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Relationship Banker Salary

Relationship Bankers aren't exactly in the most profitable line of business; these folks earn a belt-tightening average of $39K per year. In the world of Relationship Bankers, overall cash earnings stretch from $29K near the bottom to $66K near the top; these packages encompass bonuses that run close to $15K and profit sharing that can (albeit rarely) exceed $29K, along with commissions approaching $18K. Compensation for this group is mainly affected by location, but experience level and the specific company are influential factors as well. A large number enjoy medical and dental coverage in this occupation, and a fair number get vision benefits. For the most part, Relationship Bankers enjoy their work and report high levels of job satisfaction. Men are slightly outnumbered by their female counterparts who answered the questionnaire, who make up a slight majority at 53 percent. This overview is based on answers to PayScale's salary questionnaire.
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$29,526 - $72,984
(Median)
$30K
$39K
$73K
MEDIAN: $38,627
10%
50%
90%

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$11.88 - $20.42
(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$25K$50K$75K
Salary
$29,526 - $72,984  
   
Bonus
$0.00 - $14,795  
Profit Sharing
$-0.49 - $29,087  
Commission
$1,001 - $18,383  
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).
)
$28,638 - $66,329  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 433
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$12$24$36
Hourly Rate
$11.88 - $20.42  
   
Overtime
$13.25 - $30.66  
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$24K$48K$72K
Bonus
$0.00 - $14,795  
   
Commission
$1,001 - $18,383  
Profit Sharing
$-0.49 - $29,087  
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).
)
$28,638 - $66,329  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 195
United States (change)

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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For Relationship Bankers, career progression typically leads to a rather large increase in compensation. On average, an upper-level role like a Banking Branch Manager will earn $51K annually.

Relationship Banker Job Listings

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Popular Employer Salaries for Relationship Banker


J.P. Morgan Chase & Co. (JPMCC), Capital One Financial Corp, BB&T Corp., Chase Bank, and M&T Bank Corp are among the top companies that take on many Relationship Bankers. Relationship Bankers flock to J.P. Morgan Chase & Co. (JPMCC) for generous paychecks, where average earnings of $45K lead the pack in compensation; however, J.P. Morgan Chase & Co. (JPMCC) also provides employees with a wide spectrum of compensation ranging from $34K at one end to $76K at the other end. Other employers shelling out big bucks include Chase Bank, Wells Fargo Bank, and Capital One Financial Corp, where Relationship Bankers typically earn around $43K, $39K, or $38K, respectively.

M&T Bank Corp offers the lowest pay in the field with a median salary of just $35K. There's also little variation in pay at the company, with pay ranging from $27K to $44K. First Niagara Bank, BB&T Corp., and Capital One Financial Corp also scrape the bottom of the pay scale, with typical earnings hovering around $35K, $36K, and $38K.

Popular Skills for Relationship Banker


Survey takers who work as Relationship Bankers usually report a few specific skills. Fortunate workers who know Customer Relationship Management command much higher paychecks, scoring salaries 49 percent above average. Those proficient in Customer Service are, more often than not, 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.


Relationship Bankers with a lot of experience tend to enjoy higher earnings. Someone who has worked for fewer than five years earns around $37K on average. Individuals with five to 10 years of experience don't get much more, though; the average income in this group is $40K. Relationship Bankers who work for 10 to 20 years in their occupation tend to earn about $46K. Average wages for folks with more than 20 years of experience come out to around $56K.

Pay Difference by Location


For Relationship Bankers, Los Angeles provides a pay rate that is 44 percent greater than the national average. Relationship Bankers will also find cushy salaries in New York (+33 percent), Seattle (+31 percent), Dallas (+10 percent), and Washington (+6 percent). With compensation 6 percent below the national average, Virginia Beach is not known for hefty paychecks and actually represents the lowest-paying market. Workers in Miami and San Diego earn salaries that trail the national average for those in this profession (5 percent less and 2 percent less, respectively).

Related Job Salaries

Experience Affects Relationship Banker Salaries

Late-Career
up arrow 40%



National Average
$40,000


Skills That Affect Relationship Banker Salaries

Customer Relationship Management (CRM)
up arrow 49%

Customer Relations
up arrow 2%

Sales
up arrow 1%

National Average
$40,000

Customer Service
up arrow 1%

Job Satisfaction

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

Gender

Female
53 %
Male
47 %

Years of Experience

Less than 1 year
4%
1-4 years
43%
5-9 years
31%
10-19 years
16%
20 years or more
6%

Common Health Benefits

medical benefits Medical: 89% dental benefits Dental: 84%
vision benefits Vision: 71% employee benefits None: 9%