Banking and Finance salaries

People were endowed with different skills and talents. Some were made to play the piano. Some have great communication skills and some are able to learn a different language in just a matter of time just as if they were trained while they were young. For some, it’s reveling in the fact that they can use their mathematical and analytical skills in the banking and finance sector. Many people enroll in courses geared towards this sector because this has presented a great opportunity to earn above average rates. If you find that mathematics subjects are easy for you, here are some of the jobs that can earn you better wages compared to other types of jobs in the future.

Can Counting Other People’s Money Increase Your Equity ?

Bank Manager

As the title implies, the bank manager is in charge of the operations of a banking institution. They supervise the work of other employees in the bank that may include the tellers and loan officers.  Most bank managers have taken up courses related to finance, economics, business or accounting. Many bank managers started out in entry-level positions and worked their way up, receiving promotions because of outstanding performance. It is nearly impossible to get this job right out of college. Banking institutions usually require an experience of at least 5 years in related field before being awarded this position. While it could take you years before you can become a bank manager, the pay rates are worth it with CareerBuilder saying that the national average wage in the US is $77,023. Glassdoor says that salaries for bank managers ranges from $42,000 to $93,000 a year.

Accountant

There are several types of accountants but these are generally classified into 4 major categories. These are public accountants, management accountants, government accountant and internal auditors. Some of the basic tasks of accountants are preparing financial records, verifying the accuracy of financial information, computing the right taxes that should be declared by an individual or a business entity and helping these find ways to minimize expenses. In order to become one, you will at least need a bachelor’s degree related to accounting. Licensure will be required in most countries. The median wage earned by accountant and auditors in 2010 is $61,690 per year or $29.66 an hour according to Bureau of Labor Statistics (BLS). Read more about accountant salary.

Financial Advisor

A financial advisor is sometimes also known as a financial planner.  This person helps people in matters concerning their finances. This could cover several aspects of personal finance such as investing in stocks, insurance or real estate. Job opportunities may be open in banking institutions and brokerage firms. For those who have gained ample experience, there is now an opportunity to offer your services as a personal consultant or may pave way to open up your own consulting firm. While there is no specific educational requirement for this particular type of job, many employers give preference to individuals who have a bachelor’s degree. BLS says that personal financial advisors have a median salary of $64,750 per annum or an equivalent rate of $31.13 an hour in 2010.

Banking and Finance sector salaries

Banking and Finance salaries

Financial Analyst

A job as a financial analyst will require one to at least have a bachelor’s degree. Although a master’s degree is not always required, many employers nowadays take this as a form of competency on your part. Courses that can lead to this job are business, finance or related field. Depending on area of practice, licensure may be required such as in the legal advising or selling stocks. Financial analysts work in businesses, helping these create better financial decisions concerning its investments such as stock and bonds. According to BLS, the median salary earned by financial analysts in 2010 is $74,350 a year or $35.75 per hour.

Conclusion on salaries for those working in financial sector

If you have been given the gift of analytical and mathematical skills, then you are very lucky since there are many jobs in the banking and finance sector that could let you earn above average rates such as the ones mentioned above. The beauty in this is that it would only normally require you to get a bachelor’s degree which could be obtained in at least 4 years unlike studying medicine or law.
Here is the complete list of banking-finance salaries:
Actuary salary
Bank branch manager salary
Bank manager salary
Bank teller salary
Chartered financial analyst salary
Credit analyst salary
Economist salary
Financial advisor salary
Financial analyst salary
Senior financial analyst salary
Tax preparer salary

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