Business Banking Specialist Salary in Richmond, VA

What is the salary range of Business Banking Specialist?

As of January 01, 2025, the average annual salary for a Business Banking Specialist in Richmond, VA is $69,905. Salary.com reports that pay typically ranges from $57,420 to $80,331, with most professionals earning between $46,052 and $89,824.

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Salary range for a Business Banking Specialist

$57,420 to $80,331

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Business Banking Specialist

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Job Openings for Business Banking Specialist in Richmond, VA

What does a Business Banking Specialist do?

Common responsibilities of a Business Banking Specialist

Participates in credit discussions with Account Officers, Market Managers and senior management.

November 30, 2022

Interacts and communicates daily with all levels, including, financial center employees, supporting business units, relationship managers, credit, underwriters, documentation preparation, REVG, title companies, 3rd parties, attorneys and flood vendors to ensure requirements are understood and met.

December 11, 2022

Manage and collaborate with Business Bankers on weekly pipeline updates, and weekly planning of contact/activity form.

January 13, 2023

Assists in development of new credit business via interaction with existing or prospective customers to gather key information for credit analysis.

January 28, 2023

Demonstrated an understanding of business banking and commercial lending credit policy/guidelines and applicable bank policies and procedures as they pertain to the satisfaction of loan closing conditions as well as vendor documents and services preferred.

February 15, 2023

Understands and makes determination of appropriate loan coding needed for portfolio and regulatory reporting purposes, such as loan purpose, collateral type, obligation type, etc.

February 20, 2023

Demonstrates and appropriately applies a strong, working knowledge of diverse commercial loan documentation, legal & regulatory requirements (including unique state regulations) policies and procedures, and applies that knowledge.

April 27, 2023

Provides ongoing training to new and entry level Credit Specialists and serves as an accomplished resource to Account Officers with respect to loan underwriting, credit and underwriting guidelines.

May 09, 2023

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Business Banking Specialist Salary By Experience Levels in Richmond, VA

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RELEVANT JOB EXPERIENCE

Length of experience is a pay differentiator. Those with greater experience may have an advantage in negotiating salary. For those with less experience, other factors such as education or special skills could impact your pay. Please visit Professional Salary Report for more details.

Business Banking Specialist Salary By Level of Education in Richmond, VA

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LEVEL OF EDUCATION

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Average Salary Range for Business Banking Specialist in Richmond, VA

Average Base Salary

Core compensation

57420

80331

69905

Average Total Cash Compensation

Includes base and annual incentives

59889

85281

74334

What is the average salary for Business Banking Specialist in 2025?

These charts show the average base salary (core compensation), as well as the average total cash compensation for the job of Business Banking Specialist in Richmond, VA. The base salary for Business Banking Specialist ranges from $57,420 to $80,331 with the average base salary of $69,905. The total cash compensation, which includes base, and annual incentives, can vary anywhere from $59,889 to $85,281 with the average total cash compensation of $74,334.

View Average Salary for Business Banking Specialist as table

	Average Salary	Average Salary Range
Base Salary	$69,905	$57,420 - $80,331
Bonus	$4,429	$2,469 - $4,950
Total Pay	$74,334	$59,889 - $85,281

* Base Salary represents gross income before taxes and deductions. It does not include additional pay such as benefits, bonuses, profit sharing or commissions.

* Total Pay combines base salary, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job.

Business Banking Specialist Salary Near Richmond, VA

CITY, STATE	AVERAGE SALARY RANGE	COMPARE TO Richmond, VA
CITY, STATE Petersburg, VA	AVERAGE SALARY RANGE $58,777 - $82,230	COMPARE TO Richmond, VA
CITY, STATE Virginia State University, VA	AVERAGE SALARY RANGE $58,777 - $82,230	COMPARE TO Richmond, VA
CITY, STATE Newport News, VA	AVERAGE SALARY RANGE $55,873 - $78,168	COMPARE TO Richmond, VA
CITY, STATE Hampton, VA	AVERAGE SALARY RANGE $55,873 - $78,168	COMPARE TO Richmond, VA
CITY, STATE Suffolk, VA	AVERAGE SALARY RANGE $55,535 - $77,694	COMPARE TO Richmond, VA
CITY, STATE Portsmouth, VA	AVERAGE SALARY RANGE $55,567 - $77,739	COMPARE TO Richmond, VA

See salaries for Business Banking Specialist in locations close to Richmond, VA. Pay for the same job may vary based on the location and on the location and on other factors such as the size of company, the industry, and other local conditions.

About Richmond, Virginia

Richmond (/ˈrɪtʃmənd/) is the capital of the Commonwealth of Virginia in the United States. It is the center of the Richmond Metropolitan Statistical Area (MSA) and the Greater Richmond Region. Richmond was incorporated in 1742 and has been an independent city since 1871. As of the 2010 census, the city's population was 204,214; in 2016, the population was estimated to be 223,170, making Richmond the fourth-most populous city in Virginia. The Richmond Metropolitan Area has a population of 1,260,029, the third-most populous metro in the state. Richmond is located at the fall line of the James R...

Source: Wikipedia (as of 04/11/2019). Read more from Wikipedia

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The Business Banking Specialist job could be listed using titles that are not exactly the same, but actually are for the same or very similar job. Here are some job titles in Richmond, VA that might be a good fit for the type of job and salary you are looking for.

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57420

80331

About Richmond, Virginia Richmond (/ˈrɪtʃmənd/) is the capital of the Commonwealth of Virginia in the United States. It is the center of the Richmond Metropolitan Statistical ....More

Richmond, Virginia area prices were up 1.2% from a year ago

Business Banking Specialist Salary in popular cities: Virginia Beach, Norfolk, Chesapeake

Learn more about: Compensation Packages, Employee Flight Risk, Gender Pay Gap, Job Openings for This Role