Finance Jobs - Salary Expectations

By: EconomyWatch   Date: 25 September 2009

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The salary expectations in finance jobs are highly diverse, with entry-level jobs getting paid as low as $40,000 a year and high-level jobs earning up to $70 million annually.

Finance Jobs - Salary Expectations for Various Jobs

The salary expectations for various finance jobs are:

Commercial Banking: Banking is a margin business. Thus, high salaries are uncommon in this sector. Starting salaries in commercial banking for a bachelor's degree were in the range of between $40,000 and $60,000 in 2009. You can expect a salary in the $80,000-$120,000 range after gaining experience of around ten years in banking.

Job Level

Salary

Prerequisite (degree + yrs experience)

Trainee/credit analyst

$48K

Bachelor's Degree

Junior Loan Officer

$60K

Bachelor's + 3 years

Loan Officer

$100K

5-7 years

Senior Corporate Loan Officer

$115K

10 years

Mortgage Originator

$40K

1 year or more

Financial Analyst

$58K

3 years or more

Personal Banker

$40K

1-3 years

Corporate Finance:

Job Level

Salary

Rookie Financial Analyst - Smaller Firm

$35-$50K

Rookie Financial Analyst - Large Firm

$40-$50K

Seasoned Financial Analyst - Smaller Firm

$50-$65K

Seasoned Financial Analyst - Large Firm

$63-$81K

Tax Manager

$92-$130K

Assistant Treasurer

$88-$113K

Chief Financial Officer – Big Firm

$260-$390K

Chief Financial Officer – Smaller Firm

$95-$125K

Financial Planning and Wealth Managers: The median salary for financial planners was $70,000 in 2008. While the salaries of people who work for companies are somewhat lower, those working at franchisees earn the least. The salary distribution in this business is highly skewed.

Insurance sector:

Job Level

Salary

Actuary Entry Level

$50-$80K

Actuary - Senior

$160-$400K

Agent/Broker

$40-$70K

Claims Adjuster

$40-$50K

Underwriter

$45-$80K

Investment Banking:

Job Level

Salary

Prerequisite (degree + yrs experience)

First Year Analyst

$60K-$150K

Bachelor's Degree

Third Year Analyst

$120K-$300K

Bachelor's

First Year Associate

$150K-$250K

MBA

Third Year Associate

$250-$450K

MBA

Vice President

$350K-$1MM

3-6 years

Director / Principal

$400K-$1.5MM

5-10 years

Managing Director / Partner

$500K-$20MM

7-10 years

Department Head

$800K-$70MM

10+ years

Money Management: Salaries of analysts in the starting positions at leading mutual funds, pension funds and bank trust departments are between $60,000 and $80,000. While a jobs at a state pension fund or a bank trust department will get paid in the $90,000 to $180,000 range, those at a private fund may get around $500,000.

Real Estate:

Job Level

Salary

Residential Property Manager

$65K

Residential Real Estate Agent

$54K

Financial Analyst in a Real Estate Company

$60K

Project Manager

$90K

Mortgage Lender

$110K


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