Q:

How much do personal bankers make?

A:

Quick Answer

Personal bankers earn between $27,992 and $43,892 per year, with an average annual salary of $34,180. The majority of this yearly income is based on salary, while a small portion of it is based on profit sharing or commission.

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Full Answer

Personal bankers help new bank customers open accounts, and work with existing clients of the bank to help them find the investments and other financial products that are right for their needs. Personal bankers may also act as loan officers, helping consumers to choose and apply for loans. In addition to receiving a salary or an hourly rate, personal bankers may receive commission based on how many loans they originate or bonds they sell. Many banks assign their personal bankers sales goals for each month or quarter.

Many workers use a position as a personal banker as a starting point for a career in the finance industry. After working as a personal banker, many people often become bank managers or credit analysts in the banking industry. In other cases, these professionals may leave banking for a career as an accountant or a financial analyst.

Personal bankers may also handle teller duties when the bank is busy. Tellers work at the banking counter helping customers with deposits and withdrawals.

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