How Much Does a Bank Branch Manager Make? (2024 Salary Guide)

How Much Does a Bank Branch Manager Earn?

Bank branch managers are responsible for the day-to-day operations of their branch, including overseeing staff, managing customer accounts, and providing financial advice. They play a critical role in the success of their branch and the bank as a whole.

So, how much does a bank branch manager earn? The answer to this question depends on a number of factors, including the size of the bank, the location of the branch, and the manager’s experience and education.

In this article, we’ll take a closer look at how much bank branch managers earn, explore the factors that influence their salaries, and provide tips for increasing your earning potential as a bank branch manager.

Factors that Influence Bank Branch Manager Salaries

There are a number of factors that can affect a bank branch manager’s salary, including:

  • The size of the bank: Bank branch managers at larger banks typically earn more than those at smaller banks. This is because larger banks have more resources and can afford to pay their managers higher salaries.
  • The location of the branch: Bank branch managers in high-cost areas, such as New York City or San Francisco, typically earn more than those in lower-cost areas. This is because the cost of living is higher in these areas, so banks need to pay their managers more to compensate for the higher cost of living.
  • The manager’s experience and education: Bank branch managers with more experience and education typically earn more than those with less experience and education. This is because more experienced and educated managers are more likely to be able to perform their job duties effectively.

Tips for Increasing Your Earning Potential as a Bank Branch Manager

If you’re interested in becoming a bank branch manager, there are a few things you can do to increase your earning potential:

  • Get as much experience as possible: The more experience you have as a bank branch manager, the more likely you are to earn a higher salary. Try to get experience at a variety of banks, in different locations, and in different types of roles.
  • Get a higher education: Having a college degree or an MBA can increase your earning potential as a bank branch manager.
  • Develop your skills: Take courses, attend workshops, and read books to develop your skills as a bank branch manager. The more skills you have, the more valuable you’ll be to your employer and the more likely you are to earn a higher salary.

Bank branch managers play a critical role in the success of their branch and the bank as a whole. They are responsible for the day-to-day operations of their branch, including overseeing staff, managing customer accounts, and providing financial advice.

The amount of money a bank branch manager earns depends on a number of factors, including the size of the bank, the location of the branch, and the manager’s experience and education. By getting as much experience as possible, getting a higher education, and developing your skills, you can increase your earning potential as a bank branch manager.

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Bank Average Salary Source
Wells Fargo $117,594 PayScale
Bank of America $115,137 PayScale
Chase $112,596 PayScale
Citigroup $111,921 PayScale

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Factors Affecting Bank Branch Manager Salaries

The salary of a bank branch manager can vary depending on a number of factors, including:

  • The size of the bank. Bank branch managers at larger banks typically earn more than those at smaller banks. This is because larger banks have more resources and can afford to pay their employees higher salaries.
  • The location of the bank. Bank branch managers in urban areas typically earn more than those in rural areas. This is because the cost of living is higher in urban areas, and banks need to pay their employees more in order to attract and retain talent.
  • The experience of the bank branch manager. Bank branch managers with more experience typically earn more than those with less experience. This is because more experienced bank branch managers have a greater understanding of the banking industry and are more capable of managing a branch.
  • The education of the bank branch manager. Bank branch managers with a college degree typically earn more than those without a college degree. This is because a college degree provides bank branch managers with the knowledge and skills they need to be successful in their role.

The Average Salary of Bank Branch Managers

The average salary of a bank branch manager varies depending on the source you use. According to the Bureau of Labor Statistics (BLS), the median annual salary for bank branch managers was $106,730 in May 2020. This means that half of all bank branch managers earned more than $106,730 and half earned less.

PayScale, a compensation data company, reports that the average salary for bank branch managers is $92,276 per year. Glassdoor, another compensation data company, reports that the average salary for bank branch managers is $95,012 per year.

It is important to note that these are just averages, and the actual salary of a bank branch manager can vary significantly depending on the factors discussed above.

The salary of a bank branch manager is a complex topic that is affected by a number of factors. The size of the bank, the location of the bank, the experience of the bank branch manager, and the education of the bank branch manager are all important factors that can impact salary.

