How to Make 6 Figures As A Banker? (11 Best Ways in 2024)
So you want to make six figures as a Banker? Good for you! Being a Banker is a highly respectable and well-paid profession, and there's no reason why you can't earn a high income if you put your mind to it.
In this blog post, we'll look at some of the best ways to make more money as a Banker - business ideas you can start to achieve such income. Keep reading to learn more!
1. Create an online course ($82.8K/month)
Starting an online course presents a lucrative avenue for bankers looking to supplement their income or even build a separate business. By creating and selling digital classes on specialized banking skills or financial literacy, you could leverage your industry expertise to tap into a market of eager learners. This not only allows you to share valuable knowledge but also generates passive income as students pay for self-paced or cohort-based learning modules.
Launching an online course requires relatively low startup costs, making it an accessible venture for entrepreneurial-minded bankers. You could develop engaging video lessons and supplementary materials to fill educational gaps, creating a strong revenue stream. With a growing demand for convenient access to emerging subjects, this initiative could significantly contribute to your goal of making six figures.
How much you can make: $275 — $1,000,000/month
How much does it cost to start: $2,000 (?)
How long does it take to build: 88 days (?)
Learn how one couple created a successful personal finance blog, The Savvy Couple, that now makes over $20,000 per month and has sold thousands of digital workbooks and courses, by focusing on purposeful content and optimizing their ROI with efficient time management.
2. Start a blog ($44.9K/month)
How to Make 6 Figures As a Banker with a Blog
Starting a blog could be a lucrative way to supplement your income as a banker, or even to build an entirely new business. Blogs are rated as one of the top five sources of trustworthy online information, with 77% of internet users regularly reading them. By sharing your banking expertise, insights, and tips, you could tap into this vast audience and establish yourself as a trusted voice in the industry.
Moreover, the scalability of a blog offers you the opportunity to monetize through various channels such as affiliate marketing, sponsored posts, and digital products like eBooks or online courses. Approximately 409 million people view more than 20 billion blog pages each month, giving you an extensive potential reach. By starting a blog with a strategic content plan and consistent posting routine, you could create a steady stream of additional income, potentially reaching six figures over time.
How much you can make: $100 — $650,000/month
How much does it cost to start: $500 (?)
How long does it take to build: 30 days (?)
Time commitment per week: Min. 5 hours/week
Learn how one couple created a successful personal finance blog, The Savvy Couple, that now makes over $20,000 per month and has sold thousands of digital workbooks and courses, by focusing on purposeful content and optimizing their ROI with efficient time management.
3. Start a freelance writing business ($62.6K/month)
Starting a freelance writing business could significantly supplement your income as a banker and pave the way to reaching six figures. With this flexible online job, you could set your own schedule and work from home, making it an ideal side hustle alongside your banking career. By leveraging your banking expertise, you could write about finance-related topics, attracting clients who value your industry knowledge.
To excel in this field, you would need strong writing skills and the ability to meet deadlines, ensuring client satisfaction and repeat business. Staying updated with current writing tools and trends, along with being a self-starter, could also help you stand out in the freelance market. Proper communication skills are essential to understanding client needs and delivering high-quality content, ultimately boosting your earning potential.
How much you can make: $700 — $500,000/month
How much does it cost to start: $500 (?)
How long does it take to build: 56 days (?)
How David Tile turned a freelance writing gig into an $80k/month business, discussing lessons learned through managing growing demands and maintaining a remote team operation.
4. Digital products ($242K/month)
Supplementing your income as a banker by creating digital products could be a strategic path to making six figures. Digital products, such as eBooks, online courses, or apps, are easy to develop and distribute, enabling you to leverage your expertise without substantial upfront costs. The flexibility of digital products allows you to manage this side venture alongside your banking career without the burden of physical inventory.
Furthermore, digital products offer scalability unmatched by traditional businesses. Once created, a single digital product can be sold an unlimited number of times, maximizing revenue potential. This means that with a well-targeted niche and effective marketing, your digital product business could generate significant passive income, potentially pushing your total earnings into the six-figure territory.
