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Top 7 Best Paying Jobs in Major Banks
There are many different jobs in a major bank. You may be wondering what it takes to land the best paying one. Read on to learn more about the job duties and requirements for each.
The highest paying jobs in major banks have several responsibilities and differ in salary.
Here are the top 7 in terms of pay:
Job duties
A career in banking is an excellent choice for anyone looking for a challenging yet lucrative career. There are many different types of jobs within retail and commercial banking.
A financial manager’s duties vary, but they often include developing financial forecasts and business activity reports. In addition, financial managers supervise budget analysts and ensure legal requirements are followed.
Additionally, financial managers analyze trends and market conditions to maximize profit and minimize risks.
As one of the best paying jobs in the financial industry, a finance manager oversees all financial aspects of a bank’s operations.
These positions usually require extensive knowledge of financial management, including risk management, planning, bookkeeping, and financial reporting.
A loan officer’s duties include evaluating the financial information of customers and advising them on loan applications.
Some organizations require that a finance manager holds the Certified Public Account (CPA) designation, as well as seven years of experience working in a finance-related field.
Salary
The highest-paying jobs in major banks include banking executives. According to Go Banking Rates, the average annual salary of a bank exec is $134,180.
The salaries for these jobs are likely to rise, as there is high demand for these positions through 2030. For example, a vice president at Goldman Sachs earns $840,000 a year.
In addition, these executives have the potential to become bank presidents.
Besides senior executives, the best-paying jobs in banking can also be found in various industries.
For instance, a chief financial officer can work in investment banking, as a mutual fund manager, or as a financial planner. While these roles may not seem glamorous, they can offer ample career development and a good work-life balance.
A chief financial officer can also work in investment banking, mutual funds, or a bank’s risk management division.
Education required
The top seven best-paying jobs in major banks do not necessarily require years of postsecondary education and experience. Many entry-level jobs require apprenticeships or paid on-the-job training.
To make your job search easier, we’ve compiled data from the Bureau of Labor Statistics to determine which entry-level positions are the most rewarding.
Read on to learn about each job’s salary requirements, education requirement, and potential growth.
Many of the highest-paying jobs in banking are in management and finance. As a general rule, a bachelor’s degree in finance, accounting, or economics is typically required.
These fields are usually highly technical and require extensive knowledge of math, statistics, and computer programs.
The salaries for these jobs are often higher than the average for similar professions. If you have a degree in one of these fields, you will likely have no trouble finding a job in a major bank
Requirements
One of the highest paying jobs in the financial sector is a finance manager. In this role, you would oversee the financial aspects of the company, including planning, budgeting, and bookkeeping.
Another top job in the financial sector is accounts manager, which oversees the general accounting function.
Some organizations also require that you have a Certified Public Account (CPA) designation and seven years of accounting experience.
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