Serves wealthy clients at a bank, handling their lending, deposits and banking needs and connecting them with investment and trust services. BLS does not publish separate figures for personal financial advisors; it counts them within financial advisor (SOC 13-2052), whose median pay is $105,070 a year (BLS OEWS, May 2025). Typical entry-level education: Bachelor's degree.
- SOC 13-2052
- Business and Financial Operations
- Last updated October 9, 2026
At a glance
Private Banker in four numbers
- Median pay
- $105,070a year, or $50.51/hrBLS OEWS, May 2025Lowest 10% $50KTop 10% $357K
US median, all jobs: $50,980
- Projected growth
- +1.4%Slower than averageBLS EP, 2025–2035This career+1.4%All jobs+3.5%
Projected employment change, 2025–2035 Item Value This career +1.4% All jobs +3.5% - Openings a year
- 17,100299,400 jobs todayBLS EP, 2025–2035
- Jobs in 2025299.4K
- Projected 2035303.5K
Employment, 2025–2035 Item Value Jobs in 2025 299.4K Projected 2035 303.5K - Typical education
- Bachelor'sneeded to enterBLS EP, 2025–2035; mix: O*NET
- Certificate7.7%
- Bachelor's57.7%
- Post-bacc certificate23.1%
- Master's11.5%
Highest education held by personal financial advisors Segment Value Certificate 7.7% Bachelor's 57.7% Post-bacc certificate 23.1% Master's 11.5%
Also advertised as: Private Banking Relationship Manager, Private Client Banker, Private Banking Officer, Relationship Manager, Private Bank, Private Wealth Banker.
Pay
How much do Personal Financial Advisors make?
Every private banker in the US, by percentile of annual wage
Median
$105,070
Middle half earn $72,440 to $176,790
- 10th
- $50,190
- 25th
- $72,440
- 75th
- $176,790
- 90th
- $357,020
All US occupations: $50,980
| Percentile | Value |
|---|---|
| 10th | $50,190 |
| 25th | $72,440 |
| Median | $105,070 |
| 75th | $176,790 |
| 90th | $357,020 |
| All US occupations | $50,980 |
Source: BLS OEWS, May 2025
- Median annual wage
- $105,070
- Median hourly wage
- $50.51/hr
- Mean annual wage
- $156,670
- People employed
- 266,800
Versus all US occupations
At $105,070, Personal Financial Advisors earn 106% above the $50,980 median across all US occupations, a difference of $54,090 a year.
Versus business and financial operations occupations
Inside the Business and Financial Operations group, where the middle occupation pays $80,730, this is 30% above the group median.
Pay range
The top 10% earn $357,020 or more while the bottom 10% earn $50,190, a gap of 7.1×. That is an unusually wide spread, which usually tracks specialisation, employer type and years of experience.
Rank in the bank
This median pays more than 79% of the 1,741 occupations in the NueCareer career bank.
Highest-paying state
New York pays the most at $166,400, and still leads at $154,187 once local prices are taken into account.
Pay by state
Which states pay Personal Financial Advisors the most?
State medians come from the same OEWS release as the national figures. The cost-of-living column divides each state median by that state's BEA Regional Price Parity, restating pay in national-average dollars so a high-cost state and a low-cost one can be compared directly.
| State | Median | COL-adjusted | Employed |
|---|---|---|---|
| 1New York | $166,400 | $154,187 | 21,550 |
| 2New Jersey | $158,570 | $145,738 | 9,300 |
| 3California | $130,330 | $117,711 | 32,200 |
| 4Connecticut | $129,720 | $125,200 | N/A |
| 5South Dakota | $128,720 | $145,305 | 620 |
| 6Massachusetts | $125,670 | $118,829 | N/A |
| 7Delaware | $125,050 | $125,291 | N/A |
| 8Oregon | $122,830 | $118,836 | 3,070 |
| 9Illinois | $120,130 | $120,180 | 9,760 |
| 10Wisconsin | $119,430 | $126,925 | 5,200 |
Job outlook
Is Private Banker a growing career?
Employment change over 2025–2035, against every US occupation
Slower than average. +1.4% projected growth vs 3.5% for all occupations.
| Item | Value |
|---|---|
| Personal Financial Advisors | +1.4% |
| All US occupations | +3.5% |
Source: BLS EP, 2025–2035
Slower than average
BLS projects employment of Personal Financial Advisors to change 1.4% over 2025–2035, against 3.5% projected for all occupations. That is 4,100 more jobs.
Annual openings
About 17,100 openings are projected each year, 5.7% of the 299,400 jobs that existed in 2025. Most come from workers leaving the occupation, not from growth alone.
