Banker and stockbroker are two financial services jobs that may seem similar, but they differ widely in many significant aspects.

Of major importance for both jobs is the temperament of the job holder. Among the personality traits required by both positions are attention to detail, a facility with mathematics and numbers and an outgoing, friendly and helpful nature when dealing with the public. But both bankers and stockbrokers must be team players, because of the necessity of interacting with company colleagues.

For more, see Find Your Niche In The Financial Industry. Brokers And Online Trading. Bankers Job Description Banking is a complex business employing personnel in a variety of positions. Among these are tellers, who deal with the public face to face, administrative, accounting and secretarial people, security department personnel and a maintenance staff. Although these employees work in the banking industry, they cannot accurately be called bankers.

For our purposes, we'll broadly define the term banker to mean personal bankers, loan officersbranch managers and management personnel higher up the corporate ladder.

The personal banker acts as an all-purpose liaison between the customer and the bank, providing — in most cases — whatever service the customer needs. This may include help with loan or mortgage applicationsthe buying and redeeming of certificates of deposits CDsthe depositing and withdrawal of funds, checking account transactions and helping with other customer needs.

Questions and problems which arise in the course of customer relations with a bank may also be answered and resolved by a personal banker.

Difference between Investement banking, and Stockbroking? - The Student Room

So the position is critical to the success of a commercial bank because of its close and ongoing contact with depositors and customers. Many banks also offer brokerage services for the buying and selling of equities, U. Treasury notes and other investment vehicles and charge the customer a commission for implementing these transactions, which are usually facilitated by a personal banker. Education and Personal Skills Like most jobs in the banking industry, a personal banker should have an education — preferably, at least a bachelor's degree — in business, finance, accounting, economics, business administration or mathematics.

Because a personal banker deals with the public, an outgoing and helpful temperament is desirable. Patience is also a requirement, since customers may be demanding and impatient. Experienced personal bankers with the appropriate education are often promoted to positions of more responsibility and higher compensation.

Branch managers and loan officers — often the two jobs are combined — require a more comprehensive background in finance, business and or accounting. Managerial and analytical skills are used in this position if the branch manager is also a loan officer. On the managerial end, the branch manager oversees all operations of the bank branch, from building maintenance to the accounting and loan departments.

In exceptionally large bank branches, the loan officer or officers may be separate from the branch manager. The loan officer analyzes the credit worthiness of a potential borrower by checking the customer's net worthcredit ratingjob history and compensation, collateral and other factors that affect credit. For more, see Compensation Myths: Compensation At a major international or domestic bank's corporate headquartersat senior management levels, including vice presidents in such categories as customer relations, accounting, business offer bid stock market, credit card division, marketing-advertising, chief financial, chief operating or chief executive levels can earn six- to seven-figure salaries, plus performance bonuses forex desktop quotes stock options.

These jobs can be very lucrativeespecially if the bank posts profits and gains over previous quarterly or yearly earnings. Post graduate degrees, years of experience and outstanding successes in managerial positions are the usual requirements for these highly paid positions. Stockbrokers Job Description A stockbroker acts as the interface between investors, stock traders and brokerage firms, conveying orders to buy and or sell specific stocks.

The stockbroker usually interacts with clients via telephone, so a friendly, outgoing salesperson's temperament is also a requirement for this position, which entails so much public contact. Among the principle daily duties of a stockbroker are the servicing and managing of his clients' stock portfolios, trading difference between investment banking and stockbroking a client's behalf without consultation if the client has a discretionary accountsoliciting money earned by manny pacquiao business and consulting with the research department difference between investment banking and stockbroking his brokerage firm to determine the best trades — the buying and or selling of specific stocks — for his clients.

In many forex exit strategies pdf, the broker may also act as a financial advisor. Education A college degree in some business or finance-related area is desirable, but not necessary to become a stockbroker. There are also licensing requirements for becoming a stockbroker, which include an examination to become a licensed General Securities Registered Representative.

This entitles the license holder to act as broker on behalf of customers, known as the Series 7. Compensation Because a stockbroker's compensation is based in large part on commissions, earnings theoretically may be unlimited.

Brokers who handle large accounts, including institutional portfolios or pension fund accounts, may earn six- and seven-figure incomes. The Choice Is Yours The principle difference between a banker and a broker is that the banker is an administrator and the broker is a salesperson. Although personal bankers interact with the public, they are not usually sales people. Bank personnel whose function is to generate new business or deposits, however, may be categorized as sales people because com invest and binary options are marketing banking services.

Among the similarities between bankers and stockbrokers is the requirement that both must be team players because of the necessity of interacting with support and supervisory personnel in the highly structured corporate environment of banks and brokerage firms. Stockbrokers are answerable to their clients. And even the president of a large multi-national bank is answerable to his board of directors and ultimately to shareholders.

Both of these occupations offer potentially substantial compensation for employees who graduate beyond entry and mid-level positions and demonstrate commitment, ability, integrity and productivity. To learn more, check out Swim With The Sharks As A Stockbroker. Dictionary Term Of The Day. A measure of what it costs an investment company to operate a mutual fund. Latest Videos PeerStreet Offers New Way to Bet on Housing New to Buying Bitcoin? This Mistake Could Cost You Guides Stock Basics Economics Basics Options Basics Exam Prep Series 7 Exam CFA Level 1 Series 65 Exam.

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Which Career Is Right For You? By Marc Davis Share. Brokers And Online Trading Bankers Job Description Banking is a complex business employing personnel in a variety of positions.

Discover the job duties and typical salary of a personal banker, and identify the education and skill set needed to be successful in the field.

Discover what a career in private banking entails, including a job description, education and training, necessary skills and licensing, and an average salary. Discover what kind of work private bankers do, and learn more about how you can develop the experience and qualifications required to work in the field. Examine the two potential career options of investment banking and private banking, with an eye toward choosing the most suitable career.

Identify what investment bankers do in a typical work day, learn what skills are needed to be successful and understand how investment bankers get paid. Read an in-depth comparison about working as a Financial Analyst vs.

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Discover why many finance professionals are wondering whether an investment banking career is worth it. Consider the challenges of this profession.

An investment banker works for a financial institution that helps companies, governments and agencies raise money by issuing securities. Discover how to prepare for your next personal banking job interview by showing your passion for personal finance and desire to help people reach their goals. One of the great attractions for many that become stockbrokers, is that there is no such thing as a typical day.

Compare average annual salaries of investment bankers based on position. Different levels of the career result in different Find out what a banker's acceptance is, how it works, and why it should be considered a safe and liquid money market instrument. Discover what a banker's acceptance note is, how it is commonly used, and where investors can find information on available An expense ratio is determined through an annual A hybrid of debt and equity financing that is typically used to finance the expansion of existing companies.

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A macroeconomic theory to explain the cause-and-effect relationship between rising wages and rising prices, or inflation. A statistical technique used to measure and quantify the level of financial risk within a firm or investment portfolio over No thanks, I prefer not making money.

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