Bank of america relationship manager salary: Bank of America Relationship Manager Annual Salaries

Опубликовано: March 7, 2023 в 11:17 pm

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Категории: Miscellaneous

Bank of America Relationship Manager Annual Salaries

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  • Relationship Manager

$46K
Dallas, TX
Relationship Manager Average Salary at Bank of America
·

-$15K (28%) less than national average Relationship Manager salary ($61K)

+$1K (2%) more than average Bank of America salary ($45K)

“N/A”

$57K
Chapel Hill, NC
Relationship Manager Average Salary at Bank of America
·

-$4K (6%) less than national average Relationship Manager salary ($61K)

+$12K (23%) more than average Bank of America salary ($45K)

“I think when you growth within the company the salary is not fair compare to people who will join the company at that position. “

$65K
Pasadena, CA
Relationship Manager Average Salary at Bank of America
·

+$4K (6%) more than national average Relationship Manager salary ($61K)

+$20K (36%) more than average Bank of America salary ($45K)

“A good portion of my salary comes from commission, which with Bank of America is based off a quarterly cycle. I do believe it needs to be restructured to become both more competitive and rewarding for employees.”

$65K
Chino Hills, CA
Relationship Manager Average Salary at Bank of America
·

+$4K (6%) more than national average Relationship Manager salary ($61K)

+$20K (36%) more than average Bank of America salary ($45K)

“It is great salary however in order to move to assistant manager k would be kept same base pay with a cut in commission”

$75K
Pleasant Hill, CA
Relationship Manager Average Salary at Bank of America
·

+$14K (20%) more than national average Relationship Manager salary ($61K)

+$30K (50%) more than average Bank of America salary ($45K)

“The incentive part of the salary always gets missed under some pretext or another. “

$85K
Homestead, FL
Relationship Manager Average Salary at Bank of America
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+$24K (32%) more than national average Relationship Manager salary ($61K)

+$40K (61%) more than average Bank of America salary ($45K)

“Your performance dictates your salary”

$60K

Bank of America Relationship Manager without location (29 salaries)

-$1K (1%) less than national average Relationship Manager salary ($61K)

+$15K (28%) more than average Bank of America salary ($45K)

The salary for Relationship Manager at Bank of America is $67,000 annually.

Wellington Management pays the highest salary for the Relationship Manager position at $175,000 annually.

Barclays pays the lowest salary for the Relationship Manager position at $25,000 annually.

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Bank of America: Relationship Manager – Financial Center Sales

Sorry, this listing is no longer accepting applications. Don’t worry, we have more awesome opportunities and internships for you.

  • Responsibilities

    Relationship managers are the face of Bank of America in our financial centers, bringing our products and services to life for our clients.

    You will focus the majority of your time deepening customer relationships by referring customers to sales specialists and offering appropriate financial solutions and services to both individual and small business customers.

    You engage in daily outbound calling to Bank of America customers, inviting them into the financial center for an appointment, and also assist in servicing customer needs where applicable.

    You will report to a local market sales manager, and partner closely with financial center managers and market sales managers to ensure adherence to operational and regulatory policies and procedures.

    As a Relationship Manager you will:

    • Build strong relationships with your teammates, business partners and specialists by fostering teamwork, partnership and collaboration

    • Meet customer needs by partnering with specialists and business associates to understand what they offer to customers and the most effective way to generate business referrals (for example, customer’s banking, small business, mortgage and investment needs) in adherence with policies and procedures

    • You will conduct outbound and inbound client engagement activities, adhering to call monitoring policies

    • You will be participating in weekly proactive planning sessions for client engagement activities and drive sales-related topics

    • Sell financial products (for example, credit cards, CDs, IRAs, small business loans) and open deposit accounts

    • Quote rates, terms and programs for loan customers

    -Respond to customer inquiries and concerns and create customized solutions

    • Monitor and track daily/weekly sales activities

    • Execute sales and service tactics, activities and processes, as defined by company policies and procedures

    • Proactively manage risk in every business, product and service transaction leveraging available tools

    • Comply with all applicable banking and investment laws, regulations, company policies and procedures to serve the client’s best interest and enhance client satisfaction

