Alongside Nursing, Banking is considered one of the highest-paying jobs. However, multiple best-paying jobs in major banks pay you really well.
I have spent hours trying to gather the best-paying jobs in the banks and jotted down the top 13 jobs. This list is curated by considering the position’s average salary, the qualification criteria, and how easily you can do the task.
So, let’s explore the highest-paying bank jobs below!
What Are the Highest Paying Bank Jobs – In A Nutshell (2024)
Here is the list of the best paying bank jobs in detail, including job roles, educational requirements, and average salary.
| Sr. No. | Job Role | Average Pay | Requirements |
|---|---|---|---|
| 1 | Bank Manager | $70,510 | Bachelor’s degree in Accounting, Finance, Business Administration, or Economics. |
| 2 | Financial Analyst | $53K to $110K | Bachelor’s degree in Accounting/ Finance. |
| 3 | Asset Manager | $76K to $180K | Bachelor’s degree in Accounting, Finance, Business Administration, Economics, or a related field (MBA preferred). |
| 4 | Budget Analyst | $50k to $79K | Bachelor’s degree in Social Science, Business, Psychology, or Mathematics. |
| 5 | Economic Analyst | $95,206 | Bachelor’s degree in Statistics, Economics, or Mathematics. It is best if you have a Master’s degree in either of the mentioned subjects. |
| 6 | Portfolio Manager | $127,980 | Master’s degrees in business administration, economics, finance, or another numbers-related field. |
| 7 | Loan Officer | $183,276 | Bachelor’s degree and a few years of experience in the respective field. |
| 8 | Corporate Finance Manager | $130,674 | Bachelor’s degree in Finance, Business, or accounting. Plus, I have Corporate Banking experience. |
| 9 | Investment Banker | $145,028 | Bachelor’s degree. Joint majors are business, finance, economics, and accounting. |
| 10 | Chief Financial Officer | $230K to $420K | Bachelor’s degree in economics, finance, or any related subject. |
Now that we have checked the banking jobs and their pay, let’s explore each of them in detail so you can understand the job role.
1. Bank Manager
| Average Salary | $70,510 |
| Requirement | Bachelor’s degree in Accounting, Finance, Business Administration, or Economics. |
A bank manager is a banking employee who is in charge of a branch’s day-to-day operations. The bank manager’s tasks include managing resources and people, setting and achieving sales targets, providing customer service, and increasing the location’s revenue.
Branch managers also oversee the performance of other employees in their locations. Employers are looking for managers with expertise, a track record of accomplishment, and leadership abilities.
Furthermore, branch managers are in charge of distributing assignments to skilled personnel and monitoring their performance. In essence, the branch manager is directly responsible for the branch’s success or failure.
2. Financial Analyst
| Average Salary | $53K to $110K |
| Requirement | Bachelor’s degree in Accounting/ Finance. |
A financial analyst evaluates financial data, including past and present financial statements, trends, and financial information of individuals and organizations. His primary role is to research and interpret financial data to mitigate future financial risk. He also provides assistance and insights for mergers and acquisitions.
3. Asset Managers
| Average Salary | $76K to $180K |
| Requirement | Bachelor’s degree in Accounting, Finance, Business Administration, Economics, or a related field (MBA preferred). |
Asset managers are in charge of overseeing and managing a company’s assets, which may include property, money, stocks, shares, bonds, commodities, equities, and other financial items.
Asset management benefits high-net-worth individuals, government institutions, insurance companies, charities, sovereign wealth funds, pension fund organizations, and other small and large businesses.
Additionally, their job is to figure out which investments to make and which to avoid to achieve the client’s financial goals while staying within the client’s risk tolerance.
Planning, procuring, deploying, managing, and disposing of a client’s assets are all part of asset management. Individuals and institutions use asset managers to help them achieve their financial goals.
4. Budget Analyst
| Average Salary | $50k to $79K |
| Requirement | Bachelor’s degree in Social Science, Business, Psychology, or Mathematics. |
A budget analyst is one of the highest-paying bank jobs in the current economic scenario. By developing and implementing budgets, the budget analyst helps organizations and businesses organize and distribute their financial resources.
They track expenditures to ensure they stay within budget and estimate future expenditures. Moreover, budget analysts compile budget reports and monitor spending, helping governments and private companies arrange their finances.
Lastly, budget analysts produce budget reports regularly. They help governments and private companies manage their finances, prepare budget reports, and track business expenses.
5. Economic Analyst
| Average Salary | $95,206 |
| Requirement | Bachelor’s degree in Statistics, Economics, or Mathematics. It is best if you have a Master’s degree in either one of the mentioned subjects. |
Economic analysts study important business and commerce developments and forecast their implications for a firm or sector. They frequently work for commercial businesses, financial institutions, and state and federal governments.
Depending on their industry, they may examine data such as energy costs, taxes, healthcare costs, inflation, or employment levels.
6. Portfolio Manager
| Average Salary | $127,980 |
| Requirement | Master’s degrees in business administration, economics, finance, or another numbers-related field. |
A portfolio manager is a person or group in charge of investing a fund’s assets, implementing the fund’s investment plans, and overseeing day-to-day portfolio management. Portfolio managers might choose to be active or passive in their management.
In addition, their ability to generate ideas and use exceptional research abilities are just two aspects that impact their success.
Furthermore, a portfolio manager has much power over a fund, whether it’s a closed or open mutual fund, a hedge fund, a venture capital fund, or an ETF.
