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Banking Average Salaries in Pennsylvania 2024

How much money does a person working in Banking make in Pennsylvania?


Average Yearly Salary
112,000 USD
( 9,350 USD monthly)

LOW
35,100
USD
AVERAGE
112,000
USD
HIGH
229,000
USD
All salary figures displayed here are per year except when noted otherwise.
All salary and compensation figures displayed here are gross salary figures, that is the salary before tax deductions. Because taxes may differ across sectors and locations, it is difficult to accurately calculate the net salary after tax for every career.

A person working in Banking in Pennsylvania typically earns around 112,000 USD. Salaries range from 35,100 USD (lowest average) to 229,000 USD (highest average, actual maximum salary is higher).


Salary Variance

The provided figure represents the median compensation that encompasses housing, transportation, and other perks. The salaries within the Banking domain in Pennsylvania exhibit significant discrepancies across various professions. In case you seek information about the remuneration of a specific position, please refer to the salaries listed below for respective job titles.

Salaries for specific jobs

Job TitleAverage Salary
Banking
AML Analyst165,000 USD
Assistant Bank Branch Manager146,000 USD
Assistant Bank Manager187,000 USD
ATM Manager159,000 USD
ATM Service Technician44,000 USD
Bank Accounts Analyst61,700 USD
Bank Accounts Collector37,400 USD
Bank Accounts Controller79,500 USD
Bank Accounts Executive119,000 USD
Bank Accounts Manager138,000 USD
Bank Auditing Manager143,000 USD
Bank Branch Manager199,000 USD
Bank Branch Operations Coordinator84,700 USD
Bank Clerk35,700 USD
Bank Client Service Associate54,300 USD
Bank Collector38,900 USD
Bank Compliance Specialist98,200 USD
Bank Manager223,000 USD
Bank Operational Risk Manager212,000 USD
Bank Operations Head225,000 USD
Bank Operations Officer93,100 USD
Bank Operations Specialist140,000 USD
Bank Process Manager129,000 USD
Bank Product Manager 144,000 USD
Bank Programme Manager160,000 USD
Bank Project Manager176,000 USD
Bank Propositions Manager168,000 USD
Bank Quantitative Analyst118,000 USD
Bank Regional Manager226,000 USD
Bank Regional Risk Officer116,000 USD
Bank Relationship Manager167,000 USD
Bank Relationship Officer79,400 USD
Bank Sustainability Analyst135,000 USD
Bank Teller38,400 USD
Banker77,900 USD
Banking Business Analyst119,000 USD
Banking Business Development Officer70,200 USD
Banking Business Planning Executive168,000 USD
Banking Data Analyst139,000 USD
Banking Product Manager139,000 USD
Banking Reference Data Manager130,000 USD
Banking Regulatory Compliance Officer143,000 USD
Banking Risk Analyst120,000 USD
Banking Technical Analyst59,800 USD
Bankruptcy Coordinator83,500 USD
Bill and Account Collector41,600 USD
Blockchain Analyst102,000 USD
Blockchain Architect119,000 USD
Blockchain Auditor106,000 USD
Blockchain Compliance Analyst110,000 USD
Blockchain Consultant115,000 USD
Blockchain Trade Facilitator92,800 USD
Budget Analyst121,000 USD
Capital Risk Manager217,000 USD
Cards Marketing Manager146,000 USD
Cash Management Manager197,000 USD
Check Processing Manager147,000 USD
Chief Blockchain Officer135,000 USD
Commercial Vault Associate109,000 USD
Corporate Banker81,300 USD
Corporate Dealer123,000 USD
Credit Analyst89,300 USD
Credit and Collections Manager156,000 USD
Credit Card Fraud Investigator120,000 USD
Credit Portfolio Manager212,000 USD
Credit Risk Analyst130,000 USD
Credit Risk Associate129,000 USD
Cryptocurrency Accountant74,500 USD
Cryptocurrency Adviser145,000 USD
Cryptocurrency Analyst109,000 USD
Cryptocurrency Compliance Manager137,000 USD
Cryptocurrency Trader123,000 USD
Digital Banking Manager160,000 USD
Digital Currency Analyst120,000 USD
Direct Bank Sales Representative82,700 USD
Exchange Control Consultant119,000 USD
Executive Account Analyst117,000 USD
Financial Bank Planning Consultant147,000 USD
Financial Banking Analysis Manager173,000 USD
Financial Banking Assistant56,500 USD
Financial Banking Systems Manager162,000 USD
Foreign Exchange Manager174,000 USD
Fraud Analyst122,000 USD
Fraud Detection Associate86,800 USD
Fraud Detection Manager184,000 USD
Fraud Detection Supervisor105,000 USD
Internal Bank Audit Manager222,000 USD
Internal Bank Auditor119,000 USD
Internal Private Banker87,700 USD
International Banking Manager228,000 USD
Investment Banking Analyst169,000 USD
Loan Analyst121,000 USD
Loan Area Manager147,000 USD
Loan Audit Team Leader138,000 USD
Loan Branch Manager137,000 USD
Loan Business Development Officer74,300 USD
Loan Clerk39,500 USD
Loan Collection and Recovery Manager135,000 USD
Loan Collection Manager134,000 USD
Loan Collector37,000 USD
Loan Examiner49,600 USD
Loan Officer43,000 USD
Loan Processing Manager123,000 USD
Loan Processor51,700 USD
Loan Quality Assurance Auditor117,000 USD
Loan Quality Assurance Manager131,000 USD
Loan Quality Assurance Representative87,500 USD
Loan Review Manager133,000 USD
Loan Team Leader119,000 USD
Loans Manager155,000 USD
Mortgage Advisor82,300 USD
Mortgage Collection Manager140,000 USD
Mortgage Collector39,100 USD
Mortgage Credit Analyst63,900 USD
Mortgage Credit Manager135,000 USD
Mortgage Development Manager156,000 USD
Mortgage Document Reviewer53,200 USD
Mortgage Funding Manager159,000 USD
Mortgage Operations Manager197,000 USD
Mortgage Payment Processing Clerk43,600 USD
Mortgage Processing Manager128,000 USD
Mortgage Processor50,400 USD
Mortgage Quality Assurance Auditor114,000 USD
Mortgage Quality Assurance Manager131,000 USD
Mortgage Servicing Clerk39,100 USD
Mortgage Servicing Manager125,000 USD
Mortgage Underwriter49,100 USD
Online Banking Manager195,000 USD
Open Banking Strategist126,000 USD
Payment Processing Clerk39,900 USD
Personal Banker85,600 USD
Personal Banking Advisor 85,900 USD
Phone Banker58,500 USD
Private Banker81,800 USD
Reconciliation and Investigation Specialist94,900 USD
Tax Officer69,600 USD
Teller39,200 USD
Trade Officer46,800 USD
Trade Product Manager135,000 USD
Trader56,700 USD
Treasury Operations Officer99,200 USD
Wealth Management Advisor174,000 USD


