The banking industry is among the most lucrative sectors to work for in the world, and has a wide variety of jobs that pay well. If you’re interested in climbing the corporate ladder and are wondering what some of the highest-earning jobs are, then keep reading as we go over the three best-paying jobs in the banking industry.
Whether you’re exploring potential careers, studying for a degree, or on the job hunt, this article will cover everything you need to know about the banking industry and the best-paying jobs that you can aspire to achieve.
Chief Banking Officer
A chief banking officer, or CBO, is a very important and high-up role in a bank or financial institution. They are responsible for a large portion of the bank’s strategic planning and overall direction, as well as overseeing customer relationship growth and carrying out annual goals and objectives for the bank.
Becoming a chief banking officer is a long and difficult task that only few are able to achieve, due to there only being one chief banking officer for every bank. Many chief banking officers are promoted to the role after working for their respective banks for many years. For example, this article on Housingwire announces a bank promoting their chief credit officer to executive vice president and chief banking officer.
With the large responsibility of the role, also comes a large paycheck. As a chief banking officer for a bank, you can expect to make $240,000 to $540,000 a year.
1. Chief Financial Officer
Alongside the chief banking officer is another crucial role for banks and companies alike, the chief financial officer. This role is responsible for overseeing the whole of a bank’s financial operations. This includes things such as financial planning, reporting, managing financial risk, ensuring the bank has enough liquid cash, and many more important tasks.
The chief financial officer is a role used at every type of company, including banks. They are typically seen as a leadership position, and you would report directly to the CEO as a chief financial officer.
The salary for this job depends almost entirely on the company because the role is among the top executives in the company. On average though, a chief financial officer can expect to make $393,377, according to this article on Investopedia.
2. Investment Banker
Investment bankers play a crucial role in the investment banking industry, and are responsible for raising capital for the clients of the bank. Investment bankers also deal with other responsibilities such as helping companies hold their initial public offering and going public with their stock, in addition to facilitating any large financial transactions (like mergers and acquisitions).
Due to the importance and wide range of specialities associated with this job, investment bankers can expect to earn a salary of $175,000 to $225,000 at a starting investment banker job, going all the way up to $450,000. If you’d like to learn more about investment banking and their salaries, check out this article here.
We hope you found this article on banking jobs helpful, and that you now have some high-paying jobs to aspire to.