Personal Banker at Chase?

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 5 years ago '10        #1
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GBREEZE 260 heat pts260
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Personal Banker at Chase?
 

 
I am thinking about changing my career from a manager at a Retail wireless provider to personal banker at Chase. I am thinking about looking into this mainly because of the hours I work in retail which are ridiculous. The money is good (making about 75k a yr) and overall a decent company to work for but I have been doing this for 7yrs now (started at bottom and moved up) and the randomness of the schedule, (open one day, close the next) meetings, holidays, and just not being with my family is starting to take its toll on me. It wouldnt be so bad if I had a set schedule, which I don't. I am just trying to see whats out there and if anyone has or is working for Chase as a personal banker. I need to make around the same amount of money I making now, it could be maybe 10k less, but having a more set schedule and being with fam is more important to me at this point. Retail is a young man's game and I am now 32 and looking to progress my career and find a spot I can retire at. So BX fam, what's your advice? Can a personal banker get that kind of gwap? FYI, I am a hustler and like to sell.

67 comments for "Personal Banker at Chase?"

 5 years ago '04        #2
egotistical 1 heat pts
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 GBREEZE said:
I am thinking about changing my career from a manager at a Retail wireless provider to personal banker at Chase. I am thinking about looking into this mainly because of the hours I work in retail which are ridiculous. The money is good (making about 75k a yr) and overall a decent company to work for but I have been doing this for 7yrs now (started at bottom and moved up) and the randomness of the schedule, (open one day, close the next) meetings, holidays, and just not being with my family is starting to take its toll on me. It wouldnt be so bad if I had a set schedule, which I don't. I am just trying to see whats out there and if anyone has or is working for Chase as a personal banker. I need to make around the same amount of money I making now, it could be maybe 10k less, but having a more set schedule and being with fam is more important to me at this point. Retail is a young man's game and I am now 32 and looking to progress my career and find a spot I can retire at. So BX fam, what's your advice? Can a personal banker get that kind of gwap? FYI, I am a hustler and like to sell.
Personal Bankers at Chase could come around maybe 60k. This would be if you were at a good location and you sell your a.ss off... this would definitely give you a place to retire or a long term career after some years you could possibly become manager.
 5 years ago '10        #3
GBREEZE 260 heat pts260 OP
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 egotistical said:
Personal Bankers at Chase could come around maybe 60k. This would be if you were at a good location and you sell your a.ss off... this would definitely give you a place to retire or a long term career after some years you could possibly become manager.
Have you worked there?
 5 years ago '10        #4
GBREEZE 260 heat pts260 OP
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bump...
 5 years ago '06        #5
LYTE 125 heat pts125
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I currently work at Chase.
w/o POTENTIAL monthly bonus, you will make anywhere from 38k-45k per year.

HOWEVER, if you're able to sell your a.ss off as homey mentioned, the amount of money is endless IF in prime location.

There are bankers that make more than managers do. And during bonus time for the big companies, some bankers make 22k on top of their regular salary.

again, that's all bonus & it is for sure you will get that but I do see it.
 5 years ago '10        #6
GBREEZE 260 heat pts260 OP
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 LYTE said:
I currently work at Chase.
w/o POTENTIAL monthly bonus, you will make anywhere from 38k-45k per year.

HOWEVER, if you're able to sell your a.ss off as homey mentioned, the amount of money is endless IF in prime location.

There are bankers that make more than managers do. And during bonus time for the big companies, some bankers make 22k on top of their regular salary.

again, that's all bonus & it is for sure you will get that but I do see it.
So bonus is commisson? What is your monthly target?
 5 years ago '07        #7
biff 13 heat pts13
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do it my homie works at wells fargo got a condo makin good money had no experience no college either u could do it sounds like u a true salesman
 5 years ago '06        #8
LYTE 125 heat pts125
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 GBREEZE said:
So bonus is commisson? What is your monthly target?
bonus is commission
monthly goal is 7 new checking account relationship, after that you eat off of everything. It is a system where we use a term call PVC(Product Value Credit)not 100% that what it stands for.

anyhow, each product gives you a certain PVCs and there are thresholds.
u get either no payout if u fall below threshold, 75%, 100%, 125% or 50% of pvcs you made that month.

basically a PVC is a $1.
i was doing ok pulling an extra 1000-2200 every month. I also didnt work hard & i dont have lic. With license to sell investments, you get your customer in sticky products where they cant get out so easy forcing you to lose PVCs & be charge back the next month.

