In a recent article published by Polygon, we asked our readers which professional banks trainees earn the most.
In a previous Polygon piece, we discussed the impact of trainee salaries on retention, and it was noted that the number of graduates who earn a salary above the median, which is $85,000, was relatively high.
As such, we decided to take a look at the earnings of professional bank workers.
While it is often difficult to tell the real number of people working in the banking industry, we do know that a large percentage of professional bankers work in the financial services industry.
With over 80% of the banking workforce employed in financial services, we wanted to know what percentage of them earn more than the median salary of $85K per year.
To arrive at the number, we looked at the top 25 largest banks and the median salaries of each.
We then calculated the average hourly earnings for each bank trainer.
Below is a breakdown of the top 10 biggest banks and their median salaries for 2015:Bank salaries (in thousands of dollars)Top 25 largest American banksRank bank 2015 median salary1 Bank of America $86,0001 BankAmericas BAC Capital 1,300 $86K2 Bank of New York Mellon 1,200 $86k2 Bank Of America 2,500 $87K2 Citigroup 2,000 $88K3 Citigroup Bank of Ameritrade 2,200 25,0004 Citigroup Capital 2,300 23,0005 Chase Manhattan 1,600 $89K5 Chase U.S. Bank 1,700 $90K5 JPMorgan Chase 1,900 $91K5 Barclays 1,800 $93K5 BofA Merrill Lynch 1,500 25,5001 Citigroup Inc. 2,400 25,8002 Deutsche Bank 2,600 25,9002 JPMorgan Chase 2,900 25,9503 Barclays 1.8 million 25,6004 Bank of American Corp. 2.400 25.9005 Barclays Capital 1.800 25,7005 Bank of Tokyo-Mitsubishi UFJ Corp. 1,000 25,7506 Barclays Capital 2.200 25.8006 Barclays Bank 1.400 23,9006 Barclays U.K. 2.,400 23.9006 Bank of Nova Scotia 1,400 23;1BNY Mellon 1.700 22,1007 Barclays UFJC 1,100 23;2BNYCMN 1,350 22,5007 Bank of the West 1,750 23;3BNY CMN 1.600 21,9008 Citigroup Corp. 3,100 22;4BNYC 1,850 21,6008 Citibank 2,100 21;5BNY CI 1,450 21,7009 Citigroup U.N. 1.200 21;6BNYN 2,250 21;7BNYM 2,750 21;8BNYU 1,950 21;9BNYL 1,150 21;10BNYR 1,325 21;11BNYV 1,475 21;12BNYX 1,550 21;13BNYS 1,650 21;14BNYI 1,525 21;15BNYZ 1,620 21;16BNYK 1,775 21;17BNYA 1,875 21;18BNYF 1,825 21;19BNYD 1,925 21;20BNYE 1,975 21;21BNYH 1,995 21;22BNYO 1,1000 21;23BNYP 1,1100 21;24BNYT 1,1250 21;25BNYW 1,1750 21In addition to our analysis of the pay for professional bankers, we also included a breakdown for professional trainees.
We asked our members to submit the number and gender of trainees who had made the most, as well as the percentage of female and male trainees earning more than their male counterparts.
The data was then compared to the numbers for 2015, and we found that the median wage for trainees in 2015 was $84K per month.
The average wage for female trainees was $69K per week.
The average salary for professional bank employees in the U., Canada and Australia was $76,000 per year, according to data compiled by BMO Capital Markets.
In New Zealand, the median was $62K per annum, while in the United Kingdom, it was $65K per.
In China, the average was $56K per day, while the median in the European Union was $58K per weekday.
According to data from the BMO Global Data Platform, the salary for trainee bankers is a much lower percentage of the average wage in the developed world.
In the United States, for example, the U, Canadian and Australian median salaries are $61K per