Growing Industries in Southwest Minnesota: Depository and Nondepository Credit Intermediation

Banks & Financial Institutions (Depository & Nondepository Credit Intermediation)

This industry comprises establishments primarily engaged in accepting time deposits, making mortgage and real estate loans, and investing in high-grade securities. Savings and loan associations and savings banks are included in this industry. This industry group also comprises establishments primarily engaged in accepting deposits (or share deposits) and in lending funds from these deposits. Within this group, industries are defined on the basis of differences in the types of deposit liabilities assumed and in the nature of the credit extended. This industry group also comprises establishments, both public (government-sponsored enterprises) and private, primarily engaged in extending credit or lending funds raised by credit market borrowing, such as issuing commercial paper or other debt instruments or by borrowing from other financial intermediaries. Within this group, industries are defined on the basis of the type of credit being extended.

(Occupational titles are links to ISEEK career information pages that will open in a new window,
where you can study the career description, work activities, and plan your education)

Occupations in Demand for Banks & Financial Institutions

Tellers	$23,007	250		8.5%	561	Short-term on-the-job training
Customer Service Representatives	$27,710	670		13.6%	879	Moderate on-the-job training
Office Managers	$39,764	640		0.4%	312	Related work experience
Loan Officers	$55,622	200		13.0%	152	Bachelor's degree
New Account Clerks	$31,348	30	One	-20.0%	44	Related work experience
Financial Managers	$87,667	260		4.6%	88	Bachelor's deg. + work exper.
Loan Interviewers & Clerks	$32,090	90		-8.3%	36	Short-term on-the-job training
Bookkeeping, Acctg., & Auditing Clerks	$27,746	870		5.4%	744	Moderate on-the-job training
General Office Clerks	$23,690	1,560		7.6%	1,402	Short-term on-the-job training
Securities, Commodities & Financial Services Sales Representatives	$54,687	130		15.1%	89	Bachelor's degree
General & Operations Managers	$65,508	750		-4.1%	534	Bachelor's deg. + work exper.
Accountants & Auditors	$49,898	490		7.9%	373	Bachelor's degree
Bill & Account Collectors	$27,809	80		2.5%	28	Short-term on-the-job training
First-line Supervisors of Non-Retail Sales Workers	$63,779	170		-4.1%	59	Related work experience
Sales Representatives (Mfg. & Services)	$40,743	640		2.0%	369	Moderate on-the-job training
Sales & Marketing Managers	$106,201	240		1.5%	96	Bachelor's deg. + work exper.
Financial Analysts	$56,534	90		11.7%	19	Bachelor's degree
Source: Minnesota Dept. of Employment & Economic Development 1st Quarter 2009 Median Salary Data from the Minnesota Salary Survey for Region 6W and Region 8 Current Demand Data from the Occupations in Demand Tool for Region 6W and Region 8 Projected Employment Data from the 2006-2016 Minnesota Employment Projections Program for Southwest Minnesota

Click here to go back to the list of growing and emerging industries

Click here to return to the Southwest Minnesota Careers home page