{"id":105751,"date":"2022-04-04T00:52:09","date_gmt":"2022-04-04T07:52:09","guid":{"rendered":"https:\/\/careerkarma.com\/blog\/?p=105751"},"modified":"2022-04-04T00:52:11","modified_gmt":"2022-04-04T07:52:11","slug":"best-paying-jobs-in-major-banks","status":"publish","type":"post","link":"https:\/\/careerkarma.com\/blog\/best-paying-jobs-in-major-banks\/","title":{"rendered":"Highest-Paying Major Banks Careers"},"content":{"rendered":"\n

The financial sector is broad and there are varied job opportunities within it that pay very well. Currently, some of the highest-paying jobs in this sector can be found in major banks. If you\u2019re curious about major bank salaries, this article on the best-paying jobs in major banks will share everything you need to know. <\/p>\n\n\n\n

Even entry-level jobs in banking are typically high paying and there\u2019s plenty of opportunities to raise the earning potential from there as you grow in your career. This comprehensive guide below details what major banks jobs pay, the job outlook in the field, and various resources for finding major banking careers.  <\/p>\n\n\n\n

What Do Major Banks Jobs Pay?<\/h2>\n\n\n\n

The average annual wage paid by major banks is $67,330<\/a>, according to ZipRecruiter. Salaries at major banks vary greatly, with some entry-level positions earning $22,000 per year, and the 75% percentile earning $87,500 per year. This wide range alludes to lots of potential for growth and compensation for various experience levels, educational backgrounds, and skillset.<\/p>\n\n\n\n

Major Banks Job Outlook<\/h3>\n\n\n\n

Finance jobs are expected to see an 8 percent growth between 2020 and 2030<\/a>, according to the BLS Occupational Outlook Handbook. This number matches the average growth rate for most occupations. This growth means about 750,800 new jobs will be added to the field each year, meaning there\u2019s a strong demand and an opportunity to climb the corporate ladder for professionals already in the field. <\/p>\n\n\n\n

Major Banks Job Satisfaction<\/h3>\n\n\n\n

Financial institutions offer a wide range of benefits to their employees, including a higher annual salary than most jobs in other industries. Although a career in banking can involve working long hours, the results and benefits are often worth it. The high salaries and strong job outlook contribute to job stability and security, which also results in higher job satisfaction.<\/p>\n\n\n\n

Major Banks Salaries: Lucrative Major Banks Careers<\/h2>\n\n\n\n\n\n \n \n \n \n \n \n \n \n \n \n \n \n
Major Banks Careers<\/th>\n Major Banks Salaries<\/th>\n Job Outlook<\/th>\n Minimum Education <\/th>\n <\/tr>\n<\/thead>\n
Chief Financial Officer<\/td>\n $139,501<\/a><\/td>\n 8%<\/a><\/td>\n Bachelor\u2019s degree<\/td>\n <\/tr>\n
Financial Manager<\/td>\n $134,180<\/a><\/td>\n 17%*<\/a><\/td>\n Bachelor\u2019s degree<\/td>\n <\/tr>\n
Portfolio Manager<\/td>\n $89,957<\/a><\/td>\n 17%*<\/td>\n Bachelor\u2019s degree<\/td>\n <\/tr>\n
Financial Analyst<\/td>\n $83,660<\/a><\/td>\n 6%<\/a>**<\/td>\n Bachelor\u2019s degree<\/td>\n <\/tr>\n
Budget Analyst<\/td>\n $78,970<\/a><\/td>\n 5%<\/a><\/td>\n Bachelor\u2019s degree<\/td>\n <\/tr>\n
Accounting Manager<\/td>\n $75,216<\/a><\/td>\n 17%*<\/td>\n Bachelor\u2019s degree<\/td>\n <\/tr>\n
Accountants and Auditors<\/td>\n $73,560<\/a><\/td>\n 7%<\/a><\/td>\n Bachelor\u2019s degree<\/td>\n <\/tr>\n
Loan Officer<\/td>\n $63,960<\/a><\/td>\n 1%<\/a><\/td>\n Bachelor\u2019s degree<\/td>\n <\/tr>\n
Branch Manager<\/td>\n $60,958<\/a><\/td>\n 17%*<\/td>\n Bachelor\u2019s degree<\/td>\n <\/tr>\n
Credit Analyst<\/td>\n $53,778<\/a><\/td>\n 6%**<\/td>\n Bachelor\u2019s degree<\/td>\n <\/tr>\n<\/tbody>\n<\/table>\n\n\n\n

*This statistic is grouped on BLS under Financial Managers<\/em>
<\/em>**This statistic is grouped on BLS under Financial Analysts<\/em><\/p>\n\n\n\n