Banking Jobs Pay Scale and Salaries in Pennsylvania

Median and salary distribution Pennsylvania Banking yearly
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Salary Structure and Pay Scale Comparison

5% of people earn
114,000 USD or more
10% of people earn
94,200 to 114,000 USD
20% of people earn
51,100 USD or less
65% of people earn
51,100 to 94,200 USD
Minimum Salary
35,100 USD
Median
102,000 USD
Maximum
229,000 USD




Median Salary, maximum and minimum salary, minimum wage, starting salary, and the salary range

All salary figures displayed here are per year except when noted otherwise.
  • Salary Range, Minimum Wage, and Starting Salary

    Salaries in Banking in Pennsylvania range from 35,100 USD (starting average salary) to 229,000 USD (maximum average salary, actual maximum is higher). To clarify, the number presented is not the legally mandated minimum wage. Rather, it represents the lowest figure reported in a salary survey that involved thousands of participants and professionals from across the entire country.

  • Median Salary

    The median income in the field of Banking is 102,000 USD, implying that half of the workforce in Pennsylvania earns less than this figure, and the other half earns more. It represents the central value of salaries. As a rule of thumb, you would prefer to be part of the group earning above the median wage, situated on the right-hand side of the salary distribution chart.

  • Percentiles and Salary Scale

    Two values that are highly correlated with the median are the 25th and 75th percentiles. By examining the salary distribution diagram, it is possible to determine that 25% of individuals employed in Banking in Pennsylvania earn less than 76,000 USD, while 75% of them earn more. Additionally, the diagram reveals that 75% of individuals earn less than 125,000 USD, while 25% earn more than that.

  • Pay Scale Structure

    Data was regrouped into brackets to provide a better understanding of what salaries can be expected. This approach was deemed more accurate than relying solely on the average salary, as it offers greater insights into the distribution of salaries in the field of Banking in Pennsylvania. The analysis revealed that roughly 65% of all reported salaries fell within the range of 51,100 USD to 94,200 USD. Approximately 20% of salaries were below the 51,100 USD mark, while 10% ranged from 94,200 USD to 114,000 USD. Only 5% of individuals earned a gross salary of 114,000 USD or higher.

