Corporate bankers provide advice to commercial and private clients about a variety of financial matters and promote financial services/products, to help these clients run their operations. Benefits may include company cars, low rate loans and mortgages, non-contributory pension schemes, private health insurance and profit-linked pay.
What does a corporate banker do?
Corporate bankers are like retail bankers , but they deal with companies rather than everyday people. Their clients range from small and medium sized companies to huge conglomerates. The products they offer include treasury services, loans and credit, trade finance (such as letters of credit), and employer services (such as payroll).
Corporate bankers are employed by clearing/commercial banks, the Bank of England and other banking sector firms. Their responsibilities include:
- meeting with and interviewing corporate and personal customers, discussing their financial requirements, and providing appropriate financial advice
- advising corporate clients about mergers, acquisitions, capital markets etc
- preparing lending agreements
- promoting the bank’s services
- planning and problem solving
- writing reports
- managing projects
- training and supervising junior banking staff.
A career in banking provides high levels of responsibility, good promotional prospects and impressive financial rewards for the most successful employees. However, in return, very long hours of work and high levels of stress are common. Regular travel, absence from home overnight and overseas work may also be required.
Corporate banking is a popular career choice and graduate vacancies are highly sought after. Most opportunities arise in London and other major UK and international cities.
There are routes into this career for both university graduates and school leavers. Graduates will need a good honors degree, preferably in a business-related subject such as economics, business studies, math or management, to get onto a bank’s graduate scheme.
There are also opportunities for school leavers, who can enter the profession in customer service roles and work up by gaining experience and professional qualifications.
Relevant paid or voluntary experience gained via job shadowing, vacation work and internships are particularly beneficial.
Key skills for corporate bankers:
- Analytical ability
- Numeracy skills
- Verbal and written communication skills
- Very good interpersonal skills
- Negotiation skills
- Attention to detail
- Ability to prioritise, manage time and work under pressure
- Willingness to work long and unsocial hours.
Recommended IBDP subjects needed to apply to university to study banking: