How Many Jobs Are Available In Major Banks?

Published on: 16 December 2022 Last Updated on: 04 September 2024

How many jobs are available in major banks? If this is something that you are searching for, then you have reached the right place.

There are a number of things that people search for when they look for a particular job or mode of employment. Some of the most important questions that people usually want to know when they are looking for a job are the availability of jobs and the salary and benefits of that specific career path.

If you are someone who wants to work in the world of banking, you might be searching for how many jobs are available in the major banks around the world. Keep reading till the end to learn more about the same…

What Is The Banking Industry?

The banking industry is one of the most competitive as well as the most growing sectors. Even though it may look like it, you do not have to sit in the bank and deal with the people coming in and out of it.

There are a number of types of jobs available in the banking sector. These jobs are directly related to the financial service sector. Therefore, there are a lot of levels when it comes to working in the banking sector.

In case you are searching for some of the types of jobs that are available in the banking sector, I have you covered. Here are some of the types of job roles that are available in the industry:

Bank Teller
Account Manager
Investment Representative
Investment Banker
Asset Manager
Financial Analyst
Investment Banking Analyst

While these are some of the job roles that exist in the line of banking, this is definitely not the entire list.

Answering The Question, “How Many Jobs Are Available In Major Banks?”

In case you were searching for the answer to how many jobs are available in major banks right now, you have found the destination. There are a number of banks in the world, and it is no wonder that there are a lot of vacancies in the world of banking.

In the world, there are approximately more than a million jobs available in the sector of major banking. In the United States, more than ten thousand people are working in banks. According to reports, there are 27,000 job vacancies.

Even though most of these vacancies are in the sector of customer service, there are many other jobs available. For example, some of the posts that are available to work for in the major banks are in marketing, finance, and even the department of human resources.

Take a look at some of these job roles in the banking industry and the number of vacancies:

JOB ROLES	NUMBER OF JOBS AVAILABLE
Banker	222,000
Bank Teller	405,000
Underwriter	97,000
Account manager	1,022,000
Loan officer	122,000

What Are The Best Paying Jobs In Major Banks?

Now that you know the answer to how many jobs are available in major banks, it is time for you to learn about the highest paying jobs in the banking industry.

Take a look at some of these best paying jobs in the banking industry:

1. Branch Manager

Salary: $50,000 to $68,000

The first one on the list of the best-paying jobs in the banking sector is that of a branch manager. In order to become a Branch Manager, you need to have strong leadership qualities. You should be able to motivate the ones who are working under you. You need to make sure that you are able to meet the targets and improve the overall functioning of the branch.

2. Loan Officer

Salary: $190,000 to $205,000

The role of a loan officer is to help people or their clients obtain loans from the banks. They are responsible for making sure that your loan is approved. They are also responsible for denying a loan and for analyzing the credit of the borrower.

3. Trust Officer

Salary: $145,000 to $156,000

If you are someone who is in search of competitive salaries and growth opportunities, then this is the one for you. The main job of a trust officer is to manage the financial services. In addition, they work to ensure that there are no issues regarding the taxes.

4. Financial Consultant

Salary: $68,000 to $72,000

If you become a Financial Consultant, you will have to provide effective guidance to the ones who are seeking it. In addition, you will be responsible for your clients and have to help them make the right decisions related to their finances.

5. Investment Banker

Salary: $65,000 to $ 75,000

If you are planning to become an investment banker, you will have to deal with the investment and other tasks related to the same for your bank. In addition, you will be responsible for analyzing the clients’ data and finances.

6. Underwriter

Salary: $85,000 to $95,000

In a bank, an underwriter’s role encompasses evaluating risk for insurance and loan applicants. Once approvals are granted, the underwriter takes on the task of determining premiums or repayment figures. Collaborating with loan officers, they contribute their expertise to assist the bank in making optimal lending decisions that mitigate risk.

7. Internal Auditor

Salary: $85,000 to $90,000

The role of an internal auditor revolves around evaluating the efficiency of the entire bank branch’s operations. Their primary responsibility involves ensuring that the branch’s processes adhere to the diverse regulations and procedures governing the banking industry. After analyzing financial reports and performing risk assessments, the internal auditor communicates their findings to the bank manager and offers guidance on potential courses of action.

