The Most High-Paying Jobs On Wall Street

December 13, 2022
By AdmissionSight

The Most High-Paying Jobs On Wall Street

What are the high-paying jobs on Wall Street?

What are the high-paying jobs on Wall Street? There is no question that people in the United States are fascinated by the big hitters on Wall Street. Jobs on Wall Street typically provide the opportunity to work for multinational corporations and are available in a wide range of specializations. When they first enter the workforce, many aspirational professionals have their sights set on making it big on Wall Street. This is especially true of those who have recently graduated from college.

a view of wallstreet signage carved into a wall while a man on his phone wearing a suit walks by

The following are some of the high-paying jobs on Wall Street that you might want to consider:

Technical support specialist

National average salary: $44,612 per year

Primary responsibilities: An individual who specializes in providing technical support for hardware and software issues is called a technical support specialist. Fixing connection issues, increasing system performance, recommending hardware to executives, installing software, and troubleshooting software problems are all common duties.

Loan processor

National average salary: $54,536 per year

The primary responsibilities of a loan processor include the processing of mortgage applications and the preparation of those applications for the underwriter. The most common tasks involve the collection of documentation, the organization of client information, communication with title companies, and the verification that the mortgage approval complies with lending guidelines.

Auditor

National average salary: $62,329 per year

Primary responsibilities: An auditor is a professional who examines and provides advice regarding a company’s financial operations. Preparing tax documents, checking accounting books for accuracy, developing cost-reduction methods for accounting systems, and identifying financial errors are examples of the tasks that make up an accountant’s typical workday.

Hedge fund manager

National average salary: $62,614 per year

Primary responsibilities: A hedge fund manager is responsible for managing the investments and finances of their clients. Typical job responsibilities include making investment recommendations, keeping track of how investments are performing in the market, and making sales pitches to prospective customers.

View of a man writing in front of his laptop.

Marketing Manager

National average salary: $65,415 per year

The primary responsibilities of marketing managers are to initiate and administer the marketing policies of their organization. Typical job responsibilities include conducting analyses of financial and marketing data, determining the company’s marketing objectives, crafting a marketing budget, and supervising the efforts of a marketing team.

Financial analyst

National average salary: $68,898 per year

One of the most high-paying jobs on Wall Street is that of a financial analyst. The primary responsibilities of financial analysts include analyzing the performance of stocks, bonds, and other investments held by clients such as banks, mutual funds, insurance companies, and securities firms. Typical responsibilities consist of analyzing financial data and statements, researching market tendencies, making investment recommendations, and studying financial statements.

Compliance manager

National average salary: $69,882 per year

Primary responsibilities: A compliance manager, also known as a compliance officer in some contexts, is responsible for ensuring that an organization satisfies all of the necessary ethical and legal requirements. Part of the compliance manager’s job responsibilities, is the need to remain current on all applicable regulations, conduct routine compliance reviews of the company, educate employees on any applicable legal requirements, and draft company policies designed to ensure compliance.

Financial adviser

National average salary: $70,974 per year

Primary responsibilities: A financial adviser is someone who helps clients create personalized financial plans, both short-term and long-term, that can assist them in reaching their financial goals. They may advise their clients on potential investment opportunities, execute stock trades on their client’s behalf, educate their clients on various financial topics, and monitor trends in the stock market.

Stockbroker

National average salary: $77,347 per year

Primary responsibilities: A stockbroker is a type of financial professional who acts on behalf of clients to buy and sell various types of securities. In addition to these responsibilities, stockbrokers manage clients’ investment portfolios, offer guidance on the best times to buy and sell stocks, keep an eye on the regulations governing the stock market, and use their knowledge of investments to assist clients in achieving their financial objectives.

Information security analyst

National average salary: $86,885 per year

An information security analyst is one of the most high-paying jobs on Wall Street. Information security analysts’ primary responsibilities include guarding company data against threats such as hackers, malware, and viruses. Identification of network vulnerabilities, investigation of data breaches, installation and upgrade of firewalls, education of staff on appropriate security practices, and development of emergency recovery plans are all examples of typical job duties.

Attorney

National average salary: $94,775 per year

Principal responsibilities include providing clients with legal counsel and representation, as well as defending their legal rights in both criminal and civil proceedings. Giving professional legal advice, preparing legal documents, conducting in-depth research on cases, developing legal strategies for clients, and defending clients in court are all typical job duties of a lawyer.

an unidentified student wearing a graduation gown and holding a scale of justice

Financial manager

National average salary: $115,907 per year

Primary responsibilities: The health of a company’s finances is the responsibility of the company’s financial managers. Reviewing financial reports, developing financial models, monitoring the company budget, and working to increase revenue while simultaneously reducing costs are all examples of typical job responsibilities.

