Best Paying Jobs In Major Banks (2022 Updated)

Last Updated on August 29, 2022 by

Banking jobs have been in high demand for several years. They are also the most lucrative jobs since employees have to deal with people’s money.

Besides, banking jobs are highly competitive regardless of the job level (entry, mid-level, or senior). Most jobs also require candidates to appear for bank exams and pursue relevant studies. Yet, the industry has remained one of the most preferred industries for those seeking opportunities in the finance industry.

If you are interested in working at major banks, read this article to learn about the best-paying jobs in major banks.

Do Banking Jobs Pay Well?

Yes, banking jobs are one of the highest paying jobs. They give you high pay and a proper work-life balance to ensure work satisfaction. The pay range varies depending on the job level and type. But it typically ranges from $100,000 to $300,000, and this pay is higher than most jobs.

Additionally, the salary varies depending on the bank. For instance, a major bank like a federal reserve bank will pay higher than private banks.

Best Paying Jobs In Major Banks

Jobs at major banks are not limited to a bank manager or accountant positions. Major banks recruit candidates for various positions and offer competitive salaries.

Following are some of the best-paying jobs in major banks in 2022.

Financial Analysts

A financial analyst analyzes the finance for clients within and outside the company. Financial analysts are among major banks’ best-paying jobs, with an average salary of $80,000 per year.

You are responsible for financial forecasting, metrics tracking, and reporting as a financial analyst. Financial analysts analyze the financial reports to help companies make investment decisions.

Most junior financial analysts gather information and analyze financial records while senior financial analysts develop theses and talk to company management to make investment decisions. They also assist in financial modeling.

A bachelor’s degree in finance or maths is required to become a financial analyst. You can also work as a financial analyst after pursuing a master’s degree in finance or an MBA.

Budget Analyst

Budget analyst jobs are the best paying jobs in major banks for those seeking entry-level positions. It is mandatory to have budget analysts in banks or financial institutions.

A budget analyst is responsible for creating strategies to spend the allotted budget in the best possible way. They create budget reports regularly and track expenditures. Budget analysts work closely with project managers to prepare the organization’s budget and review plans.

They study the previous and current budget plans and interpret data for the people to understand it easily.

Budget analyst jobs are popular in the banking industry and can be pursued after completing a relevant course.

Equity Analyst

An equity analyst job is amongst the best paying jobs in major banks in the banking sector. It is also one of the toughest jobs to get in a major bank.

Equity analysts are responsible for studying and analyzing companies’ financial reports and balance sheets. They also gather and assess data on the stock market, bonds, etc., and create financial models to assist in making informed investment decisions.

They predict future profitability based on the company’s financial records.

Chief Technology Officer (CTO)

The use of technology in various industries has increased, and the banking sector is no exception. Every major bank relies on technology for operations and daily tasks. Consequently, jobs related to technology are increasing in banks.

Chief Technology Officer jobs are amongst the highest paying jobs in major banks. A CTO is responsible for integrating technology with banking products and services to ensure the smooth functioning of banks.

CTOs also research the institution’s most effective content management systems and monitor IT budgets.

Investment Banker

With an average salary of $100000 per year, investment banker jobs are one of the best-paying jobs in major banks. It is a high-profile financial sector job involving various tasks like looking for investors and convincing them to purchase stocks.

Investment bankers provide investment advice and help the bank raise funds through securities like bonds, stocks, etc. They also set the initial price of a stock when the company makes the Initial Public Offering (IPO).

Most students aim to become investment bankers due to their high pay. However, you need a bachelor’s degree in finance or economics and at least five years of work experience to become an investment banker.

Credit Analyst

Credit analysts are professionals that analyze the creditworthiness of securities, individuals, and organizations. They go through the profiles of borrowers to determine whether they will repay their loans or not.

In simple terms, a credit analyst checks the borrower’s credibility to identify the risk level and underlying securities associated with the loan.

A credit analyst gathers and analyzes the financial data linked with the lending and credit products. This data is then used to recommend approval or denial of the credit. It is also used for negotiating loan payments by loan officers.

Credit analysts are one of the best-paying jobs in major banks and require an individual to possess a bachelor’s degree with a background in finance, economics, accounting, or maths.

Personal Financial Advisor

A personal financial advisor is a person who helps businesses and individuals meet their long and short-term investment goals. They communicate with people and try to convince them to use financial products that suit their banking needs.

As a personal financial advisor, you will be responsible for identifying and understanding people’s requirements like retirement plans, college fees, raising money for businesses, etc., and suggest products to meet their requirements.

Some people prefer investing directly, but personal financial advisors are in high demand. You can become a personal financial advisor with a bachelor’s degree in finance and a few years of work experience.

