The banking sector has a wide range of jobs and if you want a high-paying career, this industry is the answer to your dreams. Many might consider banking to be difficult, however, it is a hoard of money. Your efforts are well-compensated. Here we bring to you some expert advice on how to prepare for high paying banking jobs. But before that let us give a quick glance at what are the highest paying banking jobs. Based on data from the Bureau of Labor Statistics, here are the job positions that help you earn a lot.
High Paying Banking Jobs
What banking jobs pay the most? Read on to learn about the top 10 highest paying bank jobs. The salaries given below might differ as here we have listed the average salaries for these positions.
10. Credit Analyst: $48,800
9. Budget Analyst: $54,000
8. Internal Auditor: $60,000
7. Bank Manager: $61,200
6. Relationship Manager: $66,000
5. Asset Manager: $67,000
4. Equities Trader: $71,900
3. Foreign Exchange Trader: $89,100
2. Equity Analyst $99, 200
1. Investment Banker: $100,670
So, these were the top high paying banking careers. Now read on to discover the best tips on how to prepare for high paying jobs in the banking sector.
How To Prepare For Bank Jobs
The banking industry has some of the top-paying job designations such as high paying investment banking jobs. Furthermore, there are also some high paying entry-level banking jobs as well. So, here we will tell you about high paying jobs with banking experience as well as without-experience ones. Banks often promote from within. Therefore, even those starting at entry-level and working their way up, have the potential to succeed as a banking professional. Like any other field, you must begin your preparation by achieving the necessary education.
1. Educational Qualification for Banking Jobs
High School Diploma
Firstly, every bank job will require at least a high school diploma or GED. For example, a bank teller position will just require high school certification. However, when in school, students should begin working on the skills they will need for the highest paying investment bankers’ position. Therefore, practising presentations, Microsoft PowerPoint and Excel, interacting with different types of people help to build ancillary skills for banking jobs.
Next, you must get your bachelor’s degree. A bachelors degree in accounting, business administration, or finance are some of the best options.
If you plan to apply right after graduation, then you must opt for some internship courses as well. These summer internships provide significant advantages when it comes to getting hired. For this you can search the internet for internships with major banks or you can simply apply in person to a bank in your area.
Get an Advanced Degree
A master’s degree is certainly becoming a necessity to be on the high paing job positions in the bank. Their academic programs allow concentrations in banking. Some popular choices include business administration or a master of finance degree.
2. Clear Relevant Examinations
In order to represent a bank or financial institution, the professionals are required to register with the Financial Industry Regulatory Authority (FINRA). An examination based on their specific banking work is mandatory for certain licences. For instance, some common exams – or series include:
- Series 79– This is an Investment Banking Representative Examination. It is required for candidates who want to oversee company buyouts and direct refinancing.
- Series 7– The General Securities Representative Examination is for those who want to work as stockbrokers.
3. Research for Jobs
You must attend networking events. Use your network of friends, family, professors, college acquaintances and find job opportunities. Your goal is to get to know the people in the banking community. Social networking websites like LinkedIn and Facebook prove to be of great help. Also, informational websites provide sufficient information of various bank job opportunities.
4. Prepare A Decent Resume and Apply
When you start a job search, simultaneously you will need a good banking resume to apply for various job positions. Target the job positions with high salaries. Follow our banking sector resume tips and experts’ advice. Also, you can use our free banking resume templates to create your own personalized resume. Resumes serve to be your first impressions. So, be careful in this part.
To apply for good jobs in the banking industry you can go directly to the bank and ask for an application. However, it is better to check for available banking job positions online. Browse your bank’s website and find out how to apply for the job. Submit your tailored resume and wait for your call.
Do check out tips to prepare a banking job resume.
5. Prepare for Interview
The time period between a job application and interview calls is crucial. You get this time to prepare for your interview. So, do not waste it and brace yourself for a successful interview. When you go for the interview, ensure that you wear formal business attire, act professionally and create a positive impression. You must effectively use your knowledge from your informational interviews to put up a few questions and show that you have made an effort to learn about the bank and the job position. Remember to follow up with the interviewer post-interview.
So, this completes some basic tips to preapre for high paying banking jobs. If you have queries, comment below. Our team will guide you through your journey.