The average salary for a Private Banker is $69,823.
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$39k - $124k
$2k - $41k
$100 - $10k
$10k - $52k
$46k - $146k
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Job Description for Private Banker
A private banker's primary responsibility is to manage the financial accounts of high-income clients. They often fulfill a variety of tasks, but a private banker’s primary responsibilities include increasing and protecting a client’s wealth through investments, as well as processing transactions such as purchasing a home and estate planning. Private bankers work alongside other financial experts such as market analysts, fund managers, and estate lawyers; however, as they function as the client’s…Read more
Private Banker Tasks
- Manage full banking relationships with clients and monitor changing client needs.
- Monitor loan portfolio and resolve loan delinquencies, overdrafts, and loan and deposit maturities.
- Recommend solutions to credit problems, approve loan requests, and assist senior lenders.
Popular Employer Salaries for Private Banker
The top respondents for the job title Private Banker are from the companies J.P. Morgan Chase & Co. (JPMCC), Wells Fargo Bank and Chase Bank. Reported salaries are highest at Wells Fargo & Company where the average pay is $93,500. Other companies that offer high salaries for this role include SunTrust Banks Inc. and Wells Fargo & Co., earning around $89,547 and $69,004, respectively. Chase Bank pays the lowest at around $39,807. J.P. Morgan Chase & Co. (JPMCC) and The Northern Trust Company also pay on the lower end of the scale, paying $41,182 and $67,000, respectively.
Explore the most common career paths for Private Banker. Thickness and color of lines indicates popularity of movement from one job to the next. Visit our career path planner to research other job paths.
More common (> 20%)
Somewhat common (8 - 20%)
Less common (< 8%)
Private Banker Job Listings
Popular Skills for Private Banker
Skills in Banking, Sales, Customer Relationship Management (CRM) and Investment Planning are correlated to pay that is above average. Skills that pay less than market rate include Customer Service.
Pay by Experience Level for Private Banker
An entry-level Private Banker with less than 1 year experience can expect to earn an average total compensation (includes tips, bonus, and overtime pay) of $49,895 based on 14 salaries. An early career Private Banker with 1-4 years of experience earns an average total compensation of $57,770 based on 153 salaries. A mid-career Private Banker with 5-9 years of experience earns an average total compensation of $67,475 based on 228 salaries. An experienced Private Banker with 10-19 years of experience earns an average total compensation of $80,564 based on 207 salaries. In their late career (20 years and higher), employees earn an average total compensation of $95,952.
Pay Difference by Location
Learn more about cost of living by city.
Employees with Private Banker in their job title in Dallas, Texas earn an average of 40.7% more than the national average. These job titles also find higher than average salaries in San Francisco, California (24.7% more) and Miami, Florida (14.6% more). The lowest salaries can be found in Houston, Texas (25.5% less) and New York, New York (4.8% less).
Years of Experience
This data is based on 680 survey responses.
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