How Many Jobs Are Available in Major Banks?

According to the U.S. Bureau of Labor Statistics (BLS), the banking and related credit intermediation industry employs over 1.8 million people in the United States (BLS, 2024).

This includes retail banks, commercial banks, savings institutions, and credit unions.

Major Banks — Employee Counts & Hiring Activity

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Understanding Open Roles

• JPMorgan Chase, for instance, maintains approximately 14,000 open roles despite recorded layoffs, indicating ongoing staffing efforts, especially in technology and operations.

• At Bank of America, nearly 3,200 new hires have joined this year, reflecting sustained demand, particularly in tech (13,000+ engineers), wealth management, and risk operations.

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Broader Market Context

According to Indeed’s summary of BLS data, the financial activities industry—which includes but is not limited to major banks—employs around 6.7 million people in the U.S., and as of May 2025, there were 269,000 job openings across this sector Indeed.

Some of the largest banks in the U.S. employ tens of thousands of workers each:

• JPMorgan Chase – Over 300,000 employees worldwide.

• Bank of America – Around 216,000 employees.

• Wells Fargo – More than 238,000 employees.

• Citigroup (Citi) – Around 240,000 employees.

• Goldman Sachs – Roughly 45,000 employees.

• Morgan Stanley – Around 80,000 employees.

Together, these banks alone account for over 1.1 million jobs globally, with a significant portion in the U.S.

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Common Career Paths in Major Banks

Major banks employ professionals across a wide range of functions, from customer service to advanced finance and technology. Here’s a closer look at the most common career paths:

1. Retail Banking Roles

• Positions: Bank teller, personal banker, branch manager, customer service representative.

• What They Do: Help customers with accounts, deposits, loans, and daily banking services.

• Salary Range (U.S.): $30,000 – $75,000 annually, depending on experience and location.

• Growth Potential: Branch managers can move into regional management roles; experienced tellers often transition to corporate banking.

2. Corporate & Commercial Banking

• Positions: Commercial loan officer, credit analyst, business relationship manager, corporate banker.

• What They Do: Manage loans, credit lines, and financial services for businesses.

• Salary Range: $60,000 – $120,000 annually.

• Skills Needed: Financial analysis, risk assessment, relationship management.

3. Investment Banking

• Positions: Analyst, associate, M&A specialist, equity research associate.

• What They Do: Advise companies on mergers, acquisitions, capital raising, and strategic investments.

• Salary Range: $90,000 – $200,000+ annually, with potential bonuses.

• Growth Potential: High; top performers can become vice presidents, managing directors, or partners.

• Note: Investment banking is highly competitive and often involves long work hours.

4. Risk & Compliance

• Positions: Risk analyst, compliance officer, anti-money laundering (AML) specialist, fraud investigator.

• What They Do: Ensure the bank complies with regulations, manages risks, and prevents fraud.

• Salary Range: $60,000 – $120,000 annually.

• Skills Needed: Regulatory knowledge, analytical skills, attention to detail.

5. Technology & Cybersecurity

• Positions: IT support, software developer, cybersecurity analyst, data scientist, fintech product manager.

• What They Do: Develop and secure digital banking platforms, manage data, and implement AI solutions.

• Salary Range: $70,000 – $150,000+, depending on expertise.

• Growth Potential: Strong, as banks increasingly rely on digital systems and fintech partnerships.

6. Operations & Back-Office Roles

• Positions: HR, project manager, operations analyst, administrative coordinator.

• What They Do: Support the bank’s internal processes, human resources, and project execution.

• Salary Range: $40,000 – $100,000.

• Skills Needed: Organizational skills, process management, communication.

7. Wealth Management & Private Banking

• Positions: Financial advisor, portfolio manager, investment consultant, private banker.

• What They Do: Manage high-net-worth clients’ investments, retirement plans, and estate planning.

• Salary Range: $70,000 – $200,000+, often with performance bonuses.

• Skills Needed: Financial expertise, relationship management, sales skills.

8. Specialized Roles

• Examples: Quantitative analysts, derivatives traders, sustainability/ESG analysts, fintech integration specialists.

• Why They’re Growing: The rise of digital banking, ESG investing, and advanced financial products is creating high-demand, specialized roles.

• Salary Range: $80,000 – $250,000+, depending on niche expertise.

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Skills Needed to Succeed in Banking

To succeed in a major bank, you’ll need a mix of technical, analytical, and soft skills:

• Technical & Analytical Skills: Financial modeling, accounting, data analysis, Excel, SQL.

• Soft Skills: Communication, negotiation, client relationship management.

• Regulatory Knowledge: Compliance rules (e.g., SEC, FINRA), anti-money laundering (AML).

• Digital Literacy: Familiarity with fintech tools, blockchain basics, cybersecurity awareness.

Education-wise, most banking jobs require at least a bachelor’s degree in finance, business, accounting, or economics. Higher-level roles may require an MBA, CFA, or CPA certification.

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The Future of Banking Jobs

Banking is rapidly transforming. Digital-first strategies, mobile banking, and AI-powered financial services are creating new job opportunities in areas such as:

• Data Analytics & AI in Banking

• Fintech Partnerships & Product Development

• Cybersecurity & Fraud Prevention

• Sustainable Finance & ESG Investing

While automation may reduce some teller and back-office roles, demand for tech-driven banking jobs is expected to rise significantly.

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How WiseWorq Can Help

At WiseWorq, we connect job seekers with insights into 25,000+ U.S. companies, including major banks. Our platform provides details on:

• Work culture pros and cons.

• Career growth opportunities.

• Employee experiences and salaries.

Whether you’re exploring an entry-level teller role or a high-paying investment banking career, WiseWorq can guide you toward the right employer.

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Key Takeaways

• The U.S. banking sector employs 1.8M+ people, with major banks offering hundreds of thousands of jobs.

• Career paths range from retail banking to investment banking, IT, and compliance.

• Future growth lies in digital banking, fintech, and cybersecurity.

• Platforms like WiseWorq can help job seekers find the right cultural and professional fit.