Motivating Factors in the Banking Industry - Essay Example

The paper "Motivating Factors in the Banking Industry" is a perfect example of an essay on finance and accounting. The banking industry is the fastest growing industry in the modern economy (Anonymous 1). As people become educated and earn more and more income, they learn to appreciate the importance of banks in managing their resources. There are various factors that have motivated people to apply for a job in the banking industry, especially as traders. The banking industry is a successful trader that deals with currency exchange, offering credit, investing in real assets shares, and bonds among others. Today, workers are motivated by different intentions. However, a trader is motivated by the high business performance because of this guarantees high profits, and good future business prospects.

Motivating Factors in the Banking Industry

            Banks offer many jobs in areas like marketing, communication, to more specialized services whose charm would not hurt (Anonymous 6). Many of the jobs in the banking industry are more concentrated in the area of marketing. Traders are hence more likely to benefit from jobs in the banks because marketers bring clients into the banking system thus giving room for growth and expansion, which are the main goals of any trader.  In periods of tough economic conditions, banks usually merge in order to minimize the effects of the economy like inflation. The combined resources add their strength. From marketing to communication degrees, it is quite resilient and diverse to allow people to financially gain from all the opportunities, thus ensuring their own, and client’s’ financial security.

            Banks also offer loans to its customers that help them to develop financially. This develops the communities they serve, which has positive benefits for the economy. The loan is paid back with an interest, which is profits to the bank. Commercial and mortgage loans are the most beneficial to the bank and society as a whole. Traders can easily access commercial loans from the banks as long as they show good financial statements for their companies. Working in the banking industry endures personal development. One gets motivated by a large number of successful traders. Handling large sums of money every day motivates banking employees to work hard and become stakeholders in such institutions.

            Banks usually invest in real estate, bonds, and securities. These are very secure strategies that ensure business survival. Such strategies ensure that money is never lost and hence, traders are guaranteed a regular and stable income.  On the other hand, many banks are well insured by reputed insurance companies. In case of any loss, compensation is thus ensured, and this increases the traders’ confidence. Many people, today, trust the banks so much that they have entrusted their wealth in the banking industry. Consequently, the probability of accessing a large number of customers from all the sectors of life is very easy. This offers important and enormous benefits to traders who invest in the banking industry.

Conclusion

            The banking industry offers the best salary and other remunerations to its employees. According to anonymous (2), the banking industry is the most well-paying industry among all the other industries. Therefore, applying for a job in the banking industry will offer a trader the best results, and hence satisfaction. As a trader, it is very easy to make money and the bank offers the best services of managing the money. People’s financial wealth needs to be effectively managed, as some traders become millionaires overnight. Additionally, before giving loans, Loan officers help organizations, businesses, and individuals to acquire loans by helping them in the application process. When organizations and businesses expand their operations using the loan, economic development is also enhanced. Loan officers provide the bank with useful information concerning the credibility of loan applicants to reduce risks and increase repayment probability.