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
BB&T $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
M&T 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
S&T 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