Data scientist

National average salary: $119,453 per year

Data scientists’ primary responsibilities include conducting data analysis and making use of the findings to formulate strategic objectives for businesses. Data scientists combine their knowledge of mathematics, statistics, and computer science to process large amounts of data, perform data analysis using algorithms and models, develop solutions based on the results of analysis, and present their findings to stakeholders.

Chief financial officer

National average salary: $130,406 per year

Chief financial officer is one of the best high-paying jobs on Wall Street. Primary responsibilities: An executive at the C-level who is in charge of all of an organization’s financial operations is called the chief financial officer (CFO). The chief financial officer is responsible for the hiring of financial staff members, as well as their supervision, the creation of strategies to increase company revenue, the development of the company’s financial strategy, and the preparation of financial reports.

Chief technology officer

National average salary: $141,246 per year

Primary responsibilities: An executive at the C-level who is in charge of all of a company’s technological operations is called the chief technology officer (CTO). Chief technology officers are well-versed in all facets of technology; they are responsible for the hiring of staff, the selection, and implementation of technological solutions, the management of technology performance, the development of standards for the application of technology, and the development of a budget for the information technology department.

Loan Officer

National average salary: $181,917 per year

Primary responsibilities: Loan officers are financial professionals who assist individuals and businesses in acquiring loans for real estate, commercial properties, and new business ventures. The majority of jobs require candidates to evaluate the financial standing of customers as well as their risk profiles, make recommendations regarding suitable loan products, and review loans that are currently in use.

What are the most sought-after job skills on Wall Street?

What are the job skills that employers on Wall Street look for the most? That is dependent on the particular role. However, in a broader sense, the skills that are in the highest demand on Wall Street these days center on data science and technology. Things such as prescriptive analytics, cloud computing, and machine learning are gaining significance.

On Wall Street, skills like risk management, process improvement, and interpersonal client building are always in high demand. These are essentials for landing one of the high-paying jobs on Wall Street.

What should I study to work on Wall Street?

What kind of education should I get if I want to work on Wall Street? When it comes to working on Wall Street, having knowledge and experience in areas such as finance, business, and economics as well as mathematics, data science, and computer programming are all very helpful. You will typically need a bachelor’s degree in a field that is related to business or mathematics at the very least.

What are the top undergrad schools for high-paying jobs on Wall Street?

Which universities offer the best undergraduate programs to prepare students for high-paying jobs on Wall Street? There is a recent power ranking that was produced by Wall Street Oasis, which is an online community where members can share ideas with professionals from 5,000 other financial and consulting firms.

You might find some answers in this ranking. Wall Street Oasis produced a ranking based on an intriguing metric called “job interviews” by mining data collected from more than 300,000 members of the community.

Wall Street Oasis developed something that is best referred to as a “recruiting map,” with a particular emphasis on the bulge bracket, the elite middle market, and boutique banks.

Three people talking on a table with a laptop.

In the end, the University of Pennsylvania came out ahead of New York University when it came to recruiting from Wall Street. For instance, Penn was ranked as the number one feeder school to Goldman Sachs, Morgan Stanley, Barclays Capital  (tied with Harvard), Citigroup, Blackstone, Houlihan Lokey (tied with NYU), and Nomura Holdings (tied with NYU).

With a power score of 2.35, New York University finished in a very close second place, just a hair behind Penn (2.39). To be more precise, NYU made it onto the top 10 lists of more companies than Penn did, giving it the upper hand in the competition between the bulge bracket schools.

In general, students from New York University were invited to the most interviews at JPMorgan Chase, UBS AG (tied with Boston College), Lazard (tied with the University of Michigan), and Nomura Holdings (tied with Penn). Surprisingly, New York University did not make it into the top 10 for any of the high-end boutiques that were surveyed. These firms include Evercore, Jefferies & Company, and Moelis & Company.

It is not necessary to have attended an Ivy League school on the east coast to land one of the most high-paying jobs on Wall Street. Take, for example, the University of Michigan, which achieved third place overall and ranked in the top ten for interviews at 14 different companies. Additionally, Evercore, BNP Paribas, and KeyBanc Capital Markets all ranked the University of Michigan as their top-feeder school.

The undergraduate recruiting pipeline on Wall Street is still dominated by the Ivy League, which has six schools ranked within the top 10 overall, including Harvard University (which is ranked fourth), Cornell University (which is ranked fifth), Princeton University (which is ranked sixth), and Columbia University (9th). Because of their proximity to Wall Street, this should not come as a surprise. Additional schools that made the top 10 include Boston College, the University of Toronto, and the University of Texas at Austin.

Having all the necessary information is important before choosing any course of action. AdmissionSight is always here to assist you if you have any questions or concerns. We have more than ten years of expertise assisting students in successfully navigating the challenging admissions process.

Consult with AdmissionSight and find out what we can do to help you get into the school of your choice by ensuring that you are sufficiently aware and well-prepared for the application process.

 

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