Is Major Banks A Good Career Path: Salary, Benefits, Scope & Opportunities [Choosing Tips]

Is Major Banks A Good Career Path: Salary, Benefits, Scope & Opportunities [Choosing Tips]

Major banks are one of the most in-demand career paths in the workforce today. With salaries that can exceed those of many other industries, it’s no wonder why so many people are looking into a career in banking.

However, before you make the decision to pursue a career in banking, it’s important to consider whether or not major banks are actually a good path for you. In this article, we’ll explore some key factors to consider when deciding whether or not major banks are right for you.

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4 Reasons Why a Career in Banking Might be Right for You

As you think about a career in banking, are you wondering whether it’s a good choice or not? After all, the banking sector has seen a lot of changes in recent years. Below are some of the vital things to consider.

1: Banking is a Stable Industry

In spite of the recent economic crisis, banks continue to thrive. In fact, it’s never been more appropriate. If you’re looking for a stable career, banking is a great option.

2: Banking is a Well-Paid Industry

If you’re seeking a high salary, banking might be a good choice. Bankers typically earn six-figure incomes, and the most successful bankers may earn a million in revenue each year.

3: Banking is An Exciting Industry

Since there is always a lot happening in the world of banking, it can provide an exciting, fast-paced career. Dealing with clients, closing deals, and finding new things are all things that constantly happen in the world of banking.

4: Opportunities

Many bank career options exist. Tellers, loan officers, and investment bankers endure a high number of different positions that suit their employees’ skills and interests. This can allow workers to find a position that is best for them. However, banking can be a suitable profession if what you want is a stable income.

So, Is Major Banks a Good Career Path?

There is no one-size-fits-all answer to this question, as the best career path for you depends on your individual skills and interests. However, major banks can be a good career choice for those who are interested in finance and want to work in a highly competitive, fast-paced environment. 

Banks offer a variety of career opportunities, from entry-level jobs to senior management positions. And while the industry is highly regulated, it also offers many opportunities for innovation and creativity.

What Are Some Examples of A Career in Major Banks?

Major banks are some of the largest and most influential financial institutions in the world. As such, they offer a variety of positions for those with appropriate experience and expertise. For example, here are a couple of examples of what might be available.

  • Investment Banking: Providing guidance on issuing new equity or debt, as well as providing advice on mergers and acquisitions.
  • Commercial Banking: Offering products and services such as loans and financing to businesses and organizations.
  • Retail Banking: Providing individual customers with services like savings accounts, checking accounts, and mortgages.
  • Asset Management: Assisting individuals and companies in increasing their financial resources by investing their money in stocks, bonds, bonds, and other securities.
  • Private Banking: Providing financial services to high-net-worth individuals and families.
  • Compliance: It is important that the bank complies with all applicable laws and regulations.

Who Are The Best Companies To Work For In The Major Banks Industry?

The banking industry can be quite competitive, and employees are often under pressure to complete their duties. As a result, it s advantageous to work for a company that values its employees and offers a supportive workplace. Here are the best organizations to work for in the banking sector.

Goldman Sachs

Goldman Sachs is one of the world’s top investment banks, and it also serves as a great place for people to work. Employees are offered a competitive salary and benefits package, and the company is known for its employee development initiatives.

J.P. Morgan

J.P. Morgan is another of the top investment banking companies, it also provides an excellent work environment for its employees. J.P. Morgan’s compensation package is also very fair and beneficial for its employees.


Citigroup is a huge bank with operations in more than 100 countries. It operates in a competitive industry and delivers a good salary and benefits package to its employees.


HSBC is an international company operating in 70 countries. The company operates a very large and competitive salary and benefits program among its workers, and it ensures their development.

15 Best Paying Jobs in Major Banks Career Path in 2022

1- Chief Financial Officer (Average Annual Salary: $144,000)

The position of Chief Financial Officer (CFO) is one of the most important in any company, but especially so in a bank. The CFO is responsible for all financial matters, from creating and monitoring budgets to ensuring compliance with financial regulations. This is a high-pressure and one of the best-paying jobs in major banks that requires a combination of financial expertise and business acumen.

