Retail banking refers to high-street banking, in which banks undergo transactions directly with consumers, rather than corporations or other banks.
What do Retail Banks do?
Retail bank's services include: taking care of money, transfering money between accounts, providing loans, foreign exchange services, savings, financial advice, insurance, mortgages, etc.
Graduate Jobs in Retail Banking
There are various career routes open to graduates in Retail Banking, such as:
- Management/Branch management
- Strategy and marketing
- Credit and risk
- Human resources
- Operations management
Employers include UK clearing banks, building societies, foreign banks with a network of UK branches and finance houses.
Entry requirements for Retail Banking
For most banks you will need a 2.1/2.2 degree to apply for most positions. Although a degree in almost any discipline is accepted by retail banking recruiters for entry to graduate schemes, graduates with the following degrees may have an advantage:
- Business Studies
- Banking and finance
- Financial services
Retail banking is a fundamentally a customer-driven sector. Candidates with good quality communication skills tend to be highly regarded by potential employers.
See here for a list of the top 100 retail banks and building societies in the UK.