Branch Manager

Branch managers are one of the highest and best-paying jobs in major banks. Every bank requires a branch manager to ensure the bank’s or trust corporation’s smooth functioning. However, a good branch manager possesses excellent management and communication skills.

Branch managers have to manage the bank’s employees and daily financial operations. Bank managers are responsible for identifying and addressing areas of improvement in the branch and ensuring customer satisfaction.

They also have to train and coach the banking personnel, review financial records, and assist in financial planning.

Relationship Manager

Relationship manager jobs are amongst the highest paying bank jobs in major banks. The primary role of a relationship manager is to ensure a positive and good relationship between the bank and customers. They assist customers in deciding which product suits their banking needs the best.

Bank relationship managers must have core customer service skills since they are in direct contact with current and prospective customers. They also require excellent communication, analytical, and problem-solving skills.

While it’s not necessary to have a bachelor’s degree to become a relationship manager, you still need to have complete knowledge of banking products and services.

Portfolio Manager

Portfolio managers are the best paying jobs in major banks, with an average salary of above $100000 per year. A portfolio manager decides how to invest the customer’s and bank’s money to maximize profits.

Portfolio managers conduct market research and manage the investment portfolio to gain returns on investment. They study the market trends, stock prices, company valuations, and other financial information to make informed investment decisions.

A bank hires a portfolio manager to manage its portfolio and help customers prepare their portfolios.

Chief Financial Officer (CFO)

A chief financial officer is a high-level executive in charge of handling the bank’s finances. Chief financial officer jobs have gained a huge demand in the financial industry.

Most banks hire a CFO to take care of the bank’s finances and manage the analysts, including investment analysts, investment banking analysts, financial analysts, etc.

CFOs are responsible for assessing the bank assets and liabilities, managing cash flow, dept, etc. They analyze the financial information to plan the finances accordingly and ensure future growth.

Chief Compliance Officer (CCO)

Chief Compliance Officer jobs are among the most popular jobs in the banking industry. A CCO is one of the most important members of a major bank since they oversee compliances within the organization.

The major responsibilities of a CCO include providing guidance and training, interacting with regulators about compliance issues, presenting compliance reports to the board, etc.

They also design, implement, and monitor processes through which the company complies with applicable laws and regulations.

Chief Risk Officer (CRO)

A Chief Risk Officer analyzes the bank’s internal and external risks. They check procedures and events affecting the bank’s profitability and financial solvency. The CRO analyzes financial statements and data and creates policies to address threats.

CRO jobs are highly popular in the banking industry for their excellent pay. You can become a chief risk officer after pursuing a bachelor’s degree in administration and work experience of over ten years.

Internal Auditor

Internal Auditor jobs involve financial analysis and assessment of bank accounts. Internal auditors must assess the finances and identify how effectively the bank operates. They also provide recommendations for streamlining the bank operations to generate more profits.

It is one of the highest-paying bank jobs, with an average salary of $65,000. To become an internal auditor, you must have a bachelor’s degree in finance, business, or accounting.

Resources to Find the Best-Paying Jobs in Major Banks

You can look for jobs in a major bank using offline or online resources. You can find your dream banking career through newspaper advertisements or referrals from friends or relatives.

Alternatively, you can search for banking industry jobs or high paying life insurance jobs on online job portals. However, preparing yourself with the skills and qualifications required for banking positions before applying for opportunities is best.

Some of the best sites to use for getting a bank job include ZipRecruiter, Indeed, Naukri, Monster, etc. You can search for bank jobs on these sites using keywords like asset manager, loan officer, equity analyst, equity trader, investment banking analysts, loan officers, branch manager, financial manager, financial managers, fixed income analyst, etc.

Additionally, you can check out the following resources for a job in the banking or investment banking sector:

  • eFinancialCareers
  • FinancialJobBank
  • Association for Financial Professionals
  • CareerBank
  • iHireBanking


Bank Jobs That Pay Well Without a Degree

Several banking opportunities are available for graduates. But if you don’t have a degree yet, you can still apply for a job in the banking industry. Some of the well-paying bank jobs include:

  • Bank teller
  • Financial examiner
  • Loan Officer
  • Accounting Assistant
  • Personal banker
  • Bill collector
  • Receptionist

Highest Paying Banks in the US

The top-paying banks in the US include Gold Sach Bank, Bank of America, American Express Amex, Capital One Financial Corporation, Morgan Stanley, Citigroup, JPMorgan Chase, etc.

Conclusion: Best Paying Jobs In Major Banks?

Those are some of the best-paying jobs in major banks. As you see, most entry and senior-level jobs at a financial services organization require a bachelor’s degree. So, you need to pursue a relevant course or start your career by working for retail banking services and move further as you gain experience.

For instance, if you don’t have a degree, you can work as a bank teller and reach an upper management position as you gain experience. That said, if you are interested in the banking industry, get the required skills and apply for your ideal position.

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