Hello Friends,
Working in the banking industry can make you a millionaire or a billionaire, it all depends on focusing your attention towards your goal, which should be how to get there!
Here's some examples of salaries for bank executives 10 years ago:
| Bank | Executive | Salary | Total Compensation |
|---|---|---|---|
| Bank of America | Kenneth D. Lewis
Chairman and CEO
| $1.5 million | $24.8 million |
| Bank of America | Joe L. Price
Chief Financial Officer
| $800,000 | $6.5 million |
| Bank of America | Amy Woods Brinkley
Global Risk Executive
| $800,000 | $9.3 million |
| Bank of America | Barbara J. Desoer
Global Technology and Operations Executive
| $800,000 | $10.5 million |
| Bank of America | Liam E. McGee
President Global Consumer and Small Business Banking
| $800,000 | $12.2 million |
| Bank of America | Brian T. Moynihan
President of Global Corporate and Investment Banking
| $718,859 | $10.1 million |
| Bank of America | R. Eugene Taylor
Former Vice Chairman and Former President, Global Corporate and Investment Banking
| $800,000 | $3.3 million |
| Citigroup | Sir Winfried Bischoff
Chairman
| $373,734 | $6.1 million |
| Citigroup | Vikram Pandit
CEO
| $250,000 | 573,813 |
| Citigroup | Gary Crittenden
Chief Financial Officer
| $403,410 | $19.4 million |
| Citigroup | Sallie Krawcheck
Chair and CEO�GWM
| $500,000 | $7.1 million |
| Citigroup | Lewis Kaden
Vice Chairman
| $500,000 | $6.8 million |
| Citigroup | Michael Klein
CEO- Global Banking
| $212,500 | $7.9 million |
| Citigroup | Stephen Volk
Vice Chairman
| $212,500 | $7.6 million |
| Citigroup | Charles Prince
Former Chairman and CEO
| $1 million | $15.1 million |
| Goldman Sachs | Lloyd C. Blankfein
Chairman and CEO
| $600,000 | $70.3 million |
| Goldman Sachs | Gary D. Cohn
President and Chief Operating Officer
| $600,000 | $72.5 million |
| Goldman Sachs | Jon Winkelried
President and Chief Operating Officer
| $600,000 | $71.5 million |
| Goldman Sachs | David A. Viniar
Chief Financial Officer
| $600,000 | $58.5 million |
| Goldman Sachs | Edward C. Forst
Chief Administrative Officer
| $600,000 | $49.1 million |
| JP Morgan Chase | James Dimon
Chairman and CEO
| $1 million | $27.8 million |
| JP Morgan Chase | Michael J. Cavanagh
Chief financial officer
| $500,000 | $8.3 million |
| JP Morgan Chase | Steven D. Black
Co-CEO Investment Bank
| $400,000 | $20.9 million |
| JP Morgan Chase | James E. Staley
CEO Asset Management
| $400,000 | $16.7 million |
| JP Morgan Chase | William T. Winters
Co-CEO Investment Bank
| $564,379 | $21.2 million |
| Merrill Lynch | John A. Thain
Chief Executive Officer
| $57,692 | $17.3 million |
| Merrill Lynch | Nelson Chai
Executive Vice President and Chief Financial Officer
| $34,615 | $1.7 million |
| Merrill Lynch | Gregory J. Fleming
President & Chief Operating Officer
| $350,000 | $27.4 million |
| Merrill Lynch | Robert J. McCann
Executive Vice President
| $350,000 | $5 million |
| Merrill Lynch | Jeffrey N. Edwards
Former Chief Financial Officer
| $275,000 | $2.6 million |
| Merrill Lynch | E. Stanley O�Neal
Former Chief Executive Officer
| $584,231 | $24.3 million |
| Merrill Lynch | Ahmass L. Fakahany
Former Co-President and Co-Chief Operating Officer
| $350,000 | $4.6 million |
| Merrill Lynch | Dow Kim
Former Executive Vice President
| $309,615 | $14.5 million |
| Morgan Stanley | John J. Mack
Chairman and CEO
| $800,000 | $1.6 million |
| Morgan Stanley | Colm Kelleher
Chief Financial Officer
| $339,603 | $21 million |