How much you can make: $10,417 — $1,766,666/month
How much does it cost to start: $5,000 (?)
How long does it take to build: 60 days (?)
FilterGrade is an eCommerce platform offering digital assets such as photo filters and video templates; attracting over 450,000 monthly users and generating approximately 30k a month, the founders worked hard to build a valuable marketplace for creators while focusing on digital marketing, partnerships, and content creation.
5. Start an ecommerce store ($287K/month)
Starting an ecommerce store could be an excellent way to supplement your income as a Banker and potentially help you reach a six-figure income in 2024. The advantages of running an ecommerce business, such as lower overhead costs and the ability to reach a wider audience, offer a flexible and profitable side venture. You could leverage your analytical skills to optimize inventory and streamline operations, making the endeavor efficient and scalable.
Ecommerce is booming due to its convenience for consumers, who prefer the ease of shopping from their computers, tablets, or smartphones. By setting up a professional website, integrating shopping cart and payment processing software, you could establish a seamless shopping experience for your customers. This is a viable way to capitalize on the growing trend of online shopping, allowing you to earn extra money and possibly create an entire business to supplement or even replace your primary income as a Banker.
How much you can make: $350 — $13,500,000/month
How long does it take to build: 120 days (?)
Time commitment per week: Min. 5 hours/week
Southern Elegance Candle Company, founded by D'Shawn Russell, started as a side hustle making around $200 per weekend at a local Farmers Market, but now averages approximately $20,000 per month in sales across their retail site, wholesale site, and Faire.
6. Start a social media marketing agency ($386K/month)
Starting a social media marketing agency could be a lucrative way for a Banker to supplement their income and amass six figures. By developing efficient social media marketing strategies and using automation tools, you could serve multiple clients without a heavy time commitment, making it a flexible side business.
Furthermore, creating a strong agency portfolio could help you market your services effectively to target customers, whether you aim to clear utility bills, fund higher education, or save for a dream vacation. This entrepreneurial venture allows you to leverage your skills in finance while exploring the dynamic world of social media marketing.
How much you can make: $1,000 — $4,166,667/month
How much does it cost to start: $5,000 (?)
How long does it take to build: 75 days (?)
Time commitment per week: Min. 30 hours/week
How David Tile turned a freelance writing gig into an $80k/month business, discussing lessons learned through managing growing demands and maintaining a remote team operation.
7. Start a youtube channel ($146K/month)
Starting a YouTube channel could be a lucrative way for a banker to supplement their income and potentially reach six figures annually. With the platform's established monetization system and immense popularity, you could capitalize on content creation to generate a significant side income. By sharing insights on financial literacy, investment strategies, or even day-in-the-life content, you could attract a dedicated subscriber base interested in your banking expertise.
With consistent effort, valuable content, and effective promotion, reaching the minimum threshold of 1,000 subscribers and 4,000 watch hours to join the YouTube Partner Program is achievable. Once in the program, earnings from ad revenue, sponsorships, and affiliate marketing could substantially boost your income. By leveraging your expertise and YouTube’s monetization avenues, transitioning to a six-figure income as a banker becomes a tangible possibility.
How much you can make: $800 — $1,000,000/month
How much does it cost to start: $750 (?)
How long does it take to build: 90 days (?)
Time commitment per week: Min. 5 hours/week
Learn how this entrepreneurial couple made $5-7k a month by helping others find legitimate work from home jobs and creative ways to make money online through their blog and YouTube channel, as well as offering two flagship products designed to help beginner freelancers and new bloggers accelerate growth.
8. Start a podcast ($97.9K/month)
Starting a podcast could be a valuable side business for a Banker aiming to make six figures by sharing your expertise and insights into the financial industry. By selecting a niche topic that aligns with your passion and expertise, such as investment strategies or financial planning, you could attract a dedicated audience interested in gaining actionable advice from a professional in the field.
