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Investment banking is a lucrative field that requires strong analytical skills, attention to detail and the ability to work under pressure. It’s a competitive industry with a remarkably high earnings potential — employment marketplace ZipRecruiter reports annual salaries as high as $301,000 for top earners in the sector. These jobs require a bachelor’s degree at minimum, usually within the business field, but an MBA or Master’s level of certification may also be necessary to find a suitable position.
Read on to learn about some of the main roles in the investment banking world, as well as the role and average daily salary of investment bankers.
Our Top 7 Picks for the Best-Paying Jobs in Investment Banking
An equity trader is a financial professional who buys and sells stocks and other securities on behalf of clients or their investment portfolios. Equity traders typically work for investment banks, brokerage firms or hedge funds and may specialize in long-term or short-term investments. This role requires strong analytical skills, the ability to make quick and informed decisions and the ability to manage risk effectively. According to the U.S. Bureau of Labor Statistics (BLS), the average annual wage for equity traders was $69,210 in 2021.
The equity trading industry can be highly competitive and stressful. Traders often work long hours. However, the rewards can be significant for those who succeed in this field. Equity traders who consistently generate profits for their clients or portfolios can command high salaries and bonuses.
Financial consultants provide advice and guidance on investments, financial planning and tax planning to individuals and businesses. They may work for financial services firms, accounting firms or as independent contractors. Financial consultants typically have a background in finance, economics or a related field and may hold professional certifications such as a Certified Financial Planner (CFP) designation.
The BLS estimates that the average annual wage for personal financial consultants was $94,170 in 2021. Keep in mind that this figure may vary depending on factors such as the consultant’s level of experience, the firm they work for and their location.
Investment executives manage investments on behalf of clients or their portfolios. They may work for investment banks, asset management firms, hedge funds or other financial institutions. The role of an investment executive involves researching and analyzing potential investments, making informed decisions about which assets to buy and sell and managing risk.
Investment executives may specialize in a particular asset class, such as stocks, bonds or real estate, or may have a more general focus. According to the BLS, the average annual wage for investment executives was $131,710 in 2021.
Loan officers help individuals and businesses obtain loans from banks, credit unions and other financial institutions. They assess loan applications, evaluate the creditworthiness of potential borrowers and make recommendations about whether or not to approve a loan. Loan officers may work for banks, mortgage companies or other financial services firms and may specialize in a particular type of loan, such as a home, auto or business loan.
The BLS estimates that the average annual wage for loan officers was $80,570 as of May 2021. Loan officers who consistently generate a high volume of loan approvals may be eligible for greater salaries and bonuses.
Asset managers oversee investment portfolios on behalf of individuals, institutions or mutual funds. They are responsible for making informed decisions about which assets to buy and sell to generate the best possible return and help clients manage their accounts. Asset managers may work for investment banks, asset management firms or other financial institutions and may specialize in a particular asset class, such as stocks, bonds or real estate.
The average annual salary for asset managers was $131,710 as of May 2021.
Investment bank broker
Investment bank brokers generally work for a large bank and help clients buy and sell securities such as stocks and bonds. They often work with high-net-worth individuals, institutional investors and corporations to help them make informed investment decisions and manage their financial assets. They’re responsible for providing clients with financial analysis and research and recommending investment strategies and products.
The average investment banker salary in the U.S. is difficult to determine, as it can vary significantly based on several factors, such as the individual’s level of education, their experience and the specific investment bank they work for. The average annual wage for investment bank brokers was $93,260 as of May 2021. However, investment bank brokers often earn a significant portion of their income through commissions, which can vary based on the number and size of the transactions they facilitate.
Property and casualty insurance underwriter
Property and casualty insurance underwriters are professionals who evaluate insurance applications and determine the risk of insuring a particular individual or property. They review the information in insurance applications to assess the likelihood of a claim being filed. They then determine the terms and conditions of an insurance policy, including the premium, deductibles and exclusions.
Property and casualty insurance underwriters typically work for insurance companies or brokers and may specialize in insuring specific types of risks, such as auto, home or business insurance. They may also be responsible for maintaining and updating insurance policies and handling claims when filed.
In 2021, the average annual salary for insurance underwriters in the U.S. was $76,390, according to the BLS. It’s also important to note that the insurance underwriter employment rate is projected to decline by 5% from 2020 to 2030 as underwriting tasks are increasingly automated.
Best-Paying Jobs in Investment Banking
In this guide, we’ll explore some of the highest-earning careers in the investment banking/broker/service field and provide information on the skills and qualifications needed to succeed in these roles. Whether you are just starting your career or are an experienced professional looking to advance in the investment industry, this guide will provide valuable insights and information to help you reach your financial and professional goals.
