Personal Banker Salary

Pay for Personal Bankers in the United States is very modest at just $35K annually. In the world of Personal Bankers, overall cash earnings stretch from $26K near the bottom to $46K near the top; these packages encompass bonuses that run close to $8K and profit sharing that can (albeit rarely) exceed $4K, along with commissions approaching $12K. The most important factor affecting compensation for this group is the company, followed by geography and tenure. Most enjoy medical while a strong majority get dental coverage. Vision coverage is also available to a majority. Women make up a slight majority of Personal Bankers (56 percent) survey respondents. Most Personal Bankers report high levels of job satisfaction. This overview is based on answers to PayScale's salary questionnaire.

$28,510 - $43,998

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$11.78 - $18.95

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National Salary Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$16K$32K$48K
Salary
$28,510 - $43,998  
   
Bonus
$0.00 - $7,957  
Profit Sharing
$358.43 - $3,931  
Commission
$742 - $11,529  
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).
)
$26,320 - $45,704  
Country: United States | Currency: USD | Updated: 18 Jul 2015 | Individuals Reporting: 2,877
National Hourly Rate Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$10$20$30
Hourly Rate
$11.78 - $18.95  
   
Overtime
$16.08 - $28.96  
National Annualized Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$20K$40K$60K
Bonus
$0.00 - $7,957  
   
Commission
$742 - $11,529  
Profit Sharing
$358.43 - $3,931  
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).
)
$26,320 - $45,704  
Country: United States | Currency: USD | Updated: 18 Jul 2015 | Individuals Reporting: 2,625
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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 do not often transition into Private Banker roles. The role averages $78K per year. When Personal Bankers are ready for the next step in their careers, they often become Banking Branch Managers or Assistant Branch Managers of Banking. Those roles pay an additional $16K and $3K, respectively.

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), Chase Bank, and U.S. Bank are some prominent firms with considerable interest in employing a large team of Personal Bankers. Employees at Citibank enjoy the biggest paychecks, and $42K is the median salary. Range in pay, on the other hand, is narrow, with lower figures hovering around $32K and higher ones not far away at only $55K. Soaring salaries can also be found at J.P. Morgan Chase & Co. (JPMCC), KeyBank, and Bank of America Corp. (BOFA), where earnings of $41K, $40K, or $39K are standard for Personal Bankers.

Relative to other names in the field, compensation is very low at Woodforest National Bank — the median salary comes to just $24K, 72 percent less than the top paying company. The PNC Financial Services Group, Inc., U.S. Bank, and Citizens Financial Group, Inc. are a few other employers known for handing out relatively lightweight salaries ($31K, $31K, and $34K respectively).

Popular Skills for Personal Banker


Personal Bankers report using a large range 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. Most people who know Banking also know Sales.

Pay by Experience Level for Personal Banker

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


Experience does not seem to be a strong driver of pay increase in this role. Those in the early stages of their career can expect to make around $34K; however, individuals with five to 10 years of experience bring in $37K on average — a distinctly larger sum. Personal Bankers with one to two decades of relevant experience report an average salary of approximately $38K. Personal Bankers who surpass 20 years on the job report pay that isn't as high as one would expect; the median compensation for this crowd sits around $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 (+10 percent), Miami (+9 percent), and Chicago (+8 percent). Denver is the lowest-paying area, 2 percent south of the national average.

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 1%

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%

Microsoft Excel
up arrow 2%

Inside Sales
up arrow 2%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 870 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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