portfolio means first and foremost managing money.

Salary

How much does a banker earn?

It is important to note that a banker’s remuneration is based on a fixed part and a variable part that will depend on your results over the year.

For the fixed part, the salary obviously depends on factors such as your experience in the field, the geographical area of your company and its size.

As an estimate, a junior banker with 3/5 years’ higher education can expect to earn a gross monthly salary of 2,400 euros (28,000 euros gross per year). Over the years, a senior banker can earn an average of 75,000 euros gross per year, or 6,250 euros gross per month. Banks often add a 13th or even 14th month’s salary to this, as well as end-of-year bonuses (sales bonuses, profit-sharing).

The higher the level of education, the higher the expected salary and the greater the opportunities for career development. It’s a long-term human investment.

For the variable part, depending on the individual and collective sales achieved within your agency, you can expect to earn between 5 and 20% of your fixed salary.

A great career awaits you!

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