13 Highest Paying Bank Jobs

Jobs in major banks can be quite profitable. That means they’re in high demand, with entry requirements as high as the pay scales. These jobs start with above-average salaries and quickly climb into the stratosphere.

However, the finance industry is diverse and offers a wide range of options. You could work in a corporation’s finance department, in the banking and financial services industry, or investment banking or the financial markets.

A bachelor’s degree is the minimal qualification for most of them, and many professionals have advanced degrees.

Here’s a rundown of best-paying jobs in major banks. Choose from a variety of financial professions in the banking business if you desire a high-paying job. Although the field might be difficult, it will highly compensate you.

What Is the Highest-Paying Banking Job?

Top management positions at banks, such as Chief Executive Officer (CEOs), Chief Financial Officers (CFOs), Chief Risk Officers (CROs), Chief Compliance Officers (CCOs), and Chief Technology Officers (CTOs), pay the best.

Obtaining these positions requires that you garner years of experience and exhibit managerial talents.

What Major Should I Pursue If I Want to Work in A Bank?

You’ll need a Bachelor’s degree in accounting, finance, or another banking-related discipline to earn an entry-level or mid-level career at a bank. You must also be familiar with a bank’s business procedures and regulatory compliances.

You can study other skills, courses, or degrees required to climb the corporate ladder once you’ve secured an entry-level or mid-level bank job. The best way to climb the corporate ladder is by learning while on the job.

How Can I Begin my Banking Career?

Obtain a bachelor’s degree in accounting, finance, or a similar field in banking.

Prepare for banking examinations by learning about banking business practices and regulatory compliances.

By taking appropriate certification classes, you can learn on the job and advance up the corporate ladder.

13 Highest-Paying Bank Jobs

Learn about the top highest-paying bank jobs, as well as the skills you’ll need to attain one and the responsibilities that each position requires. Next, determine whether a career in banking is right for you.

#1. Portfolio Manager – $118, 752

You decide how your clients’ money should be invested as a portfolio manager. To make informed selections, you’ll need to keep researching the markets, corporate earnings, and stock prices.

A bachelor’s degree in finance or economics is required to work as a portfolio manager, however, most portfolio managers have a master’s degree. You’ll also need to take lessons in stock and bond valuation, capital markets, and financial statement analysis. You’ll be expected to get the Chartered Financial Analyst designation once you’ve been recruited.

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#2. Investment banker – $100, 675

Investment bankers assist banks, corporations, and governments in raising capital for new projects and expansions. If you work in investment banking, you’ll locate investors to gain the securities that will pay for the project, such as government bonds or stocks for public firms.

Investment bankers can assist their clients in navigating the complicated legal obligations that come with raising funds. Though it is feasible to enter the sector with only a bachelor’s degree, most candidates pursue MBAs to increase their marketability. Most also pursue extra certifications such as Chartered Financial Analyst.

#3. Equity Analyst – $99,240

An equity analyst is a professional who researches and analyzes financial data and trends for a company or industry. To forecast how a company will perform in the future, he must delve into bank balance sheets and annual reports, as well as market trends in a sector.

It’s not simple to land a job as an equity analyst. You’ll almost always require an MBA and connections in the sector. By concentrating on a specific market sector, you can make yourself more appealing to companies.

#4. Wealth Manager – $94,231

A bank wealth manager position could be your dream job if you appreciate managing other people’s money. Individuals and families will be your clients, and you will be in charge of their financial planning.

You won’t just be assisting customers with budgeting; you’ll also be managing their investments and ensuring that clients are properly insured to manage risk. You could also be able to assist them in maximizing the tax benefits of their charitable giving, as well as estate and company succession planning.

To get started, you’ll need at least a bachelor’s degree, and possibly a master’s degree. You can earn certifications like Chartered Financial Analyst or Certified Financial Planner after a while on the job.

#5. Foreign Exchange Trader – $89,131

Foreign exchange traders are at the forefront of the world’s currencies gaining and losing value. Successful foreign exchange traders research the currency market to determine which currencies are likely to appreciate.

This is not a vocation for the faint of heart because the currency is vulnerable to significant volatility. You’ll need a bachelor’s degree in math, economics, or statistics to get started if you decide this is the path for you.