If you are interested in becoming a bank branch manager, it is important to do your research and understand the factors that can affect your salary. This will help you make informed decisions about your career and set realistic expectations for your salary.

How Much Does A Bank Branch Manager Earn?

The average salary for a bank branch manager in the United States is $112,961 per year, according to the Bureau of Labor Statistics. However, the actual salary you can expect to earn will vary depending on a number of factors, including your experience, education, location, and the size of the bank you work for.

Experience

Bank branch managers typically earn more money with each year of experience they have. In general, you can expect to earn a starting salary of around $50,000 per year as a bank branch manager with no experience. With five years of experience, you can expect to earn an average salary of around $75,000 per year. And with 10 years of experience, you can expect to earn an average salary of around $100,000 per year.

Education

Bank branch managers who have a college degree typically earn more money than those who do not have a degree. In general, you can expect to earn a starting salary of around $55,000 per year with a bachelor’s degree in business administration or a related field. With five years of experience, you can expect to earn an average salary of around $80,000 per year. And with 10 years of experience, you can expect to earn an average salary of around $110,000 per year.

Location

The cost of living in your area can also affect your salary as a bank branch manager. In general, you can expect to earn more money in major cities than in rural areas. For example, the average salary for a bank branch manager in New York City is around $140,000 per year, while the average salary for a bank branch manager in Des Moines, Iowa is around $90,000 per year.

Size of the Bank

The size of the bank you work for can also affect your salary. In general, you can expect to earn more money at larger banks than at smaller banks. For example, the average salary for a bank branch manager at a bank with over $100 billion in assets is around $120,000 per year, while the average salary for a bank branch manager at a bank with less than $10 billion in assets is around $90,000 per year.

Other Factors

Other factors that can affect your salary as a bank branch manager include your skills, certifications, and performance reviews. If you have specialized skills or certifications, you can expect to earn more money. And if you consistently receive positive performance reviews, you can expect to earn a raise.

The average salary for a bank branch manager in the United States is $112,961 per year. However, the actual salary you can expect to earn will vary depending on a number of factors, including your experience, education, location, and the size of the bank you work for.

If you are interested in becoming a bank branch manager, it is important to have a college degree in business administration or a related field. You should also have strong communication and interpersonal skills, as well as the ability to manage a team of employees.

With hard work and dedication, you can achieve a successful career as a bank branch manager.

The Highest-Paying Bank Branch Manager Jobs

The highest-paying bank branch manager jobs are typically found at large banks, in major cities, and in specialized fields. Here are some of the highest-paying bank branch manager jobs to consider:

  • Bank branch manager at a large bank. Bank branch managers at large banks typically earn more money than those at smaller banks. For example, the average salary for a bank branch manager at a bank with over $100 billion in assets is around $120,000 per year.
  • Bank branch manager in a major city. Bank branch managers in major cities typically earn more money than those in rural areas. For example, the average salary for a bank branch manager in New York City is around $140,000 per year, while the average salary for a bank branch manager in Des Moines, Iowa is around $90,000 per year.
  • Bank branch manager in a specialized field. Bank branch managers in specialized fields, such as investment banking or wealth management, typically earn more money than those in general banking. For example, the average salary for a bank branch manager in investment banking is around $150,000 per year, while the average salary for a bank branch manager in wealth management is around $160,000 per year.

Tips for Increasing Your Bank Branch Manager Salary

How much does a bank branch manager make?

The average salary for a bank branch manager is \$106,000 per year. However, the salary range can vary significantly depending on the bank, the location, and the manager’s experience.

What factors affect a bank branch manager’s salary?

The following factors can affect a bank branch manager’s salary:

  • Bank size: Bank branch managers at larger banks typically earn more than those at smaller banks.
  • Location: Bank branch managers in high-cost areas typically earn more than those in low-cost areas.
  • Experience: Bank branch managers with more experience typically earn more than those with less experience.
  • Education: Bank branch managers with a college degree typically earn more than those without a college degree.

What are the benefits of being a bank branch manager?

