Personal Banker Salary

Personal Bankers in the United States may have to scrimp and save; the median compensation is $35K annually. In the world of Personal Bankers, total cash compensation ranges from $26K on the lower end to $46K on the higher end; this includes bonuses that reach $8K and profit sharing that approaches $3K in rare cases, with some high rollers snagging commissions as high as $12K. This group's pay is mainly influenced by the specific employer, followed by geography and experience level. Women make up a slight majority of Personal Bankers (56 percent) survey respondents. For the most part, Personal Bankers enjoy their work and report high levels of job satisfaction. Medical benefits are awarded to most, and a strong majority earn dental coverage. This report is based on responses to the PayScale salary survey.

$28,372 - $43,998
(Median)
$28K
$35K
$44K
MEDIAN: $34,701
10%
50%
90%

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$11.70 - $18.92
(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
$28,372 - $43,998  
   
Bonus
$0.00 - $7,881  
Profit Sharing
$342.55 - $3,048  
Commission
$756 - $11,764  
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).
)
$26,224 - $45,810  
Country: United States | Currency: USD | Updated: 20 Jun 2015 | Individuals Reporting: 2,927
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
$11.70 - $18.92  
   
Overtime
$16.02 - $29.01  
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 - $7,881  
   
Commission
$756 - $11,764  
Profit Sharing
$342.55 - $3,048  
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).
)
$26,224 - $45,810  
Country: United States | Currency: USD | Updated: 20 Jun 2015 | Individuals Reporting: 2,622
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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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Personal Bankers who advance into the role of a Private Banker are fairly uncommon. Private Bankers on average earn $78K per year. It is quite typical for Personal Bankers to transition into roles as Banking Branch Managers or Assistant Branch Managers of Banking, where reported median earnings are $16K and $3K higher per year.

Personal Banker Job Listings

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Popular Employer Salaries for Personal Banker


Personal Bankers flock to Wells Fargo Bank, Bank of America Corp. (BOFA), J.P. Morgan Chase & Co. (JPMCC), Chase Bank, and U.S. Bank, highly regarded companies that employ a generous number of people in this profession. Citibank pays the most with a median salary of $42K, though there is little variation overall ($32K to $55K). Other big spenders include J.P. Morgan Chase & Co. (JPMCC), KeyBank, and Bank of America Corp. (BOFA), top-paying firms where Personal Bankers see paychecks nearing $41K, $40K, or $39K.

Not only do salaries lack room to grow — pay ranges from $22K to just $30K — but Woodforest National Bank offers the lowest pay in town to boot, with a median paycheck of $24K. Workers also receive paychecks lighter than average at U.S. Bank ($31K), The PNC Financial Services Group, Inc. ($32K), and Citizens Financial Group, Inc. ($34K).

Popular Skills for Personal Banker


Survey respondents exploit a significant toolbox of skills in their work. 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.


For many Personal Bankers, extensive experience does not lead to significantly more money. Survey participants with less than five years' experience pocket $34K on average, but those with five to 10 years of experience enjoy a much bigger median of $37K. Personal Bankers see a median salary of $38K after reaching one to two decades on the job. As Personal Bankers reach more than two decades on the job, compensation remains commensurate with experience; the average pay in this group is $40K.

Pay Difference by Location


For Personal Bankers, working in the bustling city of New York has its advantages, including an above-average pay rate. Personal Bankers can also look forward to large paychecks in cities like San Francisco (+23 percent), Los Angeles (+11 percent), Miami (+9 percent), and Chicago (+8 percent). With compensation 5 percent below the national average, Denver is not known for hefty paychecks and actually represents the lowest-paying market.

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%

Sales
up arrow 3%

Banking
up arrow 2%

Consumer Loans
up arrow 1%

Account Sales
up arrow 1%

Problem Solving
up arrow 1%

Account Management
up arrow 1%

Customer Relations
0%

Loan Processing
0%

National Average
$35,000

Customer Service
up arrow 1%

Microsoft Office
up arrow 2%

Inside Sales
up arrow 2%

Microsoft Excel
up arrow 3%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 909 votes.

Gender

Female
56 %
Male
44 %

Years of Experience

Less than 1 year
7%
1-4 years
53%
5-9 years
25%
10-19 years
11%
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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