Top 9 Highest Paying Bank Jobs
Written by
Joshua Rodriguez
Edited by
Amber Barkley
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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.
High-paying Bank Jobs
Take a look at some of these best-paying bank jobs in major banks to help you decide if this is the right career path.
1. Financial Manager
- Average Annual Salary: $131,710
- Required Education: Bachelor’s degree plus five or more years working in another position in the finance or business industry
- Number of Jobs: 730,800 in 2021
- Growth Outlook: 17% from 2021 through 2031
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 also analyze market trends to find opportunities and maximize profits.
2. Investment Banker
- Average Annual Salary: $133,538
- Required Education: Accounting, finance, business administration or other related bachelor’s degree
- Number of Jobs: 115,365 in 2022
- Growth Outlook: 15% from 2019 to 2029
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.
3. Financial Analyst
- Average Annual Salary: $95,570
- Required Education: Typically requires a bachelor’s degree in finance, but a master’s degree in finance gives applicants better odds
- Number of Jobs: 373,800
- Growth Outlook: 9% from 2021 through 2031.
Financial analysts evaluate current and past financial data to recommend individual investments and portfolios. They may examine financial statements to determine a company’s value, if it plans to go public, for example, or if it is an acquisition target.
4. Financial Examiner
- Average Annual Salary: $81,410
- Required Education: Bachelor’s degree
- Number of Jobs: 62,800 in 2021
- Growth Outlook: 21% from 2021 through 2031.
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.
5. Credit Analyst
- Average Annual Salary: $88,030
- Required Education: Bachelor’s degree in finance or business
- Number of Jobs: 65,761
- Growth Outlook: -4.94% over the next 10 years
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 making decisions.
6. Auditor
- Average Annual Salary: $77,250
- Required Education: Bachelor’s degree
- Number of Jobs: 1,449,800
- Growth Outlook: 6% from 2021 through 2031
Auditors examine financial statements to ensure they are accurate and compliant with applicable laws. They inspect the books and systems to ensure accounting principles are followed and look for signs of fraud. They assess financial operations, identify risks and challenges and recommend reducing costs and improving profits. Auditors may inspect the bank’s own records and the records of the bank’s current and prospective customers.
7. Securities and Commodities Sales Agent
- Average Annual Salary: $62,910
- Required Education: Bachelor’s degree
- Number of Jobs: 466,900
- Growth Outlook: 10% 2021 through 2031
Those who buy and sell securities, such as stocks, bonds and mutual funds, are often called “stockbrokers.” They may also trade commodities like gold, corn or even 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.
8. Loan Officer
- Average Annual Salary: $63,380
- Required Education: Bachelor’s degree plus around than five years of work experience in a related field.
- Number of Jobs: 354,600
- Growth Outlook: 4% from 2021 through 2031.
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.
9. Teller
- Average Annual Salary: $36,310
- Required Education: High school diploma or equivalent
- Number of Jobs: 378,000
- Growth Outlook: -12% from 2021 through 2031.
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 itself, teller is often an entry-level position in a bank, and experience in this position could lead to other banking jobs, like branch manager or loan officer.
What Is the Major Banking Industry?
The major banking industry includes entities like retail banks, commercial banks, wealth management firms, investment banks and corporate banks. People recognize this industry as having highly-professional jobs typically matched with high salaries.
What Are the Requirements and Skills to Work In Major Banking?
Some banking jobs have little by way of education requirements. For instance, bank tellers are typically only required to have a high school diploma or the equivalent. On the other hand, applicants are typically required to have a bachelor’s degree or higher for jobs like credit analyst, financial planner, investment banker and branch manager.
Regardless of the degree required for the specific position, all applicants should have the following skills:
- Basic Understanding. Applicants should understand how banks work and their financial solutions.
- People Skills. Banking is best for those with solid communication and interpersonal skills.
- Numbers. It’s a perfect career path for those with strong numerical skills.
- Regulatory Knowledge. Some banking positions may require applicants to have a working knowledge of regulatory activity associated with the job they’re seeking.
- Upselling. Those considering a career in banking should be able to spot opportunities for upsales or product trades that benefit the bank and the customer.
- Problem-solving. The best major bank employees have a keen ability to solve problems on the fly.
- Attention to Detail. Those who have the ability to spot even the smallest details tend to do best in banking.
Final Take
The banking industry can be rewarding, especially for outgoing, analytical individuals. Moreover, many jobs with major banks have the potential to produce income well above the national median income — as reported by the U.S. Census Bureau in 2022 — of $70,784. Those looking for a rewarding career should strongly consider preparing for a career in major banking.
FAQ
Asking questions is one of the best ways to learn about anything. Some of the most common ones about a banking career include the following:- What is the highest-paying job in a bank?
- The highest paying job in banks is currently a job as an investment banker. Investment bankers typically earn about $133,538 per year. That works to an hourly wage of about $64.20. Financial Manager is a close second with an average salary of $131,710 per year, or $63.32 per hour.
- Which bank pays the highest salary?
- According to Indeed, California Bank & Trust pays the highest salaries with an average hourly wage of $45.72. The next closest competing banks in terms of pay include:
- -Adams Bank and Trust. The average employee at Adams Bank earns $35.12 per hour.
- -Popular, Inc. The average employee at Popular earns $28.39 per hour.
- -First Republic Bank. The average employee at First Republic earns $26.76 per hour.
- -DISYS. The average employee at DISYS earns $25.95 per hour.
- According to Indeed, California Bank & Trust pays the highest salaries with an average hourly wage of $45.72. The next closest competing banks in terms of pay include:
- Is commercial banking a hard job?
- Most jobs come with significant challenges within the first eight weeks of employment. The good news is those challenges don't last forever. As new employees work in their new jobs, they tend to learn as they go, making those jobs much easier with time.
Karen Doyle, Michael Keenan and Cynthia Measom contributed to the reporting for this article.
Data is accurate as of March 10, 2023, and is subject to change.
Our in-house research team and on-site financial experts work together to create content that’s accurate, impartial, and up to date. We fact-check every single statistic, quote and fact using trusted primary resources to make sure the information we provide is correct. You can learn more about GOBankingRates’ processes and standards in our editorial policy.
- Statista. 2022. "U.S. banking industry - statistics & facts."
- IBISWorld. 2022. "Investment Banking & Securities Dealing in the US."
- Corporate Finance Institute. 2022. "Credit Analyst Career Path - Overview, Education and Skills Required."
- U.S. Bureau of Labor Statistics. "U.S. Bureau of Labor Statistics."
- Indeed. 2022. "Banker salary in United States."
- U.S. Census Bureau. 2022. "Income in the United States: 2021."
- Indeed. 2023. "How To Become an Investment Banker."
- Glassdoor. 2022. "How much does an Investment-Banker make?"