Investing in basic recording equipment and using affordable hosting platforms would allow you to produce high-quality content without significant upfront costs. As your podcast grows in popularity, promoting it through social media and online communities could help you build a loyal listener base, opening the door to potential sponsorships and advertising deals. Such supplementary income streams could significantly boost your earnings, pushing you closer to a six-figure income.
How much you can make: $400 — $1,020,000/month
How much does it cost to start: $2,000 (?)
How long does it take to build: 60 days (?)
Time commitment per week: Min. 2 hours/week
A successful podcast production company that grew from one client making $15/hour to a team of 10 contractors producing over 30 shows per week with revenue of over $10k/mo, primarily through referrals and with a focus on providing high personal touch and being picky about working only with clients who are a good fit.
9. Become an affiliate marketer ($55.3K/month)
One way you could supplement your income and work towards making six figures as a Banker is by venturing into affiliate marketing. This low-cost business idea involves promoting other companies' products or services and earning a commission for each sale made through your referrals. Given your background in finance, you could leverage your expertise to recommend financial products, tools, or services, building trust with your audience while driving traffic and sales to affiliated businesses.
To start, you would need to sign up for affiliate programs from companies in your chosen niche, such as investment platforms, financial software, or banking tools. Once approved, you'll receive unique tracking links that allow you to earn commissions for successful sales generated through your marketing efforts. With minimal upfront investment, this business model provides an accessible way to diversify your income streams and possibly achieve six figures by tapping into your existing skills and industry knowledge.
How much you can make: $18,000 — $83,000/month
How much does it cost to start: $100 (?)
How long does it take to build: 150 days (?)
This case study explores how Spencer Mecham founded Buildapreneur, an affiliate marketing business, and has made over half a million dollars in profit with no employees, relying solely on content marketing through platforms like Facebook, YouTube, and TikTok.
10. Start a career coaching business ($48.5K/month)
Starting a career coaching business could provide you with a lucrative opportunity to supplement your income and eventually help you achieve the six-figure mark as a Banker. By leveraging your industry knowledge and experience, you could offer personalized guidance, support, and strategy services that assist clients in navigating professional transitions and growth opportunities. This entrepreneurial venture allows you to design custom sessions focused on resume building, interview preparation, and workplace advancement goals tailored to each client’s needs.
With the flexibility to conduct in-person or virtual meetings, building a diverse client base becomes more feasible, allowing you to empower individuals through specialized advice and accountability. If you have a knack for speaking and a background in human resources, a career coaching business could monetize your motivational skills while giving you the freedom to set your own schedule. This approach not only supplements your income but also fulfills the increasing demand for skilled career coaches in today's competitive job market.
How much you can make: $1,000 — $235,000/month
How much does it cost to start: $1,500 (?)
How long does it take to build: 60 days (?)
Wall Street Oasis, the largest online community focused on careers in finance, has over 100 million visitors during its 14-year history and is currently receiving over 2 million visits per month, offering interview courses and mentorship services, in addition to building and investing in a thriving online community.
11. Become a social media influencer ($57.4K/month)
Leveraging your expertise as a banker, you could establish yourself as a social media influencer in the finance sector. By sharing insightful content about personal finance, investment strategies, and banking tips on platforms like Instagram, YouTube, and LinkedIn, you could attract a dedicated audience interested in financial advice. Brands are keen to collaborate with influencers who can authentically connect with their target audience, potentially leading to lucrative sponsorship deals and affiliate marketing opportunities.
Building a significant online presence requires strategic content creation, but the payoff could substantially supplement your income. As your follower base grows, the potential for earning six figures through sponsored posts, brand partnerships, and even your financial services increases. This venture could not only provide a substantial income stream but also position you as a thought leader in the banking and finance industry.
How much you can make: $2,500 — $166,666/month
How much does it cost to start: $800 (?)
How long does it take to build: 155 days (?)
How one mother built a profitable frugal motherhood, life, and travel blog from scratch, using Instagram, Pinterest, and paid sponsorships to grow from 0 to 18.5K followers and generate $1,500-$3,000 per month in less than two years.
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Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
