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/biz/ - Business & Finance

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442010 No.442010[DELETED]  [Reply] [Original]

How many bankfags do we have on /biz/? Assistant branch manager here.

>> No.442060

>>442010
OP
What do you think of bitcoin?

>> No.442269

>>442060
A poor investment and a novelty.

>> No.442285

>>442010
Should keep my oney at home in cash and should I keep them in dollars, pounds or euros?

>> No.442621

>>442285
Keeping some money at home is always a good idea but you also want to keep at least some gold or silver too. Paper money is essentially worthless when it comes down to it.

>> No.442627

>>442010
how much money you make?
do you like your job?
what path did you take to get where you are?

>> No.442631

>>442010
currently work at a company that provides back office services to credit unions, they are often very very small and we have a shit ton of products so we basically run their entire branch for them if they want

>> No.442642

>>442010
>assistant branch manager

So you're basically a glorified teller?

>> No.442668

David Rockefeller here, AMA.

>> No.442676

>>442269
>novelty
the internet is a novelty too, huh?

>> No.442939

>>442642
Yup, and glorified banker. But I currently don't have a branch manager due to my company being so awesome that I'm stuck doing 3 people's jobs.

>> No.442943

>>442676
I just don't trust the stability of them right now. They're entirely too volatile and there's too many people in it for the short game instead of the long-term. Plus (and this is a problem with any bank or digital currency now) the security around them is only as good as the lowest bidder for the contract. To a point it does make me wish we had ledger books to fall back on because we completely depend on computers.

>> No.442949

>>442627
1. Not nearly enough, salary is a bitch when you work 50+ hours and your base isn't that great.
2. I would rather stick a pen in my eye than go to work most days if that answers your question.
3. Started out as banker, turnover is crazy high and I had a good relationship with my regional manager so I got slotted into a position that needed a drama-free manager. And since I've taken the job I've dealt with nothing but drama.

>> No.442953

>>442949
wtf exactly is a 'banker'? like a teller?

>> No.442955

>>442939

Don't call yourself a banker.

Banking = investment banking/something comparable where you use mathematics above addition. Personal bankers = used car salesmen selling you checking accounts that you don't need.

Retail banking is a fucking joke, why would you think we'd want to pick your brain when you literally need a GED and one year as a teller to become an assistant branch manager?

>> No.442957

>>442953
Personal bankers service accounts and try to sell you additional product (checking accounts, credit cards, etc.) It's basic as fuck and this thread is shit.

>> No.442959

>>442953
Banker does all the account-related stuff like opening accounts, taking loan apps, account servicing, etc. Also you close loans too but that's pretty much just telling people where to sign and making sure the interest rate and amount are correct. I'm a notary too, that's for closing home equity lines of credit.

>> No.442965

>>442955
Not disagreeing with you that retail banking is shit. But I'm definitely not one that sells people shit they don't need. I'm surrounded by it and pressured to do it on an hourly basis but I'm not going to fuck someone's financial situation up so I can sell another credit card or get someone who doesn't understand how money works to opt-in on their debit card.

>> No.442966

>>442957
>>442955
Alarm monitoring operator for a bank here.
Bankers are normal people, those that get royally fucked when something bad happens too
Private bankers are so full of themelves
Managers always start the conversation with "I'm the manager" and they are always "busy busy busy"
Just something I noticed

>> No.442975

>>442966
Our private bankers are the biggest assholes in the world. I haven't met one that isn't a snake oil salesman.

In my case when I say 'I'm busy' it usually means 'I've seen you do what your asking for help with before on your own, why are you asking me now?'.

>> No.442979

>>442965
>But I'm definitely not one that sells people shit they don't need.
Ok, that's the easy explanation, but what about offering services that could be valuable to a customer? Christmas savings plans, low-rate loans, etc?

My sister is a teller and she believes "sales" is beneath her. Um, hello, that's how the world works, and why you're (or she is) employed.

>> No.442986

>>442979
CRA loans are big since I'm in a relatively economically depressed area. I try to get people started on savings plans and explain how relatively easy it is to save even a little money even if you're on a fixed income but there's a discipline requirement on their part. I try to help with debt consolidation as much as I can but once again there's a big part of that on the customer. I can just make suggestions.

>> No.442988

>>442979
I've also helped more than a few people out of the payday loan cycle. That's a tough one.

>> No.442989

>>442959

I was a person banker too ;^)

>>442965

Yeah man I worked at a major bank and it was shit. My managers were always struggling to hit quota and that pressure came down on us. Had to quit because I hated putting people with more accounts they didn't need... Really felt like I was doing more harm than good.

Do you work at a non-major bank? I didn't hate the process aside from our ridiculous and unobtainable quotas.

>>442966
Private bankers clear six figure where I'm from, so I understand the cockiness, but they're just personal bankers working with high-value customers in essence.

>>442975
Yeah people hated answering questions for me but the training process was all touchy-feely theoretical, barely any substance on how to actually do the day-to-day technical shit.

>> No.442991
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442991

Why did you go into banking when you could go pe/hedge or even investment and make a lot more money

>> No.442996

>>442991
Retail banking how a MUCH lower barrier to entry (read: none.)

You need a GED for retail banking.

For PE/iBanking you need a finance-related degree, internships, and a solid foundational understanding.

If I could be in ibanking, I would. I fucked around in college and retail banking is the fruit of my (lack of) labor.

>> No.442998

>>442996
Follow up:

Friend in ibanking is going to clear $120k. First year in retail banking I cleared ~$40k.

They really aren't the same fields. One is sales, the other is finance.

>> No.443004

>>442998
what firm is your friend at

>> No.443005

>>442989
Sadly no, I work for a major regional bank (is that an oxymoron...?). I'm trying to get out of it, much rather work fraud in back office but those are all you have to know people who know people jobs.

>> No.443009

>>442996
Considering going back to school for that degree. Most interested in how 'black box' trading software works.

>> No.443013

>>443009
not exactly a mystery

>> No.443021

>>443004
Wells Fargo ibanking division. Their ibanking department isn't that prestigious, but ibanking is ibanking.

>> No.443023

>>443009
If you want to be a quant designing the algorithms for trading, you need applied mathematics/be fucking brilliant/must work brutal hours.

I don't think you actually want to do that.

>> No.443124

>>442621
>but you also want to keep at least some gold or silver too
Shitty advice.

>Paper money is essentially worthless when it comes down to it.
So is almost everything else in this world (including gold/silver). We give things value, which is why your argument is irrelevant (and we aren't going to stop using fiat money anytime soon).

>> No.443192

>>442989
Bit more to private banking than just opening accounts for high net worth clients. Any legit private banker will have an assistant to open accounts and take loan applications. Private bankers focus on sourcing new credit and investment management opportunities. The credit requests that they go after are not home equity loans but rather larger and more complicated requests that involve a custom structure and covenants.

>> No.443193

>>443021
how do you get into that?

>> No.443305

>>442010
I work back office in on the retail side of a major bank doing BI work. I came in from a tech background, but so many of the people I work with came out of branches/call centres, and it fucking shows.

Currently sitting on some great share options, but when they mature I'll look to move on.

>> No.443309

>>442621

so is gold and silver

>> No.443316

Worked in WTC 2 from 95' to 01'. 73rd floor. Professional axeman.

Sorry, this is my first post on 4chan outside of /trv/. I'd be happy to answer questions.