A survey of New Hampshire financial professionals has identified what it believes is the average salary for commercial lenders in the Granite State. 

Smith & Wilkinson, an executive search and leadership consulting organization based in Maine, recently released results from its 10th annual Commercial Lender Salary Survey, as well as its third Annual Commercial Team Leader, Credit Analyst and Credit Manager Surveys. 

The Smith & Wilkinson survey found that the average salary for commercial lenders in New Hampshire in 2018 was $113,000, with commercial lender team leaders reporting an average salary of $174,000.  Respondents represented a range of financial institutions including publicly traded, privately owned/closely held, credit unions and mutual/cooperative. 

Combined, the surveys had nearly 1,300 respondents representing 22 states.   

According to Smith & Wilkinson, salaries and bonuses for the nearly 900 commercial lenders responding rose across almost all institution types, asset sizes and geographies, with an increase in base salaries of more than 3 percent, and an increase in bonuses of nearly 5 percent in 2018.  The highest salary and average bonus by region were found in the New York-New Jersey-Pennsylvania region. 

“We anticipate that compensation for commercial lending and credit talent will continue to increase steadily as demand outstrips supply,” Cameron Boyd, director of Smith & Wilkinson’s financial services practice, said in a statement. “The challenge for employers will be to present compensation packages that are able to recruit and attract high quality talent. Because of these challenges, we are seeing an increase in the number of financial institutions, both banks and credit unions, contacting us seeking assistance in developing and presenting these types of packages.”