Top 7 Best Paying Jobs in Major Banks
There are a number of different banking careers. While some jobs pay more than others, most of them require some knowledge of regulatory compliance and banking business practices. Besides the knowledge you gain on the job, you may also have to take a certification course. Listed below are the Top 7 Best Paying Jobs in Major Banks.
Salary
Among the highest-paid jobs at major banks, financial managers are on the top of the list. They oversee the organization’s money and investments, devise financial strategies, and employ new employees.
These managers also supervise financial analysts and make crucial decisions regarding a company’s financial health. Their salary range varies, and they are paid more than their counterparts in other industries. But even if you don’t have a bachelor’s degree, a major bank has plenty of opportunities for you.
The most lucrative jobs in banks are usually in the managerial level, which require years of experience and proven managerial skills.
American Express, Capital One Financial Corporation, JP Morgan Chase, Morgan Stanley, and TD Bank are among the top banks in the US in terms of salary.
Entry-level bank jobs typically require a Bachelor’s degree, and these positions require knowledge of banking business practices and regulatory compliance. They can earn up to $73,560 per year.
Requirements
The Financial Industry offers many job opportunities, and some of the best paying ones are in major banks.
The requirements for entry-level jobs in banking are relatively low, but there are opportunities for upward mobility.
The top seven best paying jobs in banking are based in the retail sector, and most of them require a high school diploma or equivalent. Below is a list of essential skills needed to land one of these positions.
Bonuses
In the United States, bonuses at the top 7 best paying jobs at major banks ranged from 76 percent to 226% of juniors’ base salary in 2015.
Goldman Sachs, for example, topped all other US banks in payouts. Juniors at Goldman Sachs made between $76,000 and $226,000 in year-end bonuses, compared to a median bonus of 38% at rival firms. But European banks lagged behind the U.S. banks.
Credit Suisse and Deutsche Bank offered the highest bonuses to juniors, while UBS juniors earned the lowest bonuses. While Goldman Sachs declined to comment, a PowerPoint presentation outlined the culture of the firm, citing brutal 105-hour workweeks and a toxic work environment.
Assuming you have a strong performance history, you’ll probably earn the highest bonuses amongst the top seven best paying jobs at major banks.
Usually, associate compensation increases by about 25%. As you advance up the ranks, your bonus will go up by another 50% to 77%. As you move up the ladder, your bonus percentage will increase to 20-30% stock, with a three-year vesting period.
Job description
The financial industry is a vast field with many different job roles. Jobs in major banks are among the highest paying, and even entry-level positions are often very high paying.
The best part is that there are many opportunities for growth, including advancement and a variety of career paths. However, you need to know a few things to get a job in this sector. Read on to learn more about some of the top paying jobs in banks.
A mortgage advisor’s duties include reviewing and assessing bank accounts, ensuring financial effectiveness, and providing excellent customer service. They also analyze the business of different banks to identify ways to improve profits.
In order to succeed in this job, you must have a bachelor’s degree. The average annual pay for an internal auditor is $65000, which is higher than the average wage for an entry-level position.
Conclusion
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