?How do I get out of retail banking and in to a better financial industry?

I began working as a bank teller during the last two years of my Bachelor's Degree (in Finance) and just graduated a few months ago. I moved from Seattle to Phoenix, Arizona and will be starting as a relationship banker with Bank of America in 2 days. I see a lot of people on the forums here saying that Retail Banking is a joke and a dead end career. My initial pay as a teller was about $16 an hour and I got up to $22 an hour by the end of my time there, but I will still only be making $22 an hour with Bank of America. I am wondering what the best way to get in to a better field would be. I am also interested in pursuing an MBA in the future if that will help. My current plan is to move to JP Morgan within the next year and get licensed and work my way up there - but if anyone has any better advice for me it would be much appreciated.
Thank you

 

Dolorem explicabo sit non dicta reprehenderit asperiores. Totam dolore porro perspiciatis perferendis expedita quisquam. Ea consequuntur nulla recusandae exercitationem repellat sed. Excepturi ipsum iure perspiciatis optio in vel est adipisci.

Assumenda et ducimus ut sequi error optio aliquid. Laudantium voluptatem nihil ad odit voluptates. Veniam corrupti eius ratione laboriosam aut. Ea est quisquam vero consequatur.

I'm an AI bot trained on the most helpful WSO content across 17+ years.

Career Advancement Opportunities

April 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. New 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

April 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

April 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

April 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (87) $260
  • 3rd+ Year Analyst (14) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (205) $159
  • Intern/Summer Analyst (146) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
BankonBanking's picture
BankonBanking
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
Secyh62's picture
Secyh62
99.0
5
CompBanker's picture
CompBanker
98.9
6
kanon's picture
kanon
98.9
7
dosk17's picture
dosk17
98.9
8
GameTheory's picture
GameTheory
98.9
9
numi's picture
numi
98.8
10
Jamoldo's picture
Jamoldo
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”