Considering banking as your career of choice in Kenya? Read On:

So you already earned a college degree and are seriously considering Banking as your career of choice? In this blog, I will try and shed light on the possible career path and development in the banking Industry.

Banking is a critical player in all facets of an economy, and demands the highest possible levels of personal integrity, ethics and honesty. Banks are also actively involved in CSR programs at all levels, but mainly Education, Health, Water and Sanitation.

Banking industry prospects are strongly correlated to the ups and downs of the economic cycles. Everyone needs a bank account and a casual observation shows that bank profits in Kenya and the region have been increasing over the past 5 years, with most Kenyan banks expanding their operations across the region. The Industry is also seeing a flood of new technology driven products and services.

The banking width and depth in Kenya is comprised of over 40 banks-7 international banks, 5 midsized progressive local banks, 3 large and several parastatal banks and other small sized banks.

The banking career specializations will include: operations, business/relationship management, Sales, Credit, treasury, Trade finance, Customer services and product specialists. There are other specialist/professional fields including Information Technology, Audit & Finance, Legal services, Marketing, Risk and Compliance.

Career growth will mainly start either as management trainees, or as Bank clerks, with performance based long term growth oriented and reward opportunities. (Fast tracked cowboys will rarely last beyond 2 years). Placement is dependent on ones competencies with post deployment training in various fields. Expect also a lot of vertical as well as lateral (cross functional) movement and rotations.

Remuneration levels will depend from bank to bank but generally in the range of Ksh. 30,000-Kshs 50,000 per month starting salary as a clerk/trainee. Additional incentives will include concessional loans at as low as 4% p.a. interest rates, housing, medical, education among others. Banks will recruit at graduate levels. MBAs and other relevant professional courses are distinct advantages.

If you want to make a career in banking it is advisable to simultaneously also start a professional banking qualification e.g. AKIB or ACIB.