Top 9 Highest Paying Bank Jobs
A career in banking can be challenging, interesting, and, in many cases, lucrative. There are many different jobs in retail and commercial banking. Here are some of the best-paying ones.
9 Best High Paying Bank Jobs
Take a look at some of these high-paying bank jobs and their salaries to help you decide if this is the right career path you want to take.
1. Financial Manager
- Average annual salary: $134,180
A financial manager prepares forecasts, business activity reports and financial statements for banks, non-profit organizations or businesses. They may supervise financial analysts and budget analysts. They ensure that all legal requirements are being met by monitoring financial details. They may analyze market trends to find opportunities and maximize profits.
To become a financial manager, you should have a bachelor’s degree, preferably in business, finance, or economics, and at least five years or more experience as a financial analyst, accountant or stockbroker.
According to the Bureau of Labor Statistics, the demand for financial managers is increasing. It’s expected to grow 17% between 2020 and 2030, which is much faster than the average demand.
2. Investment Banker
- Average annual salary: $134,180
Investment bankers work for large banks that facilitate financing for large corporations or organizations. When a company ‘goes public’ by issuing stock for the first time in an Initial Public Offering or IPO, an investment bank sets the price and manages the process. Investment bankers negotiate and execute these transactions.
The Bureau of Labor Statistics lumps investment bankers in with other financial managers at an average of $134,180 with five years of experience. But an investment banker can earn as much as $100,000 right out of college, according to Corporate Finance Institute.
Investment banking is a very performance-driven role, so many firms pay relatively small salaries along with large performance bonuses. This leads to a culture of long hours and high stress.
To become an investment banker, you should have a bachelor’s degree in finance or economics. Many investment bankers also have an MBA. You will need to be registered with the Financial Industry Regulatory Authority by taking the required exams.
3. Financial Analyst
- Average annual salary: $83,660
Financial analysts study and evaluate current and past financial data to recommend individual investments and investment portfolios. They may examine financial statements to determine a company’s value, if the company plans to go public, for example, or if it is an acquisition target.
A financial analyst will typically have at least a bachelor’s degree, usually in business. Many financial analysts have a master’s degree. You can become a Chartered Financial Analyst — a certification issued by the CFA Institute — by passing several exams and having the requisite years of experience.
The demand for financial analysts is expected to increase by 6% between 2020 and 2030, according to the Bureau of Labor Statistics. This is about average for all occupations.
4. Financial Examiner
- Average annual salary: $81,430
A financial examiner monitors the financial condition of a bank or other financial institution by reviewing financial documents like balance sheets, income statements and loan documents. They may also write reports on the financial soundness of an institution. A financial examiner may specialize in risk assessment (the financial health of the institution) or consumer compliance (ensuring fair treatment for borrowers).
To become a financial examiner, you should have at least a bachelor’s degree, preferably in accounting or another business discipline. Financial examiners are typically trained on the job by experienced examiners. You can become a Certified Financial Examiner by completing educational requirements and taking exams.
The demand for financial examiners is increasing at a much faster rate than average. The Bureau of Labor Statistics predicts an 18% increase in the number of financial examiners from 2020 to 2030.
5. Credit Analyst
- Average annual salary: $74,970
A credit analyst examines the financial information of businesses and individuals to determine the risk involved with lending money. The credit analyst will also prepare reports on credit information for use in making decisions.
To become a credit analyst, you should have a bachelor’s degree, preferably in a business discipline such as accounting, finance or economics. The demand for credit analysts is declining as more of their job functions become automated. The position is expected to see a decrease of 6% from 2020 to 2030, according to the Bureau of Labor Statistics.
- Average annual salary: $73,560
Auditors examine financial statements to ensure they are accurate and compliant with applicable laws. They inspect the books and systems to make sure accounting principles are being followed and look for signs of fraud. They assess financial operations, identify risks and challenges, and make recommendations to reduce costs and improve profits. Auditors may inspect the bank’s own records as well as the records of current and prospective customers of the bank.
To become an auditor, you should have at least a bachelor’s degree in accounting, finance or another business discipline. Many auditors are Certified Public Accountants, a certification that requires work experience and passing a four-part exam. An auditor may also become a Certified Internal Auditor with the appropriate work experience and passage of the exam. There are other certifications and designations available to auditors as well, such as the Certified Information Systems Auditor or Certified Management Accountant.
The demand for auditors is expected to increase by 7% from 2020 to 2030. This is about the same as the average increase for all occupations.
7. Securities and Commodities Sales Agent
- Average annual salary: $64,770
Those who buy and sell securities, such as stocks, bonds and mutual funds, are often generally referred to as “stockbrokers.” They may also trade commodities, like gold, corn or pork bellies.
Commodities traders specialize in commodities only.
These financial professionals contact prospective clients to present information and explain available services. They offer advice and facilitate the purchase or sale of securities and commodities. To inform their recommendations, they will monitor financial markets and the performance of individual securities and analyze company finances.
To become a securities or commodities sales agent, you should have a bachelor’s degree in business, finance or economics. You must be registered with FINRA which requires you to pass state and national securities exams. You must take continuing education classes and be affiliated with a broker/dealer to maintain your license.
These sales positions are often based at least partly on commission, so compensation can vary widely. The Bureau of Labor Statistics predicts a 4% increase in securities and commodities sales agents between 2020 and 2030, which is less than the average occupation.
8. Loan Officer
- Average annual salary: $63,960
Loan officers evaluate loan applications and recommend approval of loans, including mortgages. They use financial information to determine if a prospective borrower is likely to be able to repay the loan as agreed, often using underwriting software to inform the
To become a loan officer, you should have a bachelor’s degree, preferably in a business discipline like accounting or finance. You should have some work experience in banking, and will likely receive on-the-job training.
With loan transactions increasingly conducted online, the demand for loan officers is stagnant, with just a 1% increase anticipated from 2020 to 2030. This is lower than the average for all occupations.
- Average annual salary $32,620
Tellers process routing banking transactions for customers, such as making deposits and withdrawals, transferring funds, and processing money orders or cashier’s checks. While not a high-paying job, a teller is often an entry-level position in a bank, and experience at this position could lead to other banking jobs, like branch manager or loan officer.
To be a teller, you should have at least a high school diploma. You will receive on-the-job training, and a background check may be required.
As more and more banking transactions are being conducted online, the need for tellers is declining. The Bureau of Labor Statistics predicts a 17% decline in the number of tellers from 2020 to 2030.
Michael Keenan contributed to the reporting for this article.
Data is accurate as of Feb. 9, 2022, and subject to change.
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- U.S. Bureau of Labor Statistics. 2021. "Financial Managers: Occupational Outlook Handbook."
- Corporate Finance Institute. "Investment Banker Salary - You'll Be Surprised How Much They Make."
- Indeed. 2022. "How To Become an Investment Banker."
- U.S. Bureau of Labor Statistics. 2021. "Financial Analysts: Occupational Outlook Handbook."
- U.S. Bureau of Labor Statistics. 2022. "Financial Examiners: Occupational Outlook Handbook."
- U.S. Bureau of Labor Statistics. 2021. "Securities, Commodities, and Financial Services Sales Agents."
- U.S. Bureau of Labor Statistics. 2021. "Tellers : Occupational Outlook Handbook."