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Banking & Financial Support Services Major

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Banking & Financial Support Services

698 Bachelor's Degrees Annually
19 Master's Degrees Annually
#43 in Popularity
$38,220 Median Salary

Types of Degrees Banking & Financial Support Services Majors Are Getting

The following table lists how many banking and financial support services graduations there were in 2019-2020 for each degree level.

Education Level Number of Grads
Bachelor’s Degree 588
Basic Certificate 338
Associate Degree 128
Undergraduate Certificate 66
Master’s Degree 13
Graduate Certificate 2

What Banking & Financial Support Services Majors Need to Know

O*NET surveyed people in occupations related to banking and financial support services and asked them what knowledge areas, skills, and abilities were important for their jobs. The responses were rated on a scale of 1 to 5 with 5 being most important.

Knowledge Areas for Banking and Financial Support Services Majors

Banking and Financial Support Services majors often go into careers in which the following knowledge areas are important:

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  • Customer and Personal Service - Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
  • English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
  • Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
  • Clerical - Knowledge of administrative and clerical procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and other office procedures and terminology.
  • Computers and Electronics - Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.

Skills for Banking and Financial Support Services Majors

banking and financial support services majors are found most commonly in careers in which the following skills are important:

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  • Active Listening - Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
  • Speaking - Talking to others to convey information effectively.
  • Reading Comprehension - Understanding written sentences and paragraphs in work related documents.
  • Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
  • Social Perceptiveness - Being aware of others' reactions and understanding why they react as they do.

Abilities for Banking and Financial Support Services Majors

As you progress with your banking and financial support services degree, there are several abilities you should pick up that will help you in whatever related career you choose. These abilities include:

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  • Oral Comprehension - The ability to listen to and understand information and ideas presented through spoken words and sentences.
  • Oral Expression - The ability to communicate information and ideas in speaking so others will understand.
  • Written Comprehension - The ability to read and understand information and ideas presented in writing.
  • Speech Recognition - The ability to identify and understand the speech of another person.
  • Speech Clarity - The ability to speak clearly so others can understand you.

What Can You Do With a Banking & Financial Support Services Major?

People with a banking and financial support services degree often go into the following careers:

Job Title Job Growth Rate Median Salary
Loan Counselors 13.8% $45,180
Loan Interviewers and Clerks 12.4% $39,890

Who Is Getting a Bachelor’s Degree in Banking & Financial Support Services?

588 Bachelor's Degrees Annually
38% Percent Women
41% Percent Racial-Ethnic Minorities*
This major tends to be male dominated. About 62% of recent graduates are men.

Racial-Ethnic Diversity

At the countrywide level, the racial-ethnic distribution of banking and financial support services majors is as follows:

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Race/Ethnicity Number of Grads
Asian 60
Black or African American 58
Hispanic or Latino 98
White 217
International Students 121
Other Races/Ethnicities 34

Geographic Diversity

Banking and Financial Support Services appeals to people across the globe. About 20.6% of those with this major are international students.

How Much Do Banking & Financial Support Services Majors Make?

Salaries According to BLS

Banking and Financial Support Services majors often go into careers where salaries can range from $37,000 to $41,310 (25th to 75th percentile). This range includes all degree levels, so the salary for a person with just a bachelor’s degree may be a little less and the one for a person with an advanced degree may be a little more.

To put that into context, according to BLS data from the first quarter of 2020, the typical high school graduate makes between $30,000 and $57,900 a year (25th through 75th percentile). The average person with a bachelor’s degree (any field) makes between $45,600 and $99,000. Advanced degree holders make the most with salaries between $55,600 and $125,400.

Median Salary for a Banking & Financial Support Services Major  ( 37000 to 41310 )
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250K
Median Salary for a High School Graduate  ( 30000 to 57900 )
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250K
Median Salary for a Bachelor's Degree Holder  ( 45600 to 99000 )
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250K
Median Salary for an Advanced Degree Holder  ( 55600 to 125400 )
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250K

Some careers associated with banking and financial support services require an advanced degree while some may not even require a bachelor’s. In general, the more advanced your degree the more career options will open up to you. However, there is significant time and money that needs to be invested into your education so weigh the pros and cons.

Find out what the typical degree level is for banking and financial support services careers below.

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Education Level Percentage of Workers
Less than a High School Diploma 1.1%
High School Diploma - or the equivalent (for example, GED) 52.8%
Post-Secondary Certificate - awarded for training completed after high school (for example, in agriculture or natural resources, computer services, personal or culinary services, engineering technologies, healthcare, construction trades, mechanic and repair technologies, or precision production) 2.7%
Some College Courses 14.7%
Associate’s Degree (or other 2-year degree) 6.3%
Bachelor’s Degree 22.1%
Post-Baccalaureate Certificate - awarded for completion of an organized program of study; designed for people who have completed a Baccalaureate degree but do not meet the requirements of academic degrees carrying the title of Master. 0.0%

Online Banking & Financial Support Services Programs

In the 2019-2020 academic year, 134 schools offered some type of banking and financial support services program. The following table lists the number of programs by degree level, along with how many schools offered online courses in the field.

Degree Level Colleges Offering Programs Colleges Offering Online Classes
Certificate (Less Than 1 Year) 0 0
Certificate (1-2 years) 35 5
Certificate (2-4 Years) 2 1
Associate’s Degree 63 14
Bachelor’s Degree 3 2
Post-Baccalaureate 0 0
Master’s Degree 5 2
Post-Master’s 1 0
Doctor’s Degree (Research) 0 0
Doctor’s Degree (Professional Practice) 0 0
Doctor’s Degree (Other) 0 0

Is a Degree in Banking & Financial Support Services Worth It?

The median salary for a banking and financial support services grad is $38,220 per year. This is based on the weighted average of the most common careers associated with the major.

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You may also be interested in one of the following majors related to banking and financial support services.

Major Number of Grads
Finance 52,394
Financial Planning & Services 3,544
Other Finance and Financial Management Services 406
Investments and Securities 299
International Finance 73
Public Finance 34
Credit Management 7
Financial Risk Management 1

References

*The racial-ethnic minorities count is calculated by taking the total number of students and subtracting white students, international students, and students whose race/ethnicity was unknown. This number is then divided by the total number of students at the school to obtain the racial-ethnic minorities percentage.

More about our data sources and methodologies.

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