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Are Banking Careers Actually Over?

The times are changing, and so too is the way we use certain services. For example, malls are seeing far less traffic than ever due to an increasing number of online retailers. Why waste gas and time heading to a few different shops when you can get the same thing over the computer? The world is changing.

The same can be said in the banking industry. From personal to investment banking, online applications and websites now make it easier than ever to bank from the comfort of your own home.

With all of the advancements in technology, the future of banking careers is being put into question – and probably for good reason. We’re here to give you both sides of the argument, as well as our expert advice so that you know what to expect for the future of the banking industry.

Some say they are over

And maybe they’re right. After all, research shows that traffic in bank branches will decrease 36% between 2017 and 2022. That’s an average of 6% per year, which is a significant decrease that will no doubt be noticed by branch managers. It could be possible that the decrease in customers will lead to a decreased demand for bankers, thus minimizing careers.

There’s also the fact that many banking jobs require less-skilled workers, which is why automation is inevitable. Many experts say that there are too many steps in the chain, deeming some jobs unnecessary. Instead of a diverse branch full of experts in different banking sectors, the future of bank branches, according to some, might see only a handful of experts who are technologically skilled.

Some say they aren’t over

And there’s a great chance that they’re right. After all, banks are one of the most important institutions in the world. It would make sense that jobs within these established institutions aren’t going anywhere. From tellers to loan officers to regulators, there are quite a few banking careers that can’t be automated.

Even with automation, many experts think jobs will only increase, despite the inevitable decrease in branch traffic. Banks can afford to bring on technologically-savvy employees to improve their applications and automation process, all while keeping those employees who butter their bread working in the branch.

Here’s what we say

I talked to the recruiters on our banking team, and they believe that the future of banking will continue to produce great careers.

Krista, who recruits in the Western Washington region, stated that “people trust people more than they trust automation.” When things go array, or when an important decision needs to be made, customers want to talk in-person. They don’t want to talk to a machine or find the answers online. When it comes to their money, people want to trust their information.

Mike, who recruits in Texas, also believes that banking careers will advance. He stated, “Whenever there’s change there’s always growth.” Regardless of automation, change will bring growth and new opportunity for a successful career in the banking industry.

Tracy, a recruiter in California, believes the same thing that Krista does. “People like to deal with people. Sure, there might be situations where automation is necessary. However, when it comes to trusting a bank with millions of dollars, you’re going to want to look someone in the eye and know your money is safe with them.” Automation may help, but people matter more.

With so many factors playing into the future on banking jobs, we can’t fully predict what will happen. What we can predict, however, is that when it comes to trust, human interaction is much more valuable than technology. Until that changes, banking careers should continue to be successful.

The JSG Difference - According To Those That Are Most Important

The JSG Difference – According To Those Most Important To Us

The JSG Difference - According To Those That Are Most Important

At JSG, we’re all about people. Our primary goal is simple – match great candidates with outstanding clients. However, we do this in a very complex environment, juggling industry regulations and trends, desirable soft skills and experience, and varied needs for every position. When you choose to work with JSG to find your next candidate or career, you’re putting your future in good hands. But don’t just take our word for it, hear it straight from a few of our clients.

1. What motivated you to start working with JSG?

I was referred to JSG by a banking colleague who had an excellent experience working with them. –  Matt Murphy, VP SBA BDO at Pacific Premier Bank

I had the opportunity to speak with Mike Muglia who reached out to me at the perfect time.  Not only was he very personable and supportive, he valued my career development goals and aspirations.  I was truly impressed with the way he approached my career search. – James Garner, Commercial Lender at Allegiance Bank

Actually JSG contacted me. They had a position open and like the skills I posted on a website. I researched the company and liked what I saw so I applied. – Dennis Chambers, Service Desk Technician at BECU

When I contacted Mike via email, he called me back in less than 30 seconds. Then to follow up our initial conversation, Mike scheduled our first call/interview over the phone the same week with a prospective bank. Speed and follow up won me right away! – Karen Caviedes, SVP Group Manager at Allegiance Bank

2. What was the process like during your partnership with JSG?

Tracy asked what I was looking for in my next position.  He listened and found several top prospects. They coordinated the interview and worked with me on interview preparation. – Matt Murphy, VP SBA BDO at Pacific Premier Bank

Our process was great. Our account partner was new so it was nice to be able to establish our standards for a new partnership. – Chandra Williams, Talent Acquisition Specialist at STCU

