Is Major Banks a Good Career Path
Best Paying Jobs in Major Banks

Is Major Banks a Good Career Path?

You cannot think about a high-paying career without thinking of the banking sector because it is one of the highest-paying jobs in the world. However, you could ask, Is Major Banks a Good Career Path? The simple answer to that question is YES.

However, it would be best to read this article thoroughly till the end so you can understand everything about Major banks, the pros and cons of working in Major banks, and other relevant things about the career path.

What are Major Banks

Major banks are a general name for all banking categories and different types of banks, including investment, commercial, and consumer or retail banks.

Note: each of the types or categories of banks we have listed above has its unique duty and performs a specific task in ensuring that the finances are being managed, processed, or saved correctly in a state.

Is Major Banks a Good Career Path?

Most definitely, Yes, a career in a Major bank is a good career path because its salary is always attractive, and there are many job opportunities worldwide for young graduates.

According to research and stat, it is said that the banking sector of every state contributes the largest to the country’s total GDP.

With lengthy working hours and a lot of pressure to meet deadlines, it may be challenging and stressful as well, don’t forget that you also need good knowledge of Math and Statistics.

How Many Jobs are Available in Major Banks

Skills and Requirements Needed in the Major Banks Career Path

Since it has to do with finance, it should come to your mind that mathematics is the first thing you need to be good at before pursuing a job in the banking sector. However, below are also some skills and requirements required for the Major bank sector.

  • The ability to solve complex problems
  • Have good knowledge of financial products,
  • Excellent communication skills,
  • Ability to work with fellow team members
  • Excellent analytical and problem-solving abilities,
  • Have a basic understanding of accounting and economic principles
  • Controlling stress
  • Analytical capabilities
  • A degree in finance, economics, accounting, marketing, or management is also required.

How Many Jobs are Available in Major Banks

Two million twenty-seven thousand six hundred sixty-seven people are employed in the commercial banking sector as of July 2022. Employment in commercial banking will increase by 4.7% in 2022. Commercial banking jobs grew by 0.9 percent between 2017 and 2022.

How much do Major Banks Jobs Pay?

The yearly remuneration for major banks’ staff is $67,691, which is higher than the US average earnings. There is a significant gap between the typical lowest annual wage and the maximum compensation in this sector, which are $23,000 and $138,000, respectively.

 Top 10 Highest Paying Jobs in the Major Banks Career Path

Accountant and Auditors – Average Pay: $77,250

Accountants and auditors are in charge of creating, reviewing, and maintaining financial records and financial reports. A bachelor’s degree is the minimum educational requirement.

Trader in equity

Equity traders are those who aid in the buying and selling a company’s shares—earn more than the highest-paid staff members of the major banks.

Equity traders are in charge of buying and selling bonds, commodities, stocks, and several other financial instruments. They might carry out their work remotely using computers, on an exchange’s trading floor (like the one at the New York Stock Exchange), or in the trading room of a brokerage firm.

Mortgage Advisor

You must guide prospective homeowners through the mortgage application procedure in your capacity as a mortgage advisor.

The person in charge of gathering and submitting the necessary documents for processing, underwriting, and closing, creating an entire file to track the mortgage loan and inputting mortgage requests into the software to facilitate the mortgage loan origination process. It is possible to travel and be present for every home loan closing.

Chief Financial Officer- Pays $140,000

One of the highest positions you may hold in the banking industry is a chief financial officer. You will be in charge of the bank’s overall financial operations. When you have extensive knowledge of finance and the stock market and strong managerial and decision-making skills, you typically advance to the position of a chief financial officer after several years of experience in the finance industry.

Budget Analyst – $79,940 per year

Major banks require a budget analyst to advise the businesses they manage on how to optimize their budgets to reduce costs while maximizing earnings. To be a budget analyst, one must have at least a bachelor’s degree and a thorough knowledge of corporate finance.

Branch Manager – $61,420 per year

The majority of large banks have hundreds of branches spread out across the nation, and each location requires a branch manager to oversee that branch’s management and financial facets. As a result, it is a position of authority and great responsibility.

Asset managers

As an asset administrator, you should be aware that managing high-net-worth client portfolios is one of the most rewarding occupations at major banks.

Asset management firms trade, manage and watch over their clients’ investments like bonds, cash, stocks, commodities, precious metals, and real estate. They assist clients with asset purchases, monitoring, negotiating, and developing strategies to boost revenues, the value of assets, and profit.

Portfolio Manager- $90,800 per year

To manage the funds of an organization or a private customer to get the best returns on the investment, a portfolio manager must have a thorough understanding of the economic market.

Good portfolio managers are continuously in demand from major investment banks. The need for tech-savvy portfolio managers is growing as bitcoin, NFTs, etc., are becoming more popular.

Loan Officers – $63,380 per year

What a loan officer does is common knowledge. They carefully examine each loan application, evaluate it, and then decide whether to approve it or suggest it be approved. In banks, the loan officer position is essential.

Fixed Analyst of Income

Fixed-income analysts evaluate the underlying assets’ value and provide investment recommendations to ascertain their value.

Top 7 Major Banks in the U.S.

  1. JPMorgan Chase – $488.47 billion in market capitalization and $3.31 trillion in total assets.
  2. Bank of America-  $325.33 billion in market capitalization and $2.52 trillion in total assets.
  3. Citigroup –  market cap of $123.94 billion.
  4. Wells Fargo –  market cap of $197 billion and total assets of $1.78 trillion.
  5. Goldman Sachs – market cap of $100.7 billion.
  6. Morgan Stanley – market cap of $182 billion.
  7. Charles Schwab Corporation –  market cap of $105.62 billion.

Pros and Cons of Major Banks Career


  1. Most employees at big banks pay more in terms of compensation/salary and benefits than similar jobs in other industries.
  2. Because there are so many jobs accessible at various levels, there are many opportunities to advance your career and land a higher position.
  3. A career in a major bank is respected and could lead to more job satisfaction for you.
  4. Commercial banks have been around for a very long time and will continue to expand and change for a very long time to come, making a career in one of the big banks a stable one.
  5. Dealing with many people during your work at a major bank will make it simpler for you to progress professionally and socially.


  1. Being surrounded by mountains of paperwork daily while working in a bank can be tiresome for some.
  2. There is an excessive demand for positions in major banks. Thus, being hired may require a lot of work.
  3. Due to administrative concerns, the corporate ladder of major banks can be challenging to ascend.
  4. Regularly dealing with people can get draining, mainly if the clients are uncooperative.


If you had carefully read this article till this point, you would have gotten an answer to the question Is Major Banks a good career path? However, just in case you did, a career in the Major Banks sector is a good and lucrative career path anybody good in mathematics can go for.

We have also tried to list and explain 10 of the highest-paying jobs available in Major banks and the pros and cons of working in this sector.

You can use the comment section below if you still have any questions regarding this post. We are always active in response and helping you out.