4 Highest Paying Banking Jobs

While many banking jobs tend to be very lucrative, your remuneration will ultimately rest on your specialization and the level of expertise in the field. Supply and demand will also dictate the wages in this industry. If you are currently studying in a finance related field, or was thinking of entering finance, then it would be wise to know how much different positions pay. Here are some of the highest paying positions in the banking field.

Portfolio Manager

The job of a portfolio manager is to manage your client’s investments and work as an advisor. You will be asked to recommend some financial products and advise on which investments should be made and which ones to avoid. As a portfolio manager, you will have to be constantly on top of recent news and developments, stock prices, mergers and company earnings.

To become a portfolio manager, you’ll at least have to have a bachelor’s degree in economics or finance, however, the majority of portfolio managers completed their master’s. The average portfolio manager can make as much as $118,000 per year.

Investment Banker

The job of investment bankers is to assist banks, governments and companies to raise money for certain projects, such as expansions for instance. Investment bankers are responsible for finding people to purchase securities to finance such projects, such as government bonds for instance.

Investment bankers are also responsible for teaching clients the ins and outs of fundraising and the regulation surrounding it. While it is perfectly possible to land a job as an investment banker with a bachelor’s, most go for an MBA to set themselves apart. The average investment banker can make as much as $100,625 per year.

Wealth Manager

If you’re good at numbers and budgeting, this might be the perfect position for you. Wealth managers will usually work with families and individuals and your job will be to work as a financial planner. You will be in charge of weighing their assets, expenses and liability as well as their debt and then coming up with a plan.

You will also be in charge of monitoring your clients’ investments and assessing risk as well. You might be also asked to help with things like maximizing tax incentives or business and estate succession planning. To work as a wealth manager, you’ll need at least a bachelor’s degree, though a master’s will open more doors. The average wealth manager can make as much as $94,115 per year.

Commercial Banker

Your job as a commercial banker will be to coordinate loan officers and financial advisors among other things. You will also be responsible for making sure that each department works together and to facilitate relationships and communication between departments.

In addition, you will be asked to identify profitable credit and commercial banking customers and sell them on financial products, such as lines of credit or financial advisory. The average commercial banking salary is around $48,000 for entry level positions, but can go up to $115,000 depending on your years of experience.

The banking field offers tons of great possibilities for finance majors. Make sure that you look at all the positions the banking field has to offer and pick one that caters to your strengths and has good job prospects.