What Should You Study to Work in Banking? Qualifications and Requirements

The Spanish banking sector is transforming its recruitment processes in response to digitalisation, automation and the emergence of new professional roles. According to the Annual Salary Structure Survey by Spain’s National Statistics Institute (INE), the financial and insurance sector recorded an average annual salary of €48,922.80 in 2023, compared with €28,049.94 across all economic sectors.

Education is one of the main pathways into the banking industry. Degrees such as Business Administration and Management (ADE), Economics, Law and Engineering can open the door to roles in different departments, although specific requirements vary depending on the position.

Do You Need Previous Experience to Start Working in a Bank?

Previous experience is not essential to start working in a bank. Banks offer entry-level positions, graduate programmes and internships for candidates with no prior professional experience. Academic qualifications, customer-facing skills and a willingness to learn can make up for a lack of experience, particularly in administrative and customer service roles.

Banks also value transferable skills gained in other industries, such as communication, document management and a results-oriented mindset. The main entry routes include:

• Graduate programmes: provide opportunities to gain experience across different departments and develop professional skills.
• Internships: offer hands-on experience in financial operations and internal banking procedures.
• Customer service roles: provide opportunities for candidates with strong communication and sales skills.
• Administrative positions: involve support tasks, document management and transaction reviews.

Career progression depends on experience, performance and further qualifications. Understanding how to advance your career in retail banking can help you identify the skills needed to take on management responsibilities or progress into bank branch leadership roles.

What Skills Do Banks Look for in Their Employees?

Banks look for professionals with strong analytical skills, a customer-focused approach, digital proficiency and financial knowledge. Customer-facing roles require strong communication and negotiation skills, while investment, risk management and technology departments place greater emphasis on data analysis, problem-solving and proficiency in specialised tools.

The most sought-after skills fall into the following categories:

Soft skills complement technical expertise. Adaptability, critical thinking and a willingness to learn help professionals respond to technological and regulatory changes in the banking sector.

The World Economic Forum's Future of Jobs Report 2025 identifies analytical thinking, flexibility and technological skills as key capabilities in the changing world of work.

What Degrees Can Lead to a Career in Banking?

The main degrees that can lead to a career in banking include Business Administration and Management, Economics, Finance, Law, Mathematics and Computer Science. Business and economics degrees prepare students for roles in retail banking and financial analysis, while Law provides a pathway into regulatory and compliance departments. Technology-related degrees offer opportunities to specialise in data analytics, cybersecurity and banking systems.

The Bachelor’s Degree in Business Administration and Management (ADE) provides a foundation in accounting, finance, strategy and business management. Economics, meanwhile, focuses more on financial markets, monetary policy and quantitative analysis.

Law degrees prepare graduates for roles in legal advisory services and regulatory compliance. Mathematics, Statistics and Engineering are particularly valuable in risk management, technology and data analytics departments.

Higher Vocational Education and Training (VET) qualifications also provide a pathway into banking. Qualifications in Administration and Finance prepare students for accounting, administrative and management tasks, while IT-related qualifications can lead to certain technical roles.

The choice of degree should reflect your area of interest. Customer-facing roles require a solid understanding of business operations and customer needs, while technical positions demand more specialised expertise.

Which Master’s Degree Should You Study to Work in Banking?

The most suitable master’s degrees for a career in banking are those specialising in Finance, Financial Management and Business Administration (MBA). A Master’s in Finance provides in-depth knowledge of investments and financial markets, a Master’s in Financial Management develops planning and financial control skills, and an MBA prepares graduates to take on management and business leadership responsibilities.

Postgraduate education allows professionals to specialise and pursue career paths in specific banking departments. The main options include:

• Master’s Degree in Finance: provides knowledge of financial markets, asset valuation, investment management and risk analysis.
• Master’s Degree in Financial Management: offers advanced training in budget planning, corporate financing and management control.
• MBA: develops skills in strategic management, leadership and team management.

