The biggest earners in finance don’t work at banks

Lending

In the world of finance, you might think it’s the bankers who are making money hand over fist, but apparently, that’s no longer the case. Now, professionals working in real estate are the ones who are raking in the big bucks.

According to a recent Wall Street Journal analysis of the median pay for typical employees at publicly traded companies, those working at real estate investment trusts were the biggest earners in finance last year.

For the second year in a row, publicly traded companies have disclosed this information, shedding light now how much the average employee makes at their firm. The WSJ looked at 1,300 companies in the financial, real estate and insurance sectors, but we’ve taken it a step further and pulled just the companies that operate mortgage channels.

Among the six largest big banks, Citigroup had the lowest median pay at $49,766. JPMorgan Chase reported a median pay of $78,923, while Wells Fargo posted a median pay of $65,191.

The top five companies that reported the highest pay were:

Capstead Mortgage, at $300,000 for its 13 employees

New York Mortgage Trust, at $234,836 for its 19 employees

First Republic Bank, at $139,100 for its 4,480 employees

SVB Financial, at $131,664 for its 2,900 employees

Walker Dunlop, at $126,654 for its 629 employees

 

Here is a full list of the median pay for the typical employee at publicly traded companies involved in the mortgage business:

Bank of America                                $92,040

Bank of Hawaii                                   $57,060

Bank of New York Mellon                   $61,380

BBT                                                  $68,778

Capstead Mortgage                           $300,000

Citigroup                                            $49,766

Citizens Financial                              $59,748

Fifth Third                                          $64,186

First American Financial                  $52,428

First Bancorp                                     $49,401

First Midwest Bancorp                     $60,212

First Republic Bank                           $139,100

FNB                                                     $42,810

Genworth Financial                          $86,865

Independent Bank                             $65,008

JPMorgan                                           $78,923

KeyCorp                                             $62,853

LendingTree                                      $108,536

Lincoln National                                $70,828

MT Bank                                          $62,061

MB Financial                                      $63,747

MetLife                                               $73,794

National Bank Holdings                    $45,353

New York Community Bancorp       $68,578

New York Mortgage Trust                $234,836

Northfield Bancorp                           $48,703

PennyMac Mortgage                         $77,728

PNC                                                     $67,648

Prudential                                          $104,092

ST Bancorp                                      $39,193

SunTrust                                            $67,311

SVB Financial                                     $131,664

Synchrony Financial                         $41,933

TCF Financial                                     $44,878

Texas Capital Bancshares                 $91,315

Tompkins Financial                          $60,607

Trustco Bank                                     $29,699

U.S. Bancorp                                      $58,354

UMB Financial                                   $56,414

United Bankshares                            $53,145

United Community Banks                $39,920

Walker Dunlop                               $126,654

Webster Financial                             $58,492

Wells Fargo                                        $65,191

Westamerica Bank                            $38,387

Wintrust Financial                            $52,973

Zions Bancorporation                       $66,890

 

 

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