Average Personal Banker Salary in United States for 2024

In this article, we will look at the average Personal Banker salary for 2024 in United States and how that compares to other countries and professions. We'll also look at interesting salary data points like median salary, 25th and 75th percentile salaries, salary amounts based on experience, bonus ranges and more!

The data in this article has been compiled using official government salary data, salary surveys, and other sources such as job postings which contain salary information.

All salary information is in the local currency, which is the United States dollar. To keep things simple, we are using the USD currency code instead of the currency symbol $.

How Much Does a Personal Banker Make in United States?

A Personal Banker working in United States will typically earn around 73,700 USD per year, and this can range from the lowest average salary of about 39,000 USD to the highest average salary of 114,600 USD.

Average Annual Salary
73,700 USD
Average Monthly Salary
6,141 USD

Lowest Annual Salary
39,000 USD
Lowest Monthly Salary
3,250 USD

Highest Annual Salary
114,600 USD
Highest Monthly Salary
9,550 USD

These are average salaries for a Personal Banker in United States and include benefits such as housing and transport. It's also possible for a Personal Banker to earn more or less than the average salaries shown above.

Personal Banker salaries will vary a lot based on your experience, location, skills, and gender. Keep reading below to research more data on each of these areas.

Distribution of Personal Banker Salaries in United States

So we've looked at the average salaries a Personal Banker will earn in United States. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Personal Banker can earn between 39,000 USD and 114,600 USD on average in United States. This is known as the range in statistics.

The difference between the maximum and minimum values is a good indicator of variability in salaries, and can be used by employers to figure out how much they can expect to pay, and for employees to know how much they can earn.

Median salary

The median salary for a Personal Banker in United States is 69,100 USD. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 69,100 USD, and 50% of the population earn more than 69,100 USD.

If you are earning more than the median salary, that's a good indicator that you are being paid well.

If you're not earning more than the median salary, your objective should be to increase your earnings to be at least as high as the median salary (which you can do by asking for a pay rise, looking for a better paying job, etc).

Percentiles

Percentiles are similar to the median salary, but instead of looking at the middle value, they look at the values in the top and bottom half of the distribution.

For the average Personal Banker salary in United States, 25% of the population are earning less than 49,400 USD while 75% of the population earn more than 49,400 USD.

75% of the population earn less than 83,200 USD, and 25% of the population earn more than 83,200 USD.

Like the median salary, the 25th and 75th percentile salaries can be used to determine which quartile you fall into so that you know whether you are being paid well enough compared to others in your profession and location.

The difference between a median and an average salary

The median and average salary are both indicators you can use to see if you are being paid fairly based on the overall population.

  • If your salary is higher than the average and the median salary, you are earning well compared to others.
  • If your salary is lower than the average and the median salary, it could indicate you are not being paid well enough.
  • If you are somewhere in between then it's tricky to determine if you are being paid well enough and you might need to research more closely.

Personal Banker Salary by Experience Level in United States

The most important factor in determining your salary after the specific profession is the number of years experience you have. It stands to reason that more years of experience will result in a higher wage.

We have researched the average personal banker salary based on years of experience to give you an idea of how the average changes once you've worked for a certain amount of time.

  • 0 - 2 Years Experience. A Personal Banker in United States that has less than two years of experience can expect to earn somewhere in the region of 48,200 USD.
  • 2 - 5 Years Experience. With two to five years of experience the average Personal Banker salary would increase to 59,500 USD.
  • 5 - 10 Years Experience. From five to ten years of experience as a Personal Banker, the average salary would be 79,600 USD.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 91,600 USD.
  • 15 - 20 Years Experience. A Personal Banker with 15 to 20 years of experience can earn an average of 100,700 USD.
  • 20+ Years Experience. For a Personal Banker with more than 20 years, the expected average salary increases to 109,000 USD.

Average Salary by Experience Chart

0-2 Years
48,200 USD
2-5 Years +26%
59,500 USD
5-10 Years +32%
79,600 USD
10-15 Years +18%
91,600 USD
15-20 Years +11%
100,700 USD
20+ Years +6%
109,000 USD

Personal Banker Salary by Education Level in United States

As well as experience in a job, your education plays a big role in how much you can earn. A lot of higher paying positions require a high level of education, but how much can a degree increase your salary?

In our research we have compared the salaries of employees in the same job and career level with different levels of education to see how much more you can earn at each education level.

The salary you can earn based on your education is very specific to both your location and the career path you choose.

In our research, we looked at the average salary for a Personal Banker in United States based on the education level of the employees in order to find out whether a better education level would increase your salary.

