Relationship Banker Salary

Relationship Bankers aren't exactly in the most profitable line of business; these folks earn a belt-tightening average of $38K per year. With some bonuses approaching $12K and certain profit sharing proceeds approaching $19K, overall incomes of Relationship Bankers spread between $29K and $59K depending on individual performance. The most important factor affecting compensation for this group is geography, followed by experience level and the specific company. Women make up a slight majority of Relationship Bankers (53 percent) survey respondents. A large number receive medical and dental insurance and a fair number get vision insurance. The majority of Relationship Bankers claim high levels of job satisfaction. This report is based on answers to PayScale's salary questionnaire.
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$30,351 - $59,042
(Median)
$30K
$38K
$59K
MEDIAN: $38,349
10%
50%
90%

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$12.29 - $19.93
(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
$30,351 - $59,042  
   
Bonus
$0.00 - $12,325  
Profit Sharing
$2.25 - $19,000  
Commission
$1,002 - $19,489  
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 - $59,352  
Country: United States | Currency: USD | Updated: 20 Jun 2015 | Individuals Reporting: 537
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
$12.29 - $19.93  
   
Overtime
$16.82 - $30.45  
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 - $12,325  
   
Commission
$1,002 - $19,489  
Profit Sharing
$2.25 - $19,000  
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).
)
$29,042 - $59,352  
Country: United States | Currency: USD | Updated: 20 Jun 2015 | Individuals Reporting: 265
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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 might see a strong upturn in salary after transitioning into upper-level roles such as Banking Branch Manager, a seemingly popular career choice. People currently working in the latter position report a noticeably higher median income of $51K per year.

Relationship Banker Job Listings

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Popular Employer Salaries for Relationship Banker


Known for taking on a considerable number of Relationship Bankers, J.P. Morgan Chase & Co. (JPMCC), Chase Bank, Capital One Financial Corp, BB&T Corp., and Bank of America Corp. (BOFA) are leading firms in the industry. J.P. Morgan Chase & Co. (JPMCC) offers the best pay with a median salary of $46K, though salaries there don't seem that varied, bottoming out near $35K and maxing out at just $60K. Other employers shelling out big bucks include Chase Bank, Capital One Financial Corp, and Wells Fargo Bank, where Relationship Bankers typically earn around $44K, $41K, or $39K, respectively.

The lowest salaries can be found at Bank of America Corp. (BOFA) — median pay is $33K — and there is little variation in compensation, with paychecks starting at $28K and only reaching $40K. 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


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 31 percent above average. 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 with a lot of experience do not necessarily enjoy more money. Workers with less than five years' experience earn around $37K on average, and those who have five to 10 years under their belts see a higher median salary of $41K. For Relationship Bankers, 10 to 20 years of experience on the job amounts to an average salary of $44K. Survey participants who have spent more than 20 years on the job report a predictably higher median income of $53K, demonstrating that compensation is roughly commensurate with experience in the end.

Pay Difference by Location


Home to some of the best pay for Relationship Bankers, Los Angeles offers exceptional salaries, 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 (+12 percent). Those in the field find the lowest salaries in Virginia Beach, 12 percent below the national average. Employers also pay below the national average in Rochester (6 percent lower) and Orlando (3 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 31%

Sales
up arrow 2%

Customer Relations
up arrow 2%

Customer Service
0%

National Average
$40,000

Banking
up arrow 1%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 124 votes.

Gender

Female
53 %
Male
47 %

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: 85%
vision benefits Vision: 75% employee benefits None: 9%
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