Skip to: Navigation, Content
  1. Eligibility To Work
  2. Before You Leave Home
  3. Setting Up A Bank Account
  4. Inland Revenue Requirements
  5. Contract or Permanent
  6. Commerce vs Banking
  7. Cost Of Living
  8. Useful Information

Commerce vs Banking

Destination: New Zealand

Buildings

Commerce

The commerce sector is extremely diverse and offers a broad choice of company types, sizes and roles. Like other countries, except on a smaller scale, New Zealand has most major industries covered, including a strong primary sector. Working in the public sector is generally limited to the Wellington, where government is situated. Outside of Wellington and Auckland, where the major banks are located, commerce is the only real option.

Choosing one industry in the commerce sector over another really comes down to personal interest. Once you’ve determined the industry in which you want to work, you need to consider the factors which shape a company’s working environment. Understanding the following details should help you make an informed choice:

  • The size of the company or department.

  • Whether it offers a steep or flat hierarchy.

  • If there is a clear career path.

  • How entrepreneurial the company is (typically the smaller the environment the greater the opportunity to change things).

  • Opportunities for travel.

Banking

New Zealand offers very little in the way of investment banking. The five main retail banks are owned by Australian banks and, as a result, the operations are rationalised and performed in Australia. The cities of Auckland and Wellington are where the main retail banks are located.

Working in the banking sector is challenging and constantly evolving; every day new financial products, ways of protecting against risk and technology are created. Companies in the banking sector – banks and financial services institutions – look to employ top quality candidates and offer competitive salaries, including the possibility of bonuses.