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Bank Manager Salary

Bank Managers who are practiced in their profession and carry more than 10 years of experience make up more than half of Bank Managers. Pay fluctuates from $40K to $83K per year, but expected earnings average $57K per year. Total cash compensation to Bank Managers approaches anywhere from $40K on the lower end to $83K on the higher end; in exceptional cases, this can include more than $13K from bonuses and upwards of $6K from profit sharing. Compensation for this group is mainly affected by geographic location, but the company and experience level are influential factors as well. Men are slightly outnumbered by their female counterparts who answered the questionnaire, who make up a slight majority at 58 percent. The majority of Bank Managers claim high levels of job satisfaction. A large number enjoy medical while most get dental coverage. Vision coverage is also available to a fair number. Respondents to the PayScale salary survey provided the data for this report.
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$39,849 - $75,439
(Median)
$40K
$57K
$75K
MEDIAN: $56,636
10%
50%
90%

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$12.72 - $25.17
(Median)
$13
$17
$25
MEDIAN: $16.00
10%
50%
90%

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National Salary Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$28K$56K$84K
Salary
$39,849 - $75,439  
   
Bonus
$516 - $12,614  
Profit Sharing
$17.88 - $5,830  
Commission
$511 - $13,702  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$39,828 - $83,253  
Country: United States | Currency: USD | Updated: 2 May 2015 | Individuals Reporting: 993
National Hourly Rate Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$14$28$42
Hourly Rate
$12.72 - $25.17  
   
Overtime
$0.00 - $37.25  
National Annualized Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$28K$56K$84K
Bonus
$516 - $12,614  
   
Commission
$511 - $13,702  
Profit Sharing
$17.88 - $5,830  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$39,828 - $83,253  
Country: United States | Currency: USD | Updated: 2 May 2015 | Individuals Reporting: 28

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United States (change)


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Job Description for Bank Manager

The bank manager handles the day-to-day operations of a bank branch, which is usually owned and operated by a larger financial entity. They administer the bank’s policies, ensure adherence to company and legal regulations, and are responsible for supervising the other bank employees. They implement bank operations and budgets, and they are expected to run their operation in a profitable manner. The bank manager is expected to grow their branch by expanding its base of customers and ensure that the bank is marketed properly. Depending on the bank and the entity that owns it, continuing training on regulations and new requirements may be part of the bank manager’s job, and the manager should also expect to do a great deal of training to his or her own staff as well. Finally, the bank manager serves as the final authority on hiring decisions made by the bank, and should have a good working knowledge of human resource management.

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Bank Manager Tasks

  • Plan and implement strategies for bringing in new customers and improving sales of bank services.
  • Supervise and motivate bank staff, and oversee the hiring, training, and performance of employees.
  • Manage the daily activities of a bank branch or regional branches, including marketing, sales, HR, and bank profitability.
  • Establish and maintain strong relationships with customers, the community, and business partners.

Common Career Paths for Bank Manager


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Many Bank Managers advance their careers by becoming Bank VPs & Branch Managers, who report a slightly higher median income of $71K.

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Popular Employer Salaries for Bank Manager


Many Bank Managers can be found at Bank of America Corp. (BOFA), Wells Fargo Bank, The PNC Financial Services Group, Inc., J.P. Morgan Chase & Co. (JPMCC), and Chase Bank, firms that are at the top of the field. J.P. Morgan Chase & Co. (JPMCC) does shell out the biggest paychecks — the median in that office is $75K — but the company pay scale is greatly mixed, meaning that workers on the low end may earn only $46K while workers on the upper end may rake in up to $103K. Other leaders in compensation levels are Chase Bank at $72K, Bank of America Corp. (BOFA) at $69K, and KeyBank, where Bank Managers annually earn $68K.

Us bank, TD Bank, N.A., and U.S. Bank are a few other employers known for handing out relatively lightweight salaries ($59K, $60K, and $61K respectively).

Popular Skills for Bank Manager


Bank Managers report using a pretty varied skill set on the job. Most notably, skills in Sales, Business Development, Sales Management, and People Management are correlated to pay that is above average, with boosts between 6 percent and 12 percent. Skills that seem to negatively impact pay include Mortgage Loans and Consumer Loans. The majority of those who know Customer Service also know Operations Management.

Pay by Experience Level for Bank Manager

Median of all compensation (including tips, bonus, and overtime) by years of experience.


Experience and pay tend to be weakly linked for Bank Managers — those with more experience do not necessarily bring in higher earnings. Relatively untried employees who have less than five years' experience make $53K, but folks with five to 10 years under their belts enjoy an appreciably larger median of $60K. For Bank Managers, 10 to 20 years of experience on the job amounts to an average salary of $63K. Bank Managers with more than 20 years of experience report incomes that are only modestly higher; the median for these old hands hovers around $66K.

Bank Manager Reviews

What is it like working as a Bank Manager at Chase Bank?

Bank Manager in Canton:
"Great company, great benefits and support."
Pros: I get paid well, I enjoy coaching my employees and helping clients, I love the technology.
Cons: I feel like to boss is always telling me to run the business my way and then tell me what to do.

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United States (change)

Experience Affects Bank Manager Salaries




National Average
$60,000


Skills That Affect Bank Manager Salaries

Sales
up arrow 12%



People Management
up arrow 4%

Operations Management
up arrow 1%

Customer Service
0%

National Average
$60,000

Consumer Loans
up arrow 17%

Mortgage Loans
up arrow 18%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 191 votes.

Gender

Female
58 %
Male
42 %

Years of Experience

Less than 1 year
2%
1-4 years
17%
5-9 years
27%
10-19 years
36%
20 years or more
19%

Common Health Benefits

medical benefits Medical: 90% dental benefits Dental: 83%
vision benefits Vision: 71% employee benefits None: 8%
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