Hi All
Hope everyone's well and keeping safe!
I am currently in interview process with couple of BB with their Transaction Banking verticals. The roles I am interviewing relate to supply chain finance (sales, i.e. origination and retention of revenue from corporate clients): dealing with products such as payable finance, receivable finance and cash management.
This seems to be an interesting and dynamic space given lots change happening due to involvement from fintech players, open banking model etc.
I wanted to understand the career prospects in terms of progression path, remuneration potential of this career path.
I have reviewed several past WSO threads on transaction banking however none have dealt in detail with regards to career prospects etc.
Would appreciate any views on this.
Thanks in advance
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I'll take a shot since I've worked with this professionals, but don't work in this field myself. The most obvious career path would be to develop into a product specialist in one of those products and go out and pitch clients and execute mandates. Another path may be going into treasury of a large corporate where these products are used frequently and it's worth have people with specialized knowledge in-house. The last thing I'll offer is that if you go to a large bank and perform well, your career path can be whatever you want it to be. I've seen people work in so many different groups at the same institution throughout their career. If you perform well, banks want to retain talent and will have you grow into the role you'll be most successful in.
Thanks for the response. This is really helpful. I had another question, I noticed in most of the BB, the transaction banking sits within corporate and investment banking (CIB) group. Does this mean that transaction banking's remuneration and bonuses are a function of how the CIB part of the business performs collectively.
I am new to banking, so would appreciate if you can throw some light on this aspect too.
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