$38,652
Avg. Salary
$16.62
Avg. Hourly Rate

Average additional compensation for this job:

Bonus

$2,978

Profit Sharing

$1,016

Commission

$9,579

The average pay for a Relationship Banker is $16.62 per hour.

The average pay for a Relationship Banker is $38,652 per year.

$13
10%
$17
50%
$21
90%
MEDIAN $17
$31k
10%
$39k
50%
$54k
90%
MEDIAN $38,652
$31,060 - $54,414
$31K
$39K
$54K
MEDIAN: $38,652
10%
50%
90%

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$13.29 - $20.82
$13
$17
$21
MEDIAN: $16.62
10%
50%
90%

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$0$57K
Salary $31,060 - $54,414
Bonus $507 - $12,204
Profit Sharing $0.00 - $9,887
Commission $1,181 - $20,554
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).
)
$30,062 - $57,299
  • Country: United States
  • Currency: USD
  • Updated: 5 Nov 2018
  • Individuals Reporting: 1,008
Hourly Data $0$31
Hourly Rate $13.29 - $20.82
Overtime $18.78 - $31.70
Annual Data $0$57K
Bonus $507 - $12,204
Commission $1,181 - $20,554
Profit Sharing $0.00 - $9,887
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).
)
$30,062 - $57,299
  • Country: United States
  • Currency: USD
  • Updated: 5 Nov 2018
  • Individuals Reporting: 901

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

  • 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.
  • Authorize, approve, and research transactions; perform overrides, approve check holds, and make check cashing decisions.
  • 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.

Popular Employer Salaries for Relationship Banker


Leading companies who hire large numbers of Relationship Bankers include Bank of America Corp. (BOFA), J.P. Morgan Chase & Co. (JPMCC), Chase Bank, M&T Bank Corp, and BB&T Corp. For Relationship Bankers, comfortable salaries can be found at Union Bank; in fact, median earnings sit around $49K, the highest in the area. J.P. Morgan Chase & Co. (JPMCC), Chase Bank, and Capital One Financial Corp are a few other companies that offer generous salaries, with Relationship Bankers earning around $46K, $45K, or $41K at each firm, respectively.

Employees at M & T Bank, M&T Bank Corp, and Bank of America Corp. (BOFA) can also expect below-average earnings of $34K.

Common Career Paths for Relationship Banker


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Relationship Bankers may progress into high-paying roles like Private Banker, where median compensation is $79K annually. Becoming a Banking Branch Manager or an Assistant Branch Manager of Banking is often the next step for a Relationship Banker.

Relationship Banker Job Listings

Popular Skills for Relationship Banker


Survey results suggest that Relationship Bankers use a fairly large toolkit of professional skills. Most notably, skills in Operations Management, Customer Relationship Management, Team Leadership, and Sales are correlated to pay that is above average. At the other end of the pay range are skills like Customer Service, Bilingual, and Banking. For most people, competency in Customer Service indicates knowledge of Customer Relations.

Pay by Experience Level for Relationship Banker

Pay by Experience for a Relationship Banker has a positive trend. An entry-level Relationship Banker with less than 5 years of experience can expect to earn an average total compensation of $36,000 based on 604 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Relationship Banker with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $41,000 based on 295 salaries. An experienced Relationship Banker which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $42,000 based on 164 salaries. A Relationship Banker with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $48,000 based on 45 salaries.

Pay Difference by Location

19%

6%

-3%

-9%

-9%

-11%

National Average: $40,144

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

Home to some of the best pay for Relationship Bankers, San Francisco offers exceptional salaries, 26 percent above the national average. Relationship Bankers can also look forward to large paychecks in cities like New York (+24 percent), Los Angeles (+19 percent), Portland (+12 percent), and Houston (+10 percent). Rochester is the lowest-paying area, 13 percent south of the national average. Employers in Virginia Beach and Tulsa also lean toward paying below-median salaries (9 percent lower and 7 percent lower, respectively).

Relationship Banker Reviews

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

Relationship Banker in San Francisco:
"Very energetic and progressive."
Pros: My clients are very diverse and extremely intelligent -young and vibrant.
Cons: My commute is the main negative. Also, my salary is very low. Even though I love the company I work for, I will have to leave.

Relationship Banker in Lafayette:
"Rough..."
Pros: The good part is coming from a major city, here you can breath throughout your day.
Cons: The bad is that I work in financial solutions. If there’s no financials(broke people and bad credit), so then there’s no solutions, there’s no job.

Relationship Banker in Rhinelander:
"Entry-Level High Pressure Sales."
Pros: Nothing about my employer. Most of my customers are pleasant to deal with. I like helping them but do not want to sell them something that does not fit their needs.
Cons: I am underemployed with no room for advancement. My position is glamorized retail sales, requiring almost verbatim scripts; this is not a professional bank environment. Goals do not use demographic analysis to attain realistic quotas. In spite of building repeat relationships with clients and earning awards for top sales, my direct supervisor only focuses on the negative and micromanages (this applies to all employees). Teamwork and communication are rare and discouraged. The job duties themselves are not at all stressful but the constant negativity in our work environment is, resulting in high turnover and short-staffing.

Relationship Banker in New York:
Pros: Not too stressful. Relatively decent hours.
Cons: Pressure to perform consistently in terms of sales.

Relationship Banker in Sacramento:
"A good career opportunity."
Pros: Freedom to impact my income. There are many opportunities to help people.
Cons: Staffing levels cause stress for the employees and decrease sales opportunities.

Relationship Banker in Burlingame:
"Happy but looking for personal growth."
Pros: Helping clients and being their main point of contact at work, and being satisfied by how I do my work is what my main goal is. Once they're happy with your service, that's the time when sales comes into play.
Cons: Restructuring of management is affecting everyone's way of thinking towards the company.

Related Job Salaries

Key Stats for Relationship Banker

Gender

Female
56 %
Male
44 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 303 votes.
Less than 1 year
6%
1-4 years
49%
5-9 years
24%
10-19 years
16%
20 years or more
5%

Experience Affects Relationship Banker Salaries

▲21%

▲5%

▲3%

National Average
$40,000

▼11%

Skills That Affect Relationship Banker Salaries

Operations Management
▲3%

National Average
$40,000


Team Leadership
▼3%

Sales
▼6%

Customer Relations
▼6%

▼7%

Bilingual
▼7%


Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 303 votes.

Gender

Female
56 %
Male
44 %

Years of Experience

Less than 1 year
6%
1-4 years
49%
5-9 years
24%
10-19 years
16%
20 years or more
5%

Common Health Benefits

medical benefits
Medical: 88%
dental benefits
Dental: 83%
vision benefits
Vision: 75%
no benefits
None: 10%