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Banking is not known for high salaries (it's a margin business which puts downward pressure on pay). Starting salaries in commercial banking with a bachelor's degree range in 1995/96 have been in the $22,000 to $32,000 range. Starting salaries with an MBA degree range from $28,000 to $40,000 (up to low $60s at money center banks). After five to ten years in banking you should expect a salary in the $40,000 to $50,000 range. Below are salaries and typical experience for bankers:

Trainee/credit analyst
Junior loan officer
Portfolio lender
Senior corporate loan officer
Loan department manager

$24,000 (Bachelor's degree)
$34,000 (Bachelor's + 3 years)
$45,000 (5-7 years)
$50,000 (10 years)
$80,00010 years or more


Dave Vetta
Vice President
Bank One Capital

Offers made by major regionals and money center banks in 1998 to MBA students have ranged from the high 40s to low 70s. A good offer would be somewhere in the mid-50s. The following describe average salaries for money center/regional banks from the 1995 Robert Half Salary Guide. Deduct 15% for banks with less than $100 million in assets.

Senior VP/Head of Lending
Lending Division Head
Commercial Lending (3yrs + exp.)
Commercial Real Estate Mortgage Lender
Residential Real Estate Mortgage Lender
Consumer Loan Officer
Investment Banker/Corporate Finance
Executive/Professional Lender
Loan Review Officer
Loan Workout Officer
Branch Manager
Branch Administrator/Market Manager
Marketing Director
Asset/Liability Investment Manager
Operations Officer
Corporate Trust Officer
Personal Trust Officer
Employee Benefit Trust Officer


For those of you after the big bucks, they can be had in banking. A good portfolio manager can get hired at a bank with a salary in excess of $500,000. Chief Financial Officers at money center banks can command $300,000 to $500,000 with a hefty bonus added in. Chief technology officers only make slighly less.