Average Banker Salary UK
The average Banker salary in UK is £24,451.41.
What does a Banker earn?
On average, bankers earn around £24,451.41 per year in the UK. Bankers oversee the running of their branch or their part of a financial institution. They help clients set up new accounts, manage finances and advise on financial products. Bankers can work in a local branch, national organisation, or within a private company.
To become a banker, you can complete a degree in management or finance before applying to do a management trainee scheme. You can also start in a junior position and advance towards the job as you gain experience. To earn more as a banker, you can aim to get your chartered banker status or move into corporate or investment banking.
Average Salary: £24,451.41
Min: £16,500 Max: £60,000
Average Salary in UK: £24,451.41
Read about Banker salaries and related job and salary information across the UK
Salary by Region
Compare Banker salaries across different regions
Average Banker salary
The average salary for Banker jobs is a valuable metric for employees, employers, and candidates. The salary information can be a helpful insight when advertising jobs, making a job search, applying for jobs and negotiating salary.
Newly qualified Banker basic salary
Newly qualified Bankers should expect to start their career with a salary that is lower than the UK average earnings for the role. It can take several years working as a Banker to achieve the average UK salary.
Your initial per year salary may also be influenced by factors such as the region and city where you work, with London typically offering more than other major cities. Whether you work in England, Scotland, Wales, or Northern Ireland will also alter the job’s average gross and net earnings.
Fully qualified Banker salaries
Your experience level directly affects where in the salary range your earnings will fall. Senior salaries are usually achieved by those who become fully qualified in their field.
Banker career development
In the Banking and Insurance industry, you might be rewarded for the number of years you have worked with the employer. However, promotions and higher pay per year cannot always be achieved by remaining in the same department or company.
Professional development and specialising in a specific area will warrant an appropriate salary increase. Still, you might need to consider setting up a job alert, making a job search, and moving to another company or department to maximise your earnings or find relevant opportunities for progression.
Banker take home pay
In the United Kingdom, your career decisions should not be solely focused on take-home pay. Your average total compensation may include benefits that offer more value than a paycheque.
For example, health insurance, a company vehicle, part or full-time remote working, company share schemes, higher paid annual holiday days, a short commute, and maternity and paternity leave are benefits that can contribute towards your living standards, work/life balance, and job satisfaction.
Increase your annual salary with a Banker pay rise
A pay rise can raise your earnings per year and should be compared against the Banking and Insurance industry average salary pay rise. Comparing your salary rise against metrics such as inflation will tell you if you will be better or worse off during the following year. It would help if you also weighed up your pay increase against the nation's cost of living increase.
If you intend to negotiate a rise above the UK average salary, you will need facts, figures, and percentages to quantify your rise. Before negotiating better pay rates, you should prepare yourself for the discussion. Bring together all the evidence that adds weight to your case for a higher salary, including the average Banker wage, your qualifications, achievements, and recognition.
Get paid more than your job’s average base salary with further training
Further qualifications and training will help you increase your average earnings. Training options include job-relevant diplomas, A levels, and degrees. Completing a course on a specific topic, application, or equipment will also improve your earning potential.
Earn more per year with extra shifts
Working overtime is another option that will help you be paid more than an average salary for your job. If your personal circumstances and commitments allow, you could also work unsocial hours with an hourly pay rate higher than your standard hourly rate.