Commercial Banker Salary
Six-figure salaries are the norm for Commercial Bankers in the United States, with median pay hovering around $90K per year. Total incomes of Commercial Bankers incorporate potential for, in a few cases, more than $46K from bonuses and close to $10K from profit sharing; these performance components cause packages to range between $50K and $167K. Residence is the biggest factor affecting pay for this group, followed by experience level. Nearly all report receiving medical coverage from their employers and most collect dental insurance. The vast majority of Commercial Bankers (85 percent) survey respondents are men. Job satisfaction is reported as high by the vast majority of workers. The data for this snapshot was collected from individuals who took PayScale's salary survey.
|Salary||$48,881 - $139,635|
|Bonus||$2,972 - $45,958|
|Profit Sharing||$0.00 - $10,151|
|Total Pay (||$49,546 - $167,211|
Job Description for Commercial Banker
Many financial institutions work with businesses and corporate clients in addition to individuals, and the person responsible for handling corporate clients is a commercial banker. These specialized bankers maintain and build existing relationships with business clients, while also actively marketing the institution’s services to attract new commercial clients.Read More...
For businesses, money management is an essential task. While businesses may leave large lump sums in accounts, most companies prefer to invest their profits and use small revolving credit lines to handle routine cash outlays. Commercial bankers handle these accounts for companies and help these businesses invest profits wisely while maintaining ready access to needed funds in a flexible way.
Additionally, commercial bankers facilitate larger loans and financing for capital improvements, building new facilities, and renovating existing space. In these cases, the commercial banker researches the best interest rate for their clients and works within the client's needs to ensure loans are approved if possible. Commercial bankers may also be the point person to help manage employee retirement accounts and pensions for businesses as well.
Most banks prefer commercial bankers who possess at least a bachelor's degree business, finance, or a related field. Relevant experience is generally required or preferred as well. Commercial bankers typically work during regular business hours, but they may spend time outside these hours and outside the bank itself promoting and marketing the institution to prospective clients.
Commercial Banker Tasks
- Develop and expand commercial client relationships, as well as cross sell existing clients.
- Participate in the business development activities of the bank.
- Grow deposits, loans, and fee income in a profitable manner.
- Sell full range of commercial banking services to client base.
- Originate, negotiate, and close commercial loans.
Commercial Banker Job Listings
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Pay by Experience Level for Commercial Banker
Median of all compensation (including tips, bonus, and overtime) by years of experience.
In general, experience and pay appear to be strongly linked; those with more experience usually bring in higher incomes. The average beginner in this position makes around $72K, but folks who have been around for five to 10 years see a markedly higher median salary of $93K. Those with 10 to 20 years of experience under their belts can expect their paychecks to flourish around the six-figure median of $121K. Respondents who claim more than 20 years of experience may encounter pay that doesn't quite reflect their extensive experience; these veterans report a median income of around $129K.
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Key Stats for Commercial Banker
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