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The banking sector has performed extremely well in the recent past decades as a result of which the demand for the best paying jobs in major banks is on a rise. Although this is the sector that is the most sensitive to business fluctuations, this however hasn’t been the cause for people not seeking to join some of the best paying jobs in the banking sector.
Posts in the banking sector vary from that of a manager to that of a clerk with corresponding duties and salary incentives. People get attracted towards these best paying jobs in major banks because of the long term growth prospects and opportunity.
Top 10 Best Paying Jobs in Major Banks
These are some of the best paying jobs in the banking sector for the applicants to choose from as per their ability and qualification:
1) Investment Banker
- Investment bankers are among the best paying jobs in the banking industry.
- They typically work for major banks and financial institutions, where they provide investment advice and assist businesses in raising capital.
- Investment bankers typically hold a four-year degree in business or economics, as well as an MBA.
- They must be able to comprehend complex financial information and make sound decisions under duress.
- As a new hire, you can expect to earn more than $100,000 right out of college.
2) Commercial Banker
- A commercial banker, also known as a business or institutional banker, is a financial services professional who assists clients with their financial needs.
- Some basic duties of a commercial banker include:
- Connecting clients with lenders
- Developing, negotiating and closing commercial loans
- Managing corporate, government or institutional accounts
- Marketing their bank to attract new clients
- Offering financial advice tailored to a client’s specific needs
- The salary for a commercial banker as the best paying job falls in the range $82,417 and $110,714.
3) Financial Analyst
- Major banks have a high demand for financial analysts. They use their maths and economics skills to assist banks in making sound investments and remaining profitable.
- The following are all aspects of a financial analyst’s duties:
- Perform financial forecasting, reporting, and operational metrics tracking
- Analyse financial data and create financial models for decision support
- Report on financial performance and prepare for regular leadership reviews
- Analyse past results, perform variance analysis, identify trends, and make recommendations for improvements.
Also read: Best Paying Jobs in Healthcare
4) Asset Manager
- Asset managers are responsible for overseeing the investments of banks and other financial institutions and ranks among the top three positions as the best paying job in major banks.
- They typically have a deep understanding of the financial markets and use this knowledge to make investment decisions that will generate profits for their clients.
- The salary for an asset manager ranges in the range of typically between $71,180 and $137,042.
5) Analyst
- Financial analysts are among the best paying jobs in the banking sector. They use their maths and economics skills to assist banks in making sound investments and remaining profitable.
- The median annual salary for financial analysts is $85K+, making it one of the highest best paying jobs in the major banks market.
- Those looking for a challenging and rewarding career in finance should consider becoming a analyst.
6) Wealth Manager
- A wealth manager is a type of financial advisor who specialises in issues affecting extremely wealthy individuals.
- A wealth manager’s investment minimum is typically much higher than that of a regular financial advisor. Wealth managers typically provide more services than financial advisors.
- The median annual salary for this profession is over $100,000.
7) Portfolio Manager
- A portfolio manager is the individual in charge of investing a fund’s assets, implementing the fund’s investment strategies, and overseeing day-to-day portfolio management.
- The average salary for a portfolio manager’s best paying job in a major bank is near $200K per year.
- While the hours can be long and the work can be stressful, it is clear that a career in portfolio management can be very financially rewarding.
8) Product Manager
- Product managers typically have a business or marketing background. As banks become more complex, they are looking for product managers to assist them in developing new products and services.
- A recent survey found that the average salary for a product manager at a major bank was $120,000 per year.
- They are solely responsible for increasing sales volumes through tasks such as concept design, market research, and setting sales goals for the service or product.
9) Research Analyst
- A research analyst is one of the best paying jobs in major banks. They are responsible for providing analysis and recommendations to the bank’s clients, as well as conducting research on potential investments.
- The average salary for a research analyst is $85,000 per year.
- A bachelor’s degree in business or economics is required, and many analysts also have a master’s degree.
10) Banking Associate
- A Banking Associate is in charge of providing support to a major bank’s investment banking division.
- Banking Associates are paid very well, with salaries ranging from $70,000 to $125,000 per year.
- They collaborate with a team of bankers to analyse potential investments, make recommendations to clients, and provide assistance during the closing process.
Conclusion
These best paying jobs in the banking arena provide ample occasions for the employees to learn and acquire different skills that can be used in a later corporate future as well.
These banking exams have to be cleared through an entrance test which in most cases is similar to an aptitude exams where the candidates are examined regarding their skills on logical ability, reasoning, comprehension etc.Offering a secured and a prosperous career, these best paying jobs in major banks must be among the top list of anyone seeking to brighten their future with respectable employment.
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