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Corporate banking officer hiring summary. Here are some key points about hiring corporate banking officers in the United States:
Here's a step-by-step corporate banking officer hiring guide:
Before you start hiring a corporate banking officer, identify what type of worker you actually need. Certain positions might call for a full-time employee, while others can be done by a part-time worker or contractor.
You should also consider the ideal background you'd like them a corporate banking officer to have before you start to hire. For example, what industry or field would you like them to have experience in, what level of seniority or education does the job require, and how much it'll cost to hire a corporate banking officer that fits the bill.
Here's a comparison of corporate banking officer salaries for various roles:
| Type of Corporate Banking Officer | Description | Hourly rate |
|---|---|---|
| Corporate Banking Officer | Loan officers evaluate, authorize, or recommend approval of loan applications for people and businesses. | $27-67 |
| Loan Originator | A Loan Originator is a potential liaison between borrowers and lenders. They help borrowers complete loan applications and evaluate which loans are most appropriate for the customers. | $13-28 |
| Home Mortgage Consultant | Mortgage Consultants work to help people or businesses find the right lenders to get a mortgage from. They work with customers to find options that fit their current circumstances and financial capacity... Show more | $12-24 |
| Rank | State | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | California | $119,838 | $58 |
| 2 | Washington | $107,562 | $52 |
| 3 | New York | $105,081 | $51 |
| 4 | Massachusetts | $97,064 | $47 |
| 5 | New Jersey | $94,325 | $45 |
| 6 | Texas | $92,332 | $44 |
| 7 | Delaware | $87,128 | $42 |
| 8 | Hawaii | $83,077 | $40 |
| 9 | Minnesota | $78,918 | $38 |
| 10 | Illinois | $75,835 | $36 |
| 11 | Virginia | $70,140 | $34 |
| 12 | Georgia | $67,183 | $32 |
| 13 | Arizona | $66,040 | $32 |
| 14 | Pennsylvania | $65,691 | $32 |
| 15 | Louisiana | $65,428 | $31 |
| 16 | Colorado | $64,610 | $31 |
| 17 | North Carolina | $61,407 | $30 |
| 18 | Missouri | $61,193 | $29 |
| 19 | Florida | $58,983 | $28 |
| Rank | Company | Average salary | Hourly rate | Job openings |
|---|---|---|---|---|
| 1 | Westpac | $135,737 | $65.26 | |
| 2 | MUFG EMEA | $118,613 | $57.03 | |
| 3 | First Commonwealth Bank | $103,786 | $49.90 | 7 |
| 4 | Royal Bank of Canada | $102,718 | $49.38 | 30 |
| 5 | Central Pacific Bank | $100,669 | $48.40 | 14 |
| 6 | Cambridge Savings Bank | $95,953 | $46.13 | |
| 7 | JPMorgan Chase & Co. | $95,101 | $45.72 | 832 |
| 8 | Bank of America | $85,876 | $41.29 | 76 |
| 9 | Wells Fargo | $83,585 | $40.19 | 23 |
| 10 | Banco de Bogota Miami Agency | $81,027 | $38.96 | |
| 11 | Old National Bank | $62,138 | $29.87 | 28 |
| 12 | First Foundation | $61,644 | $29.64 | 4 |
| 13 | CCBFinancial | $54,187 | $26.05 | |
| 14 | MUFG Americas Holdings | $38,041 | $18.29 | 17 |
A corporate banking officer job description should include a summary of the role, required skills, and a list of responsibilities. It's also good to include a salary range and the first name of the hiring manager. To help get you started, here's an example of a corporate banking officer job description:
To find corporate banking officers for your business, try out a few different recruiting strategies:
During your first interview to recruit corporate banking officers, engage with candidates to learn about their interest in the role and experience in the field. During the following interview, you'll be able to go into more detail about the company, the position, and the responsibilities.
It's also good to ask about candidates' unique skills and talents. You can move on to the technical interview if a candidate is good enough for the next step.
The right interview questions can help you assess a candidate's hard skills, behavioral intelligence, and soft skills.
Once you've decided on a perfect corporate banking officer candidate, it's time to write an offer letter. In addition to salary, it should include benefits and perks available to the employee. Qualified candidates may be considered for other positions, so make sure your offer is competitive. Candidates may wish to negotiate. Once you've settled on the details, formalize your agreement with a contract.
It's equally important to follow up with applicants who don't get the job with an email letting them know that the position has been filled.
To prepare for the new employee's start date, you can create an onboarding schedule and complete any necessary paperwork, such as employee action forms and onboarding documents like I-9 forms, benefits enrollment, and federal and state tax forms. Human Resources should also ensure that a new employee file is created.
There are different types of costs for hiring corporate banking officers. One-time cost per hire for the recruitment process. Ongoing costs include employee salary, training, onboarding, benefits, insurance, and equipment. It is essential to consider all of these costs when evaluating hiring a new corporate banking officer employee.
You can expect to pay around $91,218 per year for a corporate banking officer, as this is the median yearly salary nationally. This can vary depending on what state or city you're hiring in. If you're hiring for contract work or on a per-project basis, hourly rates for corporate banking officers in the US typically range between $27 and $67 an hour.