Just how much are the bankers making?

by 21 Feb 2014
Ever wondered if you’d be better off shifting to one of the big bank’s fancy HQ’s?

Have you considered whether you’re bringing in more than your counterparts at the other end of the phone at the banks? Now you can find out.

The latest Robert Walters Salary Survey  gives an insight into the average salaries for bank employees across Australia – from settlement clerks to the credit team and relationship managers.

The survey also gives projections for salaries in 2014, with some roles showing a substantial pay packet boost in the pipeline.

While no roles in the mortgage space were predicted to see a significant drop - and the majority look set to hold steady – relationship managers in Melbourne are set to reap the biggest rewards this year, with predictions of a salary increase of up to $50,000.

“An increase in vacancies at one of the ‘Big 4’ encouraged a flurry of activity last year,” said the report.

“This raised confidence among those who were previously reluctant to move, and it means this year more senior people will be open to discussions about new roles.”

Brisbane is set to receive slight increases for some roles of up to $10,000, while financial planners are likely to receive the biggest boost in base pay following the recent FoFa reforms.

“The increased number of prospective employees means organisations can afford to be more specific in their advertised vacancies, calling on experienced bankers with established portfolios and strong personal networks.”

While Adelaide salaries remained mostly steady, the focus for new hires will be on “exceptional client-facing skills”, said the report.

“There may even be an increase in opportunities for ambitious new graduates with sales potential, despite having limited work experience.”

According to the latest Seek Salary Survey, the mortgage sector saw a 4% increase in base salary overall between 2012 and 2013.

This compares to a 1% increase across the banking and financial services sector, and an overall 4% decline across all industries in Australia.

Role  2013 Salary (thousand $)    2014 Salary (thousand $) 
Relationship manager – Institutional  $120-150  $120-150
Relationship manager – corporate  $100-120  $110-120
Relationship manager – SME $70-80 $75-85
Senior credit risk analyst $80-90 $80-90

Role  2013 Salary (thousand $)   2014 Salary (thousand $)   2013 Contract Rate per hour   2014 Contract Rate per hour 
Relationship manager – Institutional$ $115-150 $120-160 $57-75 $60-80
Relationship manager – corporate $100-130 $100-130 $50-65 $50-65
Credit manager $90-125 $90-125 $45-62 $45-62
Mortgage manager $75-100  $75-95  $37-50 $37-50
Credit analyst $60-80 $65-85 $30-40 $32-42

Role  2013 Salary (thousand $)   2014 Salary (thousand $)   2013 Contract Rate per hour  2014 Contract Rate per hour 
Business banking relationship manager $90-100 $95-115 $40-60 $40-60
Relationship manager – corporate $135-180 $170-230 $70-90 $80-120
Relationship manager – commercial $110-150 $110-180 $50-80 $60-100
credit analyst $55-100 $55-100 $35-55 $35-55
Mortgage lender $65-80 $65-85 $30-40 $30-40
Branch manager $95-150 $95-150 $45-80 $45-80
Lending settlements clerk $45-60 $45-60 $25-30 $24-30



  • by Coast Broker 21/02/2014 12:35:05 PM

    So what about Sydney

  • by North Broker 21/02/2014 1:57:00 PM

    Exactly, so what?

  • by Yep 22/02/2014 7:59:33 PM

    The highest salary sub corporate was around $180K. This role would have targets of $50m p.a. Why apply at that level? If your good enough and back yourself as a broker, even $25m would do!!