    • Assist, educate and train customers on how to use self-service technologies such as ATMs, online banking or mobile banking

    • Leverage available resources and technologies to optimize the customer experience and serve our customers with operational excellence and accuracy

  • Qualifications

    You posses the following:

    • The ability to learn and understand technology to assist customers with self-service needs

    • Strong interpersonal skills, including the ability to easily engage others in dialogue, convey sincere interest in building/deepening relationships and demonstrate a commitment to providing personalized service

    • You can confidently influence and collaborate with others outside of reporting authority to achieve shared goals

    • You are a problem solver with strong customer service skills.

    • You build solid relationships with teammates, business partners and specialists by fostering teamwork, partnership and collaboration

    • Passion, commitment and drive are 3 attributes that you deliver to improve our customers’ financial lives

    • Demonstrates initiative, a commitment to continuous learning, and the ability to adapt to changing demands and requirements

    • Strong organizational skills including the ability to manage multiple responsibilities, prioritize and delegate while delivering results

    • Strong communication skills (including verbal, non-verbal, written and presentation) and active listening skills

    • Availability to work weekends and/or extended hours as required to operate the business

    • Must graduate from undergraduate between Dec 2015-July 2016

    You will be highly considered if you have:

    • Experience in financial services and prior knowledge of financial services industry, products and solutions

    • Knowledge of banking (credit and deposit) products and services

    • Prior sales experience in a salary plus incentive environment with individual sales goals where goals were met or exceeded routinely

    • Prior experience servicing and delighting customers

  • Compensation

    Competitive Salary

  • Industry

    Banking

  • About Us

    Bank of America is one of the world’s largest financial institutions, serving individuals, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company serves approximately 56 million U.S. consumer and small business relationships. It is among the world’s leading wealth management companies and is a global leader in corporate and investment banking and trading.

Highest-paid US CEOs 2020: First time a woman tops the list

  • Business

For the first time, a woman became the highest paid CEO in US public companies in 2019. Lisa Su, who heads the processor company AMD, earned $58. 5 million.

The Associated Press and company management software provider Equilar have unveiled their annual S&P 500 list of the highest paid CEOs of US public companies. This year, for the first time since the ranking was published in 2011, a female CEO of Advanced Micro processor and graphics card manufacturer Devices (AMD, Intel’s main competitor) Lisa Su. She earned $58.5 million compared to $13.4 million a year earlier, most of the compensation package is a one-time bonus in shares.

In total, there are 20 women in the list of 329 top managers (there were 19 a year earlier), but, apart from Su, none made it to the top ten. Among other female directors in the ranking are the heads of Lockheed Martin, General Motors Company and Nasdaq.

The median compensation amount on the list was $12. 3 million, up 4.1% from a year earlier. In previous years, the increase was more significant: 7.2% (in 2019) and 8.5% (in 2018). Moreover, the median salary for women was higher than for men: $13.9mln vs. $12.3 mln.

If we compare different industries, the highest median income at the end of the year was in the field of communication services: $27.8 mln. In the previous two years, the healthcare sector was the leader. Top executives from New York had the highest median payouts, while California was the leader in the number of company executives represented (39). From New York – 32 top managers.

Managers must have held senior positions in their companies for at least two years by the end of 2019 to be included in the listfinancial year, and their companies were required to report to investors between January 1 and April 30.

Photo AMD

1.

Lisa Su

Company: Advanced Micro Devices (processor manufacturer)

Reward: $58.5 million

Photo by Fred Prouser Reuters

2. David Zaslav

Company: Discovery (television network)

Reward: $45.8 million

Photo by Zuma\TASS

3. Bob Iger

Company: Disney (entertainment)

Reward: $45.6 million

Photo by Jeff Bottari AP/TASS

4. Shantanu Narayen

Company: Adobe (software)

Reward: $39. 1 million

Photo YONHAP EPA

5. Reed Hastings

Company: Netflix (film, series and documentaries)

Reward: $38.6 million

Photo by Alexander Drago Reuters

6. Larry Merlo

Company: CVS Health (pharmacy chain)

Remuneration: $36.5 million

Comcast photo

7. Brian Roberts

Company: Comcast (telecom, owns CNBC)

Reward: $36.4 million

Photo Morgan Stanley

8.