Additional professional qualifications are particularly relevant for certain financial advisory roles. Spain’s National Securities Market Commission (CNMV) publishes a list of recognised qualifications and certifications that demonstrate knowledge and competencies relating to financial instruments.

Professional certifications include the European Investment Practitioner (EIP) and European Financial Advisor (EFA), awarded by EFPA Spain. Their relevance depends on the responsibilities of the role and the applicable regulatory requirements.

Career Opportunities in Banking

Career opportunities in banking include customer relationship management, financial advisory services, investment management, risk analysis, financial control and technology. Banks offer opportunities for both customer-facing professionals and specialists working in internal operations.

Exploring the different career opportunities in finance and economics can help you identify the areas that best align with your qualifications and personal interests.

Some of the main roles include:

• Retail Banking Relationship Manager: works with individual and business customers, manages financial products and maintains client relationships.
• Financial Advisor: assesses clients’ needs and recommends suitable investment solutions. Understanding what a financial advisor does provides further insight into the responsibilities of this role.
• Risk Analyst: assesses lending transactions, creditworthiness and potential financial losses.
• Investment Analyst: researches financial markets and assets to support investment decisions.
• Compliance Specialist: monitors internal procedures and helps prevent regulatory risks.

Financial markets offer additional career opportunities. Understanding what a stockbroker does provides insight into the responsibilities involved in financial intermediation and trade execution.

Internal management departments also employ professionals such as Financial Controllers, who are responsible for overseeing budgets, analysing variances and preparing financial reports.

Digital banking is creating further career opportunities in fields such as data science, software development, cybersecurity and fraud prevention. These specialisations require technical qualifications and continuous professional development.

How Much Can You Earn Working in a Bank?

Banking salaries in Spain depend on the role, experience, specialisation and financial institution. According to Spain’s National Statistics Institute (INE), the average annual salary in the financial and insurance sector was €48,922.80 in 2023. This figure covers a wide range of professions and levels of responsibility, so it should not be interpreted as the starting salary for a bank employee.

Salary progression is influenced by professional experience, responsibility for clients or teams, and technical expertise.

Variable compensation may supplement base salaries in sales, wealth management and executive positions, depending on each institution’s remuneration policies.

Employee benefits in the banking sector may also include:

• Preferential financial terms: loans or mortgages with special conditions for employees.
• Pension and retirement benefits: employer contributions to savings or pension plans.
• Employee benefits: health insurance, family support allowances or flexible benefits packages.
• Continuous professional development: internal training programmes focused on specialisation and career progression.

These conditions depend on the applicable collective bargaining agreement and each organisation’s policies. Not all employees are entitled to the same benefits.

What Are the Requirements to Work in a Bank in Spain?

To work in a bank in Spain, candidates must meet the educational and professional requirements of the specific role. There is no single qualification required for all banking positions. Administrative and customer-facing roles have their own requirements, while employees who provide information or advice on financial instruments must demonstrate specific knowledge and competencies.

Common entry requirements include:

• Relevant qualifications: vocational training, a university degree or specialised education related to the role.
• Professional skills: financial knowledge, analytical abilities and strong communication skills.
• Specific certifications: professional qualifications or regulatory training where required by the role.
• Recruitment process: interviews, knowledge tests and competency assessments.
• Ongoing professional development: training to keep up with banking products and procedures.

The Spanish National Securities Market Commission (CNMV) Technical Guide 4/2017 establishes criteria for the knowledge and competencies required of employees who provide investment information or advice.

Candidates interested in technology-related roles need a different skill set, typically involving programming, data analytics, cybersecurity or automation. Specialisation should reflect the requirements of the relevant department.

Building a career in banking starts with choosing qualifications that align with your professional goals. Degrees in Business Administration, Economics and Finance provide pathways into customer-facing and financial roles, while Law prepares graduates for regulatory positions and STEM degrees open up opportunities in technology. Combining education, professional skills and practical experience can help you build a successful career and progress into positions with greater responsibility.