Banking and Financial Institutions Many economics and applied mathematical economics majors choose careers in the banking industry. Banks, and other financial institutions, generally rely on internal labor markets to fill higher level positions. This means that top management positions tend to be filled by promotion from within the bank. Banks do, however, open management trainee positions to college graduates. Economics majors tend to be particularly well prepared for these positions. These management trainee positions generally require individuals to spend some time working as a bank teller. Graduates of our program have gone on to become bank managers and loan officers in several banks in the region. Most of these individuals started as bank tellers. Individuals planning to enter a career in banking should include the following courses in their undergraduate program:
Many applied mathematical economics majors (and a few economics majors) have become research assistants at the Federal Reserve Board in Washington or at one of the Federal Reserve District Banks. Competition for these jobs is quite intense. To be seriously considered for one of these positions, it helps to have a relatively high GPA (at least 3.0, but preferably above 3.5). The following courses also provide helpful preparation:
Send any comments, suggestions, or questions to John Kane at kane@oswego.edu.
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