Salary Comparison by Years of Experience

How does a person's salary progress over time?

Salary Comparison By Experience Level
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The experience level is the most important factor in determining the salary. Naturally, the more years of experience the higher the wage.

Generally speaking, employees in Banking in Pennsylvania having experience from two to five years earn on average 32% more than freshers and juniors across all industries and disciplines.

Professionals with experience of more than five years tend to earn on average 36% more than those with five years or less of work experience.

As you hit the ten years mark, the salary increases by 21% and an additional 14% for those who have crossed the 15 years mark.

Those figures are presented as guidelines only. The numbers become more significant if you consider one job title at a time.


Change in salary based on experience varies drastically from one location to another and depends hugely on the career field as well. The data displayed here is the combined average of many different jobs. To view accurate figures, choose a specific job title.
On average, a person's salary doubles their starting salary by the time they cross the 10 years* experience mark.
* Based on the average change in salary over time. Salary variations differ from person to person.


Salary Comparison By Education

How does the education level affect your salary?

Salary Comparison By Education
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Change in salary based on education varies drastically from one location to another and depends hugely on the career field as well. The data displayed here is the combined average of multiple jobs. To view accurate figures, choose a specific job title.

It is well known that higher education equals a bigger salary, but how much more money can a degree add to your income?

We compared the salaries of professionals at the same level but with different college degree levels across many jobs in Banking in Pennsylvania, below are our findings.

Workers with a certificate or diploma earn on average 17% more than their peers who only reached the high school level.

Employees who earned a Bachelor's Degree earn 24% more than those who only managed to attain a certificate or diploma.

Professionals who attained a Master's Degree are awarded salaries that are 29% more than those with a Bachelor's Degree.

Finally, PhD holders earn 23% more than Master's Degree holders on average while doing the same job.


Is a Master's degree or an MBA worth it? Should you pursue higher education?

A Master's degree program or any post-graduate program in United States costs anywhere from 39,600 USD to 119,000 USD and lasts approximately two years. That is quite an investment.

Employees can't expect any salary increases during the study period, assuming they already have a job. In most cases, a salary review is conducted once education is completed and the degree has been attained.

Many people pursue higher education as a tactic to switch to a higher-paying job. The numbers seem to support this tactic. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.

The decision really depends on the situation and experience among many other factors. Putting all variables aside, if a person can afford the costs of higher education then the return on investment is definitely worth it. Degree costs can be recovered roughly in a year or so.



Salary and Compensation Comparison By Gender / Banking / Pennsylvania

Salary comparison by gender United States Banking yearly
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Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? In the field of Banking in United States, the average difference between the salary of male and female employees is 5%.

Male
106,000 USD
Female-5%
101,000 USD
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in United States for all Careers

Salary comparison by gender yearly United States
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Average Annual Salary Increment Percentage / Banking / Pennsylvania

How much are annual salary increments in Pennsylvania for individuals working in Banking? How often do employees get salary raises?

Professionals working in Banking in United States are likely to observe a salary increase of approximately % every months. The national average annual increment for all professions combined is 8% granted to employees every 16 months.

Annual Salary Increment Rate United States Banking
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The figures provided here are averages of numbers. Those figures should be taken as general guidelines. Salary increments will vary from person to person and depend on many factors, but your performance and contribution to the success of the organization remain the most important factors in determining how much and how often you will be granted a raise.

United States / All Professions

Annual Salary Increment Rate United States
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The term Annual Salary Increase usually refers to the increase in 12 calendar month period, but because it is rare that people get their salaries reviewed exactly on the one-year mark, it is more meaningful to know the frequency and the rate at the time of the increase.

How to calculate the salary increment percentage?

The annual salary Increase in a calendar year (12 months) can be easily calculated as follows: Annual Salary Increase = Increase Rate x 12 / Increase Frequency

The average salary increase in one year (12 months) in United States is 6%.

Worldwide Salary Raises: All Countries and All Jobs

World Average Annual Salary Increment
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Salary Packages and Schemes

Not all compensation increases are reflected directly in the salary. Some companies offer upgraded packages to their staff instead of cash money. The figures displayed here account only for direct increments to the base salary.

