Top 10 Highest Paying Banks in USA 2022

Filed in Articles by on April 4, 2022 0 Comments
Highest Paying Banks in USA
Building and sign bank (done in 3d)

Building a career in the banking industry is the desire of many, due to numerous reasons. It is open to all, bankers are well-respected and seen as prestigious individuals, bank employees are provided with lots of exposure due to the nature of the job, they undergo regular training for self-development and above all other reasons, and the banking industry is one of the industries that pay highest.

Salaries of Bankers in USA

We have received numerous requests from our audience yearning for reliable information as to how much bankers earn in USA. It is important to know that the pay of bankers varies considerably for so many reasons.

The amount paid to bankers in USA varies based on the position occupied, qualification, years of experience, and status of employment. An entry-level banker does not earn the same as a banker in a managerial position. Furthermore, salaries differ drastically between different banks and banking jobs.

According to salaryexplorer.com survey, a person working in banking in United States typically earns around 103,000 USD per year. Salaries range from 32,400 USD (lowest average) to 211,000 USD (highest average, actual maximum salary is higher).

ALSO READ: 10 Instant Loan Apps That Let You Borrow Money in USA

This is the average yearly salary including housing, transport, and other benefits. Salaries vary drastically between different Banking careers.

Be it as it may, for individuals considering a banking career in USA, below are top 10 highest paying banks in USA.

Highest Paying Banks in USA

1. Gold Sach Bank

  • The average base salary for vice presidents: $165,424
  • The average base salary for financial analysts: $74,958

The Goldman Sachs Group, Incorporation is an American multinational investment bank and financial services company with its headquarters in New York City. It is one of the largest investment banks in the world and is a primary dealer in the United States Treasury security market. It offers services in investment management, securities, asset management, prime brokerage, and securities underwriting. Its revenue in 2019 was over 92 million dollars with a staff strength of over 38,000. An average worker in Gold Sach was paid US$135,165 in 2017. The company is ranked 62nd on the Fortune 500 list of the largest United States corporations by total revenue. Its services include Asset management, Commercial banking, Commodities, Investment banking, Investment management, Mutual funds and Prime brokerage

2. Bank of America (BofA)

  • The average base salary for vice presidents: $110,267
  • The average base salary for financial analysts: $72,896

This is the second-highest paying and largest bank in the United States. The Bank of America Corporation is another American multinational investment bank and financial services company headquartered in Charlotte, with central hubs in New York City, London, Hong Kong, Minneapolis, and Toronto. It was founded in San Francisco through Nations Bank’s acquisition of Bank of America in 1998. BofA is the ninth-largest financial services company in the world. Its revenue in 2018 was over US$91.24 billion with staff strength of over 204,489 in 2019. BofA services include Consumer banking, corporate banking, insurance, investment banking, mortgage loans, private banking, private equity, wealth management and credit cards

3. American Express Amex

  • The average base salary for vice presidents: $156,760
  • The average base salary for financial analysts: $67,670

The American Express Company is an American multinational financial services corporation headquartered in New York City founded in the year 1830. The company is best known for its charge card, credit card, and traveller’s cheque businesses. In 2017, Forbes named American Express as the 23rd most valuable brand in the world.  Its revenue in 2019 was over US$43.556 billion with a staff strength of over 59,000 in 2018.

4. Capital One Financial Corporation

  • The average base salary for vice presidents: $151,853
  • The average base salary for financial analysts: $70,091

Capital One Financial Corporation is an American bank holding company with services ranging from credit cards, auto loans, banking, and savings accounts, headquartered in McLean, Virginia. It was founded in 1994 by Richard Fairbank and Nigel Morris. Capital One founded the mass marketing of credit cards in the 1990s. Its revenue in 2018 was over US$28.076 billion with a staff strength of over 48,800 in 2019.

5. Morgan Stanley

  • The average base salary for vice presidents: $141,439
  • The average base salary for financial analysts: $62,183

Morgan Stanley is also situated in New York City. It is an investment bank and financial services company which is currently a merger of the original Morgan Stanley and Dean Witter Discover & Co. in 1997.  Dean Witter Discover & Co is an American Stock Brokerage and Securities firm. It was originally founded by Henry Sturgis Morgan, Harold Stanley, Dean G. Witter and Richard S. Reynolds, Jr. in 1935. Its major services include Investment Banking, Sales and trading, Commodities, Prime brokerage, Wealth Management, Investment management. Morgan Stanley’s revenue in 2018 was $40.107 billion with staff strength of over 60,800 in 2018.

6. Wells Fargo

  • The average base salary for vice presidents: $124,540
  • The average base salary for financial analysts: $60,586

This multinational Bank founded in 1832 by two business tycoons- Henry Wells and William Fargo is headquartered in San Francisco, California. It is the world’s fourth-largest bank by market capitalization and the fourth largest bank in the US by total assets. It offers a wide range of services including but not limited to Asset management, Credit cards, Equities trading, Futures & options trading, Risk management, Underwriting, Wealth management etc.  Wells Fargo’s revenue in 2019 was US$85.063 billion with staff strength of over 258,700 in 2018.

7. JPMorgan Chase

  • The average base salary for vice presidents: $122,073
  • The average base salary for financial analysts: $66,770

Headquartered in New York City, JPMorgan Chase is one of the most popular banks and largest banks in the US. In fact, it is the 6th largest bank in the world. It was founded by Aaron Burr (Politician and Lawyer) John Pierpont Morgan (Banker and Financier) in 2000. Its services according to its website are countless from wire transfer to mortgage lending, private equity, pension funds etc. JPMorgan Chase revenue in 2019 was US$15.627 billion with a staff strength of over 256,981 in 2019.

8. Citigroup

  • The average base salary for vice presidents: $120,889
  • The average base salary for financial analysts: $63,500

Still, in New York City, Citigroup was formed by the merger of banking giant Citicorp and financial conglomerate Travelers Group in 1998. Citigroup is ranked 3rd on the list of largest banks in the United States alongside JBMorgan Chase and Bank of America. Its services include Credit cards, Retail banking, Commercial banking, Investment banking, Private banking and financial analysis. Citigroup’s revenue in 2018 was US$72.854 billion with staff strength of over 204,000 in 2018.

9. The Bank of New York Mellon Corporation

  • The average base salary for vice presidents: $116,659
  • The average base salary for financial analysts: n/a

The Bank of New York Mellon Corporation is one of the oldest banks in the world because it was founded in 1784 by Alexander Hamilton, Aaron Burr and Thomas Mellon. It is a merger of The Bank of New York and Mellon Financial Corporation. BNY Mellon is currently the world’s largest custodian bank and asset servicing company. The company’s product and services include Corporate Banking, Investment Banking, Global wealth management, financial analysis and Private equity. BNY Mellon’s revenue in 2018 was US$ 16.39 billion with staff strength of over 51,300 in 2018.

10. State Street Corporation

  • The average base salary for vice presidents: $110,618
  • The average base salary for financial analysts: n/a

Boston is the headquarters of State Street Corporation. Founded in 1792, it is the second-oldest continually operating United States bank. Its services include investment management, stock trading, foreign exchange market, custodian bank and securities lending.  State Street Corporation’s revenue in 2018 was US$11.982 billion with staff strength of over 40,142 in 2018.

This is the list of highest paying banks in USA. However, it doesn’t include all banks. We have selected the 10 best financial institutions, but you can search for other places to work for and enjoy earning a good salary.

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Source: Sabonews.org

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