What does a Private Banker do?

Private bankers manage money and oversee financial activities for high net-worth clients while developing relationships with clients. They provide banking services including personal cash management, secured and unsecured credit and investment management, and interest services. They are responsible for identifying potential new clients and working with them to build a lasting relationship to ultimately manage their wealth.

Private bankers work with clients to help meet financial needs or goals. They advise and consult with clients proactively and explain available financial services. They educate clients about investment options and inform them of potential risks when recommending investments. They are also required to closely monitor client account performance to ensure that the account is behaving positively and meeting the client's needs. Private bankers need a bachelor's degree in finance and relevant training in sales and client experience, private banking and wealth management, and formal credit training completion.

EducationBachelor's Degree
Work/Life Balance
3.4 ★
Salary Range--
Career Opportunity
3.3 ★
Avg. Experience8+ years

Private Banker Salaries

Average Base Pay

£57,733 /yr
Same as national average
Not including cash compensation
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Median: £58K
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Glassdoor Estimated Salary

Private Banker Career Path

Learn how to become a Private Banker, what skills and education you need to succeed, and what level of pay to expect at each step on your career path.

Private Banker
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Private Banker Insights

Read what Private Banker professionals have to say about their job experiences and view top companies for this career.
Private Client Banker
19 Oct 2021

“If you don't have phone experience... it might take a while before you have good bonuses”

Noven PharmaceuticalsNoven Pharmaceuticals
23 Sep 2019

“This is a great place to work with really nice people trying to meaningfully make a difference.”

Private Client Banker
11 Jun 2020

“I've worked with many amazing teams and had ample opportunities to grow and progress my career.”

JPMorgan Chase & Co
Private Client Banker
13 Dec 2021

“potential pay is good”

Kleinwort HambrosKleinwort Hambros
Private Bank Assistant
25 Jun 2021

“Pay and bonus is way below market”

16 Jan 2020

“Benefits are good but not great.”

Private Client Banker
12 Sep 2020

“Great place to learn and grow your career.”

Memphis Division of Fire Services
15 Feb 2020

“Great schedule and pay.”

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Private Banker Interviews

Related Careers

Relationship Banker
13% skills overlap
Personal Banker
50% skills overlap
Banker Associate
Business Banker
38% skills overlap

Private Banker jobs

Frequently asked questions about the role and responsibilities of a private banker

When working as a private banker, the most common skills you will need to perform your job and for career success are dodd-frank, Renewal, Banking Experience, Relationship-building and Excellent Communication.

The most similar professions to private banker are:
  • Relationship Banker
  • Personal Banker
  • Banker Associate
  • Business Banker

The most common qualifications to become a private banker is a minimum of a Bachelor's Degree and an average of 0 - 1 of experience not including years spent in education and/or training.