Choosing a job to make a career in any sector can be overwhelming and choosing any in the major bank sector is not less rigorous, this is because there are various career paths in the major bank sector. The major bank sector is a broad one that presents interesting job opportunities and you can be a part of it.
To choose the right job in the major banking sector, there is a need to do proper research and evaluate your skills and expertise before applying. You should also keep in mind that major banks fall under the financial sector and demand high-level skills and a few low-level skills. Some are high-paying and demanding jobs in the major bank sector and others are not.
In this article, we are going to discuss major banks in their clearer form. We will discuss what major banks are all about, is major banks a good career path? top 12 Best Paying Jobs in Major Banks in 2022.
If you want to get the best-picked jobs in major banks in 2022, continue reading.
What are Major Banks All About
Major banks are federal reserve banks that under the USA law and its states and must have at least a capital of $100 million.
When you hear the word major banks, what comes to your mind? Major banks are quite different from the other regular banks we have around us. Major banks are significant banks with high levels of financial investment, capital, and financial services. They provide services such as investment banking, assets management, wealth management, and more for government and private individuals.
Major banks are the world’s biggest banks and are offering major services. Some major banks are a conglomerate of banks that offer highly rated financial services in the world.
The well-known major banks are JP Morgan, First Boston bank, chase bank, Deutsche bank, AG bank, and other subsidiaries that spring from them.
Is Major Bank a Good Career Path?
The financial sector has a broad career opportunity that you can fit in if you are interested in banking and finance and the best path you can choose in finance is major banks. If you can flow with the work schedule of the banking system, then choosing a career at Fairbank is a good career path.
The industry provides opportunities for both professionals and ordinary workers, if you work in a banking mall, you will find professionals dealing with financial issues, transactions, customer services, and lots more, you can also find cleaners, cashiers, teller servants, security personnel and more, this is the same as major banks.
The major bank is rewarding and its workers are well paid for their services, it offers room for growth and development through constant training that comes with bonuses. It offers stability and financial intelligence to its workers.
Additionally, the major bank sector accommodates both genders and offers maternity leave accompanied by bonuses and allowances for new mothers.
The major bank sector can be tasking but it is a good career path.
Top 12 Best Paying Jobs in Major Banks
There are various jobs available in the major banking sector but some jobs attract highly paid salaries and compensations. To get these jobs, you must be skilled and must have a degree in a financial-related course, jobs such as accounting require a degree ee in accounting and higher degrees.
Alongside the degrees, you must have soft skills such as communication skills to communicate with customers and clients, analytical skills to analyze complex data, and a team player to work in a major bank.
The following are the top 12 best paying jobs in major banks.
Chief Accountant
The chief accountant is the head of the accounting department and is in charge of all financial inflows and outflows in the major bank. They ensure all funds in the major banks are accurately and adequately calculated and recorded by the accounting department. The annual budget containing expenditure and proposed income are made available with no errors to the top-level management. A major bank is a financial institution that deals with huge funds and this makes it important to have a chief accountant who manages a team of qualified accountants. The chief accountant is well paid, their estimated annual pay is $75000. It is rewarding and you can aim for it.
A Financial/ Data Analyst Expert
A financial/ data analyst is in charge of analyzing financial data and providing a comprehensive breakdown of the information for advisory purposes and better strategizing in organizations such as major banks. The financial analyst job is a technical and professional job that requires a professional degree in economics, banking, finance, data analysis, mathematics, etc to perform efficiently. A data analyst must carefully analyze data to avoid errors in analyses that might affect the organizational decision. A financial analyst is one of the best-paying jobs in Major banks, their estimated salary is $80,000 annually.
Financial Manager
The financial manager is in charge of the organization’s funds and investments, returns, and savings and ensures it is well managed. The financial manager strategies the steps to implement the budget created by the accounting departments and helps in investment decisions of the major bank for both the long term and the short-term. At the end of the year or a quarter, they give a well-detailed financial report. The financial manager in a major bank is respected and is one of the best-paying jobs in a major bank. Their estimated salary annually is $139,000.
Customer care and Bank relationship head
They are in contact with clients and customers to ensure they receive the best services for a longer relationship. They receive clients and customers’ complaints, give advice, and educate them on banking services. The customer care head ensures that the customer care representatives perform efficiently and the customers are satisfied. They are well paid and their salary is estimated to be $50,000 annually.
Loan Representatives
The loan representatives are in charge of loan services in the major bank. They offer advice to customers on the best fit loan, various loan options, and how they can secure loans in the major bank. The loan representatives are needed in the major bank as loans are a part of the revenue to the bank. They are well paid and their salary is estimated to be $60,000 annually.
Portfolio manager
The portfolio manager manages the major bank’s portfolio and through his analyses specifies when and where the major bank should invest to avoid loss. The investment decisions of the major banks are also a result of the portfolio managers and their team analyses and they are one of the best-paid workers in major banks. Their estimated salary is $100,000 annually.
Accountants
Accountants work under the chief accountant to ensure all funds, investment, expenditure, and income of the major bank is accurately calculated and are also highly paid as they perform accounting duties in the major bank. Their estimated salary is $60,000 annually.
Auditors
Auditors are in charge of inspecting financial activities and statements to ensure it is accurately recorded to ensure there are no fraudulent activities in the statements. They also give reports for any financial error or fraudulent act in the budget, financial statement, and bank reserve. Their estimated salary is $70,000 annually.
Investment Banker
They are in charge of controlling the investment fund in a major bank and controlling the initial public offering of a bank. Their estimated salary is $100,000 and above annually.
Credit Officers
They review loan requests for approval and also analyze the risk level of the borrowers to ensure they can pay when due. They are very important because loans are an important service rendered by major banks. They are well paid and their estimated salary is $50,000 annually.
Asset Management lead
The asset managers assist the customers in making asset-related decisions while banking with major banks. They sell assets and offer consulting services to clients and they are one of the best-paying jobs in major banks. They are highly paid too.
Hedge Fund Analyst
The hedge fund analysts make adequate research for the portfolio managers and team for investment analyses and decisions to be made. Their estimated salary is $90,000 annually.
Conclusion
The major bank sector is indeed a good career field that you can choose as a path if you are qualified for the roles. The major bank’s jobs are highly professional jobs that deal with sensitive work and information related to huge funds and as such, you must be skillful and resourceful.
The major banks are well-respected institutions in the world and their workers are highly paid and respected as well, so deciding to take a career path in it is a good choice.
If you are having difficulties in choosing a career path or a job role in the major bank sector, this article has picked out 12 best-paying jobs and their salary is estimated.
You can choose from the list above, we hope you make a good choice. Thanks for reading.