My 9-Year Salary Journey in Banking: Insights and Lessons

💰Negotiating your salary is crucial to getting paid your worth and closing the gender pay gap.

📈Switching jobs often leads to significant salary increases, especially when facing stagnation or undervaluation.

💼Loyalty to a company should only be rewarded when it aligns with career growth and fair compensation.

💡Maximize your overall compensation by considering bonuses, benefits, and other forms of remuneration.

💸Banking salaries are diverse, with front office roles generally earning the most, but other factors like division and function impact pay.

How important is negotiating salary in the banking industry?

—Negotiating salary is crucial in any industry, but it is especially important in banking to ensure fair compensation and close the gender pay gap.

Is switching jobs necessary to increase your salary?

—While not always necessary, switching jobs often leads to substantial salary increases, especially if you are facing stagnation or being undervalued in your current position.

Should loyalty to a company affect your decision to stay or leave?

—Loyalty should only be rewarded when it aligns with career growth, fair compensation, and a supportive work environment. If these conditions are not met, it may be beneficial to explore other opportunities.

Are banking salaries solely based on front office roles?

—Banking salaries are diverse and depend on various factors such as division, function, and level of seniority. While front office roles generally earn the most, other factors also come into play.

How can I maximize my compensation in banking?

—In addition to negotiating your base salary, consider bonuses, benefits, pension contributions, and other forms of remuneration to maximize your overall compensation in the banking industry.

00:00In this video, I share my salary journey over the past 9 years in banking, highlighting important insights and lessons learned.

02:11Moving from the middle office to the front office didn't result in a significant pay rise, highlighting the importance of negotiating and not settling for less.

05:11Switching jobs often led to substantial salary increases, emphasizing the value of exploring new opportunities to maximize earnings.

08:54Being loyal to a company should be rewarded, but only if it aligns with career growth and fair compensation. If not, don't hesitate to consider other options.

06:43Banking salaries vary depending on factors like division, function, and seniority, with front office roles typically earning the most.

09:54Negotiating your salary and maximizing other forms of compensation are crucial strategies for achieving financial growth in the banking industry.