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Is Being Proficient in Maths Necessary for a Banking Career

By Aishwarya    May 18th, 2018         

It would be a blatant lie, if we stated that Maths   is not important for a banking career, but at the same time, it is equally imperative to keep in mind that Maths s is not the only prerequisite subject you prominently need to master if you are opting for a banker’s job. Each person’s life demands different pieces of knowledge. What we are taught in higher Maths   is cultural, test-based and effectively random.  

Basic Maths:

Yes, basic Maths and its fundamental knowledge is very crucial. However, at the same time, bankers require more skills and need to have an aptitude for challenges as well. For example, when a person starts preparing for, say a bank clerk’s job, then s/he will often worry about the Maths we have to deal with, while ignoring the essential skills that the recruiter looks for in a banker like a good knowledge of data advancement, the ability to work sprucely and precisely, good registering and verbal conveying skills, good numeracy and computation skills, superior IT skills and computer proficiency, a genuine and reliable nature and a good consciousness to details.

Advanced Maths: Is it Required?

In depth Maths formulas and methods are unnecessary for a banker’s job because there are many software and functions that help in the banking sector and make their job easier. If we continue talking about the clerk’s job, most of what we do is taught to us on the job by our seniors or mentors. Goal or task oriented knowledge is more widely spread across in a Banker’s job. Certain key responsibilities like assisting customers, administering and optimising their bank accounts, providing consultative services for clients regarding financial services and resolving business regarding customer accounts does not include proficient Maths . 

Skill-Set Required for Banker’s Job:

Knowledge of best implementation and ordinance involving personal banking, practical knowledge in sales and customer service, working comprehension of MS Office software and basic grasping of retail banking are some of the few basic skills that are required for a Banker’s job. 

An analytical mind helps a banker to come up with creative solutions. High proficiency Maths may give you an edge in your resume but most of the Banker’s work doesn’t involve the crammed formulas and methods. 

If we conduct a survey about whether high proficiency Mathematics is necessary for a Banker’s job, most of the people would react positively ignoring the fact that intellectuality and skill based knowledge is more important in the Banking field. 

Being open to challenges, having an analytical mind and accepting challenges as they come help you ace the Banking field. Hence, one needn’t be highly proficient in Maths to harbour the dream of pursuing a career in Banking field.