Banking for genuine good: a humanitarian approach

Answer the following question honestly: have you considered a career in/working in banking due to humanitarian reasons.

If you answered no - thats ok because you are likely in the majority. I never considered this aspect when initially embarking on banking. Banking has never really been seen as a humanitarian role, such as the likes of being a doctor, activist, teacher etc.

If you answered yes, with reference to how it plays a crucial role in the functioning of the economy, jobs etc then thats respectable. I want to dig deeper.

I want to hear genuine thoughts on the following points. I have never studied macro economics in depth. A lot of the below is also potentially idealistic, and as such, any logical further extensions, thoughts or counter arguments etc. are really welcome! I am also typing this late at night on my phone so excuse any poor grammar/spelling.

1.) Capitalism in its most basic form operates upon supply and demand. The problem is that the the resources us humans demand are not always good for us, and feed more into our addiction for instant gratification. Is it really necessary to have entire industries with huge investments in fast food, alcohol, certain technologies, luxury brands?? As bankers, we have the power to grow industries. Could it not be more beneficial for society in the long run if bankers worked towards driving the rise of more sustainable industries, such as in renewable energy (I believe this is actually already a growing trend), financing for large scale housing projects, charities, campaigns etc. I know that an argument for the aforemtioned fast food etc industries, are that they employ a lot of people. The idea is that in the long run, we can help change that, such that these same people could work in roles which are more beneifical for society. I also know most large banks have a sustainable group, and do a lot of work on related projects. But how about a genuine shift, such that everything bankers worked on was sustainable and beneficial for humans in the long run?)

2.) Change of mindset from profit drive to a more societal impact drive. As said, bankers have the power to grow industries. If the bank itself prioritises profits above everything else, then it allows business decisions to occur which may help profitability in the short run (to look good in an annual report), but ultimately hinder society, as a whole, in the long run. What if bankers worked on deals which did benefit humanity in the long run? Sure - profit margins may not be as high, but surely pay around the board can be deducted to accomodate? (The next point elaborates on this). Banks could factor in the opportunity to do the best thing for society, over just financial gains every time. The long term positive rep the finance industry and banks get would also be a huge win for everyone (given the dire current state of the industry's rep). 

3.) The people in the industry need a mindset shift. Does it REAALLY matter if your bonus wasnt xx% of your already existing xxx000 salary? In a world where billions of people are in poverty and the average wage even in the UK/US is 30-40K, its a little sick for people to care so much about whether their salary is 200K or 500K. Extra money beyond a certain point only allows one to gain short term pleasures and instant gratification. Sustainable fullfillment cannot be achieved after a certain amount of money. If bankers all around the board were paid less and were content with it, then banks could make business decisions with less of a focus on short term profit etc. and have the freedom to do genuine good (see point 2). Banks could also charge lower fees improving accessibility globally. Imagine a world where bankers were motivated and measured on the societal impact their work had, rather than on the revenue of their deal. Furthermore the eliteness of banking (talking about wholesale banking) needs to change. Most (not everyone) people who went to target unis are there due to privelege. They arent always necessarily smarter. There are likely 1000's of missed smart, talented, creative people in non target unis whom would be a great asset. What if we also didn't compare the eliteness of different groups e.g. M&A("prestigious")to transaction banking("non prestigious"). Once again, I think a lot of this is due to pay.... as transaction banking pays half as much as M&A (but still enough to live an amazing life!). In this example, transaction banking is also hugely important for the global economy to run, and as such its strange a lot of people have negative assosciations of certain groups compared to others.

Many talented and motivated people shy away from banking in the pursuit of a more "meaningful" and "humanitarian" career. All the above could further change the mindset regarding banking as a career. These people could be inspired to work in banking and help grow industries and deliver projects which genuinely change the world for better in the long run.