In addition to a competitive salary, bank branch managers typically enjoy the following benefits:

  • Opportunity for advancement: Bank branch managers can advance to higher-level positions within the bank, such as regional manager or vice president.
  • Job security: Bank branch managers typically have job security, as banks are generally stable businesses.
  • Good work-life balance: Bank branch managers typically have a good work-life balance, as they typically work regular hours and do not have to travel frequently.

What are the challenges of being a bank branch manager?

Bank branch managers face a number of challenges, including:

  • High-pressure environment: Bank branch managers are under a lot of pressure to meet sales goals and provide excellent customer service.
  • Long hours: Bank branch managers typically work long hours, including evenings and weekends.
  • Stressful job: Bank branch managers deal with a lot of stress, as they are responsible for the day-to-day operations of the branch and the satisfaction of their customers.

How can I become a bank branch manager?

To become a bank branch manager, you typically need the following:

  • A college degree in business or a related field
  • Several years of experience working in a bank
  • Strong leadership and management skills
  • Excellent communication and customer service skills
  • The ability to work independently and as part of a team

What are the next steps for me?

If you are interested in becoming a bank branch manager, the following steps can help you get started:

1. Get a college degree in business or a related field. This will provide you with the foundation of knowledge and skills you need to be a successful bank branch manager.
2. Gain experience working in a bank. This will give you the opportunity to learn the ins and outs of the banking industry and develop the skills you need to be a successful branch manager.
3. Develop your leadership and management skills. This can be done through taking courses, reading books, and seeking out opportunities to lead and manage others.
4. Improve your communication and customer service skills. This can be done through taking courses, reading books, and practicing your skills with friends, family, and colleagues.
5. Build your network. This will help you connect with people who can help you advance your career, such as mentors, colleagues, and industry leaders.

By following these steps, you can increase your chances of becoming a successful bank branch manager.

In this article, we’ve discussed the different factors that influence a bank branch manager’s salary, including education, experience, and location. We’ve also provided a salary range for bank branch managers in the United States.

It’s important to note that the salary of a bank branch manager can vary significantly depending on the specific bank and the location of the branch. However, the information in this article can help you get a better idea of what to expect when you’re negotiating your salary.

Here are some key takeaways:

  • The average salary for a bank branch manager in the United States is $107,991.
  • The top 10% of bank branch managers earn more than $160,000 per year.
  • The bottom 10% of bank branch managers earn less than $60,000 per year.
  • Education, experience, and location are all important factors that influence a bank branch manager’s salary.

If you’re interested in becoming a bank branch manager, it’s important to have a strong educational background and relevant experience. You should also be prepared to relocate for a job, as the best-paying bank branch manager positions are often located in major cities.

Author Profile

Matthew Garfield
Matthew Garfield
I’m Matthew Garfield, the principal writer and strategist behind this blog.

My path in the financial sector is driven by a passion for sharing knowledge and aiding others in their financial journeys.

My foray into the financial world was rooted in a robust educational background. I pursued my undergraduate degree in Finance at a top-tier university, where I was known for my analytical skills and innovative approaches to financial problems. Following this, I furthered my education with a Master’s degree in Economics, specializing in market analysis and economic theory. This academic journey provided me with a solid foundation in financial principles, market dynamics, and economic policies.

After completing my education, I ventured into the corporate finance sector, where I gained invaluable experience over several years. My roles ranged from a financial analyst, where I delved deep into market trends and investment strategies, to a senior advisor, where I guided clients in making informed financial decisions. This experience in the corporate world honed my skills in understanding complex financial instruments, risk management, and strategic financial planning.

The transition from corporate finance to financial writing and education was a natural progression for me. Having accumulated a wealth of knowledge and experience, I felt a strong calling to share this expertise with a broader audience. This blog became the perfect platform for that. Here, I combine my academic background and professional insights to create content that is not only informative but also practical and relatable.

My goal is to demystify the financial world for our readers. Whether it’s explaining investment strategies, breaking down economic trends, or offering personalized financial advice, I aim to make these topics accessible to everyone. My articles are crafted to empower you with the knowledge to make informed financial decisions, whether you’re a seasoned investor or just starting to explore financial planning.