15 of the highest paid jobs in banking (with salaries)

By Indeed Editorial Team

Updated 22 September 2022 | Published 30 November 2021

Updated 22 September 2022

Published 30 November 2021

The Indeed Editorial Team comprises a diverse and talented team of writers, researchers and subject matter experts equipped with Indeed's data and insights to deliver useful tips to help guide your career journey.

The financial industry can be very lucrative for professionals with a strong business background and good communication skills. Banks, in particular, offer a variety of roles with steady hours and good salaries. Knowing the jobs available in this industry can help you choose the one that suits you best. In this article, we review some of the highest paid jobs in banking, including their duties and salaries.

Highest paid jobs in banking specialisations

The highest paid jobs in banking fall into different specialisations. It's common to find banks, especially well-established firms, that hire individuals from academic backgrounds that include computer science, finance, marketing, analytics and more. You might also find banking jobs in unique locations overseas as more and more banks extend into international markets. Here are some common job categories or specialisations you might find at a major banking firm:

  • commercial banking services

  • digital business services

  • global asset management

  • global private banking

  • global banking and markets services

  • wealth and personal banking services

15 banking jobs with high salaries

The banking industry offers several high-paid opportunities. Your own job search might begin by reviewing the most common job titles and determining which position best suits your training and work experience. Below is a list of the highest paying jobs in the banking industry:

1. Credit analyst

Average base salary: £41,805 per year

Primary duties: Credit analysts are often critical in the issuing of loans to individuals and businesses. They help banks review the credit profiles of potential borrowers, deciding whether to approve loan requests. Credit analysts usually possess good computer skills, as they employ software programmes to assess borrowers' risk levels. While it is common for credit analysts to work independently, they may also meet with clients and discuss any concerns.

2. Budget analyst

Average base salary: £43,469 per year

Primary duties: Banks employ budget analysts work to design plans for how to best spend money and deal with necessary expenditures. A budget analyst often generates reports throughout the year to detail how a company spends money, along with cost improvements, efficiency suggestions and future predictions. This type of career is usually appropriate for entry-level professional who want to work their way up through a bank.

3. Internal auditor

Average base salary: £48,547 per year

Primary duties: An internal auditor at a bank is essentially a reviewer and researcher. Internal auditors look into a bank's finances to determine efficiency and call attention to possible losses due to poor management. The internal auditor offers recommendations for streamlining banking operations and garnering more profits in the long run. It is usually the duty of an internal auditor to make sure there are no problems, erroneous accounting or internal theft within a bank.

4. Bank manager

Average base salary: £32,116 per year

Primary duties: Bank managers typically oversee a branch's daily operations. They're usually in charge of the branch's personnel and sell various financial products, such as loans and savings accounts. Bank managers may receive training in various aspects of communication, as their job includes not just financial duties, but also customer services and organisational management. As part of their duties, bank managers might also attend company training conferences continually.

5. Relationship manager

Average base salary: £33,017 per year

Primary duties: Bank relationship managers tend to work one-on-one with clients to find the best possible products and services. It's crucial for these professionals to know both the bank's offerings and the client's personal financial circumstances to represent their bank and advise their clients. Relationship managers can be essential for banks in acquiring and retaining important clients, such as business entities and corporate clients.

6. Asset manager

Average base salary: £46,868 per year

Primary duties: Asset managers usually handle the portfolios of clients with a high net worth. They might help their clients meet their financial goals and reduce the risk of various ventures. An asset manager's job is a combination of selling, advising, consulting and providing customer service. It's common for asset managers to handle alternative investment products for individual clients, including hedge funds, private equity and real estate.

7. Equities trader

Average base salary: £58,964 per year

Primary duties: An equity trader typically helps purchase and sell a firm's shares in the equity market. While equity traders usually find employment in an equity company, they may also work within a bank. Besides buying and selling stocks, they might also offer options, futures, commodities and derivatives on behalf of their clients. In addition, they may help clients develop strategies, track market data and predict future markets trends.

8. Foreign exchange trader

Average base salary: £41,899 per year

Primary duties: Foreign exchange (forex) traders are specialists who buy and sell foreign currency for a profit. Generally, major banks or trading firms hire forex traders. They usually study the currency markets and determine the best time to buy and sell. Foreign exchange markets fluctuate quite rapidly, so the job is typically suitable for someone who's ready for the challenges of a fast-paced career.

9. Wealth manager

Average base salary: £35,959 per year

Primary duties: Bank wealth managers help people manage their finances. They might help clients meet a budget, organise investments or calculate risks. They might also help clients find the best tax benefits with charities, estate or business succession planning. A wealth manager's usual clients include individuals and families.

Related: How To Become a Financial Advisor

10. Equity analyst

Average base salary: £65,186 per year

Primary duties: Equity analysts may have a variety of job duties, but their primary duties typically involve analysing financial information and trends. They may review bank balance sheets and annual reports to get a sense of their company's financial situation and then compare the data against market trends. Equity analysts usually work for financial firms and banks. For those thinking of becoming an equity analyst, it's usually beneficial to earn a higher education degree beyond a bachelor's degree, such as a Master's of Business Administration.

11. Investment banker

Average base salary: £18,625 per year

Primary duties: Banks, companies and governments hire investment bankers to raise money for new initiatives or expansions. Investment bankers usually gather funds by recruiting investors who then buy stocks or bonds that pay for the project. Investment bankers also assist clients by working through complex legal requirements. For this line of work, an MBA or some other higher education degree first is usually necessary.

Related: How much does an investment banker make?

12. Mortgage advisor

Average base salary: £36,206 per year

Primary duties: A mortgage advisor's main responsibility is to assist property purchasers through the mortgage process. The advisor may examine a purchaser's complete financial situation in order to make suggestions about the sort of mortgage that's appropriate. They might also act as the purchaser's advocate in negotiating mortgage terms and finalising the closing paperwork. Mortgage advisors usually make the mortgage process more approachable and comprehensive for homebuyers. They're typically important for first-time home buyers looking to relocate and in need of sound financial advice.

Related: How to become a mortgage advisor

13. Loan consultant

Average base salary: £451 per day

Primary duties: Loan consultants help clients with loan and mortgage decisions. Their duties may include communicating with clients to determine loan requirements, as well as meeting with loan applicants to explain the different loan options available. Loan consultants also assess a client's financial information and decide whether to offer a loan at all. Loan consultants generally work in a bank where they might choose to specialise in a specific type of loan, such as commercial, mortgage or consumer.

Related: 40 banking interview questions (and how to answer them)

14. Investment banking analyst

Average base salary: £64,869 per year

Primary duties: Investment banking analysts focus on advising financial sponsors. They usually work within the infrastructure sector, including industries like transportation, utilities, energy and telecom. They often work across a variety of sectors and with multiple processes, including sell-side and buy-side processes. Investment banking analyst might build financial models, conduct valuation, design research and cooperate with financial and commercial counterparties.

15. Financial analyst

Average base salary: £36,677 per year

Primary duties: Financial analysts review a company's economic performance. They conduct financial analysis, financial modelling and find market trends. They also measure financial risk, create a financial forecast and offer recommendations on the best financial decisions, such as those regarding investments. The responsibilities may vary for those in this field.

Salary figures reflect data listed on Indeed Salaries at time of writing. Salaries may vary depending on the hiring organisation and a candidate's experience, academic background and location.

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