Commercial Banking — Average Employee Salary

The average employee in the commercial banking industry earns $113,615 per year ($54.62/hour), according to Bureau of Labor Statistics QCEW data.

$113,615
Avg Annual Pay
1,388,187
Total Employees
80,221
Total Establishments
17
Avg Employees/Business

What Do Commercial Banking Workers Earn?

At $113,615/year (equivalent to $54.62/hour for a full-time worker), commercial banking wages are significantly above the national average of ~$65,000.

Higher wages in this industry typically reflect specialized skills, professional certifications, or technical expertise required for the work. Employers competing for talent in this space face elevated labor costs.

The typical commercial banking business employs 17 people. These are mid-sized operations where payroll is a significant but manageable expense.

Wages as a Percentage of Revenue

1.6%

For the average commercial banking business generating $119.0M/year with 17 employees at $113,615 each, total payroll represents roughly 1.6% of revenue. Labor costs are relatively low compared to revenue — other costs (materials, equipment, overhead) dominate.

What This Means for Business Owners

If you're starting or running a commercial bankingbusiness, here's what the wage data means for your bottom line:

  • Per-employee cost: Budget approximately $147,700/year per employee (salary + ~30% for benefits, taxes, and insurance).
  • Typical team size: 17 employees = ~$1,931,455/year in base payroll.
  • Hourly equivalent: $54.62/hour base — factor this into pricing and project estimates.
  • Revenue needed: With average revenue of $119.0M/business, you need strong utilization rates to maintain healthy margins after payroll.

See how these wages compare to total revenue and profit margins.

View full Commercial Banking revenue benchmarks →

Frequently Asked Questions

How much do commercial banking employees make?
The average commercial banking employee earns $113,615 per year, which is equivalent to $54.62/hour for a full-time worker (2,080 hours/year). This is above the national average of approximately $65,000.
How many people work in the commercial banking industry?
The commercial banking industry employs 1,388,187 workers across 80,221 establishments in the United States. The average business in this industry has approximately 17 employees.

Source: Bureau of Labor Statistics, Quarterly Census of Employment and Wages (QCEW 2023).