JPMorgan Chase Personal Banker Compensation

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CTMATT in New Canaan, Connecticut

78 months ago

Hey everyone, I’m considering applying for a Personal Banker position at JPMC. I’m curious to know, before I apply, how the compensation works…I’m assuming there is some sort of base rate, along with bonus for selling products? Can anyone throw in some ballpark figures of what to expect at a branch in southern CT? Thanks!

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Adam Howard in Reynoldsburg, Ohio

78 months ago

base salary of $28-32K w/ the typical monthly commission (called PVC'S) target somewhere between $1000-$1300. If you are not in an absolutely ideal location, there will be atleast several (if not more) months where you won't quite hit that quota, so the average ballpark annual income with this job is around $36K.

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dougwilson420 in Palatine, Illinois

78 months ago

Adam Howard in Reynoldsburg, Ohio said: base salary of $28-32K w/ the typical monthly commission (called PVC'S) target somewhere between $1000-$1300. If you are not in an absolutely ideal location, there will be atleast several (if not more) months where you won't quite hit that quota, so the average ballpark annual income with this job is around $36K.

of course you didnt make an money your in Reynoldsburg Ohio. what do you expect?

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Adam Howard in Reynoldsburg, Ohio

78 months ago

dougwilson420 in Palatine, Illinois said: of course you didnt make an money your in Reynoldsburg Ohio. what do you expect?

Ok doug wilson, you're in palatine, illinois apparently....(and you are a typical genius who uses "your" in place of "you're").....what the hell would you know about reynoldsburg ohio...obviously nothing- its in columbus area- if you knew anything you'd know that it is a major 'hub' of chase. maybe research a little bit before you make comments that reveal how stupid you are....

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dougwilson420 in Palatine, Illinois

78 months ago

Adam Howard in Reynoldsburg, Ohio said: Ok doug wilson, you're in palatine, illinois apparently....(and you are a typical genius who uses "your" in place of "you're").....what the hell would you know about reynoldsburg ohio...obviously nothing- its in columbus area- if you knew anything you'd know that it is a major 'hub' of chase. maybe research a little bit before you make comments that reveal how stupid you are....

I lived in Dublin for 10 years bud. The only thing reynoldsburg had is bow wow. reynoldsburg is the "other side of tracks" of pickerington. have fun trying to make money. just because its a major hub doesnt mean a thing. people dont make any money there, it doesnt matter if theres a giant HR building at polaris. Palatine is 30 mins from CHICAGO you are 20 mins from COLUMBUS. dont make me laugh by telling me theres the same amount of money there. dont get mad at me because your Columbus State Community College is getting you where you thought ud be.

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dougwilson420 in Palatine, Illinois

78 months ago

btw i work in naperville

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nicco in Phoenix, Arizona

78 months ago

from my research, the pay ranges from 28k - 36k (depending somewhat on location) & you should be able to bonus an average $1000 a month easily (once you get going). However, I do not know this for certain & only think this is an estimated ball park... I'll find out soon (finger's crossed) :)

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Adam Howard in Reynoldsburg, Ohio

78 months ago

doug, yet again you build to your case of being a moron- just b/c reynoldsburg is where it says i currently am does not mean that is where i worked out of- i actually worked out of downtown columbus. and when did i ever compare columbus to chicago, moron? of course there is much more money to be made in chicago....but typically the bankers struggle to make their quota if they are not in the high traffic areas. but lucky for you the PB job doesn't require a college degree, so have fun making your $40-ish K a year thinking you hit the jackpot. shouldn't you be hitting the up the lobby or dialing for dollars?

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Patrick Wynne in Dallas, Texas

78 months ago

32K is the current salary for Dallas. You should make at minimum 1150 in commission a month, 800 to pay for yourself and carry your own weight with Chase. If you try you will make this, if you try hard you'll make much much more.

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Chase Banker in New Orleans, Louisiana

78 months ago

P.S. If you are not making at least the minimum 1150 PVCs (that pays out 100%, so $1150 in commission), you should look for another job. You FALL into 1150 PVCs just but servicing people who walk in the door asking for new accounts, CDs, investments, and loans. If you do a little bit more, working the lobby to discover more customers, doing place-of-business sales calls to generate Chase At Work companies who will send their employees to you for direct deposit accounts, etc. you will do even better.

