You love Math and you like listening to people talk about money, the economy or any investment. You like putting your money where you can earn more after a few years’ time. You love to do business with almost everyone you encounter. Then, you might want to be a professional investment banker. We all know that working in the business industry is lucrative. We hear a lot of success stories about businessmen and how they thrived in the struggling global market. But the question is, how much does an investment banker make?
The income of an investment banker depends on his qualifications. This includes degree/s, license/s and the years of experience. Of course, MBA holders earn more and are given higher entry level positions compared to bachelor’s degree holders.
According to the US Bureau of Labor and Statistics (BLS), the income of investment bankers may depend on their length of experience.
- Less than 1 year experience - $47,000 - $48,000/ year
- With 1 - 4 years experience - $48,000 - $49,000/ year
- With 5 – 9 years experience - Average of $64,000/ year
- With more than 10 years experience – Average of $75,000/ year
The given figures are average income levels of investment bankers according to the number of years spent on working in the industry. The income level of an investment banker may increase from time to time. Investment bankers also have the option to apply for a higher position within the firm or investment group and earn higher income levels. On top of the average salary, investment bankers also earn from bonuses and commissions.
Since huge investment groups and banks are mostly in New York, it also follows that most jobs are in the city. According to the BLS, New York investment agents earn an hourly rate of $52.31 and can make $108,000 annually. Here are the other high paying states for investment bankers:
- Connecticut: $48.35/ hour -- $100,560/ year
- California: $47.88/ hour -- $99,580/ year
- Oregon: $45.21/ hour -- $94,040/ year
- District of Columbia: $44.94/ hour -- $93,470/ year
The rates provided are the average income of investment bankers with numerous of years’ experience and has passed all the licensure and state exams mandated by the US government. If you have just graduated and work as an entry-level employee, you can expect to earn at least $40,000 a year.
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