Relationship Banker Salary

Relationship Bankers aren't exactly in the most profitable line of business; these folks earn a belt-tightening average of $37K annually. Cash earnings of Relationship Bankers — including $12K in bonuses, $18K in profit sharing proceeds, and $20K in commissions near the top of the pay scale — stretch from approximately $29K to approximately $58K depending on individual performance. Location is the main element affecting pay for this group — experience level and the individual firm are driving factors as well. Most people on this career path report moderate levels of job satisfaction. Men are slightly outnumbered by their female counterparts who answered the questionnaire, who make up a slight majority at 56 percent. Medical and dental benefits are awarded to most, and a strong majority earn vision coverage. The information for this snapshot was generated by responses to the PayScale salary survey.
Read More
$30,401 - $56,961
(Median)
$30K
$37K
$57K
MEDIAN: $37,102
10%
50%
90%

Add this chart to your site: 640px    300px

$12.68 - $19.78
(Median)
$13
$16
$20
MEDIAN: $15.00
10%
50%
90%

Add this chart to your site: 640px    300px

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$20K$40K$60K
Salary
$30,401 - $56,961  
   
Bonus
$0.44 - $12,088  
Profit Sharing
$2.25 - $17,500  
Commission
$1,009 - $20,014  
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).
)
$29,146 - $57,789  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 616
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$10$20$30
Hourly Rate
$12.68 - $19.78  
   
Overtime
$16.69 - $29.68  
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$20K$40K$60K
Bonus
$0.44 - $12,088  
   
Commission
$1,009 - $20,014  
Profit Sharing
$2.25 - $17,500  
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).
)
$29,146 - $57,789  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 362
United States (change)

Find Out Exactly What You Should Be Paid

United States (change)


Comp Managers: Start Here »

Job Description for Relationship Banker

A relationship banker is an employee of a bank or other lending institution that is responsible for dealing with customers on a one-on-one basis. This may mean being assigned specific clients or patrons and subsequently handling all transactions and assistance for them, or it may simply mean that the banker works in the front of the bank, dealing with most personal interactions that require expert help that tellers cannot provide. This is a position that has become more crucial for banks as more financial transactions have shifted to computers and technology. Customers often want to be able to speak with a person about urgent/important matters, and a relationship banker fills that role by listening to complaints or problems and offering effective solutions to resolve the situation to the satisfaction of the customer.

Read More...

Relationship Banker Tasks

  • Process a variety of teller transactions including deposits, withdrawals, payments and transfers.
  • Provide knowledge of products and services to consult with new members to identify products and services that best fit their needs.
  • Authorize, approve, and research transactions; perform overrides, approve check holds, and make check cashing decisions.
  • Qualify potential members for membership by opening checking accounts, savings accounts, IRAs, CDs, and processing loan applications.
  • Identify the needs of members by cross-selling and up-selling products and referring them to a personal banker.

Common Career Paths for Relationship Banker


Add this chart to your site:   640px 640px    300px 300px


Advancing into a Banking Branch Manager role seems to be a popular career move for Relationship Bankers, and folks who currently work in the latter position report a notably larger median income of $51K per year.

Relationship Banker Job Listings

Search for more jobs:

Popular Employer Salaries for Relationship Banker


Well-known firms with a reputation for hiring numerous Relationship Bankers include J.P. Morgan Chase & Co. (JPMCC), Chase Bank, Capital One Financial Corp, BB&T Corp., and Bank of America Corp. (BOFA). With a median salary of $45K, J.P. Morgan Chase & Co. (JPMCC) offers Relationship Bankers the highest pay. However, earnings don't seem to live on a large spectrum; they generally peter out at $34K and are capped at $57K. Chase Bank, Capital One Financial Corp, and Wells Fargo Bank also offer top salaries for Relationship Bankers. Workers at these firms can expect to earn about $45K, $41K, and $39K, respectively.

Bank of America Corp. (BOFA) is infamous for dishing out the smallest paychecks in the area (the median in that office is $33K), but the company pay scale is greatly mixed, meaning that workers on the low end may earn only $29K while workers on the upper end may rake in $58K. Also approaching the lower end are M & T Bank at $34K, M&T Bank Corp at $35K, and First Niagara Bank at $35K.

Popular Skills for Relationship Banker


Relationship Bankers report using a diverse set of skills on the job. Most notably, skills in Sales, Customer Relations, Customer Relationship Management, and Customer Service are correlated to pay that is above average. Skills that are correlated to lower pay, on the other hand, include Banking. It is often found that people who know Customer Service are also skilled in Customer Relations.

Pay by Experience Level for Relationship Banker

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


For Relationship Bankers, experience does not seem to be a major factor in determining pay. Salaries for inexperienced workers average out to $41K, and those with five to 10 years' experience earn a higher median of $37K. On average, Relationship Bankers make $43K following one to two decades on the job. As Relationship Bankers reach more than two decades on the job, compensation remains commensurate with experience; the average pay in this group is $53K.

Pay Difference by Location

National Average: $39,196

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

For Relationship Bankers, working in the bustling city of New York has its advantages, including an above-average pay rate. Relationship Bankers can also look forward to large paychecks in cities like Los Angeles (+24 percent), Seattle (+22 percent), Dallas (+17 percent), and Phoenix (+16 percent). The lowest-paying market is New Orleans, which sits 17 percent below the national average. Workers in Rochester and Virginia Beach earn salaries that trail the national average for those in this profession (12 percent less and 10 percent less, respectively).

Relationship Banker Reviews

What is it like working as a Relationship Banker?

Relationship Banker in Rhinelander:
"Entry-Level High Pressure Sales."
Pros: Nothing about my employer. Most of my customers are pleasant to deal with. I like helping them but do not want to sell them something that does not fit their needs.
Cons: I am underemployed with no room for advancement. My position is glamorized retail sales, requiring almost verbatim scripts; this is not a professional bank environment. Goals do not use demographic analysis to attain realistic quotas. In spite of building repeat relationships with clients and earning awards for top sales, my direct supervisor only focuses on the negative and micromanages (this applies to all employees). Teamwork and communication are rare and discouraged. The job duties themselves are not at all stressful but the constant negativity in our work environment is, resulting in high turnover and short-staffing.

Related Job Salaries

United States (change)

Find Out Exactly What You Should Be Paid

United States (change)


Comp Managers: Start Here »

Experience Affects Relationship Banker Salaries




National Average
$39,000


Skills That Affect Relationship Banker Salaries

Sales
up arrow 1%

Customer Relations
up arrow 1%

Customer Relationship Management (CRM)
up arrow 1%

National Average
$39,000

Customer Service
up arrow 1%

up arrow 9%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 127 votes.

Gender

Female
56 %
Male
44 %

Years of Experience

Less than 1 year
5%
1-4 years
47%
5-9 years
28%
10-19 years
15%
20 years or more
4%

Common Health Benefits

medical benefits
Medical: 89%
dental benefits
Dental: 85%
medical benefits
Vision: 74%
dental benefits
None: 9%
ADVERTISEMENT