The process was very efficient and everything went extremely well.  Mike did a fantastic job of keeping me informed of critical deadlines, as well as notifying me of when I would meet with important Executives.  The entire experience was almost effortless and I have been truly impressed.  – James Garner, Commercial Lender at Allegiance Bank

The process has been professional and yet “open door” to date with Tracy keeping me apprised of the candidate referrals and developments as well as providing advice via consultation. – – Larry Zivelonghi, EVP at Citizens Business Bank

It is really a great pleasure speaking to the people and the process to work is very informative and well laid out. – Dennis Chambers, Service Desk Technician at BECU

The process and working with Mike with great. Mike was very personable and attentive. My needs were always first in the process. – Karen Caviedes, SVP Group Manager at Allegiance Bank

3. Did your Account Executive engage you in our process?

Yes, every step of the way. – Matt Murphy, VP SBA BDO at Pacific Premier Bank

My Account Executive Mike Muglia engaged me regularly throughout the process. I can’t express enough how impressed I have been with Mike Muglia, my Account Executive. I highly recommend him to anyone searching for career placement opportunities.  After the first conversation with him, I knew I would not be disappointed.  – James Garner, Commercial Lender at Allegiance Bank

Yes, in fact I stay in contact with them and they are willing to answer any questions or concerns I have. – Dennis Chambers, Service Desk Technician at BECU

4. What was the best part about working with JSG?

Responsiveness, industry knowledge, banking connections and interview preparation. – Matt Murphy, VP SBA BDO at Pacific Premier Bank

Placing an applicant in a hard to fill position within a decent time frame. – Chandra Williams, Talent Acquisition Specialist at STCU

I always felt JSG had my best interest at heart.  I think the ‘down to earth’ style of communication that I received from JSG was what I valued the most.  I could discuss my aspirations, concerns, thoughts or even complaints with my Executive.  Not only was he professional in his communications, he would display a level of empathy and continue to express the key points of value related to the topics of discussion.  By sharing real world experiences and being up front about issues, I felt that Mike and JSG really wanted what was best for my career.  – James Garner, Commercial Lender at Allegiance Bank

Working directly with the same Account Executive throughout a referral and the subsequent process involved. – Larry Zivelonghi, EVP at Citizens Business Bank

The people are the best part. They are very knowledgeable and very friendly. – Dennis Chambers, Service Desk Technician at BECU

Working with Mike and developing what I now consider a life long friendship! – Karen Caviedes, SVP Group Manager at Allegiance Bank

5. What advice would you give any candidate or company considering using JSG?

Engage JSG with a vision of what you want.  They will find a good fit.- Matt Murphy, VP SBA BDO at Pacific Premier Bank

To be very open and honest about expectations. That is what my experience was from start to finish. – Chandra Williams, Talent Acquisition Specialist at STCU

Never feel that any issue you may have is not worth discussing.  JSG will value your thoughts and assist you with navigating through any issues or concerns to help you achieve your career goals and dreams.  Trust them! – James Garner, Commercial Lender at Allegiance Bank

I would readily recommend working with Tracy Isakson. I have thoroughly enjoyed the relationship with Tracy Isakson over the past approximately two years. – Larry Zivelonghi, EVP at Citizens Business Bank

Bring your best and JSG will work hard to find you a position that is right for you. – Dennis Chambers, Service Desk Technician at BECU

6. In your opinion, what sets JSG apart in the industry?

Responsiveness, industry connectivity and interview preparation. – Matt Murphy, VP SBA BDO at Pacific Premier Bank

They are very similar to lots of other staffing agencies but I would say that they have a very thorough vetting process. – Chandra Williams, Talent Acquisition Specialist at STCU

JSG not only exhibits a strong level of professionalism, their attitudes are positive and enthusiastic.  With JSG, you truly feel they value all associates in relationships.  We win as a team and you’re involved in a partnership, not merely a transaction. – James Garner, Commercial Lender at Allegiance Bank

I think the personal interaction with the Account Executive and being able to discuss and breakdown each candidate’s position. – Larry Zivelonghi, EVP at Citizens Business Bank

The people are the best I have come across and their process for finding the right job for that person is a wonderful concept they have perfected. – Dennis Chambers, Service Desk Technician at BECU

Professionalism, follow up, connections in the industry, personality plus/connecting with clients to get them comfortable and bought into the process of trusting an agency. – Karen Caviedes, SVP Group Manager at Allegiance Bank