Investment banking is a relatively broad term that covers many different activities within the financial services industry, from providing mergers and acquisitions advice to acting as a primary underwriter of new debt and equity securities. The best paying jobs in Investment Bankers/Brokers/Service are some of the highest paid jobs in the world.
Jobs within investment banking are some of the most sought-after in the financial services industry, primarily due to the high salaries and bonuses these positions command.
And It’s no secret that investment bankers, brokers, and other financial services professionals are some of the highest-paid workers in the world.
This article will discuss 15 of the best paying jobs in investment brokers and financial services expected to be in high demand in 2023.
Table of Contents
What is an Investment Broker?
An investment broker is a person or organization that manages investment transactions on behalf of a customer. Individual brokers frequently work for big brokerage firms.
Customers work together with Bankers/Brokers/Service to trade stocks and other investments. In addition, some broker-resellers manage investments on behalf of clients rather than working one-on-one with them.
A broker may give individualized financial planning assistance and investment advice depending on their service.
This type of broker provides comprehensive benefits. Discount bankers/brokers/service, on the other hand, help you carry out the deals you wish to make.
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Is Investment Broker a Good Career Choice?
Yes, an Investment broker is a great career choice. Although the work hours are notoriously long, investment bankers/brokers/services earn a great deal of money.
In becoming an investment broker, one needs to understand that although it is a lucrative job, your sales skills as one may be more valuable than your investment knowledge and intellect. This is because your sales skills will get you more clients.
What are the Best Paying Jobs in Investment Bankers/Brokers/Service?
- Investment Banker
- Stock Broker
- Financial Analyst
- Accountant
- Commodities Trader
- Relationship Manager
- Hedge Fund Manager
- Investment Manager
- Financial Planner
- Economist
- Actuary
- Insurance Agent
- Venture Capitalist
1. Investment Banker
Investment bankers are among the highest and best paying professionals in the financial services industry.
Typically, they earn salaries in the six-figure range; some even earn seven-figure salaries. Bonuses and commissions can also add significant money to their earnings.
Investment bankers typically work for banks, but several independent firms also focus on this work.
They advise companies on issuing new securities and help market them to potential investors. Investment bankers also have a bachelor’s degree in business or economics.
2. Stock Broker
Stock brokers are basically responsible for buying and selling stocks on behalf of their clients. They typically work for investment banks, but some also work for brokerages or other financial institutions.
Stock brokers typically need a bachelor’s degree in business or finance. They also need to pass the Series 7 exam to become licensed. Stock brokers also earn a commission on each trade that they make. The total amount of commission may vary depending on the type of trade and the brokerage firm.
However, it is common for stock brokers to earn several thousand dollars per year in commissions. In addition to their commissions, stock brokers may also make a salary and bonuses.
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3. Financial Analyst
The financial analyst position is also one of the best paying jobs in Investment bankers/brokers/services. Financial analysts are responsible for providing financial and investment advice to clients.
They help clients make informed decisions about where to invest their money. Financial analysts have a four-year degree in business or economics. They typically work for banks, insurance companies, or other financial institutions.
Financial analysts also earn a salary and a bonus at the end of each year. The amount of compensation depends on the accuracy of their advice.
4. Accountant
Accountants are responsible for keeping track of a company’s financial records. They ensure that all of the company’s income and expenses are accounted for accurately.
5. Commodities Trader
A commodities trader is one of the best paying jobs in the investment banking industry. This trader buys and sells commodities like oil, gas, gold, and silver. They work with clients to invest in these commodities.
Commodities traders also have a four-year degree in business or economics. They also have several years of working experience in the investment banking industry. This type of trader makes a salary of $100,000 or more yearly.
6. Relationship Manager
Relationship managers are basically responsible for managing relationships with clients. They provide advice on investments and help clients make decisions about their finances.
Relationship managers also have much experience in the financial industry. They must be able to understand complex financial information and give clear advice to clients. They earn up to $200,000 per year.
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7. Hedge Fund Manager
Hedge fund managers are some of the best paying people in the investment banking industry. They typically earn a base salary of $1 million or more, plus a percentage of their firm’s profits.
Hedge fund managers have much responsibility. They make investment decisions for their firm and are responsible for generating profits. They must also manage risk and keep their clients happy.
Hedge fund managers also have much experience in the financial industry. Many have worked as investment bankers or brokers before starting their hedge funds. They also deeply understand the markets and how to make money in them.
8. Investment Manager
An investment manager is one of the best paying jobs in investment banking. Investment managers are responsible for managing portfolios of investments, including stocks, bonds, and other financial assets.
They work with clients to determine their investment goals and develop strategies to help them reach them. Investment managers typically earn a base salary plus a bonus based on the performance of their portfolios.
9. Financial Planner
Financial planners help people to save for their future and make wise investments. They work with clients to develop long-term financial plans.
Financial planners typically have a bachelor’s degree in finance or a related field. Many also hold certification from the Certified Financial Planner Board of Standards. Financial planners earn an annual salary of $60,000 to $120,000.
10. Economist
Economists are one of the best-paid professionals in the investment banking industry. They typically earn six-figure salaries and often receive bonuses that add up to hundreds of thousands of dollars.
Economists typically work for large investment banks or financial firms.
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11. Commercial Banker
Commercial bankers are responsible for lending money to businesses. They work with businesses of different sizes, from small businesses to large corporations. Investment bankers typically have a bachelor’s degree in business or economics.
Commercial banks are the most common type of bank. They offer checking and savings accounts, loans, and other financial products to consumers and businesses.
Commercial banks are regulated and authorized by the Federal Reserve System. Investment bankers typically work for commercial banks. They help businesses raise capital by issuing and selling securities.
