There are quite a few areas in which MBA holders employed on Wall Street jobs make very nice pay. Most of these jobs are in the area of hedge fund management, financial analysis, and credit risk management. A large percentage of graduates of the better known schools with MBA programs go straight to work on Wall Street in various jobs leading up to the following jobs.
#1 Hedge Fund Traders
The pay ranges from one to two million dollars annually, with the lower levels, up to fifteen to twenty million for the most successful traders. The better results the traders get for their clients, of course, the higher they pay they will receive.
#2 Hedge Fund Research Managers
The pay ranges from two to three million dollars annually to multiples of that for successful research. Research into investment opportunities is very important prior to investing and has to be kept current in order to protect the clients’ investments.
#3 Proprietary Traders
Their pay ranges from two to three million dollars annually. The Dodd-Frank Bill removed proprietary trading from inside banking companies to private companies, to protect bank clients from having the banks use their money without their knowledge for risky investments. It requires the same skills in trading and knowledge of the markets as other trading. An MBA is an almost certain requirement for consideration to hold this position.
#4 Top Partners in Private Equity Firms
The salary ranges from two to five million dollars annually. This is the salary range for the top partners of equity funds in the top quartile of successful equity funds.
#5 Chief Technology Officers
The pay range for this job varies from two to three million dollars annually. This job requires a high level of knowledge of the most current technology skills plus familiarity with trading strategies and the ability to communicate this knowledge to the other members of the boardroom of the company. Besides having an MBA with a specialization in a financial field, IT training is also essential. This job is of great importance to the company, almost as much as CEO.
#6 Chief Compliance Officers
The salary range is from one to two million dollars. This has become a very important job in financial companies due to the government starting to more seriously enforce regulations and laws in the financial arena. Since the passage of the Dodd-Frank Bill, both the regulations and enforcement requirements are constantly changing and the Compliance Officers have to be able to keep on top of the changing regulations to keep the company from acting in violation of the newer requirements. Since penalties can be in the millions of dollars, this is a very important job for any large financial organization.
The Chief Compliance Office in a company has to be able to keep the company in compliance with the laws and regulations of the federal government and usually requires both a law degree and an MBA with a major in accounting and experience with a law firm, accounting firm or a government regulatory agency.
#7 Chief Risk Officers
This position generally pays from one to three million dollars annually. The person who holds this job has to have varied skills in many areas of trading with a background in different aspects of the field of investment trading. This job requires that the holder has to be capable of understanding and managing the risk factors for the firm in its investing activities to protect both the company and the money of the clients. It also requires the ability to do research into the viability of prospective investments and to analysis that research to determine the degree of risk in the possible investment.
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