Private Banker Salary

A Private Banker earns an average salary of $68,638 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, Investment Management, and Investment Planning. Experience has a moderate effect on income for this job.
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$37,571 - $112,380
$38K
$70K
$110K
MEDIAN: $69,518
10%
50%
90%

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$14.82 - $33.33
$15
$18
$33
MEDIAN: $18.23
10%
50%
90%

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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$50K$100K$150K
Salary
$37,571 - $112,380  
   
Bonus
$1,521 - $40,684  
Profit Sharing
$102.13 - $10,161  
Commission
$8,000 - $50,189  
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).
)
$46,541 - $133,567  
Country: United States | Currency: USD | Updated: 4 May 2017 | Individuals Reporting: 343
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$25$50$75
Hourly Rate
$14.82 - $33.33  
   
Overtime
$33.53  
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$50K$100K$150K
Bonus
$1,521 - $40,684  
   
Commission
$8,000 - $50,189  
Profit Sharing
$102.13 - $10,161  
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).
)
$46,541 - $133,567  
Country: United States | Currency: USD | Updated: 4 May 2017 | Individuals Reporting: 44

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United States (change)

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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

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

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Pay by Experience Level for Private Banker

Pay by Experience for a Private Banker has a positive trend. An entry-level Private Banker with less than 5 years of experience can expect to earn an average total compensation of $69,000 based on 138 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Private Banker with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $77,000 based on 160 salaries. An experienced Private Banker which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $93,000 based on 139 salaries. A Private Banker with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $112,000 based on 39 salaries.

Pay Difference by Location

National Average: $82,762

Larger city markers indicate a job is popular in that location.

Related Job Salaries

Key Stats for Private Banker

Gender

Female
36 %
Male
64 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 61 votes.
Less than 1 year
2%
1-4 years
22%
5-9 years
33%
10-19 years
32%
20 years or more
11%
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Location:
Years in Fields/Career:
United States (change)

Experience Affects Private Banker Salaries

▲35%

▲12%

National Average
$83,000

▼7%

▼17%

Skills That Affect Private Banker Salaries

lending
▲103%

Investment Management
▲21%


Financial Advisor
▲8%


▲5%

▲3%

National Average
$83,000

Consumer Loans
▼3%

Customer Service
▼14%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 61 votes.

Gender

Female
36 %
Male
64 %

Years of Experience

Less than 1 year
2%
1-4 years
22%
5-9 years
33%
10-19 years
32%
20 years or more
11%

Common Health Benefits

medical benefits
Medical: 90%
dental benefits
Dental: 86%
vision benefits
Vision: 79%
no benefits
None: 8%
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