  • Certificate or Diploma. A Personal Banker in United States with a certificate or diploma education can earn an average salary of 59,500 USD.

  • Bachelor's Degree. A Personal Banker in United States with a bachelor's degree education can earn an average salary of 79,600 USD.

  • Master's Degree. A Personal Banker in United States with a master's degree education can earn an average salary of 107,700 USD.

Average Salary by Education Chart

Certificate or Diploma
59,500 USD
Bachelor's Degree +32%
79,600 USD
Master's Degree +37%
107,700 USD

How Much is a Master's Degree or MBA Program?

The approximate cost of a master's degree or post-graduate program like an MBA in United States is around 39,500 to 118,000 USD and takes two years to complete.

As you can see above, there are financial benefits from reaching master's degree level, but don't expect to see much of a salary increase until you have completed the degree.

It's common for people to pursue an MBA or other post-graduate program in order to switch to a a job that pays more. On average, you can expect to earn around 10% more when switching to a new company.

Whether you decide to pursue a master's degree depends on many factors. If you are able to afford it, the numbers suggest that the return on investment is worth it and you could recover the costs in a few years from the salary increase you would receive.

Personal Banker Salary Compared by Gender

In the modern age, we know that there should never be a pay gap between men and women. Unfortunately, in many professions, there is still a significant difference between the salaries earned by men when compared to the salary of women in the same job.

In United States, a male personal banker will earn an average of 74,900 USD, while a female personal banker will earn around 71,200 USD.

This means that a male personal banker earns approximately 5% more than a female personal banker for performing the same job.

Average Salary by Gender Chart in United States

Male
74,900 USD
Female -5%
71,200 USD

Personal Banker Average Pay Raise in United States

In many countries, an annual pay raise is often given to employees to reward their service with a salary increase.

From our research, we can see that the average pay raise for a Personal Banker in United States is around 11% every 15 months.

The national average pay raise across all professions and industries in United States is around 8% every 16 months.

In this case, we can see that the number of months between the average pay raise is higher than the typical 12 months.

To make the data more meaningful, we can calculate what the approximate annual pay raise would be using a simple formula:

Annual Increase = ( Increase Rate ÷ Months ) × 12

So for this example, it would be:

Annual Increase = ( 11 ÷ 15 ) × 12  = 9%

What this means is that a Personal Banker in United States can expect to receive an average pay raise of around 9% every 12 months.

Annual Pay Raise by Industry in United States for 2024

In the chart below, you can see the average annual pay raise percentages for each of the major industries in United States.

You will see that companies in bigger and more lucrative industries tend to have the higher annual pay raises.

Banking
4%
Energy
8%
Information Technology
3%
Healthcare
7%
Travel
2%
Construction
6%
Education
1%

Personal Banker Bonus and Incentive Rates in United States

Another part of your overall compensation in a job is how much bonus you receive. Some job roles will be more likely to pay a bonus than others and also more likely to have higher bonus rates.

Generally speaking, jobs that are more involved with direct revenue generation will receive higher bonuses based on the performance towards revenue goals.

A Personal Banker is a moderate bonus based job, with 52% of employees reporting at least one bonus in the last 12 months.

48% reported that they had not received any bonuses in the previous 12 months.

For the employees that did receive a bonus in the previous 12 months, the reported bonuses ranged from 4% to 5%.

Received Bonus
52%
No Bonus
48%

What are the Types of Bonus?

There are a number of difference types of bonus you can receive in a job. Including:

  • Individual performance bonus - This is a bonus that is awarded to an individual employee for general performance in the job. It's the most common type of bonus.
  • Company performance bonus - This is a bonus that is awarded to a company employees to share profit with the staff.
  • Goal based bonus - This is a bonus that is awarded to an individual employee (or a team) for achieving specific goals, objectives, or milestones.
  • Holiday bonus - This type of bonus is usually paid around the holidays, often the end of the year, and is a token of appreciation for the hard work throughout the year.

Government vs Private Sector Salaries

Another commonly asked question is whether you get paid a higher salary working in the public (government) sector or the private sector.

Public sector employees in United States earn approximately 6% more than private sector employees in the same role.

Public Sector
98,800 USD
Private Sector -6%
93,100 USD

Salaries for Jobs Similar to a Personal Banker

In the table below, we have salary information for jobs that are similar to a Personal Banker in United States.

