Hey Business Bankers: Do You See Six Figure Bonuses In Your Future?

Like most bankers I know, I spent part of my career in retail banking.  At the time, I was one of the youngest branch managers.  I was hoping to someday become a region manager…that is until I found out how much money my commercial banking partners were making.  We are talking about $200k to $500k a year!  If you are a Business Banker, you are likely referring your larger business clients to your commercial banking partners.  Guess what?  They are making a boat load of money off your referrals!  You need to become a commercial banker!!!!!

What do you need to do to land a commercial banking job?  You need to be good at filing your pipeline and you need to learn commercial credit!  I became a commercial banker…more specifically a commercial lender!  It changed my career and my life.  I recently came across an article written by the folks at American Banker.  See link to article below.  The article is titled “Banks, credit unions paying top dollar to hire lenders”.  Commercial credit is one of the most in-demand skills across banks, credit unions and fintechs.  If you have good marketing and credit skills, you can easily command a base salary of $150k to $175k.  Depending on the comp plan, your bonuses will likely enable you to double your base and more!  If the message did not sink in before…here it is again…you need to become a commercial banker!!!!!  Unfortunately, banks are not doing a good job of training Business Bankers to become Commercial Bankers…but there is hope!

How can you learn commercial credit?  You have to wait for your bank to put you in a training program, pay thousands of dollars for an independent commercial credit training program, find a mentor who will teach you commercial credit, or you can jump start your commercial lending career with the free Commercial Lending Toolkit.  The Commercial Lending Toolkit is an introduction to all aspects of commercial credit…from commercial credit products to marketing to underwriting and more.  Go to www.bizpetrol.com and take the free toolkit for a test drive.

I strongly recommend that you read the American Banker article.  See link below.  Credit Unions are making a big push into commercial lending.  If you can’t land a commercial lending job at your bank, there is likely a credit union that will hire you and pay you a lot more that what you are currently making…if you have credit  and marketing skills! 

Bizpetrol has information, knowledge and tools that will help you become a Business Banking Rockstar.  You can start elevating your business credit skills using the free Commercial Lending Toolkit at www.bizpetrol.com. You can see all the Business Banking News articles (like this one) at www.bizpetrol.com/blog. You can access a series of how-to business banker guides https://www.bizpetrol.com/Downloads-Free.

Follow #bizpetrol on LinkedIn if you want to see more articles like this one in your feed! If you found this article to be useful, please do me a huge favor and spread the knowledge by sharing the article with your colleagues! 

Article Title:  Banks, credit unions paying top dollar to hire lenders

Article URL: https://www.americanbanker.com/creditunions/news/banks-credit-unions-paying-top-dollar-to-hire-lenders