What are investment banker services?
Investment banking services can include everything from raising capital by issuing securities to providing market insights and analysis and even giving advice on mergers and acquisitions (M&A). Investment bankers may also provide services such as underwriting, which involves evaluating the risk of a securities offering and determining the appropriate price and terms for the offering.
Investment bankers can work in various areas within the industry, such as corporate finance, structured finance and sales and trading. Their main goal is to help clients achieve their financial objectives by offering expert advice and financial services.
Types of investment banking jobs
There are various types of investment banking jobs, each with its own set of responsibilities and requirements. Typical investment banking positions include:
- Sales and trading: Sales and trading professionals buy and sell securities on behalf of clients or the bank’s trading desks.
- Research analysis: Research analysts provide in-depth analysis and insights on specific industries, sectors or companies to help inform investment decisions.
- Private equity: Private equity professionals specialize in acquiring and managing privately held companies, often to improve their operations and increase their value.
- Asset management: Asset managers oversee investment portfolios on behalf of individuals, institutions or investment funds and are responsible for making informed decisions about which assets to buy and sell to generate the best possible returns for their clients.
Requirements for an investment banking job
Investment banking jobs typically require a solid educational background in finance, economics or a related field. Many investment banks prefer to hire candidates who have completed a master’s or MBA degree, although a bachelor’s degree may be sufficient for some entry-level positions. Investment banking positions also require strong analytical and problem-solving skills, as well as excellent communication and interpersonal abilities.
The ability to work under tight deadlines and handle high stress levels is also important. Many investment banks look for candidates with prior experience in finance, either through internships or previous work experience.
How to find the highest-paying investment banking jobs
Here are a few ways to find the highest-paying investment banking jobs:
- Research the top investment banks and their salary ranges for different positions. These banks often pay the highest salaries and bonuses due to the competitive nature of their industry.
- Consider obtaining additional education or certifications, such as a master’s degree in finance or a CFA (Chartered Financial Analyst) designation, as these can often lead to higher-paying jobs in the financial industry.
- Network with industry professionals and attend job fairs and career events to learn about high-paying job opportunities. It’s often easier to secure a higher-paying position through personal connections or referrals.
Job search sites such as LinkedIn or ZipRecruiter can help you find the highest-paying jobs and offer you help when finding out how much a job pays.
Best-Paying Investment Bankers/Brokers/Service Jobs FAQ
How many investment banking jobs are available?
It’s challenging to provide the exact number of investment banking jobs currently available, as the number of openings fluctuates over time. The availability of investment banking positions can vary depending on several factors, including the specific location, the size and type of bank and the current state of the economy.
As of May 2022, there were 115,365 people employed in the Investment Banking & Securities Dealing industry in the U.S. according to IBISWorld.
Can you get an investment banking job with no experience?
It can be difficult to get an investment banking job without any experience in the field. Investment banks typically look for candidates with a strong educational background in finance, economics or a related field and some past experience in the finance sector.
That being said, it is possible to break into the investment banking industry without experience, particularly if you have a strong educational background and a proven track record of achievement in other areas. Many investment banks offer internship programs through which you can sometimes secure a permanent position in the industry.
How hard is it to get an investment banking job?
Getting an investment banking job can be challenging because of the competitive nature of the industry. Investment banks typically receive many applications for available positions, and competition can be especially fierce for entry-level positions.
Is investment banking a good career path?
Investment banking can be a lucrative and challenging career path for individuals with strong analytical skills and financial expertise. However, the job can be highly competitive, and the fast-paced nature of the industry may not be suitable for everyone. It requires a high level of dedication, long hours and the ability to work well under pressure.
Ultimately, whether investment banking is a good career path depends on your interests, skills and goals.
How We Chose the Best-Paying Investment Banking Jobs
When evaluating the best-paying investment banker, broker and service jobs, we considered several factors. The first one was the base salary, which we got from the U.S. Bureau of Labor Statistics, and any additional bonuses or incentives offered by companies. It was also important to consider the potential for advancement and the overall growth opportunities within the organization. The industry and specific role within the company were important factors as well, since certain industries and positions tend to pay higher salaries.
Summary of Money’s Best Paying Investment Banking Jobs
Investment banker, investment broker and financial services professional are some of the highest-paying positions in the finance industry. These roles typically require a bachelor’s degree in a related field, such as finance or business, and may require additional certifications or licensing.
Jobs in the sector tend to be fast-paced and high-stress, but they also offer the potential for high salaries and lucrative bonuses if you have the personality and talent to work in this industry. You’ll want to get advice on how to write a cover letter for a job and how to prepare for an interview before applying for an investment banking position.