James Gorman

Company: Morgan Stanley (bank)

Reward: $31.6 million

Photo by JPMorgan Chase & Co.

9. James Dimon

Company: JPMorgan Chase (bank)

Compensation: $31.6 million

Prologis photo

10. Hamid Moghadam

Company: Prologis (real estate)

Remuneration: $30.4 million

  • Rinat Tairov

    Editorial Forbes

#salaries of top managers

Forbes Newsletter

The most important thing about finance, investment, business and technology

The largest US companies revealed salary gaps

Varvara Grankova

Large US public companies this year for the first time begin to publish data on the median salary of employees and the ratio of it and remuneration of the company’s CEO for the same period. This requirement is contained in the Dodd-Frank Act, passed in 2010 after the financial crisis to reduce risks in the US financial industry. It is assumed that information about the ratio of salaries of the CEO and ordinary employees will help investors better understand the rules for remuneration of the leaders of the largest companies and influence them.

Some investors and experts see the new disclosure requirements as timely. Investors shouldn’t be left in the dark about how much a company is paying its employees, said Brandon Rees, deputy director of AFL-CIO’s investment arm. Critics, in turn, consider the new ratio (the ratio of CEO remuneration to the median salary of employees) to be uninformative and point out that it is seriously affected by practices such as outsourcing low-paid functions or hiring low-skilled employees in countries with cheap labor. In addition, laws leave companies room to maneuver in determining the median salary of employees, which also makes it difficult to compare employers on these indicators.

Reporting Surprises

Some pay experts believe that the figures already released by individual companies do not prove that CEOs are being paid too much and line workers too little, but simply reflect the high level of competition among employers in the labor market. The first published data contain a number of surprises. So, it turned out that several small banks pay their employees more than their large competitors. Two smaller banks, Cincinnati Financial and BB&T, outperformed their big competitor, U.S. Bancorp: $91,647, $84,550 and $58,269 respectively. And the ratio of salaries of general directors and ordinary employees of some firms with different business models and staff structure turned out to be almost identical.

Not only investors, but also employees can take advantage of the new data that companies will now publish, who will have the opportunity to compare their own salary with the rewards of colleagues from other companies in the industry. Employees at some firms are on the familiar three-stage journey of “shock-anger-acceptance,” said Steven Seelig, a senior advisor at Willis Towers Watson who has advised several companies on the new financials.

Humana’s median employee earns $57,385 a year, while its CEO earns 344 times more, or $19.8 million. earning $19,906 a year. The CEO receives 356 times more – $ 7.08 million a year. The median employee of medical device manufacturer Intuitive Surgical earns more than $157,000 a year, while the CEO only earns 32 times more, or $5.1 million.

Food giant Kraft Heinz paid the CEO $4.2 million last year, but the median employee paid 91 times less, $46,000. The pay gap at Kellogg, a smaller competitor, is much larger: the CEO earned $7.3 last year million, the median employee is about $40,000, i.e. 183 times less.

Spoiling the picture

Industrial conglomerate Honeywell International took advantage of the allowed flexibility in its approach to determining median wages and excluded 7,000 foreign workers from the calculation. As a result, the median salary at the company was about $50,000 per year, and CEO Marius Adamczyk’s compensation was 333 times higher, $16.75 million.

One of the biggest pay gaps between CEO and median employee so far has been at Marathon Petroleum. The median salary last year here was $21,034, and CEO Gary Heminger earned 935 times more – $19.7 million. The company’s financials state that 32,000 of its 44,000 employees work at gas stations and in stores attached to them, many – incomplete day. If these employees were removed from the median salary calculation, the company’s pay would be close to $126,000, and the gap with the CEO’s salary would narrow to 156.

What is included

Companies may or may not include additional and incentive payments in median salary calculations. And the practice of calculating remuneration in different companies varies significantly.

Thus, according to the reports, the gaps turned out to be almost the same for the investment company KKR and the manufacturer of steam boilers A.