Relationship bankers otherwise known as personal bankers are bank employees that are responsible for providing financial advice to members. It is your duty as a relationship banker to maintain effective working relationships with clients. Also, you are to build trust with clients and make sure their financial transactions are steered towards the bank you represent. To do this, you must have adequate knowledge of the services offered by your bank and assist clients in managing their accounts. Furthermore, you will need to think up and implement events to promote business growth and further strengthen the bank-client relationship.
A career as a relationship banker requires you to have a bachelor's degree in business, finance, or a related field. You need to exhibit good communication and customer service skills. It is also crucial to possess excellent math skills and you must be detail-oriented. Relationship bankers earn an average annual salary of $33,753 or $16 hourly.
What is a Relationship Banker?
What Does a Relationship Banker Do
There are certain skills that many relationship bankers have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed customer-service skills, initiative and analytical skills.
How To Become a Relationship Banker
If you're interested in becoming a relationship banker, one of the first things to consider is how much education you need. We've determined that 63.8% of relationship bankers have a bachelor's degree. In terms of higher education levels, we found that 6.9% of relationship bankers have master's degrees. Even though most relationship bankers have a college degree, it's possible to become one with only a high school degree or GED.
Relationship Banker Career Paths
In addition to switching up your job search, it might prove helpful to look at a career path for your specific job. Now, what's a career path you ask? Well, it's practically a map that shows how you might advance from one job title to another. Our career paths are especially detailed with salary changes. So, for example, if you started out with the role of senior teller you might progress to a role such as teller supervisor eventually. Later on in your career, you could end up with the title manager, assistant vice president.
Average Salary for a Relationship Banker
What Am I Worth?
Top Colleges for Relationship Bankers
1. University of Pennsylvania
Philadelphia, PA • Private
2. Northwestern University
Evanston, IL • Private
3. University of Southern California
Los Angeles, CA • Private
4. SUNY at Binghamton
Vestal, NY • Private
5. Villanova University
Villanova, PA • Private
6. San Diego State University
San Diego, CA • Private
7. Bentley University
Waltham, MA • Private
8. Boston University
Boston, MA • Private
9. SUNY Stony Brook
Stony Brook, NY • Private
10. New York University
New York, NY • Private
Top Skills For a Relationship Banker
The skills section on your resume can be almost as important as the experience section, so you want it to be an accurate portrayal of what you can do. Luckily, we've found all of the skills you'll need so even if you don't have these skills yet, you know what you need to work on. Out of all the resumes we looked through, 12.5% of relationship bankers listed financial services on their resume, but soft skills such as customer-service skills and initiative are important as well.
Choose From 10+ Customizable Relationship Banker Resume templates
Zippia allows you to choose from different easy-to-use Relationship Banker templates, and provides you with expert advice. Using the templates, you can rest assured that the structure and format of your Relationship Banker resume is top notch. Choose a template with the colors, fonts & text sizes that are appropriate for your industry.
Relationship Banker Demographics
Relationship Banker Gender Distribution
After extensive research and analysis, Zippia's data science team found that:
- Among relationship bankers, 53.4% of them are women, while 46.6% are men.
- The most common race/ethnicity among relationship bankers is White, which makes up 72.0% of all relationship bankers.
- The most common foreign language among relationship bankers is Spanish at 60.2%.
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Best States For a Relationship Banker
Some places are better than others when it comes to starting a career as a relationship banker. The best states for people in this position are New York, Connecticut, New Hampshire, and Rhode Island. Relationship bankers make the most in New York with an average salary of $56,986. Whereas in Connecticut and New Hampshire, they would average $48,942 and $45,573, respectively. While relationship bankers would only make an average of $45,047 in Rhode Island, you would still make more there than in the rest of the country. We determined these as the best states based on job availability and pay. By finding the median salary, cost of living, and using the Bureau of Labor Statistics' Location Quotient, we narrowed down our list of states to these four.
1. New York
$56,986
Avg. Salary
2. Connecticut
$48,942
Avg. Salary
3. Rhode Island
$45,047
Avg. Salary
How Do Relationship Banker Rate Their Jobs?
Top Relationship Banker Employers
Most Common Employers For Relationship Banker
| Rank  | Company  | Average Salary  | Hourly Rate  | Job Openings  |
|---|---|---|---|---|
| 1 | J.P. Morgan | $38,547 | $18.53 | 41 |
| 2 | M&T Bank | $37,633 | $18.09 | 639 |
| 3 | JPMorgan Chase & Co. | $37,426 | $17.99 | 1,511 |
| 4 | BankUnited | $36,683 | $17.64 | 55 |
| 5 | Bank of America | $36,547 | $17.57 | 759 |
| 6 | Wells Fargo | $36,044 | $17.33 | 132 |
| 7 | BMO Harris Bank | $35,898 | $17.26 | 53 |
| 8 | Huntington National Bank | $35,629 | $17.13 | 140 |
| 9 | Associated Bank | $35,602 | $17.12 | 68 |
| 10 | Regions Bank | $35,414 | $17.03 | 243 |
Relationship Banker Videos
Becoming a Relationship Banker FAQs
Do you need a degree to be a relationship banker?
No, you do not need a degree to be a relationship banker; however, you need a minimum of a high school diploma plus previous banking experience. Banks train relationship bankers in-house, but an associate's or bachelor's in finance, business, or a related degree can lead to more opportunities and higher salaries.
Is being a relationship banker hard?
Yes, being a relationship banker is hard for those who can't handle the pressure of guiding others financially. As a relationship banker, you are handling personal and business affairs for your clients in regards to investments, loans, and trust management. It's a job that is both interactive, socially, and analytical.