Commercial Banker Salary

Many financial institutions work with businesses and corporate clients in addition to individuals, and the person responsible for handling corporate clients is a commercial banker. These specialized bankers maintain and build existing relationships with business clients, while also actively marketing the institution’s services to attract new commercial clients.

For businesses, money management is an essential task. While businesses may leave large lump sums in accounts, most companies prefer to invest their profits and use small revolving credit lines to handle routine cash outlays. Commercial bankers handle these accounts for companies and help these businesses invest profits wisely while maintaining ready access to needed funds in a flexible way.

Additionally, commercial bankers facilitate larger loans and financing for capital improvements, building new facilities, and renovating existing space. In these cases, the commercial banker researches the best interest rate for their clients and works within the client's needs to ensure loans are approved if possible. Commercial bankers may also be the point person to help manage employee retirement accounts and pensions for businesses as well.

Most banks prefer commercial bankers who possess at least a bachelor's degree business, finance, or a related field. Relevant experience is generally required or preferred as well. Commercial bankers typically work during regular business hours, but they may spend time outside these hours and outside the bank itself promoting and marketing the institution to prospective clients. (Copyright 2017 PayScale.com)

Commercial Banker Tasks

• Develop and expand commercial client relationships, as well as cross sell existing clients.
• Participate in the business development activities of the bank.
• Grow deposits, loans, and fee income in a profitable manner.
• Sell full range of commercial banking services to client base.
• Originate, negotiate, and close commercial loans.

With a pay rate for Commercial Bankers that is 88 percent greater than the national average, Boston offers a comfortable salary for those in this profession. Commercial Bankers will also find cushy salaries in New York (+58 percent), Jacksonville (+53 percent), Seattle (+51 percent), and Louisville (+34 percent). One of the biggest compensable factors for Commercial Bankers is geography, with workers in Honolulu earning a whopping 34 percent below the national average. Workers in Chicago and Kansas City earn salaries that trail the national average for those in this profession (34 percent less and 33 percent less, respectively).