8. Credit Analyst

Salary: $60,000 to $70,000

A credit analyst employs their skills to evaluate the creditworthiness of an applicant. This involves determining whether an individual or business seeking a credit account can adhere to the bank’s offered terms and repay the amount. The credit analyst recognizes the distinctions between applicant types and uses this insight to make an informed decision.

9. Mortgage Banker

Salary: $55,000 to $65,000

Upon receiving new mortgage applicants, the mortgage banker evaluates them to determine the viability of approving their mortgages. This assessment involves analyzing the applicants’ financial information and leveraging their regulatory expertise to ensure that the application aligns with established standards.

10. Bank Clerk

Salary: $30,000 to $40,000

The responsibilities of a bank clerk primarily revolve around managing transactions conducted within the branch. This role encompasses cash handling, including assisting customers with deposits and withdrawals. Additionally, bank clerks often engage in customer service by addressing inquiries and resolving concerns regarding balances, products, and various banking-related issues.

Is Major Banks A Good Career Path?

Banking can be a very rewarding career path for individuals who are interested in finance, economics, and working in a dynamic industry. It offers opportunities for career growth, job stability, and the potential for lucrative compensation.

Roles in banking can vary widely, including areas such as retail banking, investment banking, risk management, financial analysis, and more.

However, it’s important to note that the banking industry can also be competitive and demanding, requiring strong analytical, communication, and problem-solving skills. As with any career choice, it’s advisable to research the industry, consider your strengths and interests, and weigh the pros and cons before making a decision.

Bonus: How Many Jobs Are Available In Commercial Banks?

The commercial banking sector currently boasts over ten thousand job openings, exclusively in the United States. According to data from the U.S. Bureau of Labor Statistics (BLS), the nation employs a staggering 1.9 million individuals within its commercial banks.

The BLS reports a decline in job opportunities within the commercial banking industry by an average of 7% since 2016. This decrease can be attributed to the surge in online banking popularity among customers. Nonetheless, despite this shift, the sector remains on a growth trajectory.

Frequently Asked Questions (FAQs):

Take a look at some of these questions that readers who are searching for in the number of jobs available in the banking industry look for. You might learn more information about the same from these:

1. What Is The Most Secured Job In The World?

Ans: While there are a number of jobs available in the world across several sectors, if you are looking for the most secure jobs, the answer always is the healthcare industry. Job roles like the doctors, anesthesiologists, and nurses are the most secure.

2. What Is The Highest Paying Job?

Ans: The highest paid job belongs to two different sectors or industries. For example, while the surgeons from the healthcare industry earn almost $210,000 annually on an average, data scientists and blockchain developers are also earning a lot, with their average salary being $200,000 annually.

3. What Is The Salary Of Elon Musk?

Ans: The average monthly salary of Elon Musk is more than $200 million dollars. He is not only the SEO of TESLA but also of SpaceX and Twitter. This makes him one of the highest paid employees in the world.

Wrapping It Up!

The banking industry is one of the fastest-growing and the most secure job sectors in the world. They not only provide exposure but also come with a lot of additional benefits. There are more than a million jobs that are available in the major banks at present.

In case you want to know how many jobs are available in major banks, I hope that this article has been of help to you. If there are any other ways in which I can help you, feel free to write them down in the comment box below.

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Ankita Tripathy

Ankita Tripathy loves to write about food and the Hallyu Wave in particular. During her free time, she enjoys looking at the sky or reading books while sipping a cup of hot coffee. Her favourite niches are food, music, lifestyle, travel, and Korean Pop music and drama.

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Voluntary Unemployment – Definition, Examples, Types & Reasons

Voluntary unemployment is a circumstance where the unemployed individual decides not to consider the job at the going wage rate. This can be due to various reasons that we will discuss in this article. This type of unemployment refers to voluntary non-working. Examples of this unemployment are people who refuse certain job offers because their benefits are not in line with expectations. On the other hand, voluntary unemployment contrasts with involuntary unemployment, which includes people who are prepared to work but are jobless. What Is Voluntary Unemployment? How Is It Different From Involuntary Unemployment? Voluntary unemployment describes the number of individuals in an economy without jobs because they choose to be unemployed. The primary reasons can be an incompatibility with open positions or low wages. On the other hand, involuntary unemployment means there are no types of job openings that fit your expertise. 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How Many Jobs Are Available In Major Banks?

What Is The Banking Industry?

Answering The Question, “How Many Jobs Are Available In Major Banks?”