VPs of Risk Management are awarded the highest paychecks, with compensation nearing approximately $157K annually on average; Information Technology Managers are next on the list, bringing in close to around $150K, followed by Compliance Managers earning about $122K and Senior Compliance Officers making $105K. Financial compensation for Personal Bankers is rather low — on average only $57K — relative to the rest of the company.
Years of Experience
For those with one to four years of experience, median paychecks reach $66K per year. For those with five to nine years of experience, average earnings amount to $89K annually. When we consider tenure, a substantial portion of employees (37 percent) have been working for 10-19 years and make $113K per year on average.
When it comes to location, the highest average paycheck ($132K annually) can be spotted in Chicago, Ill.; New York, N.Y. (around $122K), Jersey City, N.J. (about $116K), and San Francisco, Calif. (approximately $95K) are the next top-paying cities. At about $74K, Buffalo, N.Y. is home to some of the lowest pay in the country. By state, HSBC pays its New Jersey employees the most; the pay rate there is $116K per year.
Certifications and Degrees
Monetary compensation comes to $140K annually for Certified Public Accountants, far surpassing the earnings of non-credentialed workers. Project Management Professionals with credentials can live quite comfortably; median salaries come in at $127K per year. The best paid folks at HSBC have a Master of Business Administration (MBA), earning approximately $187K annually.
The highest-paying skill to have in this role seems to be Risk Management / Risk Control; employees claiming this as part of the toolbox earn a median of around $126K per year. Microsoft Excel also popped up often in the survey as an important skill; nearly one in seven of employees surveyed report using it at work. Project Management, Customer Relationship Management, and Data Analysis round out the set of key employee skills.
Benefits and Perks
A fair number of survey participants participate in the company's 401(k) retirement savings plan. Almost all workers receive health insurance, and most employees get dental coverage. The company also dishes out perks such as a company cell phone, tuition reimbursement, a casual working environment, life insurance, and optional telecommute / work from home.