Best Paying Jobs In Major Banks (2022 Updated)

Best Paying Jobs In Major Banks

The finance and banking sectors have the most lucrative jobs. As you have to deal with other people’s money, the banking field is stressful. In this article, we will discuss all the Best paying jobs in major banks.

However, it compensates for the stress with the best-paying jobs. The banking and finance sector holds attractive salaries for entry levels. Plus, over the years, you can learn and move up the ladder.  

If you have an eye for detail, enjoy managing money and watch it grow, the banking industry can be your job provider. The banking sector has diverse job roles that pay well for managing and growing money.

You would require a bachelor’s degree in accounting, financial management, or business management. For some job roles, a master’s degree is also required. Other qualifications employers look for are Certified Chartered Accountant, Certified Financial Analyst etc. 

Interested in the banking and financial sector and want to know the lucrative career options in the banking sector? In this article, we will discuss the best-paying jobs in major banks. Learn about the best-paying jobs, qualifications you may require and decide if they are meant for you.

Best Paying Jobs In Major Banks:

The banking sector provides good compensating 9 to 5 jobs and many other benefits. As a result, they are often highly competitive, with people looking for one break and get into the sector.

Without doing further ado, we will jump in and discuss the best-paying jobs major banks offer.

Financial Analysts:

The main role of financial analysts is to help businesses and individuals make investment decisions. They analyze the financial data and help the bank make decisions. The annual paycheck of financial analysts ranges from $48000 to $86000.

The banking sector has different financial analyst roles depending on the specialization like.

A graduate review of best financial analyst course.

Best Platform & Course To Become Financial Analyst:

The chances increase to land a job if you successfully complete FMVA.It is a great course if you can which teaches practical real-world knowledge:

  • Investment banking
  • Private equity
  • FP&A, treasury
  • Corporate finance
  • Corporate development

Budget Analyst:

They help in preparing and allocating the budget. The budget analyst must analyze the finances of the company and give suggestions to spend money efficiently. If you love preparing and monitoring budget spreadsheets, the budget analyst job is for you. The average annual paycheck of a budget analyst is $54020.

Equity analyst:

Equity analysts dig deep into financial reports and balance sheets of businesses. They study market trends and predict the company’s profitability in the future. Decisions relating to an investment in equity depend upon the financial analysis of the equity analyst. An equity analyst job requires a master’s degree and is hard to get. The average annual paycheck of an equity analyst is $99240.

Investment Banker:

The main role of an investment banker revolves around fundraising. He helps the bank raise funds through securities like bonds or stocks. Apart from handling stock and bond issues, investment bankers also arrange for debt financing.

He handles mergers and acquisitions that bring financial gains for the banks. Investment bankers navigate the bank through the legal requirements of fundraising.

You will require a bachelor’s degree in finance, business, or accounting to become an investment banker, along with knowledge in the stock market and financial legalities.

The average annual paycheck of an investment banker is $100000.

Credit Analyst:

They are often known as loan officers. Their role consists of reviewing and analyzing the credit profile of potential borrowers. They determine the level of risk associated with the loan. You would require a bachelor’s degree in finance, business, or accounting to become a credit analyst. The average annual paycheck of a credit analyst is $78840.

A graduate review of Corporate Finance Institute.

Personal Financial Advisor:

Personal financial advisors help individuals and businesses manage money to meet their short and long-term goals. They understand individual requirements like retirement plans, paying college fees, raising money for business, etc., and suggest the best options to meet their needs.

They also guide them through tax benefits or exemptions. The average annual paycheck of a personal financial advisor is $87850.

Branch Manager:

Every bank has branches spread across the city. It is the responsibility of the branch manager to oversee the work of all the employees of the bank branch. He is responsible for the smooth financial functioning and solvency of the bank branch.

Passing high-value loans, upselling the bank’s products and services to the customers along with the bank’s daily operations is the manager’s job.

The average annual paycheck of a Branch Manager is $61000

Relationship Manager:

A Relationship Manager is responsible for developing and maintaining the relationship between the bank and its customers. They work with the customers and help them choose the product that suits the customer’s needs the best.

Working with both individual and corporate clients, a relationship manager must have complete knowledge of the bank’s products and services. 

Bachelor’s degree isn’t mandatory for a relationship manager role. However, you need to have a good understanding of the banking sector and soft skills.

The average annual paycheck of a relationship manager is $70000.

Portfolio Manager:

The portfolio manager determines the investments to be made by the bank and its customers. He analyses the markets, stock prices, company valuations, and other financial data.

Continually involved in market research, he manages the investment portfolio to gain returns on investment. Banks hire portfolio managers to take care of the bank’s portfolio and assist customers by providing portfolio management services.

Bachelor’s degree in finance, business, or accounting, along with good knowledge and experience in market research and company valuation, is required to become a portfolio manager. Some employers also prefer a master’s degree.

