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What do candidates mean by 'a good job at a non-bank?

Good Job at a non-Bank

Written by Eric Zhu
Jun 06, 2016
Submitted by Eric Zhu on Mon, 06/06/2016 - 08:26

We'e noticed many candidates asking for 'a good opportunity at a non-bank, but what is it and why do they want one?

19th century banking vs 21st century internet-based financing: a conversation between old order and new players?

In the British TV series Poldark, when the entire mining market of Cornwell was going through a hard time, the burgeoning bankers, the Warleggan and his son, grasped the opportunity to control many mineral resources in the county in the form of commercial loans. However, the mine owners refused to be the meat of bankers. Therefore, the hero of this novel, Ross Poldark, established the alliance of local business owners, planning to compete with bankers by taking advantage of industrial resources. After several years’ competition, the two sides had both gains and losses. At last, both of them realised that their territories had been stable, and thus they redrew the demarcation line. With the new players entering the old order, the new world was formed. 

On the perspective of an England mine owner in 19th century, the author narrated the story of conflicts between the new-born banking and the old system. Behind the screenplay full of love and hatred plots, the author also pointed out an incontestable fact: as society and technology develops, the traditional industry would be challenged by emerging industries, and the new industries would get injured frequently because of their immaturity. The downturn of traditional industry provided business opportunities for the banking industry, while the bankers ran at a loss for many time because of their little knowledge about products.

Now, as circumstances change with the passage of time, the new players in the past have been confronted with challenges from inferiors. The financial system becomes variable for the impact of the financial crisis, and the rise of computer technology allows small-scale participators to see the possibility of shortening the gap between international giants and them. The decline of one means the growth of the other.

In recent years, the thriving development of the non-bank financial institutions makes them the favourite option for many job-hunters. During conversation, many candidates ask,  “If there is a good opportunity of non-bank job, please keep an eye out for it.”

So the question is - what do candidates mean by 'a good opportunity of non-bank job?'

There may be two meanings of this sentence:

1. This opportunity is from a good non-bank financial institution.

2. The work content is very good.

A good 'non-bank' financial institution

There are thousands of financial institutions, and their products and teams vary from each other. How does one judge an institution easily?

After discussing with many industry insiders, I have come to these conclusions:

  1. Complementary product line
  2. Operation compliance
  3. Capital chain without significant risks.

The completeness of product lines determines the attraction for clients of a company, and the operation compliance and capital chain security means the long-term sustainable development of institution itself.

A good non-bank institution may not be a very profitable organisation, but must be a stable organisation from front desk to back office. Those who stand on tiptoe are not steady. Those who strain their strides cannot long keep up with the pace. Many companies which have had rapid expansion and excessive “wolf cultures” now have been struggling to conduct the internal restructuring, like the Zhongjin booming hundreds of days, and disappearing overnight. It is the fast way to take it slow and stable.

The work content

The decisions on whether to stay or move and then the acceptation versus rejection varies from person to person in different periods.  And it is a question full of variability. Regardless of the change of position and thinking, the fact that work is the communication between people is unchangeable. The business skill can be learned, and the capacity can be trained, but the corporate culture and team atmosphere are difficult to alter on an individual level.

The famous Grant Study by Howard University spent 76 years tracking the life of 268 graduates to analyse the essential reasons why people are happy and successful. Finally, the researchers concluded a natural and right cliché. It’s not because of the IQ, not family background, but the intimate relationship and love. It means that the intimate relationship, such as a comfortable working environment, a delightful team, or a good supervisor, gives the influence on career probably far more than the price increase of basic wage.

In summary, both rising during the decadence of traditional industry, bank and non-bank institutions have accumulated many side-effects of development, because of the rapid expansion and neglecting of internal restructuring. On the examination of job opportunity from non-bank institutions, the analysis of the rationality of business and the arrangement of team numbers can help you with more efficient judgment.

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