7. Loan Officer
| Average Salary | $183,276 |
| Requirement | Bachelor’s degree and a few years of experience in the respective field. |
A loan officer is professionally responsible for disbursing loans and mortgages to people. He evaluates the creditworthiness of its applicants, verifies the financial information, and whether the client is eligible for loans.
Additionally, the Loan Officer also explains the terms and conditions of the loan and provides guidance in managing and organizing funds for its client.
However, they must know banking regulations and have strong communication and customer service skills to handle clients efficiently.
8. Corporate Finance Manager
| Average Salary | $130,674 |
| Requirement | Bachelor’s degree in Finance, Business, or accounting. Plus, Corporate Banking experience. |
A corporate finance manager is among the best-paying jobs in commercial banks. The finance manager assists the finance department in identifying and producing new revenue streams, acting on prospective possibilities, negotiating deals, and leading pitches, among other things. In the finance department, a finance manager manages a variety of transactional and advisory tasks using an analytical approach and logical thinking.
The Corporate Finance Manager is in charge of the company’s financial direction, strategic financial planning, and reporting to stakeholders. They are also in charge of all aspects of a company’s significant transactions, including due diligence.
9. Investment Banker
| Average Salary | $145,028 |
| Requirement | Bachelor’s degree. Common majors are business, finance, economics, and accounting. |
Investment bankers are financial services sector experts with strong analytical and convincing communication skills that assist institutional clients in capital raising and mergers and acquisitions. They are crucial actors in the financial growth and development of a corporation, organization, or other corporate entity.
In addition, they work for an investment banking division of an organization.
Investment bankers provide corporate finance services to a wide range of clients, including startups, existing businesses, and, in some situations, governments.
10. Chief Financial Officer
| Average Salary | $230K to $420K |
| Requirement | Bachelor’s degree in economics, finance, or any related subject. |
The Chief Financial Official is a senior-level management officer. The CFO plays a crucial role in managing and overseeing the banking operations, developing financial strategies, and providing guidance to the bank executives. He also ensures the bank complies with the regulations and meets the organizational goal and fiscal responsibility.
11. Fixed Income Analyst
| Average Salary | $59,047 to $115,503 |
| Requirement | Majors in finance, physics, math, and engineering. |
As the name suggests, the Fixed-Income Analyst’s primary task is to analyze and select the Portfolio’s fixed-income component. These assets are generally included in Bond Funds and Bonds that people like us pay daily.
They also review their clients’ investment performance after being selected by the Portfolios. All they need to do is monitor what’s happening and provide valid recommendations.
12. Hedge Fund Analyst
| Average Salary | $84,117 to $118,400 |
| Requirement | Majors in finance, physics, math, and engineering. |
The job description generally involves studying individual stocks, microeconomic trends, and macro sectors. After that, they prepare a detailed investment plan to acquire the capital.
Additionally, they have to go through all this research and present the possible investment opportunities to their portfolio managers, thus recommending some of these investments.
Lastly, the hedge fund analyst has to gauge all the risks related to the strategies and marketing of these investments and offer thorough guidance.
13. Equity Trader
| Average Salary | $83K to $140K |
| Requirement | Bachelor’s degree in finance, economics, or some related field |
Mostly, the Equity Trader has to buy and sell commodities, stocks, options, or derivatives in place of their clients or bank. They further monitor the Market Movement and algorithms and keep up with the social, political, or economic trends.
The equity Trader needs to study industry-specific, global, or social trends to enhance business performance or analyze assets better.
Why Should You Consider Applying For A Bank Job?
Considering how many jobs are available in major banks for someone with a business degree, the additional advantages that come with it are listed below :
- A finance job exposes you to various aspects of social and economic importance.
- A career in banking is not limited to a specific job; there is a diverse range of jobs.
- Finance workers are paid a relatively excellent wage because their services are among the most necessary in the market.
- Employees might use their negotiating power to ask for better pay or a better working environment because of the high demand for their abilities.
- With new, interesting challenges regularly and new tools to investigate solutions, this field will never become dull.
- Possibility to get best-paying jobs in commercial banks.
Financial roles offer rewarding pay, but they require a variety of skills and the capability to work under difficult conditions, so it’s critical to choose one that corresponds with your long-term goals and ambitions. Therefore, we have made a comprehensive list of the top 7 best-paying jobs you can get at a top bank to help you make a decision.
Note: If you are searching for a high-paying job apart from the banking sector, then you should try to become an affiliate marketer since the average income of affiliate marketers is $87,605.
Explore more high-paying jobs:
Conclusion: Financial Analyst is the Best Paying Job In Major Banks & Pays nearly $93.5K.
The Bank Manager is the most sorted paying job, considering its 65.5K average paycheck. The qualification criteria are also manageable: Bachelor’s degree in Management, Statistics, or Mathematics.
However, if you’re unsure about pursuing this position, I have two more recommendations:
- Financial Analyst: Two Years Experience in Banking. (Bachelors and Masters in Finance.)
- Asset Managers: Bachelor’s in Finance, which is even better if you have cleared CFA.
The average pay of both positions is nearly $93.5K and $75.8K, respectively.
FAQs
Financial Analyst and Investment Banker are the best career options in the field of Finance.
Yes, definitely. Working in a bank has various perks, like job security, a highly competitive salary, and great networking. Moreover, if you are ambitious, you can have excellent career advancement at a very early career stage.
Bank of America, Goldman Sachs, and American Express are the banks that provide good packages.
You can opt for a bachelor’s or master’s in Finance, Business, or Information Technology. A master’s degree is recommended for the best-paying jobs in the Banking sector.
