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Private Banker Salary (United States)

A Private Banker earns an average salary of $66,619 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.
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%
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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
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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.

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

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.

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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%