Commercial Banker Salary
Six-figure salaries are the norm for Commercial Bankers in the United States, with median pay hovering around $87K per year. Total incomes of Commercial Bankers incorporate potential for, in a few cases, more than $49K from bonuses and close to $10K from profit sharing; these performance components cause packages to range between $50K and $182K. Location and experience level each impact pay for this group, with the former having the largest influence. There are far more male Commercial Bankers survey respondents than women, making up 83 percent. Job satisfaction is high and work is enjoyable for most Commercial Bankers. Almost all enjoy medical while a large number get dental coverage. Vision coverage is also available to a fair number. Participants in PayScale's salary questionnaire provided the particulars of this report.
|Salary||$50,701 - $144,867|
|Bonus||$3,937 - $50,095|
|Profit Sharing||$0.00 - $12,164|
|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).)
|$53,994 - $187,315|
Job Description for Commercial Banker
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.Read More...
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.
Commercial Banker Job Listings
Pay by Experience Level for Commercial Banker
Pay by Experience for a Commercial Banker has a positive trend. An entry-level Commercial Banker with less than 5 years of experience can expect to earn an average total compensation of $70,000 based on 62 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Commercial Banker with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $94,000 based on 72 salaries. An experienced Commercial Banker which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $121,000 based on 89 salaries. A Commercial Banker with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $127,000 based on 39 salaries.
Pay Difference by Location
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).
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Key Stats for Commercial Banker
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