The banking sector is one of the biggest employers in the world. It is also one of the most robust, with no signs of slowing down anytime soon.
Banks are increasingly looking for skilled individuals to fill positions, and one way you can increase your chances of getting a job in this sector is by pursuing the right education.
Finance positions have become a lot more sophisticated over the last decade, and anyone who wants to work in finance today must take online courses that are tailored to the needs of the sector.
List of the best paying jobs in major banks
1. Financial Analyst – $83,660
The banking industry is all about analyzing numbers, and that’s because financial analysts are always in high demand.
This position involves analyzing data such as sales and profits, developing budgets and making forecasts about future trends. To be a financial analyst, you will need to possess excellent mathematical skills, a solid understanding of financial terms, and the ability to work independently.
2. Investment Banker – $112,500
Like financial analysts, investment bankers are a critical part of the banking system. Investment banking is a field that deals with the creation of wealth by purchasing and selling assets.
This position requires financial knowledge and experience, as well as the ability to calculate and make precise financial projections. To become a member of investment banks, you must have the necessary education and qualifications.
3. Credit Analyst – $78,000
Credit analysts are responsible for assessing the creditworthiness of borrowers. This position requires a thorough knowledge of the financial system and all its intricacies, as well as strong analytical skills.
You must also possess excellent communication skills to interact with borrowers, suppliers and other stakeholders involved in the lending process. Credit analysts work closely with credit administrations and financial analysts to ensure that their client’s credit needs are met.
4. Auditor – $78,000
Auditors are employed by companies to ensure that their financial and operating activities comply with standard regulations. You will need to work with a variety of experts in the company such as finance and human resources, to come up with recommendations for improvement.
Auditors are rated based on the compliance level of their clients, so you will need to display great integrity and commitment as an auditor if you want to be well-regarded by your peers.
5. Relationship Manager – $82,000
Relationship management is a critical role in the banking sector. Relationship managers are tasked with developing long-term business relationships with their clients. You will need to build rapport with your clients by offering them the best financial services and products that suit their needs.
The relationship management field is highly competitive, so you will need to possess excellent interpersonal and communication skills to succeed in this position.
6.Loan Officer – $77,339
Loan officers are in high demand in the banking industry. Loan officers manage every stage of a loan application and also make sure that the finances of their clients are being managed properly.
Loan officers will handle all the formalities involved with a loan application, such as legalities and valuation. Being an effective loan officer requires dedication and patience to ensure that your client’s payment obligations are met.
7. Financial Manager – $95,000
Financial managers are responsible for the overall financial performance of their clients. They supervise the financial management and operations of their clients, making sure that they comply with all regulations and tax laws.
This position requires excellent communication skills as well as a strong understanding of accounting policies and procedures. Financial managers will also have to interact with other financial specialists like auditors, loan officers and credit analysts, to come up with comprehensive solutions that suit the needs of their clients.
8. Software Developer – $98,000
Software development plays an important role in the banking sector as it supports financial technologies and addresses the ever-changing needs of clients.
You will need to have a firm understanding of programming languages and communication protocols to succeed as a software developer. Software developers must also be familiar with Microsoft Office, Excel and other advanced software platforms.
9. Chief Risk Officer – $114,000
The financial risks faced by banks are constantly evolving, and it is the duty of chief risk officers to ensure that their clients remain well protected against these risks.
Chief risk officers also need to be able to take charge when there are problems within the company, such as fraud or employee theft. To be a chief risk officer, you will need sound leadership skills and the ability to execute upon plans.
10. Compliance Manager – $95,100
The financial industry is highly regulated, and compliance managers are responsible for ensuring that their clients comply with financial regulations.
Compliance officers make sure that the policies and procedures of their clients are in line with the current regulations governing their sector. In addition, compliance officers make sure that employees are kept up-to-date on current policies and constantly develop new ways of ensuring that their clients adhere to regulations.
Compliance managers must be adept at writing reports, coordinating with other professionals in the banking sector and managing budgets.
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The rewards of being a financial professional can be great. Working in this sector means that you will have a broad range of career opportunities, which can lead to a rewarding future.
If you are looking to increase your earnings, these best paying jobs in major banks will certainly help you achieve your goals and propel your career to greater heights.
The key to becoming successful in this field is to get the proper education and training, and also gain experience while working at different banks. This way, you will be able to develop a more comprehensive knowledge across the board.