10+ Best-Paying Jobs in Major Banks for 2024

Published on March 28, 2024

10+ Best-Paying Jobs in Major Banks for 2024 was originally published on Forage.

The best-paying jobs in major banks include financial analysts, accountants, and managers overseeing financial operations, marketing, and sales. Most of the highest-paying jobs major banks offer require at least a bachelor’s degree and several years of experience. By building the right skills and networking effectively, you can get your foot in the door and start working toward a high-paying career in financial services at a major bank. 

Best-Paying Major Banks Jobs 

The best-paying jobs in major banks range from financial analyst roles to careers in tech and sales. 

1. Loan Officer

Average salary: $84,160

Loan officers typically work in the commercial and retail banking side of major banks, helping clients find and apply for loans. The types of loans these professionals work with include mortgages, small business loans, and personal loans. Some of a loan officer’s job overlaps with underwriting duties, such as reviewing an applicant’s credit score and financial records to determine if they qualify for a loan. 

While you can technically become a loan officer with just a high school diploma, most employers prefer applicants with bachelor’s degrees and experience in finance and accounting. Additionally, you may need certifications or licensure for some specializations — mortgage loan officers must be licensed to originate mortgages. 

>>MORE: Explore the different responsibilities of loan officers and underwriters. 

2. Accountant or Auditor

Average salary: $86,740

Accountants working in major banks help record and review financial information. Some of an accountant’s job overlaps with other careers in banking, and accountants often handle things like financial analysis, budget review, and financial planning alongside other finance professionals. You typically need a bachelor’s degree — finance degrees, accounting majors, or related fields of study are usually best for becoming an accountant or auditor. However, some accountants have advanced degrees since accounting certifications have educational credit hour requirements.

Similarly to accountants, auditors help companies and individuals track and record financial information. They verify records and transaction data and ensure companies are transparent and compliant with regulations. In banking, some auditors work internally, ensuring the bank records its financial information accurately. However, some auditors work externally at accounting firms, like PwC or KPMG, and perform audits on banks on behalf of the public and government. 

>>MORE: What’s the difference between an accountant vs. an auditor?

3. Financial Examiner

Average salary: $95,610

Financial examiners are compliance experts — they ensure major banks comply with local, state, and federal regulations and craft guidelines to help employees stick to the rules. By verifying transaction records and working closely with financial managers and legal teams, financial examiners serve as a vital line of defense to keep banks running smoothly. 

A financial examiner typically needs a bachelor’s degree, but advanced degrees are useful for advancement in the field. Additionally, experience in legal fields can help you become more marketable to employers.

>>MORE: Check out some of the best careers in law that don’t require becoming a lawyer.

4. Investment Products Salesperson 

Average salary: $100,740

Investment products salespeople sell financial services and investment products like commodities and securities. In addition to buying and selling stocks and bonds for individuals and institutional clients, they also help guide client investment decisions, advising them on market conditions and favorable opportunities. 

Some investment product salespeople perform a similar role as stockbrokers and securities traders, executing securities sales and trades for individual high-net-worth clients. Others handle duties along the same lines as portfolio managers, overseeing the purchase and sale of securities for company investment portfolios. 

>>MORE: See the difference between traders and brokers. 

To work as a financial services salesperson for a major bank, you generally need at least a bachelor’s degree. You’ll likely also need a license to buy and sell securities through the U.S. Securities and Exchange Commission (SEC). 

5. Financial Analyst 

Average salary: $108,790

Financial analysts use their knowledge of economics, data analysis, and business best practices to help major banks and their clients increase profits and improve business processes. Most financial analysts have at least a bachelor’s degree, but advanced degrees are common for career advancement and specialization. 

The title of financial analyst is an umbrella term encompassing a wide range of roles, some of which are the best-paying careers in finance. Specialized titles for financial analysts working in major banks include: 

>>MORE: Explore the best investment banking job simulations on Forage. 

6. Software Developers

Average salary: $132,930

With the rise of online banking, major banks need talented software engineers and developers to create intuitive, useful, and secure web and mobile applications. Software developers in banks also help manage security and data protection, keeping your account details safe and preventing data breaches. 

>>MORE: Learn the difference between software engineers and developers.

While some banks may prefer software engineers with bachelor’s degrees, it’s possible to break into the industry if you can show you have the technical skills required. You can build those technical skills in college degree programs, self-study courses, or software engineering and coding bootcamps. 