Job Title Category Salary
AML Analyst Banking 148,300 USD
Assistant Bank Branch Manager Banking 127,700 USD
Assistant Bank Manager Banking 169,700 USD
ATM Manager Banking 146,900 USD
ATM Service Technician Banking 36,200 USD
Bank Accounts Analyst Banking 52,300 USD
Bank Accounts Collector Banking 33,500 USD
Bank Accounts Controller Banking 72,300 USD
Bank Accounts Executive Banking 102,700 USD
Bank Accounts Manager Banking 123,000 USD
Bank Auditing Manager Banking 127,700 USD
Bank Branch Manager Banking 165,900 USD
Bank Branch Operations Coordinator Banking 74,500 USD
Bank Clerk Banking 33,200 USD
Bank Client Service Associate Banking 46,900 USD
Bank Collector Banking 35,600 USD
Bank Compliance Specialist Banking 89,400 USD
Bank Manager Banking 192,600 USD
Bank Operational Risk Manager Banking 205,700 USD
Bank Operations Head Banking 205,700 USD
Bank Operations Officer Banking 82,200 USD
Bank Operations Specialist Banking 124,500 USD
Bank Process Manager Banking 118,900 USD
Bank Product Manager Banking 134,100 USD
Bank Programme Manager Banking 138,700 USD
Bank Project Manager Banking 158,700 USD
Bank Propositions Manager Banking 139,100 USD
Bank Quantitative Analyst Banking 107,300 USD
Bank Regional Manager Banking 218,100 USD
Bank Regional Risk Officer Banking 109,700 USD
Bank Relationship Manager Banking 151,800 USD
Bank Relationship Officer Banking 73,200 USD
Bank Teller Banking 36,400 USD
Banker Banking 74,100 USD
Banking Business Analyst Banking 107,700 USD
Banking Business Development Officer Banking 63,400 USD
Banking Business Planning Executive Banking 156,200 USD
Banking Product Manager Banking 134,100 USD
Banking Reference Data Manager Banking 121,800 USD
Banking Risk Analyst Banking 105,800 USD
Banking Technical Analyst Banking 53,800 USD
Bankruptcy Coordinator Banking 77,400 USD
Bill and Account Collector Banking 36,500 USD
Budget Analyst Banking 107,700 USD
Capital Risk Manager Banking 193,200 USD
Cards Marketing Manager Banking 128,200 USD
Cash Management Manager Banking 185,900 USD
Check Processing Manager Banking 140,200 USD
Commercial Vault Associate Banking 97,300 USD
Corporate Banker Banking 78,200 USD
Corporate Dealer Banking 112,700 USD
Credit Analyst Banking 83,300 USD
Credit and Collections Manager Banking 137,100 USD
Credit Card Fraud Investigator Banking 107,700 USD
Credit Portfolio Manager Banking 197,600 USD
Credit Risk Analyst Banking 124,500 USD
Credit Risk Associate Banking 108,200 USD
Direct Bank Sales Representative Banking 75,400 USD
Exchange Control Consultant Banking 108,200 USD
Executive Account Analyst Banking 105,200 USD
Financial Bank Planning Consultant Banking 140,700 USD
Financial Banking Analysis Manager Banking 151,800 USD
Financial Banking Assistant Banking 49,100 USD
Financial Banking Systems Manager Banking 146,900 USD
Foreign Exchange Manager Banking 148,300 USD
Fraud Analyst Banking 114,300 USD
Fraud Detection Associate Banking 74,600 USD
Fraud Detection Manager Banking 169,700 USD
Fraud Detection Supervisor Banking 93,800 USD
Internal Bank Audit Manager Banking 185,900 USD
Internal Bank Auditor Banking 103,600 USD
Internal Private Banker Banking 78,900 USD
International Banking Manager Banking 222,300 USD
Investment Banking Analyst Banking 152,700 USD
Loan Analyst Banking 109,000 USD
Loan Area Manager Banking 130,500 USD
Loan Audit Team Leader Banking 119,700 USD
Loan Branch Manager Banking 124,500 USD
Loan Business Development Officer Banking 63,200 USD
Loan Clerk Banking 36,800 USD
Loan Collection and Recovery Manager Banking 132,000 USD
Loan Collection Manager Banking 130,500 USD
Loan Collector Banking 34,000 USD
Loan Examiner Banking 46,000 USD
Loan Officer Banking 39,300 USD
Loan Processing Manager Banking 117,100 USD
Loan Processor Banking 45,600 USD
Loan Quality Assurance Auditor Banking 107,300 USD
Loan Quality Assurance Manager Banking 121,800 USD
Loan Quality Assurance Representative Banking 77,000 USD
Loan Review Manager Banking 115,600 USD
Loan Team Leader Banking 109,000 USD
Loans Manager Banking 137,100 USD
Mortgage Advisor Banking 74,300 USD
Mortgage Collection Manager Banking 119,700 USD
Mortgage Collector Banking 33,000 USD
Mortgage Credit Analyst Banking 57,800 USD
Mortgage Credit Manager Banking 114,600 USD
Mortgage Development Manager Banking 132,000 USD
Mortgage Document Reviewer Banking 45,900 USD
Mortgage Funding Manager Banking 140,200 USD
Mortgage Operations Manager Banking 180,500 USD
Mortgage Payment Processing Clerk Banking 39,700 USD
Mortgage Processing Manager Banking 115,600 USD
Mortgage Processor Banking 48,600 USD
Mortgage Quality Assurance Auditor Banking 109,700 USD
Mortgage Quality Assurance Manager Banking 114,300 USD
Mortgage Servicing Clerk Banking 39,500 USD
Mortgage Servicing Manager Banking 112,700 USD
Mortgage Underwriter Banking 45,600 USD
Online Banking Manager Banking 175,200 USD
Payment Processing Clerk Banking 35,400 USD
Personal Banking Advisor Banking 77,100 USD
Phone Banker Banking 50,800 USD
Private Banker Banking 78,500 USD
Reconciliation and Investigation Specialist Banking 84,800 USD
Tax Officer Banking 62,600 USD
Teller Banking 34,900 USD
Trade Officer Banking 45,200 USD
Trade Product Manager Banking 130,500 USD
Trader Banking 49,200 USD
Treasury Operations Officer Banking 92,100 USD

