Hi guys! I am looking for insight on the long-term salary progression of Private Banking. WSO has a lot of data on entry-level compensation, but I was hoping someone could share comp numbers for 5+ years of experience and maybe even MD comp ranges.
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Hey there! Based on the most helpful WSO content, it looks like the detailed compensation progression specifically for Private Banking isn't outlined in the context provided. However, there are some insights into compensation progression in finance roles that might be somewhat related.
For instance, in commercial banking, which can have some parallels to private banking, there's a mention of someone with about 7 years of experience making around 100k base + 20% bonus. At the VP level, which typically takes 6-7 years to reach, the base is around 100-120k with a bonus of 20-25%, and the hours are generally 9-5/6.
While this doesn't give you the exact numbers for Private Banking, it might give you a rough idea of the salary progression in similar banking roles. For more precise figures on Private Banking, I'd recommend diving into the WSO Company Database or checking out the salary data on the WSO forums where finance professionals often share their compensation details. You might find some golden nuggets of information there! Keep in mind, though, that compensation can vary widely depending on the bank, location, and the individual's performance.
Sources: Day in the Life--Middle Office (Risk), Salary progression for F500, Sucessful Senior Banker - Net Worth, What has been your total compensation progression in your career?, What is the career and salary progression for an average performer in high finance?
I’m quite interested to hear
Be more specific - are you looking for associate or VP comp in private banking?
I think 5 YOE maps to associate at JPM PB
VP and beyond. Thanks!
Depends on size of firm, size of AUM. Senior private bankers managing UHNW can earn 1MM+
bump
How many years of experience is that ?
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