Personal Banker Salary

Median pay for Personal Bankers in the United States lies in the neighborhood of $15.87 per hour. In the world of Personal Bankers, overall income ranges from $28K near the bottom to $47K at the top; this can include more than $8K from bonuses and more than $8K from profit sharing in exceptional cases. The most important factor affecting compensation for this group is the company, followed by geography and years of experience. The majority of workers are highly satisfied with their job. Most enjoy medical while a strong majority get dental coverage. Vision coverage is also available to more than half. Men are slightly outnumbered by their female counterparts who answered the questionnaire, who make up a slight majority at 59 percent. The figures in this rundown are based on the results of PayScale's salary questionnaire.

$29,563 - $48,332
$30K
$37K
$48K
MEDIAN: $37,348
10%
50%
90%

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$12.64 - $19.68
$13
$16
$20
MEDIAN: $15.97
10%
50%
90%

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$0$48K
Salary $29,563 - $48,332
Bonus $705 - $8,223
Profit Sharing $253 - $7,891
Commission $606 - $10,304
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).
)
$27,870 - $47,454
  • Country: United States
  • Currency: USD
  • Updated: 18 Nov 2017
  • Individuals Reporting: 1,352
Hourly Data $0$30
Hourly Rate $12.64 - $19.68
Hourly Tips $1.25
Overtime $18.66 - $30.63
Annual Data $0$47K
Bonus $705 - $8,223
Commission $606 - $10,304
Profit Sharing $253 - $7,891
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).
)
$27,870 - $47,454
  • Country: United States
  • Currency: USD
  • Updated: 18 Nov 2017
  • Individuals Reporting: 1,816

Job Description for Personal Banker

Personal bankers are responsible for helping individual clients manage their money in order to balance financial risks and returns. These bankers typically work in indoor office environments, and some limited travel may be required to attend social networking events and appeal to potential clients. Although they generally work during traditional business hours, extended hours may be required depending on the organization and needs of the client.

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Personal Banker Tasks

  • Provides customer service, explaining bank services and assisting with new accounts, loans, bonds, and securities.
  • Enters new and updated customer account information into computer system.
  • Collects customer information for new loans and begins review process.
  • Sells financial products and services to potential and current customers.

Common Career Paths for Personal Banker


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Personal Bankers who go on to become Private Bankers may see their salaries climb quite a bit. Median pay for Private Bankers is $79K annually. It is quite typical for Personal Bankers to transition into roles as Banking Branch Managers or Assistant Branch Managers of Banking, where reported median earnings are $16K and $3K higher per year.

Personal Banker Job Listings

Popular Employer Salaries for Personal Banker


Wells Fargo Bank, Bank of America Corp. (BOFA), Wells Fargo & Co., Chase Bank, and U.S. Bank are some prominent firms with considerable interest in employing a large team of Personal Bankers. Citibank pays the most with a median salary of $46K, though there is little variation overall ($34K to $58K). Other big spenders include Bank of America Corp. (BOFA), J.P. Morgan Chase & Co. (JPMCC), and SunTrust Banks Inc., top-paying firms where Personal Bankers see paychecks nearing $42K, $40K, or $40K.

The lowest salaries can be found at Woodforest National Bank — median pay is $24K — and there is little variation in compensation, with paychecks starting at $22K and only reaching $30K. Others at the bottom of the scale for this job include Associated Bank Corp. at $32K, The PNC Financial Services Group, Inc. at $33K, and U.S. Bank, where $34K is the norm.

Popular Skills for Personal Banker


Survey results imply that Personal Bankers deploy a deep pool of skills on the job. Most notably, skills in Customer Relationship Management, Spanish Language, Sales, and Consumer Loans are correlated to pay that is above average. Skills that pay less than market rate include Microsoft Office. Those familiar with Banking also tend to know Sales.

Pay by Experience Level for Personal Banker

Pay by Experience for a Personal Banker has a positive trend. An entry-level Personal Banker with less than 5 years of experience can expect to earn an average total compensation of $35,000 based on 2,341 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Personal Banker with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $38,000 based on 916 salaries. An experienced Personal Banker which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $39,000 based on 511 salaries. A Personal Banker with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $40,000 based on 164 salaries.

Pay Difference by Location

National Average: $36,264

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

Personal Bankers will find that San Francisco offers an impressive pay rate, one which exceeds the national average by 28 percent. Personal Bankers can also look forward to large paychecks in cities like New York (+19 percent), Seattle (+18 percent), Los Angeles (+10 percent), and Chicago (+7 percent). The lowest-paying market is Denver, which sits 4 percent below the national average.

Personal Banker Reviews

Q: What is it like working as a Personal Banker?

Personal Banker in Cocoa Beach:
"Cake."
Pros: The job is simple. If you build up a solid client base, making your goals is not hard. Keeping a solid relationship is key.
Cons: Untrained untested employees ruining customer relations.

Personal Banker in Plant City:
Pros: The customers, and helping them with their issues.
Cons: My supervisor.

Personal Banker in Marshalltown:
"Benefits."
Pros: 5 weeks of vacation, no holidays, no nights, rare weekends, boss.
Cons: Sales goals, salary, co-workers, tasks.

Personal Banker in Fort Worth:
"Career Oriented Company."
Pros: If you are looking for a job, this might not be the best option. Wells Fargo likes to keep people as long as possible. If you are good at what you do, you will move up quickly. Performance based company, if you are not good with people, this might not be the best option. I enjoy the company, the culture and the compensations.
Cons: Performance based company. Very performance based. Favoritism throughout the work place; very apparent so...get along with ALL of your peers.

Related Job Salaries

Key Stats for Personal Banker

Gender

Female
58 %
Male
42 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 520 votes.
Less than 1 year
6%
1-4 years
53%
5-9 years
22%
10-19 years
14%
20 years or more
5%

Experience Affects Personal Banker Salaries

▲9%

▲8%

▲5%

National Average
$36,000

▼4%

Skills That Affect Personal Banker Salaries



▲1%

▼0%



Account Sales
▼0%



Inside Sales
▼0%

National Average
$36,000






Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 520 votes.

Gender

Female
58 %
Male
42 %

Years of Experience

Less than 1 year
6%
1-4 years
53%
5-9 years
22%
10-19 years
14%
20 years or more
5%

Common Health Benefits

medical benefits
Medical: 82%
dental benefits
Dental: 76%
vision benefits
Vision: 67%
no benefits
None: 14%