We’ve heard a lot about banker’s bonuses and salaries since the financial crisis. Half of the banks on the planet should have gone bust by now. And they would had it not been for taxpayers. Pay for bankers, however, remains at record levels. And it’s not just the big cheeses either. Regular VPs and analysts are also raking it in.
The question then is, if you can’t beat ‘em, should you join ‘em?
Recently, the survey company, Glassdoor asked people in the financial sector to report their income. The base pay they reported seemed a little low, around $75,000 a year for a financial analyst. But the gross pay, including bonuses, was much, much higher.
Glassdoor then proceeded to investigate which banks offered the highest compensation. It compiled salary lists from every position, right from the president at the top to the lowly analyst at the bottom. After sifting through more than 740 reports, they discovered which were the best-paying banks in the world.
Goldman Sachs Tops The List For VPs
Pay is good at Goldman Sachs – if you can make your way to the top, that is. The average VP at the company gets paid a base salary of $170,000. On top of that, they get paid an extra $87,000 on average in the form of bonuses.
Analysts at the company don’t do badly either. The average analyst rakes in slightly less than the industry average base pay. But the bonuses are enormous, and regularly paid out. As a result, employee satisfaction at Goldman Sachs is high, according to Glassdoor. Although there might not be many available banking jobs at the company, if you can get it, the work is good.
Capital One Comes In A Close Second
Capital One comes in a close second to Goldman Sachs on the VP pay scale. The company pays its VPs an average of $165,000 a year. Not bad, eh?
On top of that, they can expect another $73,000 in bonuses, according to Forbes.
But Capital One doesn’t just compete with the rest of the financial sector on pay. The respondent to the Glassdoor survey also said that the company did great when it came to other benefits. For starters, the company offers workers flexibility in how they clock their hours.
Capital One is a company that values a work -life balance. There is also the option for workers to work from home, and allowances for time off at certain times of the year. On top of that, employees said that they enjoyed being given a significant amount of responsibility early on in their careers.
Last in our list of top paying financials is Amex, the credit card processing giant. Amex has always been associated with wealth clientele, so it shouldn’t come as a surprise that the company pays rather well too.
According to the data, financial analysts at the company can rake in $66,000 a year. That makes them the fourth-highest earners across the industry.
In the Glassdoor survey, employees waxed about the fact that the company had a great atmosphere.