A Private Banker earns an average salary of $69,295 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 Planning, and Investment Management. Experience has a moderate effect on income for this job.
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$37,526 - $116,914
(Median)
$38K
$69K
$120K
MEDIAN: $69,294
10%
50%
90%

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$14.73 - $31.53
(Median)
$15
$18
$32
MEDIAN: $18.00
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
$37,526 - $116,914  
   
Bonus
$1,444 - $40,471  
Profit Sharing
$500 - $12,000  
Commission
$7,397 - $49,078  
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).
)
$44,814 - $138,501  
Country: United States | Currency: USD | Updated: 28 Oct 2016 | Individuals Reporting: 324
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
$14.73 - $31.53  
   
Overtime
$34.84  
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
$1,444 - $40,471  
   
Commission
$7,397 - $49,078  
Profit Sharing
$500 - $12,000  
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).
)
$44,814 - $138,501  
Country: United States | Currency: USD | Updated: 28 Oct 2016 | Individuals Reporting: 42
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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.

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Pay by Experience Level for Private Banker

Median of all compensation (including tips, bonus, and overtime) by years of experience.

Pay Difference by Location

National Average: $81,532

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

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Experience Affects Private Banker Salaries



National Average
$82,000



Skills That Affect Private Banker Salaries

lending
up arrow 106%


Investment Management
up arrow 12%

Financial Advisor
up arrow 9%


up arrow 5%

Banking
up arrow 3%

National Average
$82,000

Consumer Loans
up arrow 2%

Customer Service
up arrow 13%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 59 votes.

Gender

Female
36 %
Male
64 %

Years of Experience

Less than 1 year
2%
1-4 years
24%
5-9 years
30%
10-19 years
34%
20 years or more
10%

Common Health Benefits

medical benefits
Medical: 91%
dental benefits
Dental: 85%
medical benefits
Vision: 78%
dental benefits
None: 7%
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