How to Become A Banker South Africa

A banker a person who manages or owns a bank or group of banks.

Below is How to Become A Banker in South Africa

Pick Your Path

You can work in retail banks and credit unions nationwide, commercial bank divisions with a focus on business needs, investment banks that help firms raise capital, and other types of institutions.

Develop Your Skills

Before you get a job as a banker, it’s critical to be good with numbers. Study math, statistics, or business to build a strong foundation—but don’t ignore “soft” skills. If you can score an internship with a bank or an organization in financial services, you’ll gain valuable experience and meet people who can help you move forward. Customer service and sales skills are also helpful.

Satisfy Requirements

You can potentially work as a teller with a high school diploma or GED, but personal bankers typically need a college degree.2 For investment banking, loan origination, or financial planning, you may need advanced degrees, designations, or licenses to land a job or get promoted..

Get Hired

It’s easy to apply for open positions—and that’s an effective strategy for entry-level roles. But you can also try to create your own opportunities by contacting banks and credit unions that you think would be a good fit and asking about available positions.

Go through the interview process with several potential employers to learn more about your career path and the industry in general.

Move Up and Branch Out

There’s nothing wrong with becoming a personal banker and enjoying a long career in one place. But if you have the desire, you can move into management or director roles, regulatory compliance, or accounting. Taking on additional responsibilities typically leads to higher earnings.

Retail Banking

The household name banks you’re most familiar with are probably retail banks.

Retail banks, located in almost every city, help individuals and businesses with essential financial needs like checking accounts, savings accounts, loans, and more.

What qualifications do you need to be a banker?

Relevant degrees for banking include: business, economics, finance, management or marketing. There are no specific A levels required, but business, economics, statistics and maths would all be useful. A level 3 vocational qualification in business would be most relevant.

What does a banker do in South Africa?

Personal bankers are responsible for helping individual clients manage their money in order to balance financial risks and returns.

Is a banker a good job?

Banking jobs are an excellent fit for anybody interested in personal finance, business, and math. Banks typically provide excellent benefits, opportunities for advancement, and an office environment to work in. Plus, there are a variety of positions that include customer-facing roles and analytical duties.

Is it easy to become a banker?

Becoming a Banker is not an easy task. It takes years and years of education, perseverance, knowledge of finance, hard work, and determination to become a banker in India. Bankers usually get engaged in roles like accepting deposits, making loans and clearing transactions.

Is being a banker a stressful job?

Two out of five of every five banking executives describe their job as “extremely stressful.” Despite the high levels of stress and the depression that comes along with it most banking executives feel like they had better keep quiet and not complain.

Do bankers get paid well?

On an absolute basis, investment bankers. On a per hour basis, investment bankers are not paid nearly as well. With most analysts and associates working over 100 hours per week, their hourly wages can range anywhere between 358.08-501.32 per hour. That’s not bad, but it doesn’t sound as good as R1432339.91a year did.

Is being a teller difficult?

Bank tellers need a variety of hard and soft skills to effectively work with customers, coworkers and supervisors. Most of these skills can be developed through education, on-the-job training and job experience.