So you're able to get monthly commission, quarterly commission for customer service & boost at the end of the year.

I heard Wells/Citi pay the most as far as salary but dont offer monthly bonus.(NOT CONFIRMED)
 5 years ago '07        #9
Mucz3087 11 heat pts11
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This is coming from a past banker at the bank in reference (it was my 2nd job outta school , have moved on since) When it comes to being a banker they will give u a salary from 35-45 k depending on your area and qualifications. Ive seen ppl in Nyc get from 35-42, 42 on the high side if you are licensed already. The kicker is LOCATION! If you get a great branch with traffic flow you will make another 15k in commission averaging about 1500PVC a month, which paid out at certain % i.e. 0-500 = 25% 500-100 = 70% (dont know exact numbers) You have to SELL your a.ss off honestly. I came in licensed got a slow branch and k!lled it being promoted in 8 months. I felt like it was very pety hustling checking accounts and forcing ppl into credit cards, not the part of the industry i wanted to go into. I think its a solid start to work your way up. Def stress your organization skills, your SALESS!!!!! skills, time management, and knowledge of their product base.
 5 years ago '12        #10
BlessInTheSky 6 heat pts
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 Mucz3087 said:
This is coming from a past banker at the bank in reference (it was my 2nd job outta school , have moved on since) When it comes to being a banker they will give u a salary from 35-45 k depending on your area and qualifications. Ive seen ppl in Nyc get from 35-42, 42 on the high side if you are licensed already. The kicker is LOCATION! If you get a great branch with traffic flow you will make another 15k in commission averaging about 1500PVC a month, which paid out at certain % i.e. 0-500 = 25% 500-100 = 70% (dont know exact numbers) You have to SELL your a.ss off honestly. I came in licensed got a slow branch and k!lled it being promoted in 8 months. I felt like it was very pety hustling checking accounts and forcing ppl into credit cards, not the part of the industry i wanted to go into. I think its a solid start to work your way up. Def stress your organization skills, your SALESS!!!!! skills, time management, and knowledge of their product base.
What if you enter with no sales skills? Or better yet, can you even get a Personal Banker job with zero sales experience?


Last edited by BlessInTheSky; 11-06-2012 at 06:17 PM..
 5 years ago '10        #11
GBREEZE 260 heat pts260 OP
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 LYTE said:
bonus is commission
monthly goal is 7 new checking account relationship, after that you eat off of everything. It is a system where we use a term call PVC(Product Value Credit)not 100% that what it stands for.

anyhow, each product gives you a certain PVCs and there are thresholds.
u get either no payout if u fall below threshold, 75%, 100%, 125% or 50% of pvcs you made that month.

basically a PVC is a $1.
i was doing ok pulling an extra 1000-2200 every month. I also didnt work hard & i dont have lic. With license to sell investments, you get your customer in sticky products where they cant get out so easy forcing you to lose PVCs & be charge back the next month.

So you're able to get monthly commission, quarterly commission for customer service & boost at the end of the year.