12. Actuary
Actuarial science is one of the best paying jobs, not just in investment banking and financial services but in any industry. With mathematics and statistics, Actuaries assess risk and uncertainty in financial, business, and social systems.
They use their findings to develop plans that minimize the cost of events that could adversely affect an organization.
The median salary for an actuary is $101,560 per year. Actuaries who work in the securities and commodities industry earn a median salary of $115,120 per year. Also, actuaries who work in the insurance industry earned a median salary of $106,340 per year.
Actuaries need at least a bachelor’s degree to enter the profession. Many actuaries also earn professional certifications, such as the Associate of the Society of Actuaries (ASA) or the Chartered Property Casualty Underwriter (CPCU).
13. Insurance Agent
Insurance agents are one of the best paying jobs in the investment bankers/brokers/service/brokerage/service industry. They typically earn a base salary plus commissions and bonuses.
Insurance agents typically work for insurance companies or brokerages. They sell insurance policies to individuals, businesses, and organizations.
To sell insurance, insurance agents need to have a license. Also, they must pass an exam administered by the state where they will sell insurance. They must complete continuing education courses to keep their license active.
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14. Real Estate Agent
Real estate agents are one of the best paying jobs in investment bankers/brokers/service. They typically earn a commission on each sale, which can add up to much. However, the average salary for a real estate agent is $73,000 per year.
Real estate agents also work for brokerages, which are firms that help people buy and sell properties. Brokerages typically take a percentage of each sale that an agent makes.
The average commission rate for a real estate agent is 2.5%. This means that for every $100,000 in sales an agent makes, they will earn $2,500 in commissions.
Real estate agents need to be licensed to work. They also need to have a good knowledge of the local real estate market and be able to negotiate competently on behalf of their clients.
15. Venture Capitalist
Venture capitalists are one of the best paid jobs in the investment bankers/brokers/service industry. They work with startups and small businesses to provide them with funding. They receive a percentage of the company’s equity in exchange for their investment.
Venture capitalists typically make money if the companies they invest in are successful. They often make millions of dollars when companies go public or are sold. Venture capitalists also have the potential to make money if they invest in companies that become very successful.
Why Choose a Career in Investment Bankers /Brokers/Service?
There are many reasons to choose a career in investment bankers/brokers/services.
1. High earning potential
Investment bankers, brokers, and service providers have the potential to earn high salaries. This is due to their work, which often involves large sums of money.
Investment bankers, for example, often work on deals worth millions or even billions of dollars. As such, they can often command high salaries.
Similarly, brokers who work with clients to invest their money often have the potential to earn high commissions. And service providers who work with investment firms to provide research and other services also have the potential to earn high fees.
2. Valuable benefits packages
Investment bankers, brokers, and service providers typically offer very valuable benefits packages to their employees. These benefits include health insurance, retirement savings plans, and paid time off. Many companies also offer bonuses and other incentives.
Employees in these industries earn high salaries. Investment bankers, for example, earn an average salary of $85,000 per year. Brokers earn an average salary of $74,000 annually, and Service providers earn an average salary of $66,000 annually.
3. Powerful networking
Investment bankers, brokers, and service providers have some of the best-paying jobs in the world. They often earn high salaries and bonuses. But what many people don’t realize is that these jobs are also very demanding.
To succeed in these fields, you need strong networking skills. You need to be able to connect with people and build relationships. You also need to be able to sell yourself and your services.
These jobs require long hours and sometimes involve working on weekends.
How To Get A Job In Investment Bankers/Brokers/Service
1. Acquire a bachelor’s degree in finance or a related field
It would help to acquire a bachelor’s degree in finance or a related field.
- Consider pursuing a master’s degree in finance if you want to advance your career.
- Start working as an investment banker or broker.
- Build up your experience and knowledge in the field.
- Finally, Become a partner at an investment firm or start your firm.
2. Register with FINRA and obtain certification
To become an investment banker, broker, or service provider, you must first register with the Financial Industry Regulatory Authority (FINRA).
This is the authorizing body that oversees the financial industry. To register, you must also pass a series of exams. These exams test your knowledge of the financial sector and the securities market.
3. Take part in on-the-job training.
One of the best ways to start an investment banking or brokerage career is to take part in on-the-job training. This training will open you up to the ropes in the field from experienced professionals.
What Skills are Required to be an Investment Banker?
- Investment bankers must have excellent analytical and mathematical skills.
- They must be able to understand and interpret financial data.
- Lastly, they must also communicate well with clients and other professionals.
Conclusion
A career in investment banking, brokering, or servicing can be very lucrative. If you are considering a job in one of these fields, it’s essential to research the different options and find the one that best suits your skills and interests. You could earn an excellent salary and enjoy a long and successful career with the right job.
FAQs
Investment bankers are typically the highest paid employees in a bank. They work on deals involving the buying and selling stocks, bonds, and other securities. Investment bankers also have a four-year degree in business or economics.
Goldman Sachs, JP Morgan, and Morgan Stanley are all known for paying high salaries to their investment bankers. These companies are located in major financial hubs like New York City and London.
1. Investment Banker
2. Stock Broker
3. Financial Analyst
4. Accountant
5. Commodities Trader
6. Relationship Manager
7. Hedge Fund Manager
8. Investment Manager
9. Financial Planner
10. Economist
12. Actuary
13. Insurance Agent
15. Venture Capitalist
References
- Indeed.com – Highest Paying Finance Jobs
- bestcollegesonline.org – Highest Paying Jobs in Business
- universityhq.org – Becoming a Stock Broker Careers
- learnhowtobecome.org – Become a Stockbroker
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