#6. Fixed Income Analyst – $76,061

Bonds and bond funds are examples of fixed-income investments that payout regularly. A fixed-income analyst selects the investments that make up a portfolio’s fixed-income component.

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He determines the value of the underlying securities, offers investment advice, and monitors ongoing performance. To work as a fixed income analyst, you’ll need a bachelor’s degree in accounting, finance, or a similar profession.

#7. Equities Trader – $71,913

On behalf of a financial institution and its clients, an equity trader buys and sells stocks, as well as options, futures, commodities, and derivatives. He can also devise ways for clients to track previous data and forecast market movements in the future.

More prominent metro locations, such as New York, Chicago, and Los Angeles, have a lot of equities trader positions. Equities traders are required to register with the Financial Industry Regulatory Authority and normally have a degree in finance or business.

#8. Asset Manager – $67,000

Asset managers select the finest portfolios to match their clients’ financial needs and apply their knowledge to build client portfolios that achieve their objectives while minimizing risk. To get your foot in the door, you’ll need a financial degree, and you can continue to learn while pursuing additional qualifications that will increase your compensation.

#9. Relationship Manager – $66, 040

Client relationship managers assist customers in determining which products and services are most suited to their needs. A relationship manager, for example, would work with a bank client to locate the ideal mortgage or investment account for him.

Relationship managers often focus on working with an individual or corporate clients. Although no special degree is required for this position, you must be knowledgeable about the banking business and have great communication and selling abilities.

#10. Bank Manager – $61,209

Bank managers are in charge to oversee the day-to-day operations of a branch. Everything from upselling the bank’s goods to providing customer service to managing workers falls under this category.

You can become a bank manager by earning a bachelor’s degree in accounting, business, or economics, or by working your way up through the ranks of a bank. You’ll also attend continuing education seminars as a bank manager.

#11. Internal Auditor – $60,000

An internal auditor examines a bank’s finances to determine how well it is operated. The internal auditor examines the company’s internal control structure and gives recommendations on how to streamline processes and increase profits.

Internal auditors usually have a bachelor’s degree in accounting, business administration, computer information systems, or finance, but this isn’t required. Internal auditors who have earned the Certified Fraud Examiner accreditation earn roughly 23% more than those who do not.

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#12. Budget Analyst – $54,020

This profession may be ideal for you if you appreciate budgeting and tracking expenditures. Budget analysts help businesses plan how they will spend their money. Throughout the year, the budget analyst reports on how money is spent and makes recommendations for cost-cutting.

Although you may be able to gain an entry-level job as a budget analyst if you have relevant work experience, you will normally need a bachelor’s degree in finance, economics, or a related discipline. Some employers, on the other hand, need at least a master’s degree.

#13. Credit Analyst – $48,840

By evaluating potential borrowers’ credit records, credit analysts assist banks in determining whether to offer loans. Credit analysts determine the level of risk connected with a loan by examining each borrower’s financial information.

Credit analysts use computer tools to assist them in determining the risk levels of borrowers. They don’t work entirely behind a screen, though; they meet with clients and help them with any issues that arise. A bachelor’s degree in banking, business, or accounting is required to work as a credit analyst.

Frequently Asked Questions

  1. How do I start a career in banking?
    You can start a banking career by obtaining a bachelor’s degree in Accounting, Finance, or other related fields. You can also gain a background knowledge on how a banking sector operates.
  2. Can I get a bank job with no experience?
    Of course, you can. You can start off by working as a cashier after which you apply for the bank teller position and learn on the job while going up the radar.
  3. Which banks in the US pay the highest salary?
    The highest paying banks include; JP Morgan Chase, Morgan Stanley, Capital One, etc.
  4. What positions are the best-paying bank job?
    Positions such as Chief Executive Officer (CEOs), Chief Financial Officer (CFOs), Chief Risk Officer (CROs), Chief Compliance Officer (CCOs), and Chief Technology Officer (CTOs), pay the best.

Conclusion

The nicest aspect about the banking profession is that you can eventually choose from a variety of banking job titles in addition to the traditional bank teller and loan officer responsibilities.

Hence, putting your attention to detail to good use.

References

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