18 Best Paying Jobs In Major Banks In 2024 | Highest Paying Bank Jobs
18 Best Paying Jobs In Major Banks | Highest Paying Bank Jobs. You might give some thought to working at a major bank when searching for a well-paying job. The banking industry is easily one of the most competitive when it comes to finding a job.
This is even true in regard to entry-level positions, as it’s almost entirely unheard of to jump into and build a successful career in the industry without starting near the bottom and working your way up. The highest-paying jobs, and therefore the most competitive, in the financial industry, including four chief executive positions and investment professionals at hedge funds, are even harder to land.
Below we will explain the best paying jobs in major banks, stating the advantages of working in a bank.
What is a Major Bank?
The term “major bank” refers to any Federal Reserve Bank or its branch, which includes Chase Bank, N.A., Credit Suisse, JPMorgan and Deutsche Bank AG. It is any bank or trust corporation incorporated under the laws of the United States of America or any of its states and with a combined capital and surplus of at least $100,000,000.
What are the Highest Paying Jobs in Major Banks?
- Chief Financial Officer (CFO)
- Tellers
- Credit Analysts.
- Investment Bankers.
- Accountants and Auditors
- Accounting Manager.
- Equities trader.
- Portfolio manager.
- Financial Analyst.
- Branch Managers
- Budget Analyst
- Loan Officers.
Is Banking and Finance a Good Career Path?
Yes, it is. The banking industry continues to be one of the most difficult, challenging, and rewarding in the corporate world. Being a finance professional who also happens to be tech-savvy is one of the most attractive career options available right now.
What are the 15 Best-Paying Jobs in Major Banks?
1. Accounting Manager: $75,216 per year
As an Accounting Manager, you’ll be responsible for making sure financial reports are accurate and up-to-date. Periodic activity reports and a yearly budget proposal are produced for upper management. They are the ones who are accountable for making sure that the company’s financial records are correct and up-to-date at all times.
2. Financial Analyst: $83,660 per year
A financial analyst is a professional whose main job is to do financial analysis for clients inside or outside the company. The job title could be securities analyst, research analyst, equity analyst, investment analyst, ratings analyst, or something else. They are in charge of looking at financial data to advise management or customers. For most jobs as a financial analyst, you need a bachelor’s degree in finance or economics.
3. Branch Managers: $60,958 per year
A branch manager is an executive who supervises a division or office of a large corporation or organization that operates locally or for a specific purpose. The branch manager is responsible for managing resources and personnel, establishing and achieving sales objectives, providing customer service, and increasing the location’s revenue.
4. Tellers: $36,310 per year
A bank teller is an employee whose tasks include handling cash and negotiable instruments for customers. This employee is sometimes referred to as a cashier or customer service representative. Additionally, tellers provide ordinary customer assistance in a branch. Teller jobs normally require high school diplomas or their equivalents and offer good pay and a variety of benefits.
5. Credit Analysts: $53,778 per year
A credit analyst is a person employed by a business to evaluate the solvency of current and prospective customers, as well as to aid in the continuing management and modeling of credit risk. A credit analyst collects and evaluates financial information on loan applicants, such as payment patterns and histories, wages and savings, and expenditures. The credit analyst then advises either loan approval or refusal.
6. Investment Bankers: $62,462 per year
Investment banking refers to the advisory-based financial transactions conducted by a financial services organization or corporate division on behalf of individuals, corporations, and governments. An investment banker is a financial professional who helps clients raise capital by underwriting and issuing securities.
8. Accountants and Auditors: $73,560 per year
Accountants and auditors at major banks are in charge of ensuring that their companies’ finances are in good shape. Accountants and auditors verify the correctness and legality of financial statements. Accountants and auditors create and review financial records, identify potential areas of opportunity and risk, and help organizations and people with solutions.
9. Budget Analyst: $78,970 per year
Budget analysts look at budget proposals to figure out how project funds can be used most effectively. Among other things, they have to look over budget proposals and requests for money, evaluate spending needs, and do cost-benefit analyses. The responsibility of offering solutions for more effectively spending money falls on those who work in budget analysis.
10. Loan Officers: $63,960 per year
Loan officers are tasked with advising and helping customers through the process of applying for loans or mortgages, as well as negotiating loan payments with customers. Their job is to look at the clients’ financial information to see if they qualify for a loan. Loan officers assess, authorize, and recommend loan applications for individuals and corporations.
11. Equities trader: $202,500 yearly
Equities traders make up the higher echelon of the best-paying jobs in major banks. In the financial sector, an equity trader often assists in the buying and sale of a company’s shares.
12. Portfolio manager: $118,760 yearly
As a portfolio manager, you decide how your customers’ money should go into investments. You’ll need to continuously analyze the markets, business profits, and stock prices to make sound decisions. A portfolio manager working in a bank has a high pay as well.
13. Financial Manager: $134,180 yearly
Financial managers are in charge of making sure an organization’s money is in good shape. They make financial reports, manage investments, and come up with plans for the organization’s long-term financial goals. Financial managers are responsible for the preparation of financial reports and the planning of both short-term and long-term financial strategies.
14. Chief Financial Officer (CFO): $139,501 per year
A chief financial officer (CFO) is a high-level executive who is in charge of running a company’s finances. The CFO’s job is to keep track of cash flow and plan for the company’s finances, as well as to look at the company’s financial strengths and weaknesses and suggest ways to fix them.
15. Bank relationship managers: $56,110 yearly
Relationship managers at banks often work with clients directly to identify the best products and services. To represent their bank and advise their clients, these specialists must be familiar with both the bank’s offers and the client’s specific financial situation.
16. Forex Traders: $150,000 yearly
Forex traders are undoubtedly up there on the reviews for best-paying jobs in major banks. Foreign exchange traders are professionals who make money by buying and selling foreign currencies. Big banks or trading organizations often employ forex traders.
17. Investment banking analyst: $80,412 per year
Financial sponsors are the attention of investment banking analysts. They often work in the infrastructure industry, which includes transportation, utilities, energy, and telecommunications. They frequently operate in a range of industries and with a variety of procedures, including sell-side and buy-side transactions.
18. Fixed income analyst: $76,000
Fixed-income analysts choose the investments that make up the fixed-income component of a portfolio by a fixed-income analyst. These professionals assess the value of the underlying securities, provide investment recommendations, and keep track of their progress.
What are the Skills Required for Banking Jobs?
To be considered for some of the best-paying jobs in major banks, there are certain required skills.
1. Communication skills
Communication skills are one of the most sought-after skill-set in all the best-paying jobs in major banks. In the workplace, communication is an important skill and it is no different in banking.
2. Customer service skill
The chances of succeeding in the banking industry without impeccable customer service skills are very low. Having core customer service skills entails having a blend of communication and problem-solving skills.
3. Analytical skills
You won’t get very far in banking and finance unless you have the analytical ability to spot trends, patterns, and decisive conclusions from the mountains of data.
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