The average annual paycheck of a portfolio manager is $118000.

Chief Technology Officer (CTO)

With technological advancements in the banking sector and the evolution of fintech, banks need to incorporate the technology in their regular activities. This is considered one of the best paying jobs in major banks.

These include internet banking services, mobile applications, and tons of other banking facilities the bank provides to its customers.

CTO is responsible for integrating the technology with banking products and services to ensure the smooth functioning of the banks.

The average annual paycheck of a Chief Technology Officer is $160000.

Chief Risk Officer (CRO)

Chief Risk Officer is a role of high importance not only in banks but in all financial firms. He is the one who is responsible for looking for events that may threaten a bank’s profitability and financial solvency.

Monitoring the investments in various avenues, CRO ensures a good profitability position of the banks. He also works with CCO to make sure all legal requirements have complied. 

The skillset of CRO includes high analytical ability, superior problem-solving skills, and risk assessment skills. The average annual paycheck of a Chief Risk Officer is $190000.This is a comparison article between CFI & WSP.

Chief Financial Officer (CFO)

The main responsibility of the Chief Financial Officer is to supervise all the financial operations of the bank. It includes assessing the assets and liabilities of the bank, managing the cash flow, debt, and capital structure of the bank. He is responsible for the financial planning of the bank and ensures future growth. 

CFO manages financial teams and oversees the work of analysts. He must have good knowledge in accounting and financial modeling along with financial planning and other skill sets.

The average annual paycheck of a Chief Financial Officer is $160000.

Chief Compliance Officer (CCO)

With an increase in government regulations in the financial industry, the demand and salary of the Chief Compliance Officer have dramatically increased. Government regulations in the banking sector have increased, and banks require officers to meet the legalities. CCO is responsible for record-keeping, reporting, and meeting all the other compliances as required by the government.

The average annual paycheck of a Chief Compliance Officer is $160000.

Chief Risk Officer (CRO)

Chief Risk Officer is a role of high importance not only in banks but in all financial firms. He is the one who is responsible for looking for events that may threaten a bank’s profitability and financial solvency.

Monitoring the investments in various avenues, CRO ensures a good profitability position of the banks. He also works with CCO to make sure all legal requirements have complied. 

The skillset of CRO includes high analytical ability, superior problem-solving skills, and risk assessment skills. The average annual paycheck of a Chief Risk Officer is $190000.This is a comparison article between CFI & WSP.

Internal Auditor:

An internal auditor is a person who reviews the accounts of the bank. He assesses the bank finances and how effectively the bank is working.

It is the role of the bank’s internal auditor to make recommendations on streamlining the bank operations and generating more profits based on the bank’s internal structure and functioning.

You would require a bachelor’s degree in finance, business, or accounting to become an internal auditor. The average annual paycheck of an internal auditor is $65000. 

Conclusion: Best Paying Jobs In Major Banks?

The best paying bank jobs are entry to mid-level jobs that require a bachelor’s degree in finance, business, or accounting. Additional certifications in finance-related fields help in climbing up the corporate ladder early. But, the highest paying jobs require years of experience and proven managerial ability.

I hope this article helped you understand the job roles and requirements in the banking sector. If the banking sector is your cup of tea, gain the required skills and apply for the position which is the best fit for you.

Jhanvi Shah

Experienced Freelance Content Writer, Digital marketer and BBA Graduate. I write content that leaves a lasting impact on the readers and helps businesses build authority and trust.

My Story.

FaQs:

What is the highest paying banking job?

The highest paying bank jobs are the top managerial ones like CEOs, CFOs, CROs, CCOs, and CTOs. Landing on these job roles requires years of experience and proven managerial abilities.

Which bank pays the highest salary in the US?

The highest paying banks in the US include- American Express Amex, Capital One Financial Corporation, JP Morgan Chase, Morgan Stanley, etc.

What should I major into work in a bank?

To get an entry-level or mid-level job in a bank, you need to have a Bachelor’s degree in accounting, finance, or other banking-related fields. You also need to know the banking business practices and regulatory compliances of a bank.

Once securing an entry-level or mid-level bank job, you can learn other skills, courses, or degrees required to climb the corporate ladder. The best way to climb the corporate ladder is by learning while on the job.

How can I get a bank job with no experience?

You can get experience in handling money and customers by working as a cashier. Then apply for the bank teller role. Once you get the job of a bank teller, you can learn while on the job and move to higher positions.

How do I start a career in banking?

Get a Bachelor’s degree in accounting, finance, or other banking-related fields. 
Gain knowledge on banking business practices and regulatory compliances of a bank and appear for banking exams.
Learn while on the job and climb the corporate ladder by doing required certification courses.

Hope you find these best paying jobs in major banks.

Also Read:

Best Financial Analyst Courses Online

Leave a Comment

Your email address will not be published. Required fields are marked *