Huge Salary Range
A clerk or teller in a bank is considered part of the banking and finance sector, but the average salary for a bank teller is only $25,000.00 a year. When you compare that to the astronomical salary that a hedge fund manager can expect, a whopping $180,000.00 or more per year to start, it is hard to believe they work in the same sector at all.
Median Wage Levels
There are dozens of different professions within the banking and finance category. We tend to think of only bankers and big money managers as being in that sector, but there are also private equity analysts ($114,000.00 per year), regulatory reporting accountants ($92,000.00 per year), internal auditors ($92,000.00 per year) and many others. Someone who is a math genius and is willing to put in the three to six years it takes to gain the education for the job, can become an actuary. An actuary figures out and advises on risks, so the job is all about mathematical probabilities. It pays about the same as a bank teller at first, but an experienced actuary can earn between $75,000.000 and $100,000.00 per year.
Are you Willing to Work That hard ?
For the most part, the banking and financial sector pays extremely well, and the education and training requirements are in the average range. The world of finance can be difficult to get into, though, since the pay levels are very attractive and there are a lot of people trying to break into the field. If you want a high-paying career in banking or finance, be prepared to work very hard to earn your place there.