For an individual earning a MBA degree, the likelihood of landing a lucrative banking job increases exponentially. The following are some of the highest paying banking jobs for those with MBA degrees:
#1 Chief Financial Officer
A chief financial officer can hope to earn a salary upward of $150,000 a year. He/she is accountable for all monetary transactions that occur inside a corporation. In this regard, the central focus of the job is to control the risk that a corporation takes financially.
#2 Finance Director
Finance directors on average a salary around $130,000 a year. The general responsibilities of a finance director are to oversee that accounting standards are precise. They report to upper management how the company is doing financially.
#3 Banking & Commercial Loan Workout Manager
The average salary for this position in the US is $128,586. Persons in this position supervise stuff in the practice of reconstituting problematic commercial and banking loans. They also work to ensure a commensurate asset to collateral ratio between the lender and borrower. Armed with the knowledge provided with a MBA degree, individuals with strong leadership intangibles and problem-solving skills should excel in this position.
#4 Bank Vice Presidents
According to an article in Forbes, rising to the level of vice president for any one of the major banks in the country is a highly paid position ranging in pay of from around $124,000 to $165,000. Vice presidents fall just directly under the president and of CEO of a bank, and largely are responsible for developing relationship between the bank and clients, as well as shaping to overall vision and or direction of the bank. MBA graduates with excellent leadership skills and a desire to move up the job ladder can aspire to reach this level after the requisite job experience and job performance as determined by upper management. This can vary.
#5 CEO or Bank President
This is essentially the “crème de la crème” of banking jobs. The salaries of those in this position can be in the millions with no real limit and vary wildly. According to an article from Jobsearchdigest.com, “Jamie Dimon, Executive Chairman and CEO of JPMorgan Chase & Co, has received a total cash compensation package of over $15 million. Goldman Sachs paid its Chairman and CEO Lloyd Blankfein almost $54 million for one year of work.” The CEO of a bank is essentially responsible for the implementation of policy and the overall operation of the bank. Further entails of this job can be found here.
#6 Hedge Fund Managers
For those MBA graduates with an acute understanding of economics, business and finance, to go along with a flair for the high risk/high reward environment of investing and the stock market, being a hedge fund manager is ideal. Many of the top hedge fund managers in the countries have MBA degrees. The salaries of hedge fund managers typically depend on the nature of the portfolio that he/she is managing, however most hedge fund managers are normally dealing with very wealthy clientele. In this regard, the salary of a hedge fund manager can be in the 8 figure range.
A controller is tasked with many financial responsibilities within an organization. Chief among them are making sure that financial statements and are prepped, as well as overseeing the operations across the various financial branches in a company. Individuals holding this position typically obtain a MBA in accounting.
#8 Senior Direct Sales Representative
Individuals who pursue a career as a direct sales representative generally earn a MBA degree. While the median pay starts off in the $75,000 range, once a person is seasoned and is promoted to a senior position, that salary figure can increase well into the 6 figure range. The primary task of a senior direct sales representative is to research and speculate various areas worldwide for business ventures and opportunities for the company he/she is employed by, as well as to maintain relationship with existing clientele.