<\/p>\n\n\n\n

Best-Paying Jobs in Major Banks: In Detail<\/h2>\n\n\n\n

Chief Financial Officer<\/h3>\n\n\n\n

Average Salary: <\/strong>$139,501<\/p>\n\n\n\n

A chief financial officer<\/a> is responsible for a bank’s financial operations, financial planning, and growth. Specifically, their job focuses on evaluating assets and liabilities, and managing cash flow, while leading a team of analysts. <\/p>\n\n\n\n

These professionals have extensive knowledge of financial markets, market trends, and the stock market, among other knowledge necessary to perform well in this position. It requires at least a Bachelor\u2019s Degree in Business or a related field.<\/p>\n\n\n\n

Financial Manager<\/h3>\n\n\n\n

Average Salary: <\/strong>$134,180<\/p>\n\n\n\n

Financial managers prepare financial reports and plan short- and long-term financial policies. In addition, they make investment decisions to expand and maximize profits. These managers supervise financial analysts and make important financial decisions for the company.<\/p>\n\n\n\n

A financial manager usually must have five years or more experience in the finance sector to obtain this position. A graduate degree in economics, business, or a related field is often required.<\/p>\n\n\n\n

Portfolio Manager<\/h3>\n\n\n\n

Average Salary: <\/strong>$89,957<\/p>\n\n\n\n

Portfolio managers determine how the bank’s and clients’ money should be invested. To do this, they must study market prices, stocks, and earnings, and have a keen knowledge of accounting principles. Those who work for investment banks are also responsible for providing investment portfolio management services.<\/p>\n\n\n\n

Financial Analyst<\/h3>\n\n\n\n

Average Salary: <\/strong>$83,660<\/p>\n\n\n\n

A financial analyst evaluates the financial status of banks by studying the company’s historical financial data. They are responsible for examining market trends, financial risk, and creating forecasts for investment opportunities. They also make recommendations for capital structure. A financial analyst can work in financial companies<\/a>, consulting firms, or accounting firms. <\/p>\n\n\n\n

Budget Analyst<\/h3>\n\n\n\n

Average Salary: <\/strong>$78,970<\/p>\n\n\n\n

Budget analysts are responsible for presenting options for spending money more efficiently. They conduct studies on how money is spent to make recommendations in the company’s annual reports. These professionals provide improved plans to meet the necessary expenses. In addition, they must be knowledgeable in corporate finance.<\/p>\n\n\n\n

Accounting Manager<\/h3>\n\n\n\n

Average Salary: <\/strong>$75,216<\/p>\n\n\n\n

Accounting managers are responsible for general accounting and are also in charge of the general ledger accounts. These professionals must have a degree in finance since they work with the company’s financial statements. They must also have knowledge of investment banking, financial records, and banking transactions.<\/p>\n\n\n\n

Accountants and Auditors<\/h3>\n\n\n\n

Average Salary: <\/strong>$73,560<\/p>\n\n\n\n

Accountants and auditors perform similar tasks in banks. They are responsible for identifying potential losses and providing recommendations for long-term profitability. An auditor can become a certified internal auditor by passing an exam. These professionals must have a degree in accounting<\/a> or a related career in finance to work with accounting records.<\/p>\n\n\n\n

Loan Officer<\/h3>\n\n\n\n

Average Salary: <\/strong>$63,960<\/p>\n\n\n\n

Loan officers are responsible for advising and guiding clients with their loan applications or mortgage applications, and discussing loan payments. These professionals work in banks, savings institutions, and mortgage companies and are responsible for evaluating the financial information of customers to offer a loan.<\/p>\n\n\n\n

Branch Manager<\/h3>\n\n\n\n

Average Salary: <\/strong>$60,958<\/p>\n\n\n\n

A branch manager supervises all financial processes that take place in a bank branch, and manages the team including hiring new employees. They are also in charge of marketing initiatives within the branch\u2019s community, to offer its financial products to achieve its growth and development goals. <\/p>\n\n\n\n

These professionals must possess knowledge in essential skills such as mathematics, statistics, accounting skills. Branch managers who work in major retail banks will also typically have at least three years of experience in the field.<\/p>\n\n\n\n

Credit Analyst<\/h3>\n\n\n\n

Average Salary: <\/strong>$53,778<\/p>\n\n\n\n

Credit analysts are in charge of studying the granting of credit to companies or individuals through the review of financial information, such as the credit profile of clients. These professionals are responsible for preparing credit reports and meeting with clients to make decisions. Part of the job of a credit analyst role is to offer retail banking services.<\/p>\n\n\n\n

Resources to Find the Best-Paying Jobs in Major Banks<\/h2>\n\n\n\n