Relationship bankers work closely with their clients to manage all their financial needs at a bank. They handle personal banking, small business banking, loans and mortgages, investments, and even trusts. These professionals work to develop new relationships and cultivate existing ones, and they sell additional financial services to broaden a client's relationship with the bank. Relationship bankers often work in retail banks, but they can also find employment in investment banks and corporate banks.
In general, the job market for relationship bankers and loan officers should continue to grow at an average rate. The need for these professionals depends greatly on the economy. Future economic booms could create a serious demand for experienced relationship bankers, while a recession may tighten the amount of jobs in this field. Candidates considering a job in this field should also remain aware of the increasing presence of online banking, which may temper future growth in banking.
Relationship Banker Job Salary Information
On average, relationship bankers earn about $60,000 a year. Those on the lower end of the spectrum earn under $32,000 a year, while those at the top of their field earn over $120,000 a year. Some relationship bankers may also receive commissions for meeting certain goals, originating a particular number of loans, or opening a set number of new accounts. Bankers may also receive bonuses when their clients' accounts perform particularly well, but these extras vary significantly from employer to employer.