Best Paying Jobs in Major Banks

Updated on February 5, 2024

The banking industry offers a range of lucrative career opportunities. Here are some of the top-paying jobs in major banks as of 2024:

1. Investment Banker

  • Average Salary: $162,715
  • Job Description: Investment bankers assist companies in raising capital by issuing and selling securities and advising on investment strategies.
  • Responsibilities: Managing client investment portfolios, overseeing securities transactions.
  • Education: Bachelor’s degree or MBA, with extensive experience in the financial industry.

2. Financial Manager

  • Average Salary: $131,710
  • Job Description: Develops strategies for assets, investments, and capital structures.
  • Responsibilities: Analyzing financial performance, budgeting, and asset management.
  • Education: Requires a bachelor’s degree in finance, accounting, or related fields.

3. Portfolio Manager

  • Average Salary: $131,710
  • Job Description: Manages investment portfolios to achieve the best returns for clients.
  • Responsibilities: Market tracking, investment plan creation, performance analysis.
  • Education: Typically a bachelor’s degree in finance or related fields.

4. Credit Analyst

  • Average Salary: $88,030
  • Job Description: Assesses creditworthiness and risks associated with lending.
  • Responsibilities: Analyzing financial data, preparing reports, making credit recommendations.
  • Education: Bachelor’s degree in finance, economics, or related fields.

5. Actuary

  • Average Salary: $125,300
  • Job Description: Actuaries use statistical methods to assess risk in the finance and insurance sectors.
  • Responsibilities: Calculating risks and premiums, designing insurance policies, risk management.
  • Education: Bachelor’s degree and passing exams from actuarial societies.

6. Branch Manager

  • Average Salary: $59,453
  • Job Description: Overseeing the operations of a banking branch.
  • Responsibilities: Supervising staff, managing daily operations, developing customer relationships.
  • Education: Typically a bachelor’s degree in business administration or finance.

7. Personal Financial Advisor

  • Average Salary: $119,960
  • Job Description: Advises clients on investments, estate planning, and retirement planning.
  • Responsibilities: Investment strategy, financial planning, client relationship management.
  • Education: Bachelor’s degree and often certifications like CFP.

8. Financial Systems Director

  • Average Salary: $118,427
  • Job Description: Oversees the financial information systems of an organization.
  • Responsibilities: System design and maintenance, staff management, ensuring system efficiency.
  • Education: Bachelor’s degree in computer science, IT, or related field.

9. Compliance Officer

  • Average Salary: $75,810
  • Job Description: Ensures that an organization complies with regulatory requirements.
  • Responsibilities: Developing policies, ensuring legal compliance, auditing procedures.
  • Education: Bachelor’s degree in business administration, law, or related fields.

10. Loan Officer

  • Average Salary: $80,570
  • Job Description: Assists individuals and businesses in obtaining loans.
  • Responsibilities: Evaluating loan applications, recommending approvals, negotiating terms.
  • Education: Bachelor’s degree in finance or related fields.

Final Thoughts

Careers in major banks offer diverse opportunities, from investment banking to risk management. These roles not only provide competitive salaries but also play crucial roles in the financial stability and growth of the economy. With the right education and skill set, a career in banking can be both financially rewarding and professionally fulfilling.

Other Jobs in Finance, Banking, and Insurance

Sources

For more detailed information on these roles and their requirements, you can refer to the following sources:

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Frank Gogol

I’m a firm believer that information is the key to financial freedom. On the Stilt Blog, I write about the complex topics — like finance, immigration, and technology — to help immigrants make the most of their lives in the U.S. Our content and brand have been featured in Forbes, TechCrunch, VentureBeat, and more.