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. The range in cash compensation to Relationship Bankers (largely between $29K and $53K) includes potential earnings of $12K from bonuses, $10K from profit sharing, and commissions of $15K in exceptional cases. This group's pay is mainly influenced by the company, followed by geography and tenure. Most Relationship Bankers are fairly content with their jobs, and work satisfaction falls in line with the national average. Most report receiving medical coverage from their employers and a large number collect dental insurance. Men are slightly outnumbered by their female counterparts who answered the questionnaire, who make up a slight majority at 57 percent. Respondents to the PayScale salary survey provided the data for this report.
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$30,365 - $50,674
$30K
$37K
$51K
MEDIAN: $36,877
10%
50%
90%

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$13.14 - $19.79
$13
$16
$20
MEDIAN: $15.84
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$18K$36K$54K
Salary
$30,365 - $50,674  
   
Bonus
$513 - $11,866  
Profit Sharing
$0.00 - $9,696  
Commission
$1,004 - $15,272  
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).
)
$29,298 - $52,739  
Country: United States | Currency: USD | Updated: 25 Mar 2017 | Individuals Reporting: 490
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$11$22$33
Hourly Rate
$13.14 - $19.79  
   
Overtime
$18.96 - $30.27  
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$22K$44K$66K
Bonus
$513 - $11,866  
   
Commission
$1,004 - $15,272  
Profit Sharing
$0.00 - $9,696  
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).
)
$29,298 - $52,739  
Country: United States | Currency: USD | Updated: 25 Mar 2017 | Individuals Reporting: 450

Find Out Exactly What You Should Be Paid

United States (change)

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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

  • 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.
  • Authorize, approve, and research transactions; perform overrides, approve check holds, and make check cashing decisions.
  • 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.

Common Career Paths for Relationship Banker


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For Relationship Bankers, progressing to a Private Banker role may result in a significant raise. On average, a Private Banker can earn $79K annually. Relationship Bankers moving up in their careers tend to step into positions as Banking Branch Managers or Assistant Branch Managers of Banking. The median paychecks in those roles are $14K higher and $1K higher, respectively.

Relationship Banker Job Listings

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Popular Employer Salaries for Relationship Banker


Well-known firms with a reputation for hiring numerous Relationship Bankers include Bank of America Corp. (BOFA), J.P. Morgan Chase & Co. (JPMCC), Chase Bank, M&T Bank Corp, and BB&T Corp. Union Bank leads the field in terms of pay, with a median salary of $49K. Other employers shelling out big bucks include J.P. Morgan Chase & Co. (JPMCC), Chase Bank, and Capital One Financial Corp, where Relationship Bankers typically earn around $46K, $45K, or $41K, respectively.

Workers at M & T Bank, M&T Bank Corp, and Bank of America Corp. (BOFA) also face smaller salaries than the rest of the field — average earnings for each of these employers come to $34K.

Popular Skills for Relationship Banker


Relationship Bankers report using a diverse set of skills on the job. Most notably, skills in Operations Management, Customer Relationship Management, Team Leadership, and Sales are correlated to pay that is above average. Skills that pay less than market rate include Customer Service. Most people familiar with 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 do not generally earn higher incomes from more experience in the field. Average salaries for inexperienced employees average out to around $36K, but folks who have five to 10 years of experience earn a higher median of $41K. Relationship Bankers with one to two decades of relevant experience report an average salary of approximately $42K. Relationship Bankers who have acquired more than two decades of experience generally do see greater compensation; their average income is approximately $48K.

Pay Difference by Location

National Average: $38,066

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

Surpassing the national average by 28 percent, Relationship Bankers in San Francisco receive some of the highest pay in the country. Relationship Bankers can also look forward to large paychecks in cities like New York (+26 percent), Los Angeles (+21 percent), Portland (+14 percent), and Houston (+12 percent). Rochester is the lowest-paying area, 12 percent south of the national average. Employers pay around 8 percent less in Virginia Beach and 6 percent less in Tulsa, below-median salaries for those in this field.

Relationship Banker Reviews

Q: 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

Key Stats for Relationship Banker

Gender

Female
57 %
Male
43 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 112 votes.
Less than 1 year
6%
1-4 years
49%
5-9 years
24%
10-19 years
16%
20 years or more
5%
Location:
Years in Fields/Career:
United States (change)

Experience Affects Relationship Banker Salaries

▲27%

▲10%

▲8%

National Average
$38,000

▼6%

Skills That Affect Relationship Banker Salaries

Operations Management
▲8%


Team Leadership
▲2%

Sales
▼0%

Customer Relations
▼0%

National Average
$38,000

▼2%

Bilingual
▼2%


Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 112 votes.

Gender

Female
57 %
Male
43 %

Years of Experience

Less than 1 year
6%
1-4 years
49%
5-9 years
24%
10-19 years
16%
20 years or more
5%

Common Health Benefits

medical benefits
Medical: 89%
dental benefits
Dental: 82%
vision benefits
Vision: 72%
dental benefits
None: 9%
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