Banking and securities institutions offer related yet separate products and services, but the distinctions are growing less clear as both industries diversify to become more competitive.

Deregulation of the banking industry has allowed banks to begin offering investment and insurance products they were once prohibited from selling. "Non-bank" financial institutions, on the other hand, are beginning to provide many of the same depository and payment services as commercial banks, savings and loan associations, and credit unions.

As deregulation continues and competition in this sector grows, the nature of banking and securities will continue to undergo even more significant changes.

Employment in the banking industry is expected to increase slightly, reversing a trend of declining employment in the 1990s due to mergers, acquisitions, and increased automation. Job growth will result primarily from the diversification of services and an increased need for skilled and experienced people to sell new products. Employment of securities and financial planning representatives is expected to double from 1998 to 2008 due to growing public interest in investing.

Those desiring a career in banking and securities should be analytical and able to compare and interpret figures quickly and accurately. Good interpersonal and communication skills, as well as an ability to inspire the trust and confidence of clients, are also important.

Most positions in banking and securities require broad-based knowledge of financial products and services. Strong presentation and training skills, written and verbal communication skills, and an ability to sell and negotiate are essential for many positions. Computer skills are usually required in database and spreadsheet applications.

Academic preparation for a career in this field ranges from a high school diploma for tellers to a bachelor’s degree for most other positions.

Banking and securities work takes place in different types of institutions, depending on the specific services offered and the clientele served. Most individuals in this field work in commercial banks, savings and loan associations, credit unions, Federal Reserve banks, brokerages or investment firms. The average workweek is 40 hours, although tremendous variations exist by position and place of employment.