What Are The Best Paying Jobs In Major Banks?
09 May 2023
5 Mins Read
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Is major banks a good career path? Yes, you will know why once you go through this article.
One of the most sustainable and secure job opportunities lies within the banking and finance sector. Yes, getting a job in this industry is challenging, but with the right skills and experiences, you can secure the best paying jobs in major banks.
There are many banking and finance-related professional opportunities that you can opt for. If your interest, education, and skills match some of these professional roles, you can definitely opt for one of the roles within the banking sector.
If you are a new graduate and looking for a job opportunity in the financial sector, you can opt for the options I have listed in this article.
10 Best Paying Jobs In Major Banks
I could have listed more opportunities, but the ten job roles I have listed are the best in this sector. Give them a quick read to know what these different roles are.
1. Loan Officer
If you are looking for the best paying job in the major banks, then the loan officer role is a good fresh start for you. In this job role, you will evaluate the loan applications, determine their creditworthiness, and help authorize the approval of different loans.
They interview loan applicants and gather information regarding their requirements. Loan officers are also responsible for assessing the prospectives’ financial capabilities for repaying debt for business, individual, or real estate loans.
They can also reject the applications of loan seekers after assessing their financial abilities to repay debt.
- This job role can be quite good for you, and you can expect to earn a salary of – $45,817 per annum.
2. Personal Banker
Another common option among the best paying jobs in major banks is the role of a personal banker. As a personal banker, you will be responsible for helping the customers open their new accounts. You will also help them with other necessary services such as loans, credit cards, and safe deposit boxes.
Customers usually go to these officials to solve their bank account-related problems. They also redirect the customers to financial specialists to help with mutual and trust funds-related problems.
- The annual salary for the role of personal banker is – $48763 per year.
3. Bank Clerk
Job seekers looking for best paying jobs in major banks can also opt for the position of Bank Clerk. They are responsible for handling the day-to-day activities within the bank. These responsibilities include – cash deposits, fund transfers, cash withdrawals, and money order or cheque processing.
They also have to be at the front desk and comply with the customers’ needs. Resolving their various issues, ensuring KYC compliance, and managing customer data are also among the responsibilities of the bank clerks.
- The annual salary for the role of bank clerk is – $49724 per year.
4. Accountant
As a bank accountant, you will be responsible for maintaining and overseeing the bank’s daily transactions and financial records. The bank accountants have to post to subsidiary and general ledgers and reconcile the ledger accounts.
They are also in charge of ensuring that the bank has sufficient cash for the requests and requirements of the customers. Bank accountants also oversee different account entries and look for suspicious activities within an account.
They can also initiate action against illegal financial activities such as money laundering and file reports to higher authorities within the bank. One of the many responsibilities of the accountants is also to go by different government regulations regarding accounting.
- These professionals in the Major banks earn an average annual salary of – $66,000 per annum.
5. Relationship Manager
A relationship manager is another best paying job role within major banks worldwide. You have to build and nurture healthy financial relationships with the existing and new clients of the bank as a relationship manager. Identifying potential new clients is also among the responsibilities of the relationship manager.
They require great communication skills to understand the customers’ grievances and to inform them about the new services offered by the bank. If you are looking for the best paying jobs in major banks, this is a good opportunity.
- Here is the annual salary of a relationship manager in major banks – $66,363
6. Credit Analyst
Many individuals and businesses seek credit from their respective banks. As a credit analyst, you will check and analyze their financial information. It is a great option to choose if you are looking for the best paying jobs in major banks.
They are also in charge of reviewing if the individuals and the businesses can fulfill their financial obligations and repay the credit the bank advanced them with. Credit analysts are also experts in risk analysis. They can help the bank determine whether to lend a customer money.
- The average salary of a credit analyst in the major bank’s sector range between $40,000 and $93,000.
7. Auditor
As an auditor, you have to review a bank’s financial statement and its records for accuracy checking. They are also in charge of overseeing the risk management procedure of the bank and checking the efficiency of the routine operations within the bank. Auditors also recommend, for cost reduction, a report regarding identifying any fraudulent activity. These professionals have to adhere to the auditing principles when creating and submitting their audit reports.
- As an auditor, you can earn a salary of – $53,200 per year
8. Financial Analyst
Another option among the best paying jobs in major banks is the financial analyst role. As a financial analyst, you will be responsible for analyzing the financial data from the past and the present. You have to make a financial performance report and report on market condition. They are also associated with making cost analyst policies and processes. Creating financial forecasts and financial models is also among some of the responsibilities of financial analysts.
- You will earn an annual salary of as a financial analyst – $74,438 per year.
9. Fund Manager
If you are looking for a good salary in a major bank job, then the role of a fund manager might be what you are looking for. You have to make separate investment strategies for different funds, sell stocks and bonds, and understand the market. Fund managers are also responsible for taking care of hedge funds, mutual funds, and pension funds.
- As a fund manager, you will earn a salary of $124,650 per annum.
10. Finance Manager
As a finance manager, you will be responsible for handling various financial tasks like creating financial estimates, developing budget plans, calculating risk related to different financial activities, and offering insights regarding how to maximize profit.
- You can expect to earn an annual salary of $103,624 per year.
Bottom Line
People looking for the best paying jobs in major banks should opt for any of the ten job roles listed in this article. The financial sector is supposed will keep having new vacancies every year as the global economy advances. There are thousands of opportunities open in these job roles across different countries.
You can aim for any of the roles discussed in this article. However, if you need further assistance with anything similar, please let me know through the comment section.
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