Byron Donalds was born and raised in Crown Heights, Brooklyn, New York, and is of Jamaican and Panamanian heritage. He attended Florida A&M University before earning a Bachelor of Science degree in finance and marketing from Florida State University in 2002. Donalds began his professional career in 2003 as a credit analyst at TIB Bank, where he was promoted to senior credit analyst, commercial credit manager, assistant vice president, and credit manager.