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Chase Banker in New Orleans, Louisiana

78 months ago

Well, well, Adam, I could say the same for you. Here you are, trying to bring down Chase at every possible turn. Who's motive is worse? A personal banker who is a happy employee of a bank and if trying to encourage others, or someone who has had a bad experience and is trying to badmouth a whole organization?

Also, I know that location plays a part in success, just like any other job. However, something that you may find interesting is that I am one of four PB's in my branch, and I am the only one who is a National Sales Achiever. One of the other PB's is CONSTANTLY complaining that our location is horrible, and that if she was moved to a certain other branch, she'd do better. Much of it is attitude and sales prowess as well.

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Chase Banker in New Orleans, Louisiana

78 months ago

Adam Howard in Reynoldsburg, Ohio said: Im not trying to bring them down nearly as much as you're trying to sell them as the best thing since sliced bread. you have got to be kidding me with this garbage, chase banker. you are a little too "rah-rah" to be believable. who is putting you up to this?

I'm tiring of this conversation. Have a great life.

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Adam Howard in Reynoldsburg, Ohio

78 months ago

Chase Banker in New Orleans, Louisiana said: I'm tiring of this conversation. Have a great life.

you too. but apparently you don't need me to tell you that.... does chase provide pom-poms for you too?

"gimme a C! gimme an H! gimme an A!........"

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defranco50 in Pittsburgh, Pennsylvania

76 months ago

I am considering going for a PB position with Chase in my hometown. I have my 7, 6, and Ins Licenses. I used to work for chase as a teller in college. Can anyone give me an update on the commission structure. I know how it works I just want to know how many PVC's different items are worth. Also, how much of the position is investment sales (annuities fixed and variable, mutual funds, insurance etc...) I got licensed with Edward Jones and I currently am working for National City and I'm not happy with their incentive structure whatsoever.

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FightBack in I am the real FightBack, New York

76 months ago

defranco50 in Pittsburgh, Pennsylvania said: I am considering going for a PB position with Chase in my hometown. I have my 7, 6, and Ins Licenses. I used to work for chase as a teller in college. Can anyone give me an update on the commission structure. I know how it works I just want to know how many PVC's different items are worth. Also, how much of the position is investment sales (annuities fixed and variable, mutual funds, insurance etc...) I got licensed with Edward Jones and I currently am working for National City and I'm not happy with their incentive structure whatsoever.

If you have a college degree and a series 6 & 7 why would you want to be a Personal Banker when the Business Banker and Financial Rep position are more lucrative.

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joel031.vox.com/

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defranco50 in Pittsburgh, Pennsylvania

76 months ago

FightBack in I am the real FightBack, New York said: If you have a college degree and a series 6 & 7 why would you want to be a Personal Banker when the Business Banker and Financial Rep position are more lucrative.

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joel031.vox.com/

I understand your comment. Actually I am applying for a Financial Advisor position. At the time of hte posting personal banker was the only opening with chase where I am moving too. I am heading for my second interview this week for the position.

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yanks4life24 in New York

76 months ago

anyone know the salary range for pbs down in boca raton fl?

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Cutie Girl in new orleans, Louisiana

74 months ago

hey chase banker new orleans, do you know how well the bonnabel branch does. i.e. traffic and volume. thanks

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HRattrayJr in Elmont, New York

71 months ago

To Gus,

I recently got hired for the PB position w/ Chase. In my first attempts to apply for the position via the internet I to recieved a couple of those same messages. It seems to be computerized and standard, doesn't mean anything.

I have no college degree. I to have my series 7&63, w/ investment banking experience, none on the commercial side.

My advice to you is to keep on applying and also apply to other banks.

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yessir in brooklyn, New Jersey

69 months ago

HRattrayJr in Elmont, New York said: To Gus,

I recently got hired for the PB position w/ Chase. In my first attempts to apply for the position via the internet I to recieved a couple of those same messages. It seems to be computerized and standard, doesn't mean anything.

I have no college degree. I to have my series 7&63, w/ investment banking experience, none on the commercial side.

My advice to you is to keep on applying and also apply to other banks.

How hard is it to get the series 6 and 63?....i have an interview with chase for pb position next week

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FightBack in I am the real FightBack, New York

69 months ago

Gus Kokenes in Chicago, Illinois said: Hey guys,

I have been a trader on the trading floor of the Chicago Board of trade, Now I am a Sales assistant to top financial advisors at Bank of America. I was really interested in The Chase Personal Banker position. I applied to about 10 of them via their career site and everyone of them replied to me that "after careful consideration, I have not been chosen to interview for this position" I really do not understand. I have a series 7, I was a trader, however I only have an Associates degree in business. This is only a two year degree. Do they require 4 years of college? I do not understant what it takes to get an interview? What should I do?