7. Financial Advisor

Average salary: $137,740

Financial advisors work with clients ranging from families to high-net-worth individuals to large-scale corporations, helping them identify and meet financial goals. For individuals and families, a financial advisor may help with retirement planning or building a college fund. On the other end of the spectrum, financial advisors assist companies with investing, portfolio management, spending, and budgeting. 

You need at least a bachelor’s degree to become a financial advisor in a major bank, and certifications can help you become more marketable to employers and build trust with clients. The most common certification for financial advisors is the certified financial planner (CFP) designation from the CFP Board. 

>>MORE: Find the right company for you with our list of the top finance companies of 2024. 

8. Sales Manager

Average salary: $150,530

Sales managers oversee teams of salespeople while maintaining and reaching for specific revenue and income goals. Major banks’ sales teams are responsible for selling financial services and products like credit cards, banking accounts, and investment management services. In addition to ensuring teams meet sales goals, sales managers build and maintain client relationships, especially with institutional clients and high-net-worth individuals. 

Sales managers usually have at least bachelor’s degrees, but the major may not matter. What’s most important is understanding sales fundamentals and relationship management. Pursuing master’s degrees in business or finance can be helpful for career advancement, though. 

9. Marketing Manager

Average salary: $158,280

A marketing manager is responsible for aligning company goals with marketing strategies. Many marketing managers oversee a team of marketing analysts and serve as a go-between for executives and marketing employees. Under the guidance of marketing managers, bank marketing teams run campaigns, seek ways to improve profits, and control the bank’s brand image. Additionally, marketing teams help customers understand the bank’s available products and services. 

A bachelor’s degree in marketing or business is the minimum education requirement for most marketing managers, but many also pursue master’s degrees. As a management-level position, you generally need several years of experience in marketing to qualify. 

10. Financial Manager

Average salary: $166,050

A financial manager oversees the finances and operations of companies, individuals, or teams. For instance, some financial managers oversee teams of accountants and auditors, while others help clients manage their investment portfolios. You generally need at least a bachelor’s degree to become a financial manager. However, as this is a management-level position, you also need significant experience in finance, economics, or related fields to qualify. 

Financial managers can specialize in a variety of areas and work under job titles like: 

  • Portfolio manager
  • Investment manager
  • Accounting manager
  • Branch manager
  • Controller
  • Treasurer 

Entry-Level Major Banks Careers

Breaking into a major bank career can be challenging — with so many different banking divisions, it’s hard to know where to begin. Some of the best entry-level careers in banking that can help you get your foot in the door include: 

  • Teller: Working as a teller, you can begin to network with the higher-ups in your local branch, building the connections needed to move up the career ladder. 
  • Underwriting assistant: Underwriting assistants perform data analysis, helping professional underwriters determine loan eligibility for bank clients. Working as an assistant underwriter is a great way to build vital analytical skills and make connections in the industry. 
  • Data analyst: Data analysts are crucial across the banking industry, and beginning here can make transitioning into financial analysis easier. 
  • Personal banker: Personal bankers work directly with clients, and the relationship maintenance skills you learn as a personal banker can help you move into sales and management roles. 

How to Land a Great-Paying Job in Major Banks

Getting a career in a major bank requires having the right skills, knowing the right people, and making yourself marketable through education and certifications. 

Familiarize Yourself With Financial Services

Financial services is a broad industry that encompasses banking, investing, insurance, and more. Once you understand the different career options in financial services, you can focus on the skills you need to get the career you want. For example, if you want to work in insurance, knowing the legal regulations surrounding insurance sales and claims processing is essential. On the other hand, if you’re interested in investing, you should learn the types of securities bought and sold in banks and the fundamentals of technical analysis. 

Prioritize Networking

Finance, like many industries, is built on connections. Knowing the right people can help you progress in your career and expand your options. If you’re just starting out in your career, try attending networking events on campus, registering for virtual events, and reaching out to relevant people via LinkedIn or other professional sites. 

Consider Certifications 

Certifications can show employers you have the right skills and knowledge to get the job done. Some common certifications in major banks include: 

Start building the skills you need for the best-paying jobs in major banks and get noticed by top employers with our free banking and financial services job simulations.

The post 10+ Best-Paying Jobs in Major Banks for 2024 appeared first on Forage.