Personal Banker Salary

Those pursuing careers as Personal Bankers in the United States may have to make do with less; average incomes for people in this area hover around only $35K per year. Overall cash earnings for Personal Bankers stretch from $26K on the lower end to $46K near the top, and the heftiest packages can encompass around $8K from bonuses and $3K from profit sharing. Compensation for this group is mainly affected by the company, but the particular city and experience level are influential factors as well. A large number enjoy medical while a fair number get dental coverage. Vision coverage is also available to the larger part. Women Personal Bankers who took the survey just slightly outnumber men. Job satisfaction for Personal Bankers is high. The data for this synopsis comes from respondents who took the PayScale salary survey.

$28,411 - $44,016
(Median)
$28K
$35K
$44K
MEDIAN: $34,717
10%
50%
90%

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$11.76 - $18.94
(Median)
$12
$15
$19
MEDIAN: $15.00
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$16K$32K$48K
Salary
$28,411 - $44,016  
   
Bonus
$0.00 - $7,937  
Profit Sharing
$349.22 - $3,056  
Commission
$769 - $11,725  
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).
)
$26,300 - $45,820  
Country: United States | Currency: USD | Updated: 2 Jul 2015 | Individuals Reporting: 2,904
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$10$20$30
Hourly Rate
$11.76 - $18.94  
   
Overtime
$16.06 - $28.98  
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$20K$40K$60K
Bonus
$0.00 - $7,937  
   
Commission
$769 - $11,725  
Profit Sharing
$349.22 - $3,056  
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).
)
$26,300 - $45,820  
Country: United States | Currency: USD | Updated: 2 Jul 2015 | Individuals Reporting: 2,617
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Job Description for Personal Banker

Personal bankers are responsible for helping individual clients manage their money in order to balance financial risks and returns. These bankers typically work in indoor office environments, and some limited travel may be required to attend social networking events and appeal to potential clients. Although they generally work during traditional business hours, extended hours may be required depending on the organization and needs of the client.

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Personal Banker Tasks

  • Collects customer information for new loans and begins review process.
  • Sells financial products and services to potential and current customers.
  • Provides customer service, explaining bank services and assisting with new accounts, loans, bonds, and securities.
  • Enters new and updated customer account information into computer system.

Common Career Paths for Personal Banker


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There are some Personal Bankers — though it's uncommon — that transition into Private Bankers, where earnings are an average $78K annually. The most common next step for a Personal Banker is to become a Banking Branch Manager or an Assistant Branch Manager of Banking. The former position pays an additional $16K per year on average, and the latter position pays $3K more per year.

Personal Banker Job Listings

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Popular Employer Salaries for Personal Banker


Wells Fargo Bank, Bank of America Corp. (BOFA), J.P. Morgan Chase & Co. (JPMCC), U.S. Bank, and Chase Bank are among the top companies that take on many Personal Bankers. Salary cannot be beat at Citibank, where median pay comes to $42K. The range seems somewhat confined, however; the lower end sits at $32K, and the higher end is not far away at $55K. J.P. Morgan Chase & Co. (JPMCC), KeyBank, and Bank of America Corp. (BOFA) also offer top salaries for Personal Bankers. Workers at these firms can expect to earn about $41K, $40K, and $39K, respectively.

The smallest paychecks in the field are found at Woodforest National Bank, where the median salary is a mere $24K, 71 percent lower than the top payer. Also approaching the lower end are The PNC Financial Services Group, Inc. at $31K, U.S. Bank at $32K, and Citizens Financial Group, Inc. at $34K.

Popular Skills for Personal Banker


Personal Bankers report using a deep pool of skills on the job. Most notably, skills in Spanish Language, Mortgage Loans, Customer Relationship Management, and Sales are correlated to pay that is above average, with boosts between 4 percent and 6 percent. It is often found that people who know Banking are also skilled in Sales.

Pay by Experience Level for Personal Banker

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


Personal Bankers do not generally earn higher incomes from more experience in the field. Workers in their first five years can expect to earn $34K, but people who have been around for five to 10 years earn a noticeably bigger sum of $37K. Personal Bankers claiming one to two decades of experience make an estimated median of $38K. In the end, more experience does seem to mean larger paychecks; seasoned Personal Bankers with more than 20 years of experience earn a predictably higher median salary of $40K.

Pay Difference by Location


For those looking to make money, Personal Bankers in New York enjoy an exceptional pay rate, 25 percent above the national average. Personal Bankers will also find cushy salaries in San Francisco (+23 percent), Los Angeles (+10 percent), Miami (+9 percent), and Chicago (+8 percent). Falling short of the national average by 4 percent, the area with the worst salaries is Denver.

Personal Banker Reviews

What is it like working as a Personal Banker?

Personal Banker in Fort Worth:
"Career Oriented Company."
Pros: If you are looking for a job, this might not be the best option. Wells Fargo likes to keep people as long as possible. If you are good at what you do, you will move up quickly. Performance based company, if you are not good with people, this might not be the best option. I enjoy the company, the culture and the compensations.
Cons: Performance based company. Very performance based. Favoritism throughout the work place; very apparent so...get along with ALL of your peers.

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Experience Affects Personal Banker Salaries




National Average
$35,000


Skills That Affect Personal Banker Salaries


Customer Relationship Management (CRM)
up arrow 4%

Mortgage Loans
up arrow 4%

Sales
up arrow 3%

Banking
up arrow 2%

Account Management
up arrow 2%

Consumer Loans
up arrow 1%

Account Sales
up arrow 1%

Problem Solving
up arrow 1%

Customer Relations
0%

Loan Processing
0%

National Average
$35,000

Customer Service
up arrow 1%

Microsoft Office
up arrow 2%

Microsoft Excel
up arrow 3%

Inside Sales
up arrow 3%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 895 votes.

Gender

Female
55 %
Male
45 %

Years of Experience

Less than 1 year
7%
1-4 years
53%
5-9 years
25%
10-19 years
12%
20 years or more
4%

Common Health Benefits

medical benefits Medical: 85% dental benefits Dental: 78%
vision benefits Vision: 64% employee benefits None: 13%
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