Hello to all. I just graduated college and started working at a bank in the Houston area as a credit analyst. My plans are to get into commercial lending but I really don't know what kind of salary to expect. I have a general idea from other sources and websites but I wanted to get some feedback from those who are actually in the industry. I know I probably won't get filthy rich but if anyone can give me some feedback, I would really appreciate it.

Thanks.

depends on the bank and the start up position, probably not more than 40000 a year to start with, ask a local employment agency, they know

we use only members in our banks and since they all have experience when they make it to their positions they make 500000 a year guaranteed.

but thats high value private banking and on a very compact network, meaning lots and lots of responsibilities, different languages and 24/7 on the pulse of the action, you don't do that very long.

a credit analyst in the US is a pretty low paid job and with the compartmentalisation in US banks you probably stay in that area for a couple of years. if you have any language skills and can think outside the box and still want to do commercial lending try to get into the m&a structuring and look into compliance procedures deeply. I believe there is more money in private banking but they do   seldom hire a newcomer.

it all depends, like I always say: if you like your job and what you are doing you are normally good at it and there is always place for someone like that. In the US however no way to get rich, if thats what you want.

 

Good luck

Welcome to the world of finance. Richard points out that very few bankers make the kinds of salaries that the public thinks bankers make. And to make that money, you need to be smart, driven and work a ton of hours. You may be one of these people! But there are very few.

As an example, I worked for an I-bank in New York (think Broad Street). I got there after ten years of experience in my chosen field (commercial real estate). Meaning: I had the experience already as well as the post-grad degrees. They were the go-go years at the end of the 90's. I saw the new analysts come in every August and be worked merciliessly for $50-$60k. The analysts' reward was the hope of making it through the initial employment period (think 3 three years) and continue on the path to glory. Very few made it. A qoute from the Secretary, er I mean head of the bank during a quarterly guidance when asked about staff reductions: 95% of the revenue is acclomplished by 5% of the workforce. That's a huge tell on what value is placed on the majority of a bank's workforce.

My time at the bank was interesting. I saw the internal workings and politics of a profitable bank from the inside. But was never an employee but rather a "contingent" third-party consultant. I sat in a cushy office, worked my 16 hour days, and was paid very well. I consider myself one of the lucky ones. But it brings me to this point, a point about working. When employed by someone, you are one of two things; you are either an earner of income (profit)or a draw on income (loss). Whatever you do in life, make sure you are always earning for your company. That way, in times of stagnant or negative growth you are somewhat insulated from the staff contractions and seen by the bank as a positive effect on cashflow.

Presently, there are many persons being let go from their banking positions (I know a good few of them). As a young person, you should be positioning yourself for that time when the industry once again begins its expansions. Think about your MBA now. Include yourself in local and national networks and trade associations. You say "commercial" lender but I do not know what is meant by commercial. Find out what organizations these people belong to and attend. Get to know these people and begin dialogue. You'd be surprised how "good" people can be (See as an example how many posts Richard has on this forum and think about the time he must take to articulate each of his posts). In brief, increase what you know and who you know.

Good luck to you and all the best.

If you are referring to the other side of commercial lending, i.e. being a commercial loan broker, you can make some big money but you don't have security,i.e. chances are you are not working off a salary. In this arena you have to know your lenders just like in residential lending and know what they want and don't want. Most people in this arena came from Residential mortgage lending although the two are very different animals. If you can get into this market and establish yourself, you can do a loan a year and live pretty comfortably (3 points+ on a $30 million dollar loan). There are no regulations regarding commissions in this arena so you can charge what your worth. You may have to do some heavy searching to find some good training on the industry. Good luck!

Drew