It’s no secret that average pay in the investment banking sector is lower than it was ten years ago. Those were the heady days of the bubble market after all, and after the collapse of 2008 financial industry salaries took a hit. Pay has risen steadily since then, but not enough that most senior money managers aren’t still noticing the difference between what they take home now and what they were earning in the good old days.
The financial world attracts aggressive people, and for aggressive people a situation like this can be incredibly frustrating. You’re here to make money, after all, and anyone smart enough to be a big earner is sure to look at the decline in their returns over the last near-decade and feel unsatisfied. You’re a go-getter, after all. You want to go where the money is, and that feeling of frustration is making you think that there’s another industry where you can find it. While that’s understandable, the truth is that sticking with the financial sector is the move that will pay off the best.
The first thing to consider is that every industry’s pay rates took a beating in the last ten years. That feeling of discontent you have over not being paid what you used to be is one you’ll find everywhere. You’ll also notice that none other industry has gained a reputation rivaling the financial sector’s as the place where people go to earn lots and lots of money.
The other thing to keep in mind is that average pay is just that: average. It’s not the upper limit on how much more money you can make. For a number to be the average, there have to be people earning more than that. For an ambitious senior money manager, that average isn’t a barrier that’s keeping them down; it’s a challenge to be overcome.
There’s still plenty more money to be made in the financial industry. That’s why so many people are still struggling to work their way up in it. That time you spend thinking that maybe there’s another line of work for you is time that someone else is spending chasing down the opportunities that could be making you the money you want. Make no mistake, those opportunities are out there, and they’re being taken by people who aren’t content to coast along earning average pay when they could be making more.
Red Unida is your source for finding those opportunities. We collect job listings from all over the industry and cross-reference their earning potentials so that you can find your next step up. The money you want to be making is out there, and you can find it through us.
Financial sector pay is rising, and your opportunity to earn is rising with it. As the average pay continues to go up, so are the rewards being given to those who stand out and prove themselves to be more valuable than the rest of the crowd. You have the skills and the initiative, and we have the opportunities. There’s even more money to be made in the industry. Let’s find it together.
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