You sound like you are over qualified for the position of a personal banker.

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riscott in Tyler, Texas

53 months ago

Does anyone know anything about the Bank of America personal banker position? I am moving, and want to get out of my current industy. I'm curious to see how many hours each work and whether or not the BOA job caps its commissions. This job would be a major pay cut from my current position of finance director at Ford, but the hours should be half if personal bankers only work 40 hours/wk. I think i could do well considering my background, and think my quality of life may improve considering i could actually have a life outside of work for once. I have also been offered a personal banker position at Chase. Does anyone know anything about either companys? Which would you choose to work for and why? Lastly, should i even consider either positions?....I don't think i can survive on 40k per year.

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drdoom in richmond, Virginia

53 months ago

riscott, stay away from BOA. You need absolutely no financial knowledge at all to work in the banking centers. You will be told what to say, how to say it, when to say it, and you better not deviate from what they tell you or you have heck to pay. The salary stinks, bonuses stink, but you will work only 40 hours because they don't ever want to pay overtime. If you want to be creative in what you do and don't like to work Saturdays, I would suggest you look for something else in the organization. The company is well worth the look, I would just avoid the retail bank channel like the plague. Just some friendly advice.

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LuLopez in New York, New York

52 months ago

PVCs between 1500 and 2000 will be paid out at 125%. If you hit 2000 it is paid at 150%. That is the top payout percentage. Supposedly if you have less than 1150 pvcs in 3 consecutive months you can be fired, but I haven't seen that happen.

Right now, a checking account for a new customer is 5 pvcs. Savings accounts opened with at least $300 are 15 pvcs.
Investments are still at 2 pvcs per $1000.
Rewards debit cards are 5 pvcs.
Direct deposit is 15 (has to happen twice).
Credit cards are 15 (paid after the card has been used at least once).

Average in my district seems to be 1500 pvcs...but it is not that hard to get above 2k. I get about 1/3 of my pvcs from investments.

Not a bad gig if you don't have a degree or don't want to be in management. I either work 8:30-6:30 m-f, or have a day off in there and work Sat. It rotates...the 10 hour days are way too long and exhausting but the money makes up for that, at least for now.

If you have a good branch manager it is not so bad. If you have a micro-manager he/she will make your life miserable.

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That one guy in Modesto, California

39 months ago

Im a Banker for the past year now and salary is $32k per year and Ive averaged $8,000 in commission per quarter. Job is stable and always keeps you on your toes with lots of room for growth, it is challenging and not easy to make this kind of money but it can be done.

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Financial Guru in South Atlanta, Georgia

38 months ago

defranco50 in Pittsburgh, Pennsylvania said: I understand your comment. Actually I am applying for a Financial Advisor position. At the time of hte posting personal banker was the only opening with chase where I am moving too. I am heading for my second interview this week for the position.

Hey, I am in the process of interviewing for Chase as an FA, can you let me know what the draw or salary is for the first two years and can you give me any advice as far as the hours I will have to work, etc? Thanks!

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randomdude585 in Duluth, Georgia

38 months ago

Hey, I applied for a personal banker position with chase. I completed the online application and took the assessment test. In a couple hours (<12) I received an email saying "we are interested in your background and would like to speak with you further please email ___@chase.com within 3 business days ...". Well, I emailed the recruiter and have not received a phone call or email response. What do you think this means? Was it just a computerized email sent out automatically after passing the assessment?

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Financial Guru in South Atlanta, Georgia

38 months ago

defranco50 in Pittsburgh, Pennsylvania said: I understand your comment. Actually I am applying for a Financial Advisor position. At the time of hte posting personal banker was the only opening with chase where I am moving too. I am heading for my second interview this week for the position.

Hey, did you get that FA position? If so, how is it going? I'm going for the same position. Any info would be a lifesaver! Thanks!

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Frank Perez in Antioch, Illinois

30 months ago

I just applied for Personal Banker position with Chase. I just graduated with my BBA but dont have any financial experience. My goal is to become a Financial Advisor. Do you have any tips for me, or what would be the best process to becoming a Financial Advisors.
Thank You in Advance for your Responses.

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