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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$37,752 - $116,148
$38K
$70K
$120K
MEDIAN: $70,216
10%
50%
90%

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

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$0$136K
Salary $37,752 - $116,148
Bonus $1,543 - $40,803
Profit Sharing $50.00 - $10,113
Commission $9,967 - $49,945
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).
)
$46,174 - $136,345
  • Country: United States
  • Currency: USD
  • Updated: 25 Jul 2017
  • Individuals Reporting: 345
Hourly Data $0$60
Hourly Rate $14.82 - $33.33
Overtime $22.15 - $60.89
Annual Data $0$136K
Bonus $1,543 - $40,803
Commission $9,967 - $49,945
Profit Sharing $50.00 - $10,113
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).
)
$46,174 - $136,345
  • Country: United States
  • Currency: USD
  • Updated: 25 Jul 2017
  • Individuals Reporting: 44

Find Out Exactly What You Should Be Paid

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

  • 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.

Private Banker Job Listings

Popular Employer Salaries for Private Banker

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: $82,029

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

Private Banker Reviews

Q: What is it like working as a Private Banker?

Private Banker in Klerksdorp:
"You have to be very knowledgable."
Pros: Flexibility, challenging,
Cons: Arrogant clients. Bit stressing at times.

Private Banker in Livermore:
"Great."
Pros: I like that I'm constantly using my brain.
Cons:

Related Job Salaries

Key Stats for Private Banker

Gender

Female
34 %
Male
66 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 68 votes.
Less than 1 year
2%
1-4 years
22%
5-9 years
32%
10-19 years
33%
20 years or more
12%
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Location:
Years in Fields/Career:
United States (change)

Experience Affects Private Banker Salaries

▲37%

▲13%

National Average
$82,000

▼6%

▼16%

Skills That Affect Private Banker Salaries

lending
▲105%

Investment Management
▲22%


Financial Advisor
▲9%


▲6%

▲4%

National Average
$82,000

Consumer Loans
▼2%

Customer Service
▼13%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 68 votes.

Gender

Female
34 %
Male
66 %

Years of Experience

Less than 1 year
2%
1-4 years
22%
5-9 years
32%
10-19 years
33%
20 years or more
12%

Common Health Benefits

medical benefits
Medical: 91%
dental benefits
Dental: 87%
vision benefits
Vision: 81%
no benefits
None: 7%
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