Bonus and Incentive Rates / Banking / United States

How much and how often are bonuses being awarded?Annual Salary Bonus Rate United States Banking
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100% of surveyed staff in Banking reported that they haven't received any bonuses or incentives in the previous year while % said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from % to % of their annual salary.

Received Bonus
%
No Bonus
100%

Types of Bonuses Considered

Individual Performance-Based Bonuses

The most standard form of bonus, where the employee is awarded based on their exceptional performance.

Company Performance Bonuses

Occasionally, some companies like to celebrate excess earnings and profits with their staff collectively in the form of bonuses that are granted to everyone. The amount of the bonus will probably be different from person to person depending on their role within the organization.

Goal-Based Bonuses

Granted upon achieving an important goal or milestone.

Holiday / End of Year Bonuses

These types of bonuses are given without a reason and usually resemble an appreciation token.

Bonuses Are Not Commissions!

People tend to confuse bonuses with commissions. A commission is a prefixed rate at which someone gets paid for items sold or deals completed while a bonus is in most cases arbitrary and unplanned.


What makes a position worthy of good bonuses and a high salary?

The main two types of jobs

Revenue GeneratorsSupporting Cast

Employees that are directly involved in generating revenue or profit for the organization. Their field of expertise usually matches the type of business.

Employees that support and facilitate the work of revenue generators. Their expertise is usually different from that of the core business operations.

Example:
A graphics designer working for a graphics designing company.

Example:
A graphic designer in the marketing department of a hospital.


Revenue generators usually get more and higher bonuses, higher salaries, and more frequent salary increments. The reason is quite simple: it is easier to quantify your value to the company in monetary terms when you participate in revenue generation.

Try to work for companies where your skills can generate revenue. We can't all generate revenue and that's perfectly fine.

Bonus Comparison by Seniority Level

Top management personnel and senior employees naturally exhibit higher bonus rates and frequencies than juniors. This is very predictable due to the inherent responsibilities of being higher in the hierarchy. People in top positions can easily get double or triple bonus rates than employees down the pyramid.

Hourly Average Wage / Banking / Pennsylvania


54 USD per hour

The average hourly wage (pay per hour) in Banking in Pennsylvania is 54 USD.This is the rate they get paid for every worked hour.


Hourly Wage = Annual Salary / ( 52 x 5 x 8 )

About The Hourly Pay Rate

The hourly wage is the salary paid in one worked hour. Usually, jobs are classified into two categories: salaried jobs and hourly jobs. Salaried jobs pay a fixed amount regardless of the hours worked. Hourly jobs pay per worked hour. To convert salary into hourly wage the above formula is used (assuming 5 working days in a week and 8 working hours per day which is the standard for most jobs). The hourly wage calculation may differ slightly depending on the worked hours per week and the annual vacation allowance. The figures mentioned above are good approximations and are considered to be the standard. One major difference between salaried employees and hourly paid employees is overtime eligibility. Salaried employees are usually exempt from overtime as opposed to hourly paid staff.

What is the minimum hourly rate of pay?

The minimum pay rate per hour for people working in Banking in Pennsylvania is 17 USD. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.

Salary Comparison By City

CityAverage Salary
Philadelphia122,000 USD

Government vs Private Sector Salary Comparison

Where can you get paid more, working in a private company or the government? The difference between the public or government sector salaries and the private sector salaries in United States is 5% on average across all career fields.

Private Sector
92,800 USD
Public Sector+5%
97,500 USD
Percentage increase and decrease are relative to the previous value

Salary Statistics and Calculation Guide

What is considered to be a good and competitive salary in Banking in Pennsylvania?

A good and competitive compensation would range anywhere between 102,000 USD and 125,000 USD. This is a very rough estimate. Experience and education play a very huge part in the final earnings.

Gross Salary (before tax) and Net Salary (after tax)

All salary and compensation figures displayed here are gross salary figures, that is the salary before tax deductions. Because taxes may differ across sectors and locations, it is difficult to accurately calculate the net salary after tax for every career.

Base / Basic Salary

The base salary for jobs in Banking in Pennsylvania ranges from 35,100 USD to 76,000 USD. The base salary depends on many factors including experience and education. It is not easy to provide a figure with very little information, so take this range with a grain of salt.


What is the difference between the median and the average salary?

Both are indicators. If your salary is higher than both the average and the median then you are doing very well. If your salary is lower than both, then many people earn more than you and there is plenty of room for improvement. If your wage is between the average and the median, then things can be a bit complicated. We wrote a guide to explain all about the different scenarios. How to compare your salary


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