Am I underpaid? (Commercial Banking)

76partlycloudy's picture
Rank: Chimp | 8

I just took a role as a junior Relationship Manager at a Commercial Bank in NYC. The salary was $105,000 with "target" bonus of 35%. 1st year Associate level at Top 10 Bank.

I have 3 years of experience in CB. Is my salary low for a sales side role in Commercial Banking?

Comments (7)

Most Helpful
Dec 11, 2018

Not in my opinion.

I am in CA and I know that top notch Relationship Managers at the VP level with a very proven book have a range of anywhere from $125,000-$175,000 base. Depending if you are on a annual trust me bonus or a formula incentive plan, all-in comp for top notch mid market commercial bankers at a BB is probably $250,000-$300,000. These are guys that have been doing it for 10+ years.

Considering you are only 3 years in, I think your comp is "fine". If you are able to prove yourself as a RM and start bringing in relationships / revenue, you will have leverage and likely see a large pay bump. Or you can lateral to another Bank who will pay up for your relationships.

My point is - if you do well your comp has a lot of upside. But considering youre only 3 years in at a Jr RM level - I think your pay is fair.

    • 2
Dec 11, 2018

Didn't know we had Bulge Bracket commercial banks? Can you please elaborate?

    • 1
Dec 11, 2018

If anything, your comp is pretty high based on my experience. However, I'm in a lower COL city, so that might be the main discrepancy.

3 years into commercial banking generally doesn't break the bank.

Dec 11, 2018

What is commercial banking? Like bank tellers you mean? No, you're probably not under-paid. Its commercial banking bro..

    • 3
Dec 11, 2018

Yeah figured this post being in the IB forum would solicit a lot of hate. Probably should've been in the OTHER INDUSTRIES forum where most discussion is had for CB. Yea, exactly. In Commercial Banking - you work 40 hours behind the teller line and are paid $250,000/yr.

You IB guys jealous? :)

Dec 11, 2018

$250k a year? What level of CB? Not trying to be facetious just curious.

Dec 11, 2018