Private Banker Salary

A Private Banker earns an average salary of $67,385 per year. People in this job generally don't have more than 20 years' experience. The skills that increase pay for this job the most are lending and Financial Advisor. Experience has a moderate effect on income for this job.
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$40,133 - $108,719
(Median)
$40K
$67K
$110K
MEDIAN: $67,384
10%
50%
90%

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$10.40 - $29.85
(Median)
$10
$19
$30
MEDIAN: $19.00
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$50K$100K$150K
Salary
$40,133 - $108,719  
   
Bonus
$1,445 - $36,766  
Profit Sharing
$442.19 - $10,000  
Commission
$5,068 - $39,453  
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).
)
$46,355 - $130,232  
Country: United States | Currency: USD | Updated: 31 Mar 2015 | Individuals Reporting: 365
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$25$50$75
Hourly Rate
$10.40 - $29.85  
   
Overtime
$20.97 - $43.34  
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$50K$100K$150K
Bonus
$1,445 - $36,766  
   
Commission
$5,068 - $39,453  
Profit Sharing
$442.19 - $10,000  
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).
)
$46,355 - $130,232  
Country: United States | Currency: USD | Updated: 31 Mar 2015 | Individuals Reporting: 25

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Job Description for Private Banker

A private banker's primary responsibility is to manage the financial accounts of high-income clients. They often fulfill a variety of tasks, but a private banker’s primary responsibilities include increasing and protecting a client’s wealth through investments, as well as processing transactions such as purchasing a home and estate planning. Private bankers work alongside other financial experts such as market analysts, fund managers, and estate lawyers; however, as they function as the client’s primary point of contact, they are often also called relationship managers. Most private bankers work in private banks that cater to wealthy clients, but some are also employed by regular banks that also provide special services to high-income individuals. Even though they work in a professional, office setting during regular business hours, a a private banker must be available to respond to the needs of clients at any time of the day or night. Besides being available 24/7 to receive requests from current clients and pursuing new clients, a private banker’s typical day consists in working with his or her team of financial and legal experts to develop and implement strategies to grow and preserve the assets of their clientele.

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Private Banker Tasks

  • Recommend solutions to credit problems, approve loan requests, and assist senior lenders.
  • Monitor loan portfolio and resolve loan delinquencies, overdrafts, and loan and deposit maturities.
  • Manage full banking relationships with clients and monitor changing client needs.

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Popular Skills for Private Banker

Pay by Experience Level for Private Banker

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

Pay Difference by Location

Related Job Salaries

United States (change)

Experience Affects Private Banker Salaries

Late-Career
up arrow 39%

Experienced
up arrow 20%


National Average
$78,000

Entry-Level
up arrow 17%

Skills That Affect Private Banker Salaries

lending
up arrow 96%

Financial Advisor
up arrow 11%

Banking
up arrow 9%

Customer Relationship Management (CRM)
up arrow 2%

Sales
0%

National Average
$78,000

Consumer Loans
up arrow 7%

Customer Service
up arrow 9%

Investment Planning
up arrow 13%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 81 votes.

Gender

Female
41 %
Male
59 %

Years of Experience

Less than 1 year
2%
1-4 years
25%
5-9 years
35%
10-19 years
28%
20 years or more
9%

Common Health Benefits

medical benefits Medical: 91% dental benefits Dental: 86%
vision benefits Vision: 71% employee benefits None: 8%