Getting in
How to become a Private Banker
A bachelor's degree in finance, business or economics is typical. Many private bankers start in commercial banking, credit analysis or retail branch management before moving to private banking. Credit training is important because lending is a core part of the job.
Licensing depends on whether the banker discusses investment products: some hold FINRA's Securities Industry Essentials exam, Series 7 and Series 66. Designations such as the Certified Private Wealth Advisor from the Investments and Wealth Institute or the Certified Financial Planner mark are common for senior bankers. Banks look for people who can build relationships with affluent clients and understand credit risk.
- 1
Typical entry-level education
Bachelor's degree
- 2
Work experience in a related occupation
None
- 3
Typical on-the-job training
Long-term on-the-job training
- 4
Preparation needed (O*NET job zone)
Medium preparation
BLS Employment Projections, 2025–2035; job zone from O*NET 31.0 Database.
What education people in the job have
O*NET incumbent survey: the highest level of education reported by people already working as personal financial advisors.
- Bachelor's Degree57.7%
- Post-Baccalaureate Certificate23.1%
- Master's Degree11.5%
- Post-Secondary Certificate7.7%
| Item | Value |
|---|---|
| Bachelor's Degree | 57.7% |
| Post-Baccalaureate Certificate | 23.1% |
| Master's Degree | 11.5% |
| Post-Secondary Certificate | 7.7% |
Source: O*NET 31.0 Database
The work
What does a Private Banker do?
Private bankers are the main banking contact for high-net-worth individuals, families and their businesses. They arrange custom loans, such as mortgages on high-value homes, lines of credit secured by investment portfolios, and financing for art or aircraft. They also manage deposit accounts, cash management and day-to-day requests that standard branches cannot handle.
Private bankers work as part of a team with investment advisors, trust officers and credit specialists. They bring in new clients, understand each client's full financial picture, and refer them to the bank's other services. Much of the role is responding quickly when a client needs something done.
Day-to-day tasks
- Structure custom loans and credit lines for wealthy clients
- Manage deposit and cash management relationships
- Analyze client financial statements and creditworthiness
- Refer clients to investment, trust and estate planning specialists
- Develop new client relationships through referrals and events
- Resolve complex service requests quickly
- Monitor client relationships for compliance and risk
Typical tasks, researched by NueCareer from the sources below.
Working conditions and hours
Private bankers work in bank offices in larger cities and affluent communities, often in quiet private suites rather than branches. They meet clients in person and travel to clients' homes or businesses. Hours are mostly regular, with evening networking events. Service expectations are high, and clients expect fast, personal responses.
Where the work happens
Indoors, climate-controlled
NeverEvery dayIndoors, in a climate-controlled space, every day.
Outdoors in all weather
NeverEvery dayAlmost never works outdoors.
Physical demands
Sitting
NeverAlmost all the timeSeated for more than half the working day.
Standing
NeverAlmost all the timeBending or twisting
NeverAlmost all the time
Working with people
Contact with other people
NoneConstantFace-to-face discussions
NeverEvery dayDealing with the public
Not importantExtremely important
Pressure and stakes
Strict deadlines
NeverEvery dayConflict situations
NeverEvery dayCost of a mistake
Not seriousExtremely serious
Autonomy
Freedom to decide
NoneA lotA lot of freedom to make decisions without checking first.
Conditions: O*NET Work Context survey. Each item has its own scale, so each dot is read against the two answers that end its own line.
Core skills
O*NET importance, 1 to 5
- Reading Comprehension4.1
- Active Listening4.1
- Speaking4.0
- Writing3.9
- Critical Thinking3.8
- Mathematics3.6
- Active Learning3.3
- Monitoring3.1
| Item | Value |
|---|---|
| Reading Comprehension | 4.1 |
| Active Listening | 4.1 |
| Speaking | 4.0 |
| Writing | 3.9 |
| Critical Thinking | 3.8 |
| Mathematics | 3.6 |
| Active Learning | 3.3 |
| Monitoring | 3.1 |
Source: O*NET 31.0 Database
Transferable skills
O*NET importance, 1 to 5
- Social Perceptiveness3.6
- Service Orientation3.6
- Complex Problem Solving3.6
- Judgment and Decision Making3.6
- Persuasion3.4
- Systems Analysis3.4
- Systems Evaluation3.4
- Coordination3.0
| Item | Value |
|---|---|
| Social Perceptiveness | 3.6 |
| Service Orientation | 3.6 |
| Complex Problem Solving | 3.6 |
| Judgment and Decision Making | 3.6 |
| Persuasion | 3.4 |
| Systems Analysis | 3.4 |
| Systems Evaluation | 3.4 |
| Coordination | 3.0 |
Source: O*NET 31.0 Database
Tools and software
- Customer relationship management CRM software · in demand
- Data base user interface and query software · in demand
- Development environment software · in demand
- Electronic mail software · in demand
- Object or component oriented development software · in demand
- Office suite software · in demand
- Presentation software · in demand
- Project management software · in demand
- Spreadsheet software · in demand
- Word processing software · in demand
- Accounting software
- Analytical or scientific software
“In demand” marks an O*NET Employer-Based Hot Technology, software named in real job postings for this occupation.
