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The differences between commercial bankers and personal bankers can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 4-6 years to become a commercial banker, becoming a personal banker takes usually requires 2-4 years. Additionally, a commercial banker has an average salary of $78,697, which is higher than the $37,639 average annual salary of a personal banker.
The top three skills for a commercial banker include customer service, business development and treasury. The most important skills for a personal banker are customer relationships, cross-sell, and customer satisfaction.
| Commercial Banker | Personal Banker | |
| Yearly salary | $78,697 | $37,639 |
| Hourly rate | $37.84 | $18.10 |
| Growth rate | 4% | 10% |
| Number of jobs | 45,270 | 36,603 |
| Job satisfaction | - | 3 |
| Most common degree | Bachelor's Degree, 77% | Bachelor's Degree, 59% |
| Average age | 45 | 43 |
| Years of experience | 6 | 4 |
A commercial banker is responsible for providing financial advice and selling financial instruments to corporate clients according to their business needs and specifications. Commercial bankers process the opening and registration of corporate client accounts, updating the clients with current financial services, and resolving account disputes. They also manage investment options and identify opportunities that would help the bank gain more prospective clients that would increase the company's revenues and profitability. A commercial banker must have excellent knowledge of the banking industry to determine banking solutions for clients for their best interests.
A personal banker is responsible for managing the customers' financial records and assisting them in various banking transactions. Personal bankers' duties also include handling customers' inquiries for financial plans, understanding the banking and financial industry principles, processing applications, verifying account details, and offering bank products based on the customers' needs. A personal banker must have excellent customer service and communication skills, providing the best options for the customers, and helping them achieve their financial goals.
Commercial bankers and personal bankers have different pay scales, as shown below.
| Commercial Banker | Personal Banker | |
| Average salary | $78,697 | $37,639 |
| Salary range | Between $51,000 And $121,000 | Between $29,000 And $48,000 |
| Highest paying City | Seattle, WA | New York, NY |
| Highest paying state | New Mexico | New York |
| Best paying company | Northern Trust | Northern Trust |
| Best paying industry | Finance | Finance |
There are a few differences between a commercial banker and a personal banker in terms of educational background:
| Commercial Banker | Personal Banker | |
| Most common degree | Bachelor's Degree, 77% | Bachelor's Degree, 59% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between commercial bankers' and personal bankers' demographics:
| Commercial Banker | Personal Banker | |
| Average age | 45 | 43 |
| Gender ratio | Male, 63.5% Female, 36.5% | Male, 44.6% Female, 55.4% |
| Race ratio | Black or African American, 9.7% Unknown, 4.7% Hispanic or Latino, 14.7% Asian, 6.6% White, 63.8% American Indian and Alaska Native, 0.5% | Black or African American, 5.4% Unknown, 4.1% Hispanic or Latino, 11.2% Asian, 12.2% White, 66.8% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 8% | 6% |