The CFO of a major bank is responsible for a large budget and a complex organization. He or she must be able to make sound decisions quickly, while also maintaining a strong focus on the bottom line. The CFO must also be able to work cooperatively with other executives, as well as with government regulators.

The CFO job is not for the faint of heart; it requires hard work and long hours. But it can also be very rewarding, as the CFO is responsible for ensuring the financial health of the company.

2- Financial Manager (Average Annual Salary: $118,000)

A financial manager is a key position in any major bank. The role of the financial manager is to ensure that the bank’s assets are properly managed and that the necessary financial reports are prepared for senior management and the board of directors. In addition, the financial manager may be responsible for raising capital for the bank and for investing its funds in various securities and other investments.

The responsibilities of a financial manager can be quite demanding, but the job can also be very rewarding. A successful financial manager can make a significant contribution to the success of a major bank and can earn a good salary and benefits.

3- Portfolio Manager (Average Annual Salary: $126,000)

A portfolio manager is a key role in any major bank. The portfolio manager is responsible for the overall management of the bank’s investment portfolio. This includes making decisions about which investments to make, and when and how to sell investments. The portfolio manager must also keep track of changes in the market and make adjustments to the investment portfolio as needed.

Working as a portfolio manager in a major bank can be a very challenging but also very rewarding career. The job requires a high level of expertise in investment management, as well as strong business analyst and decision-making skills. It is also important to be able to work well under pressure and make quick decisions when needed.

4- Financial Analyst (Average Annual Salary: $112,000)

The financial analyst job in a major bank is a very important position. The financial analyst is responsible for analyzing the financial stability of the bank and providing recommendations to management on how to improve the bank’s financial standing. In addition, the financial analyst is responsible for creating reports and forecasts that will help management make informed decisions about the bank’s future. This is a highly responsible position that requires a great deal of knowledge and experience in the field of finance.

5- Budget Analyst (Average Annual Salary: $58,000)

In this role, you would be responsible for creating and managing the bank’s budget. This includes forecasting future expenses and revenue, as well as analyzing past performance.

If you are interested in this career, it is important to have strong math skills and experience with Excel. It is also helpful to know accounting principles. As a budget analyst, you would likely work in a team environment and report to a manager.

6- Accounting Manager (Average Annual Salary: $82,000)

The Accounting Manager’s job in major banks is a critical role in the financial organization. The manager is responsible for overseeing all aspects of accounting, from bookkeeping to preparing financial statements. This position also requires developing and managing budgets, as well as overseeing the work of accountants and other support staff. To be successful in this role, it is important to have excellent organizational skills, attention to detail, and knowledge of Generally Accepted Accounting Principles (GAAP). Previous experience in banking or financial services is typically required.

7- Accountant or Auditor (Average Annual Salary: $59,000)

There are many opportunities for accountants and auditors in major banks. Key roles include preparing financial reports, assessing risk, ensuring compliance with regulations, and providing advice on financial matters. In addition to these essential duties, accountants and auditors may also be involved in marketing, human resources, and other areas of the bank as needed.

The work can be challenging but also very rewarding. Bank accountants and auditors must have strong analytical skills and be able to work under pressure to meet deadlines.

8- Loan Officer (Average Annual Salary: $44,000)

In most major banks, the Loan Office is a very important part of the company. They are responsible for lending money to individuals and businesses, as well as monitoring and collecting on loans. The Loan Office is also responsible for maintaining good customer relationships, by providing excellent customer service.

The Loan Officer job is a great way to start your career in banking. It can be a very challenging and rewarding position, where you have the opportunity to make a difference in the lives of others. The Loan Office is responsible for one of the most important aspects of banking – lending money. This position is perfect for someone who wants to work in banking, but doesn’t want to deal with customers directly.

9- Assistant Manager (Average Annual Salary: $44,000)

The job of an assistant manager is to look after the day-to-day operations of a branch and report to the manager. They are also responsible for handling customer queries and complaints. If you have experience in handling cash and other banking transactions, then this could be the right job for you. The key skills that are required for this role are good communication skills, problem-solving skills, and attention to detail.

