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Personal Banker Salary

Personal Bankers in the United States can expect only a modest salary, with average pay of just $35K per year. Final cash compensation to Personal Bankers varies from around $26K to approximately $46K; choice pay grades include potential for bonuses and profit sharing as high as $8K and $3K, respectively. The most important factor affecting compensation for this group is the company, followed by the particular city and experience level. Job satisfaction is high and work is enjoyable for most Personal Bankers. Men are slightly outnumbered by their female counterparts who answered the questionnaire, who make up a slight majority at 55 percent. A large number report receiving medical coverage from their employers and a fair number collect dental insurance. Respondents to the PayScale salary survey provided the data for this report.

$28,309 - $43,703
(Median)
$28K
$35K
$44K
MEDIAN: $34,562
10%
50%
90%

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$11.56 - $18.91
(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
$28,309 - $43,703  
   
Bonus
$0.00 - $7,874  
Profit Sharing
$339.35 - $3,027  
Commission
$904 - $11,982  
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).
)
$26,082 - $45,790  
Country: United States | Currency: USD | Updated: 2 May 2015 | Individuals Reporting: 3,034
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
$11.56 - $18.91  
   
Overtime
$15.86 - $29.07  
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 - $7,874  
   
Commission
$904 - $11,982  
Profit Sharing
$339.35 - $3,027  
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).
)
$26,082 - $45,790  
Country: United States | Currency: USD | Updated: 2 May 2015 | Individuals Reporting: 2,659

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United States (change)


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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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Though some Personal Bankers move into positions like Private Banker (where the average salary is $78K), this progression is not the norm. Career advancement for the typical Personal Banker often leads to becoming a Banking Branch Manager or an Assistant Branch Manager of Banking; median salaries in these positions are $16K higher and $3K higher, respectively.

Personal Banker Job Listings

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Popular Employer Salaries for Personal Banker


Leading companies who hire large numbers of Personal Bankers include Wells Fargo Bank, Bank of America Corp. (BOFA), J.P. Morgan Chase & Co. (JPMCC), Chase Bank, and U.S. Bank. Citibank pays the most with a median salary of $42K, though there is little variation overall ($32K to $55K). J.P. Morgan Chase & Co. (JPMCC), KeyBank, and Bank of America Corp. (BOFA) are a few other companies that offer generous salaries, with Personal Bankers earning around $40K, $40K, or $39K at each firm, respectively.

The smallest paychecks in the field are found at Woodforest National Bank, where the median salary is a mere $24K, 72 percent lower than the top payer. Other low-paying employers include U.S. Bank at $31K and The PNC Financial Services Group, Inc. at $31K, though some Personal Bankers there earn up to $43K.

Popular Skills for Personal Banker


Personal Bankers seem to require a rather large skill set. 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.


For many Personal Bankers, extensive experience does not lead to significantly more money. Although individuals who have less than five years' experience earn $34K on average, people with five to 10 years benefit from a notably larger average of $37K. People with 10 to 20 years of experience make an average of about $38K in this role. Personal Bankers who have acquired more than two decades of experience generally do see greater compensation; their average income is approximately $39K.

Pay Difference by Location


With a pay rate for Personal Bankers that is 24 percent greater than the national average, New York offers a comfortable salary for those in this profession. Personal Bankers will also find cushy salaries in San Francisco (+21 percent), Los Angeles (+11 percent), Miami (+11 percent), and San Diego (+6 percent). Denver is the lowest-paying area, 6 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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United States (change)

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%

Account Management
up arrow 2%

Consumer Loans
up arrow 1%

Account Sales
up arrow 1%

Customer Relations
0%

Problem Solving
0%

National Average
$35,000

Customer Service
up arrow 1%

Loan Processing
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 984 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
11%
20 years or more
4%

Common Health Benefits

medical benefits Medical: 85% dental benefits Dental: 78%
vision benefits Vision: 64% employee benefits None: 12%
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