| Morgan Stanley | David H. Sidwell
Former Chief Financial Officer
| $275,000 | $14.6 million |
| Morgan Stanley | Robert W. Scully
Co-President
| $500,000 | $15.2 million |
| Morgan Stanley | Gary G. Lynch
Chief Legal Officer
| $300,000 | $11.9 million |
| Morgan Stanley | Thomas R. Nides
Chief Administrative Officer
| $300,000 | $6.3 million |
| New York Mellon Bank | Robert P. Kelly
Chief Executive Officer
| $975,000 � | $20.1 million |
| New York Mellon Bank | Thomas A. Renyi
Executive Chairman
| $1 million | $22.2 million |
| New York Mellon Bank | Gerald L. Hassell
President
| $800,000 � | $11.8 million |
| New York Mellon Bank | Bruce W. Van Saun
Vice Chariman and Chief Financial Officer
| $650,000 | $8.9 million |
| New York Mellon Bank | Steven G. Elliott
Senior Vice Chairman
| $675,000 | $19.7 million |
| New York Mellon Bank | Ronald P. O'Hanley
Vice Chairman
| $675,000 � | $11.5 million |
| State Street Corp. | Ronald E. Logue
Chief Executive Officer
| $1 million | $28.3 million |
| State Street Corp. | Edward J. Resch
Chief Financial Officer
| $650,000 | $6.6 million |
| State Street Corp. | Joseph L. Hooley
Vice Chairman
| $725,000 | $10.3 million |
| State Street Corp. | Joseph C. Antonellis
Vice Chairman
| $675,000 | $9 million |
| State Street Corp. | James S. Phalen
Executive Vice President
| $480,000 | $7 million |
| Wells Fargo | Richard M. Kovacevich
Chairman
| $995,000 | $22.9 million |
| Wells Fargo | John G. Stumpf
President�& Chief Executive Officer
| $749,615 | $12.6 million |
| Wells Fargo | Howard I. Atkins
Senior Executive Vice President�& Chief Financial Officer
| $600,000 | $5.1 million |
| Wells Fargo | David A. Hoyt
Senior Executive Vice President, Wholesale Banking
| $600,000 | $6.4 million |
| Wells Fargo | Mark C. Oman
Senior Executive Vice President, Home�& Consumer Finance
| $600,000 | $6.4 million |
| Wells Fargo | Carrie L. Tolstedt
Senior Executive Vice President, Community Banking
| $495,192 | $4 million |
Other than banks jobs, there is some additional professions that can let you earn large amount of money over the years, assuming that you'd spend your life in this kind of work. Here's few examples:
1. Petroleum Engineer
45-Year Earnings: $6,290,000
Starting Pay: $84,400
Pay at 20+ Years: $151,000
Find petroleum engineer jobs.
2. Landman/Senior Landman
45-Year Earnings: $5,380,000
Starting Pay: $53,600
Pay at 20+ Years: $138,000
Find jobs in the energy industry.
3. Software Engineer/Senior Software Engineer
45-Year Earnings: $4,360,000
Starting Pay: $57,900
Pay at 20+ Years: $105,000
Find software engineer jobs.
4. Electrical Engineer/Senior Electrical Engineer
45-Year Earnings: $4,170,000
Starting Pay: $56,200
Pay at 20+ Years: $100,000
5. Mechanical Engineer/Senior Mechanical Engineer
45-Year Earnings: $3,900,000
Starting Pay: $53,900
Pay at 20+ Years: $93,600
Find mechanical engineer jobs.
6. Software Developer/Senior Software Developer
45-Year Earnings: $3,830,000
Starting Pay: $56,000
Pay at 20+ Years: $91,100
Find software developer jobs.
7. Financial Analyst/Senior Financial Analyst
45-Year Earnings: $3,440,000
Starting Pay: $48,300
Pay at 20+ Years: $82,600
Find financial analyst jobs.
Actually there is salaries far more than that but it's kind of hidden or others ;)
There must be a very good reason for those very high compensations or salaries. What's it? This is for us to talk about next time. I will tell you exactly why.
Stay safe and follow up with us soon. :)
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