Assistant managers play an important role in the growth of a bank and can expect to receive good career opportunities if they perform well in their roles. Some of the major banks that are hiring assistant managers include ICICI Bank, HDFC Bank, Axis Bank, and Bank of America.

10- Personal Banker (Average Annual Salary: $61,000)

Personal bankers are in high demand at many of the nation’s largest banks. They are typically responsible for providing banking and financial services to customers, with a focus on developing long-term relationships. To qualify for this position, you’ll need at least two years of experience in the retail banking industry. Personal bankers typically earn between $40,000 and $70,000 per year, depending on their level of experience and the bank’s location.

11- Security Guard (Average Annual Salary: $30,000)

Security Guard job in major banks is a highly sought-after position. The hours are long, the work is demanding, and the stress level is high, but the potential for growth and stability is unparalleled.

A security guard in a major bank can expect to earn a decent salary with benefits and has the opportunity for advancement if they prove themselves to be a valuable member of the team.

The primary responsibility of a security guard is to protect the people and property inside the bank. This includes monitoring cameras, screening customers and employees, and responding to emergencies.

 A security guard in a major bank must be able to handle stress and work under pressure. They must also be able to stay calm in dangerous situations and be able to think on their feet.

12- Teller (Average Annual Salary: $31,000)

Teller jobs used to be a common sight in most banks, but their numbers have decreased in recent years. This is largely due to the development of online banking and the corresponding decrease in the need for tellers. However, some major banks are still hiring tellers, so if you’re interested in this line of work, it’s worth checking out some of the larger banks in your area.

The job of a teller is essentially to handle customer transactions. You’ll be responsible for taking deposits, issuing withdrawals, and processing other routine financial transactions. To be successful in this role, you’ll need to be able to efficiently and accurately handle multiple tasks simultaneously.

13- Fraud Analyst (Average Annual Salary: $53,000)

The job of a fraud analyst is to prevent and detect criminal activity within a financial institution. They work with other departments to review transactions for any suspicious activity. This may include reviewing account activity, wire transfers, or check orders. Fraud analysts also work with law enforcement to investigate any criminal activity that has been identified.

A career as a fraud analyst can be very rewarding. You will have the opportunity to help protect your company from criminal activity and you may also be able to help catch criminals. There are many opportunities for advancement within this field, so it can be a great career choice for someone who wants to make a difference.

14- Notary Public (Average Annual Salary: $61,000)

A notary public is a public servant who witnesses the signing of important documents and administers oaths. They are often employed by banks to notarize documents such as loan applications and mortgage contracts. The role of a notary public is to protect the interests of both the bank and the customer. They ensure that all parties involved in a transaction have signed the document willingly and that they understand its contents. Notarizing a document assures both the bank and the customer that the contract has been entered lawfully.

15- Assistant Underwriter (Average Annual Salary: $46,874)

Assistant underwriters are in charge of reviewing and analyzing the financial stability of loan applicants. They work with loan officers to identify and mitigate risks associated with lending money. The assistant underwriter is also responsible for communicating with customers and providing support to the loan officer.

The average salary for an assistant underwriter is $47,000 per year. Assistant underwriters typically have a bachelor’s degree in business or finance. Major banks are always looking for qualified candidates to fill this position.

Top Universities To Start Your Career in Major Banks

If you’re not interested in an MBA and want to enter the banking industry by completing a bachelor’s degree, here is a list of universities that can assist you.

