It’s no secret that bankers do well. In fact, New York was recently ranked the best in the U.S. for high salaries, with an average base pay of $104K per year. But while engineers and doctors tend to receive most of the press when it comes to high-paying jobs in NYC, bankers still earn the most in terms of median salary — that’s nearly $194K per year for a five-year career on Wall Street — and this number has stayed fairly consistent over the past five years
.
The investment bank industry is not just about money. Yes, banks pay you well and the salaries are enviable to most industries but sometimes, success in this field is not all about the money.
Bankers salary in us
The morale of the story is that it may be a good ride for an average person to work in this field, but if you are hoping to hit Goldman Sachs former bank analyst pay you are in for a long wait. The majority of individuals will never make it in the industry, and even then there are those that would still struggle to earn such a high salary.
There are many factors that affect a salary, not all of which can be considered beforehand. Still, how much you earn will usually depend on your education and experience, but it’s also determined by the prestige of the company you’re employed by, as well as other economic factors that directly influence your country or region. Where education and experience are concerned, some of the highest salaries often go to Master’s degree holders in finance or economics. It may be worthwhile to pursue a higher degree if it will make you considerably more marketable and enable you to demand a higher salary.
The 2% raise is common for doctors and dentists. Engineers will be asking the question that they have been asking the past few years – is it worth staying in this profession? I believe most engineers are on a similar wage as these professionals, but its the sense of accomplishment that’s missing when you compare it to a career like law or medicine.
