Best Paying Jobs In Major Banks (Updated 2024)

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. But do banking jobs pay enough? This article will discuss all the Best paying jobs in major banks.

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

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 raising money.

You would require a bachelor’s degree in accounting, financial management, or business management. For some jobs in major banks, a master’s degree is also required. In addition, employers look for other qualifications: 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. Also, learn about what banking jobs pay and what qualifications you may require for the best-paying jobs, if they are meant for you.

You also shouldn’t miss our other popular posts in the best paying jobs category:

• Best Paying Jobs in Capital Goods
• Best Paying Jobs in Air Freight/Delivery Services
• Best Paying Jobs in Oil and Gas Production   
• Best Paying Jobs in Public Utilities    
• Best Paying Jobs in Real Estate Investment Trusts   

Table of Contents   

• Best Paying Jobs in Major Banks:
• Chief Technology Officer (CTO)
• Investment Banker:
• Personal Financial Advisor:
• Branch Manager:
• Relationship Manager:
• Portfolio Manager:
• Chief Financial Officer (CFO)
• Chief Compliance Officer (CCO)
• Chief Risk Officer (CRO)
• Internal Auditor:
• Conclusion: Best Paying Jobs in Major Banks?
• FAQs

Best Paying Jobs In Major Banks:

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

If you are also asking the question, what do major banks’ jobs pay? So without further ado, we will discuss the best-paying jobs in major banks.

1. Financial Analysts:

The primary 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 financial analyst average salary ranges from $48000 to $86000 for the likes of a chartered financial analyst. The banking industry has different financial analyst roles depending on the specialization—a graduate review of the 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 an excellent course that teaches practical, real-world knowledge in the following:

• Investment banking
• Private Equity Trader
• FP&A, treasury
• Corporate finance
• Corporate Development

2. Budget Analysts:

They help in preparing and allocating the budget. The budget analyst must analyze the company’s finances and suggest efficient spending to maintain financial stability. The budget analyst job is for you if you love preparing accounting and budgeting reports and monitoring budget spreadsheets. 

The annual budget analyst average salary is $54020.

3. 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 $99,240.

4. Chief Technology Officer (CTO)

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

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

CTO is responsible for integrating 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. For technical courses, go through the udacity review

5. Investment Bankers:

Next on this list of the highest-paying banking jobs is found in the investment banking category. The main role of an investment banker revolves around fundraising. He helps the bank raise funds through securities like bonds or stocks. Investment bankers also arrange for debt financing and handle stock and bond issues.

He handles mergers and acquisitions that bring financial gains just like an investment bank for the banks and advise on various profitable investment strategies. 

Many investment bankers navigate the bank through the legal requirements of fundraising. Aside from that, they also oversee other investment-related financial transactions on behalf of the bank and investment banking firms.

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

The average annual paycheck of an investment banker is $100,000.

6. Credit Analysts:

They are often known as loan officers. Their role consists of reviewing and analyzing the credit profile of potential borrowers. In addition, they determine the level of risk associated with the loan. 

These experts are in charge of creating credit reports and scheduling consultations with clients. Retail banking services are a part of the job descriptions of credit analysts.

To become a credit analyst, you would require a bachelor’s degree in finance, business, or accounting. The average annual paycheck of a credit analyst is $78,840.

A graduate review of Corporate Finance Institute.

7. 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 $87,850.

8. 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 bank branch employees. He is also responsible for the bank branch’s smooth financial functioning and solvency.

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

The average annual paycheck of a Branch Manager is $61,000. 

9. Relationship Manager:

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

A relationship manager must have complete knowledge of the bank’s products and services working with individual and corporate clients. 

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

The average annual paycheck of a relationship manager is $70,000.

10. 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. In addition, 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. However, some employers also prefer a master’s degree.

The annual portfolio manager average salary is $118,000.

11. Chief Financial Officer (CFO)

The Chief Financial Officer’s primary responsibility is supervising the bank’s financial operations and ensuring sound financial health. 

These financial professionals also assess the bank’s financial operations, assets, and liabilities and manage the bank’s cash flow, debt, and capital structure. In addition, he is responsible for the bank’s financial planning and ensures future growth. 

CFO manages financial teams and oversees the work of analysts. Therefore, he must have good knowledge of accounting and financial modeling, along with financial planning, and understand the financial markets.

The average annual paycheck of a Chief Financial Officer is $160,000.

12. Chief Compliance Officer (CCO)

With increased government regulations in the financial industry, the demand and salary of the Chief Compliance Officer have dramatically increased. 

Government regulations in banking have increased, and banks require officers to meet the legalities. CCO is responsible for record-keeping, reporting, and meeting all the other compliances required by the government.

The average annual paycheck of a Chief Compliance Officer is $160,000.

13. Chief Risk Officer (CRO)

Chief Risk Officer is a role of high importance with sound risk management strategies 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.

CRO ensures a good profitability position for the banks by monitoring the investments in various avenues. He also works with CCO to make sure all legal requirements have been complied with. 

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 $190,000.

Check this comparison article between CFI & WSP Financial Analysis Courses.

14. Internal Auditor:

An internal auditor is a person who reviews the accounts of the bank. He assesses the bank’s 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’s operations and generating more profits based on the bank’s internal structure and functioning.

To become an internal auditor, you would require a bachelor’s degree in finance, business, or accounting. The average annual paycheck of an internal auditor is $65,000. 

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.

FAQs:

Hope you find one of these best paying jobs in major banks.

Also Read:

Best Paying Jobs in Energy

Best Paying Jobs in Capital Goods

Best Financial Analyst Courses Online