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Private Banker Salary

A Private Banker earns an average salary of $67,626 per year. People in this job generally don't have more than 20 years' experience. A skill in Financial Advisor is associated with high pay for this job. Experience has a moderate effect on income for this job.
$41,073 - $106,700
(Median)
41K
52K
68K
86K
110K
MEDIAN: $67,625
10%
25%
50%
75%
90%

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$10.70 - $29.77
(Median)
11
17
23
30
MEDIAN: $19.00
10%
25%
75%
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
$41,073 - $106,700  
   
Bonus
$1,490 - $35,862  
Profit Sharing
$451.50 - $10,090  
Commission
$3,020 - $29,799  
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).
)
$47,026 - $131,128  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 344
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
$10.70 - $29.77  
   
Overtime
$22.09 - $42.44  
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
$1,490 - $35,862  
   
Commission
$3,020 - $29,799  
Profit Sharing
$451.50 - $10,090  
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).
)
$47,026 - $131,128  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 19
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.

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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.

Private Banker Job Listings

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Popular Employer Salaries for Private Banker

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

Experience Affects Private Banker Salaries

Late-Career
up arrow 36%

Experienced
up arrow 23%


National Average
$79,000

Entry-Level
up arrow 17%

Skills That Affect Private Banker Salaries

Financial Advisor
up arrow 20%

Customer Relationship Management (CRM)
up arrow 3%

National Average
$79,000

Sales
up arrow 1%

Consumer Loans
up arrow 4%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 80 votes.

Gender

Female
42 %
Male
58 %

Years of Experience

Less than 1 year
2%
1-4 years
24%
5-9 years
36%
10-19 years
27%
20 years or more
10%

Common Health Benefits

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