Relationship Banker Salary

Relationship Bankers aren't exactly in the most profitable line of business; these folks earn a belt-tightening average of $37K per year. Total cash earnings of Relationship Bankers range from $29K on the low end to $58K on the high end; the final amount can include bonuses and profit sharing proceeds that occasionally exceed $12K and $18K, respectively. The most important factor affecting compensation for this group is geography, followed by career duration and the individual firm. Work is reasonably fulfilling for most Relationship Bankers — the majority report average levels of job satisfaction. In this profession, a large number enjoy medical and dental coverage, and a fair number have vision insurance, as well. Women Relationship Bankers who took the survey just slightly outnumber men. This overview is based on answers to PayScale's salary questionnaire.
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$30,401 - $56,961
(Median)
$30K
$37K
$57K
MEDIAN: $37,102
10%
50%
90%

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$12.68 - $19.78
(Median)
$13
$16
$20
MEDIAN: $15.00
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$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
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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 sometimes assume positions such as Banking Branch Managers. That role pays $51K per year on average.

Relationship Banker Job Listings

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Popular Employer Salaries for Relationship Banker


J.P. Morgan Chase & Co. (JPMCC), Chase Bank, Capital One Financial Corp, BB&T Corp., and Bank of America Corp. (BOFA) are top-notch employers for Relationship Bankers in this area. Although the highest salaries can be found at J.P. Morgan Chase & Co. (JPMCC) where median pay is $45K, there is little variation in compensation; paychecks are spread only between $34K and $57K. Soaring salaries can also be found at Chase Bank, Capital One Financial Corp, and Wells Fargo Bank, where earnings of $45K, $41K, or $39K are standard for Relationship Bankers.

Although Bank of America Corp. (BOFA) hands out the lowest average salary in town at $33K, employee compensation still varies greatly; workers can make as little as $29K or as much as $58K. M & T Bank, M&T Bank Corp, and First Niagara Bank also scrape the bottom of the pay scale, with median earnings hovering around $34K, $35K, and $35K.

Popular Skills for Relationship Banker


Relationship Bankers usually report a few specific skills. Most notably, skills in Sales, Customer Relations, Customer Relationship Management, and Customer Service are correlated to pay that is above average. At the other end of the pay range are skills like 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.


More years of relevant experience do not necessarily translate to higher paychecks. The average inexperienced worker's salary is approximately $37K, and people with five to 10 years of experience bring in more at around $41K on average. Relationship Bankers claiming one to two decades of experience make an estimated median of $43K. In the end, the overall pattern seems to be that more experience generally corresponds to higher pay; a Relationship Banker with more than 20 years of experience can earn $53K on average.

Pay Difference by Location

National Average: $39,196

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

For Relationship Bankers, New York provides a pay rate that is 25 percent greater than the national average. Relationship Bankers will also find cushy salaries in Los Angeles (+24 percent), Seattle (+22 percent), Dallas (+17 percent), and Phoenix (+16 percent). In New Orleans, salaries are 17 percent below the national average and represent the lowest-paying market. Not at the bottom but still paying below the median are employers in Rochester and Virginia Beach (12 percent lower and 10 percent lower, respectively).

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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%
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