Do bankers make a lot of money?

Meanwhile, an investment banker and other Wall Street bankers typically make around $100,000 a year on average. What kind of banking a person chooses to go into depends on their own goals and desired lifestyle.

While being a personal banker pays less, it does offer a significantly better work-life balance. However, it is possible to make good money as a personal banker through leveraging product sales goals to increase base salary.

When it comes to compensation models, the base salary, commission, and bonus are all important to understand to make the most money as a banker. Bankers must think strategically about their role to maximize their income potential while still providing the best service to their customers.

In addition to pay structure, the biggest determining factor for whether a banker will make higher than average salaries is their location. Big cities like New York and San Francisco come with higher base salaries and more opportunities to get bonuses and other pay incentives.

This can help push salaries up significantly, especially if part of their bonus comes as a percentage of their salary. Overall, it is not hard to make higher than average salaries as a banker as long as you invest in your career.