Relationship Banker Salary

Those pursuing careers as Relationship Bankers in the United States may have to make do with less; average incomes for people in this area hover around only $38K per year. Total cash compensation to Relationship Bankers approaches anywhere from $29K on the lower end to $59K on the higher end; in exceptional cases, this can include more than $12K from bonuses and upwards of $23K from profit sharing. The most important factor affecting compensation for this group is location, followed by career duration and the individual firm. Most workers in this position report moderate levels of job satisfaction. A large number enjoy medical and dental coverage in this occupation, and a fair number get vision benefits. Men are slightly outnumbered by their female counterparts who answered the questionnaire, who make up a slight majority at 54 percent. The numbers in this rundown were provided by PayScale's salary survey participants.
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$30,339 - $58,763
(Median)
$30K
$38K
$59K
MEDIAN: $38,410
10%
50%
90%

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$12.30 - $19.82
(Median)
$12
$16
$20
MEDIAN: $15.00
10%
50%
90%

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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$20K$40K$60K
Salary
$30,339 - $58,763  
   
Bonus
$0.00 - $12,231  
Profit Sharing
$-0.49 - $22,510  
Commission
$989 - $18,183  
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).
)
$29,042 - $59,032  
Country: United States | Currency: USD | Updated: 2 Jul 2015 | Individuals Reporting: 535
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$11$22$33
Hourly Rate
$12.30 - $19.82  
   
Overtime
$16.69 - $30.06  
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$22K$44K$66K
Bonus
$0.00 - $12,231  
   
Commission
$989 - $18,183  
Profit Sharing
$-0.49 - $22,510  
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).
)
$29,042 - $59,032  
Country: United States | Currency: USD | Updated: 2 Jul 2015 | Individuals Reporting: 267
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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.

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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


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Relationship Bankers often transition into Banking Branch Manager positions, for which compensation tends to be much higher. On average, Banking Branch Managers earn $51K per year.

Relationship Banker Job Listings

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Popular Employer Salaries for Relationship Banker


Relationship Bankers fill the offices of leading firms J.P. Morgan Chase & Co. (JPMCC), Chase Bank, Capital One Financial Corp, BB&T Corp., and Bank of America Corp. (BOFA). J.P. Morgan Chase & Co. (JPMCC) offers the best pay with a median salary of $45K, though salaries there don't seem that varied, bottoming out near $35K and maxing out at just $60K. Other leaders in compensation levels are Chase Bank at $43K, Capital One Financial Corp at $41K, and Wells Fargo Bank, where Relationship Bankers annually earn $39K.

M&T Bank Corp offers the least pay with a median salary of $33K; furthermore, salaries there max out at only $44K. Employees at Bank of America Corp. (BOFA), M & T Bank, and First Niagara Bank can also expect below-average earnings of $33K, $34K, and $35K.

Popular Skills for Relationship Banker


Just a handful of professional skills are reported by Relationship Bankers who took the survey. Fortunate workers who know Customer Relationship Management command much higher paychecks, scoring salaries 27 percent above average. The majority of those who know Customer Service also know Customer Relations.

Pay by Experience Level for Relationship Banker

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


Relationship Bankers with more experience do not necessarily bring home bigger paychecks. In fact, experience in this field tends to impact compensation minimally. Those who have worked for fewer than five years take home a median salary of $37K, and workers with five to 10 years of experience earn a higher $41K on average. Relationship Bankers with one to two decades of relevant experience report an average salary of approximately $44K. Relationship Bankers who have acquired more than two decades of experience generally do see greater compensation; their average income is approximately $53K.

Pay Difference by Location


For those looking to make money, Relationship Bankers in Los Angeles enjoy an exceptional pay rate, 30 percent above the national average. Relationship Bankers will also find cushy salaries in New York (+29 percent), Seattle (+26 percent), Dallas (+15 percent), and Phoenix (+13 percent). The lowest-paying market is Virginia Beach, which sits 11 percent below the national average. Employers also pay below the national average in Tampa (8 percent lower) and Miami (6 percent lower).

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Experience Affects Relationship Banker Salaries




National Average
$40,000


Skills That Affect Relationship Banker Salaries

Customer Relationship Management (CRM)
up arrow 27%

Customer Relations
up arrow 2%

Sales
up arrow 1%

Customer Service
0%

Banking
0%

National Average
$40,000

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 120 votes.

Gender

Female
54 %
Male
46 %

Years of Experience

Less than 1 year
4%
1-4 years
45%
5-9 years
30%
10-19 years
16%
20 years or more
5%

Common Health Benefits

medical benefits Medical: 90% dental benefits Dental: 86%
vision benefits Vision: 75% employee benefits None: 9%
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