The following article discusses the career path of Personal Banking Manager. Learn about how to become one, education requirements, job duties, traits and qualities, national salary outlook as well as top national employers of Personal Banking Managers.
Personal banking managers handle a bank’s day to day operations in relation to personal customers. Usually, these banks are owned by larger financial organizations. The personal banking manager ensures that all policies are properly implemented and adhered to, including legal regulations. They also supervise other bank employees.
These managers implement budgets and operations to allow the bank to remain profitable. They do this by finding more personal banking customers and by focusing on marketing of the branch at the same time.
They often have to receive new training on rules and regulations, and they must then train their staff on issues on what they have learned. They have a lot of authority in terms of which staff to recruit and retain, which means they also have a lot of human resource knowledge.
Other job duties of a personal banking manager include:
- Managing the daily activities of their branch as it pertains to personal customers. This includes profitability, HR, sales, and marketing.
- Developing and maintaining excellent relationships with personal banking customers, business partners, and the community as a whole.
- Creating, developing, and implementing new strategies to ensure that new customers come to the bank, while improving sales and services at the same time.
- Motivating, supervising, and leading staff, taking on HR responsibilities for the team.
Where We Work
According to the U.S. Bureau of Labor Statistics, there were 580,400 financial managers in 2016, a profession closely related to personal banking managers. The largest employers of these professionals were:
- Finance and insurance: 29%
- Professional, scientific, and technical services: 12%
- Management of companies and enterprises: 11%
- Government: 7%
- Manufacturing: 7%
How to Become
It is generally expected that a personal banking manager holds a graduate degree, preferable the master of business administration (MBA), although finance or economics are also accepted. Some employers will accept those with only a bachelor’s degree if they have sufficient experience and are willing to complete a graduate degree at a later stage.
A personal banking manager will typically have at least five years of experience at management level in a financial field, as well as holding a graduate degree. They often have a background as a financial analyst, securities sales agent, or accountant.
The most acceptable master’s degree is the MBA, although those with a master’s degree in economics, accounting, or finance are also acceptable. These graduate degrees demonstrate that an individual has the necessary analytical skills and understanding of software and financial analysis.
There is no requirement for a personal banking manager to be certified, but it can improve their career prospects. The Chartered Financial Analyst (CFA) is a highly respected certification, and also the Certified Treasury Professional offered by the Association for Financial Professionals. Some personal banking managers are licensed as a Certified Public Accountant (CPA), which is provided by the American Institute of Certified Public Accountants (AICPA).
Traits & Qualities
The most effective personal banking managers have the following traits to some degree or other:
- Strong analytical skills
- Excellent communication skills, both verbal and written, with a particular focus on report writing
- Detailed oriented
- Great mathematical skills
- Well organized
- Strong team workers
- Most Reported
Salary by State
The following section lists Personal Banking Manager salaries in each state around the country. The figures are based on the total number of job postings through Indeed.com. For example, North Carolina had the largest quoted salary of $78,894 while Alaska had the smallest quoted salary of $26,400.
Top 20 National Employers
According to Indeed.com, the following states had employers looking to hire a Personal Banking Manager. The quoted salary figure represents the average salary from all job postings by this employer.
|Employer Name||Location||Average Salary|
|Robert Half Technology Personal Banking Manager||North Carolina||$122,118|
|Clinical Management Consultants Personal Banking Manager||Maryland||$92,937|
|N2 Publishing Personal Banking Manager||Ohio||$83,349|
|Bank Of America Personal Banking Manager||Massachusetts||$72,068|
|The Savings Bank Personal Banking Manager||New York||$70,000|
|BMO Harris Bank Personal Banking Manager||Illinois||$68,273|
|Nason & Nason Personal Banking Manager||Florida||$57,109|
|Wells Fargo Personal Banking Manager||California||$51,599|
|Huntington Personal Banking Manager||Michigan||$50,348|
|Huntington Bank Personal Banking Manager||Michigan||$50,316|
- Personal Finance Manager | SCE FCU
- Personal Banking Manager CV – samplecvs.org
- Private banking – Wikipedia
|Career Name||Average Salary|
|Human Resources Generalist||$54,497|
|Public Relations Manager||$51,303|
|Social Media Manager||$50,861|