Close-up of bank advisers' salaries

Bank advisers are specialists in financial investments. They help their customers to manage their assets and therefore earn a substantial salary, which varies according to their responsibilities and customer portfolio. Salary is obviously a criterion when choosing a career. IPAG Business School gives you an overview of this exciting finance profession and the salary you can expect to earn when you become a banking adviser.

What is a bank advisor and what does he or she do?

A bank adviser is an employee of a bank. Working directly with their customers, they are responsible for guiding, advising and supporting them in their financial and investment choices.

The banking customer adviser is a salesperson who can adapt to different customer profiles:

• private individuals ;
• professionals (craftsmen, the self-employed, the self-employed, very small businesses, large companies).

Their tasks are varied, but generally involve building customer loyalty or attracting new customers, as they work in a competitive sector. They may therefore :

• manage the opening of bank accounts
• study financing applications
• organise payment facilities;
• invest money according to their customers' wishes.

Bank advisers can also become wealth managers, to support customers with substantial assets.

What factors influence a bank adviser's salary?

As in every profession, bank advisers are paid differently depending on certain criteria.
1) Professional experience

Professional experience is obviously one of the most important criteria when negotiating salaries. A financial adviser with many years' experience, and why not with expertise in certain markets or customer types, can claim a more attractive salary.
2) Level of training

A bank adviser's qualifications have an impact on their remuneration. Holders of a higher education qualification progress more quickly, but they can also claim higher salaries, even as beginners.
3) Geographical location

The city in which a bank adviser works also has an impact on the salary he or she earns. For example, a bank adviser hired in Paris or a large city will generally be paid more than if he or she had been hired in a regional area.

What is the average salary for a banking adviser?

The salary ranges for a personal customer adviser are attractive right from the start of their career: up to EUR 30,000 gross per annum in France, with less than two years' experience depending on the vacancy.

Here are the salary ranges for this job, depending on years of experience and the other criteria mentioned above (skills, etc.):

• Beginning bank advisers can expect a salary of between EUR 25,000 and EUR 30,000 gross per year, or EUR 1,600 to EUR 1,900 net per month.
• Senior bank advisers earn an average of EUR 3,000 gross per month.
• Senior bank advisers can expect a salary of between EUR 45,000 and EUR 50,000 gross per year, or approximately EUR 2,000 to EUR 3,000 net per month.

As a general rule, existing financial advisers receive bonuses based on their sales targets and performance, in addition to their basic source of income.

How can I study to become a banking adviser and qualify for the best salaries?

Depending on your salary expectations and your career goals, there are several options available to you after your A-levels to become a financial adviser or customer adviser:

• BTS banking, customer adviser: a two-year post-baccalaureate course focusing on banking professions.
• DUT GEA finance-accounting option: two-year university technology diploma specialising in finance and accounting.
• Bachelor's/Master's degree in finance, banking and insurance: three- to five-year university course offering in-depth training in finance.

Business school is also a very attractive option. This three- to five-year course, with a specialisation in finance, offers access to positions of responsibility in the banking sector as soon as you graduate.

IPAG Business School offers a range of courses to enable you to practise your profession in the best possible conditions:

• Our Grande École programme (PGE) offers a 5-year post-bac course leading to a Master's degree. It is divided into 2 cycles: a 3-year cycle dedicated to the basics of economics, management and administration, followed by a 2-year cycle of specialisation. Some students choose to take an international double degree with this programme.
• The master's in market finance is a possible specialisation in year 5ᵉ of the PGE, and prepares candidates to become experts in financial analysis, consulting or asset management.
• The wealth management master's degree also offers a programme tailored for those wishing to become bank advisers. This specialisation focuses on the management, creation and transfer of wealth.

What are the career and salary prospects for a banking adviser?

The job of banking advisor can lead to a number of rewarding career paths in the field of advice or financial management. Typically, you will quickly be offered opportunities as an account manager. They may also specialise in supporting professionals and businesses, for example.

A financial adviser working in a banking institution can easily become a branch manager with a few years' experience.

Some also choose other career paths:

• wealth manager ;
• asset manager
• insurance company manager
• branch manager
• product manager ;
• business development manager.

Finance professionals often move up the career ladder to positions of greater responsibility by undergoing further training or by achieving outstanding results. What's more, the remuneration offered is highly dependent on the performance achieved.

Things to remember about bank advisers' salaries:

• Financial advisers' salaries depend not only on their years of experience, but also and above all on their qualifications when they enter the job market.
• Remuneration can also vary according to certain criteria, such as location.
• Performance bonuses make a big difference to a bank customer adviser's salary.
• Career development for banking advisers means that they can quickly move up to even better salaries, for example by becoming a merger and acquisition advisor.

Contact our business school for more information about the job of financial analyst or to enrol on one of IPAG's courses.