OVERVIEW
What is a Commercial Banker?
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Commercial bankers are financial professionals that work in client-facing roles, specifically assisting medium- to large-sized businesses. Professionals in commercial banking may be sales-focused, serve as relationship managers, or work in supporting roles as analysts or associates. Through their knowledge and expertise, commercial bankers offer banking solutions and advice about common types of banking products and services, including cash management, credit to support working capital and capital investment, treasury and payment services, and financial planning.
RESPONSIBILITIES
What Does a Commercial Banker Do?
The typical day-to-day responsibilities of a commercial banker can involve tasks ranging from administration to marketing and communication. Some of the common daily duties include:听
- Connecting clients with lenders.
- Developing, negotiating, and closing commercial loans.听
- Managing corporate, government, or institutional accounts.听
- Marketing their bank to attract new clients.听
- Offering financial advice tailored to each client's specific needs.听
- Supplying credit products, such as term loans, cash management services, syndicated facilities, and revolving lines of credit.
- Issuing deposit products, such as checking and savings accounts, certificates of deposit (CDs), and money market accounts.
- Providing business development services such as brand development, financial planning, product development, and marketing.
- Providing lending services, such as commercial real estate lending, equipment financing, and working capital for businesses.
- Delivering specialized services for certain businesses or industries, such as aircraft lending, investment real estate lending, or auto dealer services.
- Providing treasury management services such as disbursement, fraud prevention, and fund collection.
EDUCATION & BEST DEGREES
How Do I Become a Commercial Banker?
Learning about commercial banks is key for individuals interested in pursuing a career in the field. Commercial bankers are typically required to earn a bachelor鈥檚 degree in听accounting,听finance, communications, or another related field, as well as have some work experience in the financial services industry.听
Some financial institutions may offer internships so that prospective employees may learn the hard and soft skills required to succeed in the industry, as well as how to abide by U.S. banking regulations.听
Pursuing a听postgraduate degree听in disciplines such as accounting, economics, business administration, or statistics can lead to better opportunities and higher pay for those already working in commercial banking or can help you begin your career in an advanced position. Consider pursuing a听Master of Business Administration (MBA)听or听Master of Accounting degree听to work at any of the top financial institutions, including JPMorgan Chase and Morgan Stanley.听
Once an individual has completed a bachelor鈥檚 or master鈥檚 degree program from an听accredited university, graduates may obtain licensure as a certified public accountant (CPA) or mortgage loan originator (MLO). Doing so can broaden advancement opportunities for those already working in commercial banking.听 Once you鈥檝e completed any of these steps, you鈥檙e ready to apply for jobs that match your goals of becoming a successful commercial banker.
Best Degrees for a Commercial Banker
Business
Accounting 鈥� B.S. Business Administration
Have a knack for numbers or fine-tuning finances?...
Have a knack for numbers or fine-tuning finances?
- Time: 62%听of graduates finish within 24 months
- Tuition:听$3,755 per 6-month term
- Courses: 41 courses in this program
Skills for your r茅sum茅 you will learn in this program include:
- Accounting
- Finance
- Financial Statements
- Communication
- Detail Oriented
- Research
Take your first step toward CPA certification and learn how to use GAAP, ledgers, and journals.
Business
Finance 鈥� 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%听of graduates finish similar programs within 24 months
- Tuition:听$3,755 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 黑料传送门 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 黑料传送门.
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:听Graduates can finish in 12 months
- Tuition:听$4,755 per 6-month term
- Courses: 11 total courses in this program
Skills for your r茅sum茅 you will learn in this program include:听
- 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鈥攁nd our MBA grads tell us they loved accelerating their program to see a faster ROI.
Business
Accounting 鈥� M.S.
Become better qualified to pursue a greater variety of public and private...
Become better qualified to pursue a greater variety of public and private accounting positions:
- Time:听62%听of grads finish within 19 months.
- Tuition:听$4,755 per 6-month term.
- Courses:听10-11 total courses in this program
This program offers 4 unique specializations for students to choose from, allowing you to gain specific experience and skills that will help you in your career. Choose from concentrations in taxation, auditing, management accounting, and financial reporting to boost your r茅sum茅.
Skills for your r茅sum茅 that this program will prepare you for:听
- Accounting
- Auditing
- Tax Planning
- Financial Management
- Communication
- Data Analysis
- This MAcc program is designed to prepare you for the CPA exam and also the CMA or CIA exams.
How Much Does a Commercial Banker Make?
$104,981
In the U.S., commercial bankers earn an average salary of听. However, compensation varies based on experience and the overall profitability of the financial institution an individual works for. As with any other career, average pay can also vary depending on the city where you鈥檙e employed. For instance, commercial bankers living in San Francisco earn听, or 50% above the national average.
What Is the Projected Job Growth?
4%
Commercial banking offers great opportunities for career seekers in the financial services industry. According to听, commercial banking in the U.S. is ranked first in terms of employment in finance and insurance, with the average commercial banking business employing more workers year after year.
SKILLS
What Skills Does a Commercial Banker Need?
As financial services professionals, commercial bankers specialize in offering banking solutions for mid- to 鈥搇arge-sized businesses with moderately complex needs.听As a result, banks look to employ individuals with specific skills, including:
- Problem-solving听
- Attention to detail听
- Diligence听
- Focus听
- Ability to work autonomously
- Effective written and oral communication听
- Computer and technology literacy听
- Knowledge of accounting fundamentals听
- Knowledge of sales and marketing principles
Our Online University Degree Programs Start on the First of Every Month, All Year Long
No need to wait for spring or fall semester. It's back-to-school time at 黑料传送门 year-round. Get started by talking to an Enrollment Counselor today, and you'll be on your way to realizing your dream of a bachelor's or master's degree鈥攕ooner than you might think!
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Interested in Becoming a Commercial Banker?
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