The banking sector has evolved immensely over the last couple of years thanks to factors such as technology. Let’s face it: as much as AI is dominating the current workforce, there are some roles that only humans can play effectively.
For instance, no one would warm up to the idea of having a robot serve them when they are in dire need of human interaction at the bank halls. That said, there are some job roles that the finance market considers to be the best.
Top Paying Job Roles in Banking
They may also be sure to secure your banking career for years to come. Let’s dive in and have a look at the top banking job roles to consider.
1. Finance Manager
As far as the highest paying bank jobs go, the title tells you everything you need to know about this position. Banks are unable to function adequately without the services of a well-trained and experienced finance manager. It’s safe to say they carry the bank’s future.
A finance manager’s salary depends on the credibility and relevance of the banking institution with which they are affiliated. Their salaries also depend on their years of experience as well as their level of education in the field of banking.
While they carry home a fat cheque at the end of the month, their in-trays are riddled with all manner of duties that they need to discharge professionally. They include;
- Collect and provide accurate reviews and interpretation of financial information.
- Prediction of financial trends likely to occur in the future.
- Work closely with stakeholders and company management and give sound financial advice on how banking matters should be conducted.
- Nip financial risks in the bud by providing professional solutions that hinder the organization’s growth.
Another requirement when applying for this role is a reference letter from one’s previous place of work, recommending their expertise and unmatched services. This applies to those who have been in the banking sector for a while and are looking to expand their horizons.
A finance manager bags about $129,898 per year.
2. Investment Banker
A significant portion of the workforce is leaning toward investments and properties. A single source of income is never a smart move, and that’s where the services of an investment banker come in handy.
So, what does an investment banker do? Their primary role is to advise clients on pragmatic ways to raise capital to boost their business. They are pretty flexible and may offer their services independently or under a bank’s cover.
When working individually, an investment banker is expected to deliver multiple services related to investments. On the other hand, an investment banker employed by a bank is limited in the services they are expected to render to clients.
An investment banker with a significant level of experience is better off compared to a fresh college graduate. The primary reason is their ability to predict the financial future of the banking institution and the economy.
The core functions of their role border on the ability to sell stock or shares to companies or individuals. They take home around $265,256
3. Portfolio Manager
This role requires the heavy research skills that a portfolio manager uses to stay current with the latest banking trends in the market. The term portfolio is the manager’s ability to research stock prices and advise their clients on the way forward.
Portfolio managers must exude an aura of cordiality to earn their client’s trust and confidence. They walk with their clients to know what their investment goals are and then advise them accordingly.
Portfolio managers are also welcome to give their clients a wide array of investment options to choose from. This is based on their findings after in-depth research. On average, a portfolio manager takes home about $85,732 to $115,580 annually.
4. Asset Manager
An asset manager is tasked with understanding the client’s financial goals and obligations and giving professional views. Asset management comes along with risks that the manager must be well versed in to spearhead a fruitful meeting with clients.
Basically, an asset manager advises clients when it comes to handling assets. This is mainly on the price tag to place on every property under their name. High-profile knowledge of technology is crucial since it enables an asset manager to understand its role in the growth and maintenance of assets.
When working for a bank, one of their major roles is to ensure that the bank acquires maximum profitability from every viable source. This is, of course, in conjunction with other key figures such as stakeholders and board members.
An asset manager’s estimated income on a yearly basis is around $89,402
We’d be kidding ourselves if we said we’re taking some courses in college based entirely on our passion. In today’s fast-paced world, salary expectations drive our desire to pursue our course of choice.
The banking sector is not an exception and has quite stringent requirements that every candidate must meet without fail. Although the figures keep fluctuating, you are better off having a rough idea of what to expect once you find yourself in this field.