TOP 5 HIGHEST PAID JOBS IN THE BANKING SECTOR
There is no denying the fact that the banking sector has become the backbone of the contemporaryeconomyanditisvitalforthedevelopmentofbusinesses,countries,andthe well-being of people. Plenty of highest-paid jobs are offered in the banking sector and therefore,manypeoplehaveakeeninterestinhavingaprosperouscareerinbanking. The opportunities are available for people working in this sector range anywhere from entrylevel to higher upper management. Due to prevailing uncertain economic and market conditions,peopletendtogoforthatsourceofincomethatisconsistentandareliable,and ofcourse,thehighestpaidoneasevidentinJobsBFSI.
There are plenty of services and financial products available for consumers by credit unionsandbanks.Thebankingsectorgivesemploymenttopeoplewithinbanksandcredit unionsmanagemoneytransactionseveryday.Thesepeoplearegivenaccesstoaccountsof customersandmanymore. Furthermore, peoplenowdemandsomethingmorefromtheir jobs apart from a handsome salary and privileges. This includes but is not limited to training and development, incumbent skills to be used in different areas of the banking sector, and opportunities to grow. In addition to this, the question here arises about why jobsinthebankingsectorareboomingandwhatarethehighestpaidjobsinthissector.
It is important to establish that with the financial crises of the late 2000s, careers in the bank went into a severe slump, making it very difficult and sometimes impossible to find employment in this industry. The worst of the crisis has passed and therefore, banks and otherbankinginstitutionswillbedoing“catch-up”hiring,tomakeupforyearswhenthey did not hire employees. Therefore, it can be said that the next few years look extremely favorableforthefield.
This blog of jobs BFSI aims to unveil the top 5 highest paid jobs in the banking sector-
Chief Financial Officer:
Tomanagethefinancialoperationsofthebank,financialplanning,andgrowth, theroleof the chief financial officer cannot be denied. Chief financial officers are responsible for the evaluationofassetsandliabilities,managementofcashflow,andmostimportantly,leading a team of analysts. To win the laurels in this field, extensive and critical knowledge of financial markets, market trends, stock market, and other relevant information is inevitable.
Theaverageexpectedsalaryofachieffinancialofficerinthebankingsectoris139,501USD perannum.Theminimumeducationrequirementforachieffinancialofficerinthebanking sector is Bachelor’s degree in business or a relevant field. Moreover, CFO is also a very prominent position in national and international enterprises but experience matters a lot forthisposition.
Financial Manager:
In the banking sector, responsibilities of preparing financial reports and planning longtermandshort-termfinancialpoliciesaregiventothefinancialmanager.Asmentionedin Jobs BFSI, they also make incumbent investment decisions for the sake of expanding and maximizingprofitmargin.
Lastly,yetimportantly,theyalsosupervisefinancialanalystsandmakeimportantfinancial decisions for the company. The average salary of a financial manager is approximately 134,180 USD but the same as a chief financial officer, experience is also important in this field.Tobeafinancialmanager,agraduatedegreeinbusiness,accounting,oreconomicsis required.
Portfolio Manager:
As the banking sector works solely on profit-making motives and therefore, effective investment decisions are important to be made. Portfolio managers determine how the money or funds of clients and banks should be invested properly. To do this, critical knowledge of market prices, stocks, earnings, and accounting principles is necessary. The averageexpectedsalaryofaportfoliomanagerisapproximately89,957USD.
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