Personality fit
What personality type suits a Private Banker?
NueCareer estimate (Holland code ESC) built on O*NET's Financial Advisor profile, scored 1 to 7
| Axis | Private Banker |
|---|---|
| Realistic | 1 |
| Investigative | 3 |
| Artistic | 2 |
| Social | 4 |
| Enterprising | 6 |
| Conventional | 6 |
Source: O*NET 31.0 Database
What the work is built around
Day to day this is work built around leading, persuading, selling and making decisions, combined with organising, following procedures and working precisely with data.
- Enterprising5.9
- Conventional5.6
- Social4.5
- Investigative3.3
- Artistic1.7
- Realistic1.0
Closest MBTI types
NueCareer fit scores: cosine similarity between each MBTI type's interest vector and this occupation's O*NET interest profile. Not a BLS or O*NET figure; the method is documented on our methodology page.
Explore further
Careers related to Private Banker
O*NET related occupations
- Business and Financial Operations
- Business and Financial Operations
- Business and Financial Operations
- Sales and Related
Security, Commodity, and Financial Services Sales Agent
$78,660median a year
Most earn $48K to $213K
+1.4%Bachelor's - Management
- Business and Financial Operations
More business and financial operations careers
Median annual pay, with personal financial advisors highlighted
- Financial Advisor$105,070
- Private Banker$105,070
- Accountant$83,680
- Insurance Underwriter$81,370
- Coroner$80,730
- Claims Adjuster, Examiner, and Investigator$78,000
- Loan Officer$76,690
- Human Resources Specialist$75,940
- Appraiser and Assessor of Real Estate$67,960
| Item | Value |
|---|---|
| Financial Advisor | $105,070 |
| Private Banker | $105,070 |
| Accountant | $83,680 |
| Insurance Underwriter | $81,370 |
| Coroner | $80,730 |
| Claims Adjuster, Examiner, and Investigator | $78,000 |
| Loan Officer | $76,690 |
| Human Resources Specialist | $75,940 |
| Appraiser and Assessor of Real Estate | $67,960 |
Source: BLS OEWS, May 2025
Lists Private Banker appears on
Questions
Private Banker: frequently asked questions
How much do Personal Financial Advisors make?
BLS does not publish a separate wage for personal financial advisors. It counts them within financial advisor, whose median pay is $105,070 a year (BLS OEWS, May 2025). The middle half of that occupation earn between $72,440 and $176,790, and the top 10% earn $357,020 or more.
Do you need a degree to become a Private Banker?
Yes. BLS reports a bachelor's degree as the typical entry-level education for Personal Financial Advisors, and O*NET rates the preparation needed as medium preparation. BLS also lists long-term on-the-job training as typical on-the-job training. In O*NET's survey of people already doing the job, 57.7% hold bachelor's degree.
Is Private Banker a growing career?
It is growing, but slowly: 1.4% over 2025–2035 against 3.5% for all occupations (BLS EP, 2025–2035). BLS still projects about 17,100 openings a year, mostly from workers retiring or moving to other work.
What does a Private Banker do?
Private bankers are the main banking contact for high-net-worth individuals, families and their businesses. A typical task: structure custom loans and credit lines for wealthy clients. Employers most often ask for Customer relationship management CRM software, Data base user interface and query software, Development environment software.
Which states pay Personal Financial Advisors the most?
The highest state medians for Personal Financial Advisors are New York ($166,400), New Jersey ($158,570), California ($130,330) (BLS OEWS, May 2025).
What personality type suits a Private Banker?
O*NET scores Personal Financial Advisors highest on the Enterprising, Conventional and Social interest areas, so the work mixes leading, persuading, selling and making decisions with organising, following procedures and working precisely with data. On NueCareer's MBTI-to-interest mapping the closest types are ESFJ, ESTJ. Personality is a fit signal, not a gate. The free NueCareer quiz scores your own profile against all 1,731 careers in the bank.