I heard Wells/Citi pay the most as far as salary but dont offer monthly bonus.(NOT CONFIRMED)
So what type of pvc credit is attained for checking account, savings, credit card etc.? What gets me the most bread?
 5 years ago '04        #12
jsmooth-117 12 heat pts12
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 GBREEZE said:
So what type of pvc credit is attained for checking account, savings, credit card etc.? What gets me the most bread?
Underwritten products such as credit cards loans and mortgages
 5 years ago '04        #13
egotistical 1 heat pts
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 GBREEZE said:
Have you worked there?
My girl worked for Chase. Everybody basically summed everything up. It is all about sales, if your good you can make a good bonus. Also, location is key like I said before, if you get stuck with a sucky a.ss location. It can hurt you.
 5 years ago '10        #14
1188 
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Mortgage Banker > Personal Banker at Chase if there is a center in your area imo. Just something to think about.
 5 years ago '06        #15
LYTE 125 heat pts125
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 egotistical said:
My girl worked for Chase. Everybody basically summed everything up. It is all about sales, if your good you can make a good bonus. Also, location is key like I said before, if you get stuck with a sucky a.ss location. It can hurt you.
Yup. I got switched from a prime location to another one then a 3rd. The 3rd location(current)is horrible. I'm at an appt for Citibank right now as I type this
 5 years ago '10        #16
GBREEZE 260 heat pts260 OP
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 1188 said:
Mortgage Banker > Personal Banker at Chase if there is a center in your area imo. Just something to think about.
Ok are they located in the branches as well? And what kind of paper are we talking with that?
 5 years ago '06        #17
LYTE 125 heat pts125
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 GBREEZE said:
Ok are they located in the branches as well? And what kind of paper are we talking with that?
some branches have a LO(loan officer)
paper I dont know what theyre starting with.
my boy is doing something with loans(not approving nor underwriting)but makes about 50k
 5 years ago '10        #18
1188 
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 GBREEZE said:
Ok are they located in the branches as well? And what kind of paper are we talking with that?
Loan officers are located in branches and from the few that I know they are starting to make good money again if you are good at prospecting and closing the deal. The amount of money you make is going to really vary on where you live and how good you are at building a pipeline. I believe the starting salary is low (26k - 32k) but the potential for commission or incentive is very high. The few that i know are in the 65k - 80k range..

As far as Mortgage Bankers they are located in a call center setting in my area and the MB's that I know are all working on a refinance project, so the leads are generated for them through inbound calls as well as some outgoing calls to customers who are already pre-approved. Once again the starting salary in my area is low (24k with full benefits) however when you start in that department you are given the average commission of the department for the first three months while you build your pipeline, after that there is currently no cap on the commission that you can make. There is generally a set schedule but overtime is "highly suggested." The top agents are making a legit six figures in some cases, but most that I know are on pace for the 70k - 85k range as they just had a hiring blitz back in May - July.
 5 years ago '04        #19
egotistical 1 heat pts
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 1188 said:
Loan officers are located in branches and from the few that I know they are starting to make good money again if you are good at prospecting and closing the deal. The amount of money you make is going to really vary on where you live and how good you are at building a pipeline. I believe the starting salary is low (26k - 32k) but the potential for commission or incentive is very high. The few that i know are in the 65k - 80k range..

As far as Mortgage Bankers they are located in a call center setting in my area and the MB's that I know are all working on a refinance project, so the leads are generated for them through inbound calls as well as some outgoing calls to customers who are already pre-approved. Once again the starting salary in my area is low (24k with full benefits) however when you start in that department you are given the average commission of the department for the first three months while you build your pipeline, after that there is currently no cap on the commission that you can make. There is generally a set schedule but overtime is "highly suggested." The top agents are making a legit six figures in some cases, but most that I know are on pace for the 70k - 85k range as they just had a hiring blitz back in May - July.
Yea we actually have a call center down here. My girlfriend was going to actually do the Loan Officer thing and Mortgage Banker. Both positions are pretty hard to get external (unless already directly qualified). Also, generally position never open up probably like a few every 5-7 months. If your really good at sales get into medical equipment. My girlfriend is on the way to a 115k year, which is like only decent/good. Her managers and others are making a fu*king k!lling. In the medical field a lot of time you average around 75-220k, but it is so much easier, because of the need for medical equipment. Lastly, baby boomers are about to die out. So money in the medical field is where it is at, if you really want the real money. She really only works 9 or 10 till like 4.
 5 years ago '06        #20
LYTE 125 heat pts125
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 egotistical said:
. If your really good at sales get into medical equipment.
when you say that, do you mean wholesaling medical equipment to medical facilities or general public?
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