  • Illinois Northwestern University – Evanston, Illinois has a number of excellent financial institutions searching for talented individuals in the fields of financial management, management, or accounting. Northern Bank hires a number of candidates with those studies.
  • Indiana University- Bloomington, In this university, a four-year program in banking and finance is offered.
  • The University of Houston – Houston, The University of Texas at Austin’s finance department teaches students about the global economy, its impact on domestic business, and how business is conducted in the industry. Students will additionally gain an understanding of how trade is conducted.
  • UC Irvine – Irvine, Graduates with a degree in accounting or finance can attain entry-level positions within the banking industry. Most banks are looking for graduates with experience, but students who have completed their coursework will be considered as well.
  • Penn State University- State College, This school’s business school offers a bachelor’s degree in business administration with a concentration in finance.
  • University of Wisconsin- Madison, Students will learn the workings of various industries through many courses from which to choose at this school’s business school. The students will have the opportunity to explore new markets through their studies.

Frequently Asked Questions About Major Bank’s Career Path

Is finance a good career path?

Finance is a popular career path. According to the Bureau of Labor Statistics, there are projected to be over 0.67 million jobs in finance by 2024. Finance careers offer many opportunities for growth and progression.

They can lead to positions in investment banking, accounting, and financial consulting. If you want to pursue a career in finance, be sure to have a strong math foundation and excellent problem-solving skills.

Is investment bankers/brokers/service a good career path?

There is no definite answer when it comes to whether or not investment bankers are really good career paths. Some people feel that being an investment banker involves a lot of hard work and long hours, while others believe that a career can be quite lucrative. Ultimately, the best way to determine whether investment bankers are a good choice for you is to take a look at your own interests and skillset and see if this type of career would fit well with them.

What are the career opportunities in the banking sector?

The banking sector is one of the most important and influential industries in the world. A career in banking can be extremely rewarding, both financially and professionally. There are a variety of career opportunities available in the banking sector, including: 

1. Accountants

2. Analysts

3. Bank Tellers

4. Branch Managers

5. Credit Officers

6. Loan Officers

7. Operations Managers

What is the salary range for positions in the banking industry?

It can vary greatly depending on the level of position and the bank itself. However, the average salary for a bank teller is $24,000 per year, while a branch manager can expect to earn an average of $56,000 annually. Generally speaking, those in more senior positions within banking can expect to earn higher salaries than those in lower-level roles.

Which are the best countries to work in major banks?

There are a few different rankings that compare the best countries to work in major banks. One of these is the Global Banking and Finance Review, which ranks Singapore as the number one country to work in a bank. The United States comes in second, followed by Switzerland and the United Kingdom.

What are the benefits of working in major banks?

There are many benefits of working in a major bank. One such benefit is the opportunity to work with some of the best and brightest minds in the industry. The caliber of employees in a major bank is typically quite high, and this can provide employees with an excellent learning opportunity. 

Additionally, major banks often have great benefits packages, which can include things like health insurance, retirement savings plans, and paid time off. These benefits can be extremely valuable for employees and can help them to maintain a healthy work-life balance.

What are the requirements for a commercial bank career?

To work in a commercial bank, you must have a college degree and pass a series of exams. Most commercial banks require their employees to have a college degree. Many banks prefer candidates with degrees in business, economics, or accounting. However, some banks will hire candidates with degrees in other subjects if they have experience in the banking industry.

In addition to having a college degree, you must pass a series of exams to work in a commercial bank. The most common exam is the Series 7 exam administered by the Financial Industry Regulatory Authority (FINRA). This exam tests your knowledge of investment products and markets.

Which bank is best for career growth? 

There are many factors to consider when making the decision of which bank is best for career growth. The first factor to consider is the size of the bank. Large banks offer more opportunities for advancement and typically have more resources available for employee development. Another factor to consider is the location of the bank. Banks in large metropolitan areas tend to offer more opportunities for career growth than banks in smaller towns. Finally, you should research the different banks to see which one offers the best employee development programs.

Final Words

In my opinion, I believe that major banks are a good career path. They offer a lot of opportunities for growth, and the pay is usually very good. Plus, the hours are usually reasonable. However, it’s important to remember that not all major banks are equal. You should research which one is the best fit for you before you make a decision.

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By Alex

Alex is one of the industry's most highly-regarded career experts with many years of experience in career development, human resources, job hunting strategies, workplace success, and hiring. Alex is the founder of also writes about job searching and careers for The Business Beaster.