As of December 01, 2024, the average annual pay of Private Banker I in the United States is $77,592. While Salary.com is seeing that Private Banker I salary in the US can go up to $121,530 or down to $40,993, but most earn between $58,435 and $100,591. Salary.com shows the average base salary (core compensation), as well as the average total cash compensation for the job of Private Banker I in the United States.
| Annual Salary |
Monthly Pay |
Weekly Pay |
Hourly Wage |
|
| 75th Percentile | $100,591 | $8,383 | $1,934 | $48 |
| Average | $77,592 | $6,466 | $1,492 | $37 |
| 25th Percentile | $58,435 | $4,870 | $1,124 | $28 |
As of December 01, 2024, Salary.com is seeing that an entry-level Private Banker I with under 1 year experience makes about $75,763. With less than 2 years of experience, a mid-level Private Banker I makes around $77,868. After 2-4 years, the Private Banker I pay rises to about $82,989. Those senior Private Banker I with 5-8 years of experience earn roughly $84,014, and those Private Banker I having 8 years or more experience is expected to earn about $84,697 on average.
| Levels | Salary |
|---|---|
| Entry Level Private Banker I | $75,763 |
| Intermediate Level Private Banker I | $77,868 |
| Senior Level Private Banker I | $82,989 |
| Specialist Level Private Banker I | $84,014 |
| Expert Level Private Banker I | $84,697 |
| Entry Level | 2% |
| Mid Level | 0% |
| Senior Level | 7% |
| Top Level | 8% |
| Experienced | 9% |
Salaries in the United States can vary significantly from state to state due to a multitude of factors, including cost of living, local economic conditions, and industry presence.
For example, as of December 01, 2024, the average yearly salary of Private Banker I is $85,584 in California and in Massachusetts, the average annual salary goes to $84,421. While in New Jersey, a Private Banker I earns $85,041 per year.
What Am I Worth?
Salaries in the United States can vary significantly from city to city due to a multitude of factors, including cost of living, local economic conditions, and industry presence.
For example, as of December 01, 2024, the average yearly salary of Private Banker I in San Francisco, CA is $96,991 and in New York, NY, the average annual salary goes to $90,628. While a Private Banker I earns $86,981 per year in Boston, MA.
For those exploring the changing dynamics of Private Banker I salaries, Salary.com offers detailed insights through our Job Trending in CA Labor Market analysis. As of December 01, 2024, our research highlights a notable shift in Private Banker I compensation over the past six years. For instance, the median salary has moved from $57,349 in 2023 to about $57,282 in 2024 (for a comprehensive analysis of Private Banker I salary trends, click here). It's crucial to consider several elements, including geographical location, experience level, industry demand, and economic development, as they play a significant role in influencing salary variations.
Salary.com job board provides millions of Private Banker I information for you to search for. Click on search button below to see Private Banker I job openings or enter a new job title here.
Here are companies hiring for Private Banker I and their salaries, click below for more details.
| Core Compensation | ||||
| Core Compensation | Median | % of Total | ||
| Base Salary | $77,592 | 67.0% | ||
| Bonus | $6,252 | 5.4% | ||
| Value of Benefits | ||||
| Core Compensation | Median | % of Total | ||
| Social Security | $6,414 | 5.5% | ||
| 401K/403B | $3,941 | 3.4% | ||
| Disability | $671 | 0.6% | ||
| Healthcare | $6,056 | 5.2% | ||
| Pension | $4,611 | 4.0% | ||
| Time Off | $10,319 | 8.9% | ||
| Total Compensation | $115,856 | 100% | ||
The average annual salary of Private Banker I is $77,592. In case you are finding an easy salary calculator, the average hourly pay of Private Banker I is $37; the average weekly pay of Private Banker I is $1,492; the average monthly pay of Private Banker I is $6,466.
A Private Banker I's earning potential can vary widely depending on several factors, including location, industry, experience, education, and the specific employer. According to the latest salary data by Salary.com, a Private Banker I earns the most in San Jose, CA, where the annual salary of a Private Banker I is $97,378.
The highest pay for Private Banker I is $121,530.
The lowest pay for Private Banker I is $40,993.
Private Banker I manages a private banking portfolio of individuals with high-net worth using banking strategies, solutions, and advice that are customized to the client's needs. Develops and maintains client relationships by engaging the resources of other parts of the organization to provide meaningful and personalized service. Being a Private Banker I acts as an advisor, providing financial research and information. Achieves deposit and loan volume goals, approves loans, and sells additional fee-based services. Additionally, Private Banker I typically requires a bachelor's degree. Typically reports to a manager. The Private Banker I work is closely managed. Works on projects/matters of limited complexity in a support role. To be a Private Banker I typically requires 0-2 years of related experience.
