Get a Salary Report for



- Compare Your Salary
- Evaluate a Job Offer


- Price a New Hire
- Give a Raise



- Benchmark Jobs
- Create a Comp Plan

Private Banker Salary (United States)

Private Bankers in the United States can expect to earn an average of $67K per year. In the world of Private Bankers, overall cash allowance can occasionally include more than $36K from bonuses and, in some exceptional cases, $10K from profit sharing, causing incomes to vary widely between $47K and $127K. This group's pay is mainly influenced by career duration, followed by the particular city and the individual firm. Almost all workers report receiving medical coverage from their employers and a strong majority collect dental insurance. Women are just slightly outnumbered, with male Private Bankers making up 57 percent of workers. Work is enjoyable for Private Bankers, who typically claim high levels of job satisfaction. This report is based on responses to the PayScale salary survey.
Private Banker Salary (?
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.
)
$40,901 - $102,489
(Median)
41K
51K
67K
85K
100K
MEDIAN: $66,618
10%
25%
50%
75%
90%
Add this chart to your site: 640px    300px
Private Banker Salary (?
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.
)
$10.63 - $27.18
(Median)
11
17
19
22
27
MEDIAN: $19.00
10%
25%
50%
75%
90%
Add this chart to your site: 640px    300px

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
$40,901 - $102,489  
   
Bonus
$1,226 - $35,895  
Profit Sharing
$446.98 - $9,933  
Commission
$3,091 - $43,631  
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).
)
$47,214 - $127,136  
Country: United States | Currency: USD | Updated: 3 Sep 2014 | Individuals Reporting: 333
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
$10.63 - $27.18  
   
Overtime
$21.93 - $42.62  
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
$1,226 - $35,895  
   
Commission
$3,091 - $43,631  
Profit Sharing
$446.98 - $9,933  
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).
)
$47,214 - $127,136  
Country: United States | Currency: USD | Updated: 3 Sep 2014 | Individuals Reporting: 18
Is Private Banker your job title? Get a personalized salary report!
Location:
Years in Field/Career:
Location:
Years in Field/Career:
United States (change)

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.
Read More...
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.

Private Banker Job Listings

Search for more jobs:
job title / company
location

Popular Employer Salaries for Private Banker

Private Bankers flock to Wells Fargo & Co. for generous paychecks, where average earnings of $83K lead the pack in compensation.
Employees at J.P. Morgan Chase & Co. (JPMCC) can also expect below-average earnings.

Popular Skills for Private Banker

Survey results show that Private Bankers typically report just a few professional skills. Most notably, facility with Financial Advisor and Customer Relationship Management (CRM) are correlated to pay that is significantly above average, leading to increases of 21 percent and 4 percent, respectively. Sales is a skill commonly found among those who know Customer Relationship Management.

Pay by Experience Level for Private Banker

Median of all compensation (including tips, bonus, and overtime) by years of experience.
Private Bankers generally obtain higher compensation for more plentiful past experience. Relatively untried employees who have less than five years' experience make $64K, but folks with five to 10 years under their belts enjoy an appreciably larger median of $78K. For Private Bankers, 10 to 20 years of experience on the job amounts to an average salary of $95K. Individuals who report more than two decades of experience seem to make only slightly more than folks in the 10-to-20 year range; the more senior group sees median earnings in the comparatively modest ballpark of $105K. Most employees in this workforce have between one and nine years of experience; more than half of those surveyed fall within this distribution. Experienced employees who have 10-20 years of experience make up nearly one in four of the workforce; inexperienced individuals who have been working for less than one year comprise fewer than one in twenty, and senior people with more than 20 years under their belt fill out the remaining nearly one-eighth.

Pay Difference By Location

Chicago
up arrow 18%
New York
up arrow 10%
Miami
up arrow 9%
Los Angeles
up arrow 3%
National Average
$78,000
San Jose
up arrow 6%
San Francisco
up arrow 25%
Larger circles over a city indicate a job is popular in that location.
For Private Bankers, working in the bustling city of Chicago has its advantages, including an above-average pay rate. Private Bankers will also find cushy salaries in New York (+10 percent) and Miami (+9 percent). One of the biggest compensable factors for Private Bankers is geography, with workers in San Francisco earning a whopping 25 percent below the national average.

Related Job Salaries

Find Out Exactly What You Should Be Paid
Job Title:
Years in Field/Career:
Location:
United States (change)
- OR -

Experience Affects Private Banker Salaries

Late-Career
up arrow 34%
Experienced
up arrow 22%
National Average
$78,000
Entry-Level
up arrow 18%

Skills That Affect Private Banker Salaries

Financial Advisor
up arrow 21%
Customer Relationship Management (CRM)
up arrow 4%
National Average
$78,000
Sales
up arrow 1%

Job Satisfaction

Extremely satisfied Image
Extremely satisfied
Rated 5 out of 5 based on 77 votes.

Gender

Female
43%
female alumni
 
Male
57%
male alumni

Years of Experience

Less than 1 year
2%
1-4 years
24%
5-9 years
37%
10-19 years
25%
20 years or more
12%

Common Health Benefits

medical benefits Medical: 90% dental benefits Dental: 85%
vision benefits Vision: 71% employee benefits None: 8%