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Banker : Salary and conditions

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  1. Job description
  2. Salary and conditions
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Case studies

  • Starting salaries: An entry level, customer facing role, such as working on the counter, will receive a salary £15,000 - £20,000. Range of typical salaries for entrants on graduate management trainee programmes: £25,000 - £28,500.
  • Range of typical salaries after 10 - 15 years of experience: £50,000 - £100,000+.
  • Some employers offer a range of benefits including private healthcare, contributory pension, share schemes and life insurance.
  • Part-time, flexible working and career break opportunities do exist. The majority of senior management positions continue to be male-dominated, but an increasing number of females are attaining these positions. Women in Banking and Finance  is a non-profit making leading professional organisation committed to empowering its members in the banking and finance industry to realise their full potential.
  • Promotion opportunities will be enhanced if employees are willing to relocate.
  • Retail and commercial bankers often work in a branch; meeting customers face to face, and directing operations from the offices out of the way of the public. Increasingly though, banking services are offered over the phone and via the internet working in open plan offices, and/or in rows of call centre staff. Whichever is the case, bankers spend a lot of time on the phone, or in meetings.
  • Working hours are traditionally nine to five but those working in branches may also do shifts on Saturdays and Sundays. The working week is 40 hours per week, but those on the management teams, including graduate trainees, will often be expected to work 50 hours or more, and be very flexible to ensure that service levels are maintained.
  • Those working in phone or internet banking may be expected to work shift patterns to provide the 24-hour banking that customers demand.
  • Mangers may be required to attend local business and charitable functions.
  • There are no opportunities for self-employment in banking.
  • Managers may well cover a number of branches, so will need to travel between them. Managers will also be required to attend regular area and regional meetings.
  • Most towns have a number of bank branches, and phone and internet banking service centres are sited all over the country. This means that there are opportunities all over the UK, though these are concentrated in the major conurbation.
  • The opportunities for international travel is rare in retail and commercial banking, but some multinational banks will offer the opportunity move overseas.
  • If you work in a branch then you are likely to be provided with a uniform, other roles tend to require smart business dress.
 
AGCAS
Written by Graham Philpott, University of Reading
Date: 
July 2010
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