Salary Comparison by City

If you want to compare salaries with different cities in United States, you can use the links below to explore the data for each specific city we have researched.

City Average Salary
Atlanta 76,000 USD
Austin 87,700 USD
Baltimore 76,600 USD
Boston 80,300 USD
Bristol 61,400 USD
Chicago 86,600 USD
Cincinnati 66,400 USD
Cleveland 65,800 USD
Dallas 85,400 USD
Denver 78,900 USD
Detroit 75,000 USD
Honolulu 64,300 USD
Houston 92,100 USD
Indianapolis 80,000 USD
Iowa City 63,900 USD
Jacksonville 83,300 USD
Kansas City 71,700 USD
Kent 63,200 USD
Las Vegas 74,700 USD
Long Beach 73,500 USD
Los Angeles 92,100 USD
Memphis 79,800 USD
Miami 73,500 USD
Minneapolis 66,400 USD
New Orleans 69,700 USD
New York 92,000 USD
Oakland 71,700 USD
Oklahoma City 75,000 USD
Orlando 67,500 USD
Philadelphia 87,900 USD
Phoenix 93,800 USD
Sacramento 73,500 USD
San Antonio 83,000 USD
San Diego 83,300 USD
San Francisco 85,500 USD
San Jose 83,000 USD
Seattle 78,500 USD
Tampa 64,200 USD
Vancouver 63,900 USD
Washington D.C. 78,500 USD

Salary Comparison by State

The table below includes links to the average salary for each state in United States.

City Average Salary
Alabama 78,900 USD
Alaska 69,600 USD
Arizona 77,300 USD
Arkansas 73,300 USD
California 87,600 USD
Colorado 75,000 USD
Connecticut 74,100 USD
Delaware 72,800 USD
District of Columbia 64,800 USD
Florida 85,500 USD
Georgia 83,300 USD
Hawaii 75,500 USD
Idaho 71,700 USD
Illinois 86,800 USD
Indiana 83,800 USD
Iowa 71,200 USD
Kansas 74,600 USD
Kentucky 80,700 USD
Louisiana 73,300 USD
Maine 69,200 USD
Maryland 82,200 USD
Massachusetts 78,500 USD
Michigan 81,300 USD
Minnesota 79,500 USD
Mississippi 71,800 USD
Missouri 77,000 USD
Montana 70,600 USD
Nebraska 68,200 USD
Nevada 74,500 USD
New Hampshire 72,400 USD
New Jersey 77,100 USD
New Mexico 71,400 USD
New York 85,700 USD
North Carolina 79,600 USD
North Dakota 65,900 USD
Ohio 83,300 USD
Oklahoma 79,000 USD
Oregon 73,700 USD
Pennsylvania 86,800 USD
Rhode Island 72,700 USD
South Carolina 74,200 USD
South Dakota 70,900 USD
Tennessee 83,300 USD
Texas 83,000 USD
Utah 71,700 USD
Vermont 71,700 USD
Virginia 80,800 USD
Washington 79,600 USD
West Virginia 76,000 USD
Wisconsin 76,800 USD
Wyoming 66,400 USD

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