Thinking of pursuing a career in banking? Here’s what you should know

The finance sector in South Africa employs more than 2,3 million people, according to a Statista report. Those who work in banking itself experience good pay structures, great job perks and even better company benefits.

Pursuing a career in the banking sector is definitely one way to secure one’s future, and as such jobs in the banking sector are much sort after.

South Africa’s big four – Absa, Standard Bank, Nedbank and FNB – know this all too well from being bombarded with applications from fresh graduates and school leavers. It is for this reason, these banks offer easy-to-access graduate programmes that assist in placing the right candidate in the right job space.

Over 250 graduates will join FNB this year

FNB’s Human Capital Executive, Donald Khumalo, told The Citizen that this year, the bank has over 250 graduates joining them in 2023 – their biggest intake yet.

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“The bank strongly supports developing and upskilling talent through the FNB Graduate Programme. Since the programme inception in 2006, over one thousand graduates have completed the programme.

“Graduates are supported, mentored and given opportunities to contribute through participation in real business projects, innovations and engagements with key stakeholders on important initiatives.

“To qualify for the FNB Graduate Programme students must have at least an undergraduate degree or an equivalent on any field,” Donald explained.

The bank generally opens applications for student intakes during the months of March and August, and can be accessed here.

On the hunt for the best minds

Nedbank also has its own graduate programme, as it claims to be constantly on the hunt for the best minds to join its Corporate and Investment Banking (CIB) team.

The bank opens its graduate programme up every year to students in the final year of studying either computer science, engineering (all fields), information technology, data analytics, cybersecurity, finance and economics, MCom (risk management of financial markets), MPhil (mathematical finance), or environmental science.

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The bank also says that it offers the best industry exposure. It generally opens for applications around May/June in the year for the following year’s intake, and can be accessed here.

More than just the opportunity to work at the bank

Absa offers the youth of South Africa more than just the opportunity to work at the bank. The bank is also involved in a number of bursary programmes.

“Each year, we select a handful of talented top performers and provide them with financial support enabling them to complete their education and potentially pursue a career with us on qualifying,” the bank said.

The requirements are very straightforward. Applications are currently closed but will open again soon. You can access it here.  

Then there’s the GenA graduate programme. “We recruit Africa’s brightest young Science, Technology, Engineering and Maths graduates to join a new generation: we call them GenA. They are A+ achievers; those who are on their A-Game, who are proudly African,” the bank explained. Applications can be accessed here.

Build skills, gain experience

Standard Bank lists several aspects to its graduate programme. The bank places candidates in areas of banking such as business and commercial, client solutions, and corporate and investment banking to name a few.  

“Our Graduate Programmes give you the opportunity to build skills, gain experience, and enjoy the freedom you need to create a brighter future not only for yourself but for Africa too,” the bank said.

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You would probably need a relevant degree to get into the programme. All you have to do though is log onto the career portal, apply online, undergo an interview (generally a video one), and if all this goes well, the bank will invite you to take an assessment. After that, you will receive either an offer or a decline.

Applications for the intake for the next lot of graduates will open on 1 April 2023, and will close on 15 June 2023.