Top executives make among the highest salaries of any profession and those who work for financial institutions like credit unions are at the very top, according to the U.S. Bureau of Labor Statistics. However, the job is a demanding, stressful one and there's plenty of competitors ready to steal your spot if you drop the ball.
U.S. National Average
Top executives of financial services, including credit unions, earned $94.49 an hour, or $196,530 a year, in 2010, according to the U.S. Bureau of Labor Statistics. The Bureau categorizes vice presidents as a top executive position, which has different names depending on the institution a person works for, including vice president, chief executive or superintendent.
The Top Tier
The top-paying positions for a vice president or chief executive in a financial institution, including credit unions, is in a central bank or in securities and commodity exchange, points out the U.S. Bureau of Labor Statistics. In 2010, the average income for a vice president of a central bank was $114.23 an hour, or $237,590 a year, and $108.85 an hour, or $226,410 a year, for a vice president of a securities and commodity exchange bank.
In 2010, the average salary for a chief executive of a credit union specializing in depository credit intermediation was $85.01 an hour, or $176,820 a year, according to the U.S. Bureau of Labor Statistics. Those specializing in non-depository credit intermediation earned $99.34 an hour, or $206,630 a year.
Top executives, including vice presidents, typically have at least a bachelor's or master degree in a field specific to their professions, and sometimes higher. A vice president of a credit union, for instance, would hold a degree in finance or business management. Vice presidents also needs to be able to communicate effectively, think quickly and logically in stressful situations, and handle business matters efficiently.
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