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Banking Associate Jobs (NOW HIRING)

Houlihan Capital

Investment Banking Associate

Chicago, IL · Hybrid

$83K - $112K/yr

Associate Department: Investment Banking Reports To: Vice President, Investment Banking FLSA Status: Exempt Location: Hybrid - Chicago, IL Base Compensation: $83,000-$112,000 USD Bonus Eligible: Yes ...

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$141.2K

$310.5K

How much do banking associate jobs pay per year?

As of Jul 1, 2026, the average yearly pay for banking associate in the United States is $141,209.00, according to ZipRecruiter salary data. Most workers in this role earn between $42,000.00 and $212,500.00 per year, depending on experience, location, and employer.

What are Banking Associates?

Banking Associates are entry- to mid-level professionals in banks or financial institutions who assist clients with their banking needs and support various operations, such as account management, loan processing, and customer service. They serve as the first point of contact for customers, handling inquiries, resolving issues, and ensuring compliance with regulatory requirements. Banking Associates often work alongside branch managers and other banking staff to provide seamless financial services and may also assist in sales and cross-selling of banking products.

What do banking associates do?

Banking associates assist customers with account transactions, provide information about banking products, and support daily branch operations. They often handle tasks such as opening accounts, processing deposits and withdrawals, and ensuring compliance with banking regulations, typically requiring good customer service skills and familiarity with banking software.

How much do bank associates earn?

Bank associates typically earn an average salary ranging from $30,000 to $50,000 per year, depending on experience, location, and the size of the bank. Entry-level positions may start lower, while experienced associates or those with specialized skills can earn higher wages. Compensation may also include bonuses and benefits such as health insurance and retirement plans.

What are some typical challenges Banking Associates face during their first year, and how can they overcome them?

Banking Associates often encounter a steep learning curve in their first year, especially when adapting to fast-paced environments and complex financial products. They may face challenges in managing multiple client accounts, meeting strict deadlines, and mastering industry-specific software. To overcome these hurdles, it's important to proactively communicate with team members, seek mentorship from more experienced colleagues, and take advantage of training resources provided by the bank. Building strong organizational skills and staying detail-oriented will also help Banking Associates succeed and grow within the role.

What is the difference between Banking Associate vs Bank Teller?

AspectBanking AssociateBank Teller
Required CredentialsHigh school diploma or equivalent; some roles may prefer associate degreeHigh school diploma or equivalent
Work EnvironmentOffice setting, handling client accounts, administrative tasksBranch counter, direct customer service
Employer & Industry UsageCommercial banks, credit unions, financial institutionsRetail banking branches, financial institutions
Common Search & ComparisonCustomer service, banking operations, financial productsCash handling, customer transactions, account inquiries

While both roles involve customer interaction within banking, Banking Associates typically handle a broader range of financial services and administrative tasks, often requiring more specialized knowledge. Bank Tellers focus primarily on cash transactions and basic customer service at the branch counter. Understanding these differences helps job seekers identify the right role based on their skills and career goals.

What are the key skills and qualifications needed to thrive as a Banking Associate, and why are they important?

To thrive as a Banking Associate, you need a solid understanding of financial products, customer service, and sales principles, often backed by a bachelor's degree in finance, business, or a related field. Familiarity with banking software, CRM systems, and compliance tools is typically required. Strong interpersonal skills, attention to detail, and problem-solving abilities set top performers apart in this role. These skills are essential for delivering excellent customer experiences, ensuring regulatory compliance, and achieving business targets within a competitive banking environment.

What is the highest paying job in banking?

The highest paying roles in banking are typically executive positions such as Chief Executive Officer (CEO), Chief Financial Officer (CFO), or Chief Investment Officer (CIO), which require extensive experience, leadership skills, and advanced financial knowledge. Investment banking roles like Managing Director or Senior Vice President also offer high compensation, often including bonuses and incentives. These positions usually demand advanced degrees, certifications, and a strong track record in finance and management.

What is the lowest position at a bank?

The lowest position at a bank is typically a teller or bank clerk, responsible for handling customer transactions and basic banking services. These entry-level roles often require minimal experience and serve as a starting point for a banking career, with opportunities for advancement through experience and additional training.
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Banking Associate jobs near you
Investment Banking Associate

Investment Banking Associate

Armory Group, LLC

New York, NY • Hybrid

Full-time

Medical, Dental, Vision, Retirement

This job post has expired today. Applications are no longer accepted.

Job description

Armory Group, LLC is a leading investment bank and financial advisory firm dedicated solely to the middle market.  We provide a full range of advisory services on a national basis to companies and their lenders, including raising debt and equity financing, M&A and restructuring financial advisory services.  We have won numerous national "deal of the year" awards for our M&A work from M&A Advisor and have broad industry coverage with 10 dedicated industry groups that bring unique, sector specific knowledge and expertise to each engagement.

While we regularly work with healthy or growing companies, what makes us relatively unique from other middle market investment banks is  our reputation as one of the pre-eminent financial advisors for middle-market companies navigating complex situations or facing unique financial challenges, including raising rescue or turnaround capital for those operating in cyclical industries, undergoing turnaround or experiencing one-time events impacting performance.  As a result of our work, we have been recognized with many national "deal of the year" awards from top industry organizations including M&A Advisor, with the 2021, 2022, 2024 and 2025 Turnaround Refinancing of the Year in the $100 million to $1 billion category and 2022 Boutique Investment Bank of the Year.  In addition, our growing creditor advisory practice regularly represents some of the nation's largest banks, financial institutions and private lenders in such situations. 

Since the original formation of our team in 2008, we have been involved in over $30 billion of transactions across over 175+ diverse engagements

Job Description & Responsibilities:

Armory is seeking both investment banking associates and financial advisory associates for our growing investment banking business and creditor advisory practice.  We are seeking results-oriented professionals, who can analyze company financial information, develop financial models and lead workstreams in connection with investment banking and creditor advisory projects for Armory.  This role requires strong financial modeling background and ability to complete high-quality work products in high-pressure, client-critical, transaction-oriented situations.

Armory offers a unique opportunity for Associates to work on projects that provide exposure to various financial advisory and investment banking products and industries.  The New York-based investment banking associate will have exposure to multiple industries, such as software and technology, industrials, business services, manufacturing, consumer & retail, and food & beverage.  Associates can expect to be involved in a variety of transactions, including debt and equity financings, mergers and acquisitions, recapitalization, valuations and restructuring assignments. Candidates should be intellectually curious and comfortable leveraging modern productivity and analytical tools, including AI-enabled workflows, to enhance efficiency, organization, and problem solving.  Transaction teams are typically small in size, providing significant responsibility and exposure to senior level professionals and clients.

Requirements:

  • Bachelor's degree or MBA from a top-tier educational institution
  • Two to three years of investment banking or restructuring experience
  • Demonstrated interest in M&A, debt and equity capital markets, special situations, and restructuring
  • Proficiency in financial modeling and financial statement analysis
  • Resourceful, proactive, and eager to learn in a team-oriented environment with significant exposure to live transactions and client situations
  • Excellent verbal and written communication skills
  • Demonstrated team player and leader with a strong motivation to contribute to a positive team culture and experience in training junior bankers
  • SIE, Series 63, and Series 79 licenses required at hiring or shortly thereafter

This is a full-time position based in New York, NY.  This is a hybrid role, consisting of both in-office and remote work. Travel will be required at times. Compensation includes base salary, discretionary bonus commensurate with the industry, and full benefits (including health, dental, vision, flexible spending account, and 401k). 

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