Highest-Paying Teller Jobs [2023]

Research Summary. Using a combination of public government and company data as well as data gathered from thousands of job postings, the Zippia data team has created average salary estimates for jobs across the US. Using that data set, the team has identified the types of tellers that are the highest paid based on their average annual salaries.

Here is a summary of our findings for the highest-paying types of tellers:

• Banking Associate is the highest-paid type of teller with an average salary of $81,890 and an average hourly rate of $39.37.

• The second highest-paying type of teller is merchant, with an average salary of $74,999.

• The average teller salary is $32,171 per year, and the average hourly pay is $15.47.

Table Of Contents: Background | Table | Methodology | FAQs

Background

Choosing a career path can be difficult, and while pay shouldn’t be the only thing you consider in your decision, it is a significant factor. So if you’d like to work as a teller, it helps to have an idea of what the highest-paid types of tellers are so that you can plan your career progression.

Here are the top salaries for different types of tellers:

1. Banking Associate

   Average Salary: $81,890

   A banking associate’s role is to build positive relationships with clients by performing support tasks. Their responsibilities revolve around greeting clients, processing requests and documentation, gathering and verifying requirements, responding to inquiries and concerns, and offering other services and products to clients. They may also produce progress reports, financial statements, coordinate with team members, and liaise with external agencies. Furthermore, as a banking associate, it is essential to handle issues and complaints, all while adhering to the bank’s policies and regulations.

2. Merchant

   Average Salary: $74,999

   A merchant is responsible for selling goods and services for an organization to generate revenues by reaching out to existing and potential customers and discuss the products’ features. Merchants must have extensive knowledge of the goods offered by the company to be able to respond to customers’ inquiries and concerns accurately. They also maintain the adequacy of inventory for store orders, create purchase requests, and analyze sales performance. A merchant coordinates with the sales and marketing team to develop efficient promotional strategies and increase brand awareness on public platforms.

3. Assistant Head Teller

   Average Salary: $47,293

4. Head Teller

   Average Salary: $46,820

   A head teller is a professional who supervises a team of bank tellers that process a variety of financial transactions, such as check cashing and loan payments. Head tellers manage bank tellers so that enough cash is available in their cash drawers. They provide access to the bank’s vault and audit it regularly with a second employee’s help. They also train new tellers in bank practice and procedure so that these tellers can handle customers’ queries and concerns professionally.

5. Senior Teller

   Average Salary: $45,334

   A senior teller oversees banking operations, mainly focusing on the performance of tellers. Aside from designating tasks, they are also responsible for maintaining ATMs and cash drawers, providing vault access, and coordinating with other bank officials. A senior teller must address and investigate any discrepancies or concerns, resolving them in a timely and professional manner. Furthermore, as a senior on the team, they must lead junior tellers into being an efficient part of the workforce, all while implementing its policies and regulations.

Below is a full table of the average pay for various teller that pay the most followed by a more detailed explanation of our methodology.

Highest-Paying Types Of Tellers

Methodology

Zippia uses publicly published information from government sources such as the Bureau of Labor Statistics (BLS), Foreign Labor Certification Data Center (FLC), and the Office of Personnel Management (OPM) to create its salary estimates.

Our data science team also checks job postings and company-published resources for additional up-to-date salary information for tellers.

Once they’ve gathered the data, the team calculates a weighted average for each job title they’re estimating a salary for. For more details on our salary estimates, you can read the detailed methodology.

Highest-Paying Types Of Teller Jobs FAQs

1. What is the highest-paid teller job?

   The highest-paid teller job is a banking associate. Banking Associates earn an average salary of $81,890, which is $ 39.37 hourly.

   A banking associate’s role is to build positive relationships with clients by performing support tasks. Their responsibilities revolve around greeting clients, processing requests and documentation, gathering and verifying requirements, responding to inquiries and concerns, and offering other services and products to clients. They may also produce progress reports, financial statements, coordinate with team members, and liaise with external agencies. Furthermore, as a banking associate, it is essential to handle issues and complaints, all while adhering to the bank’s policies and regulations.

2. What is a good salary for a teller?

   A good salary for a teller is $32,171 or more. The average teller salary is $32,171, so those making at least $32,171 are earning above-average paychecks.

   Keep in mind, however, that the average teller salary does fluctuate based on location, as companies will adjust their pay scales based on the cost of living in that area. Research what the average salary is in your area for someone of your expertise and experience level to get a more accurate view on how well you’re being paid.

   In addition, if you’re just starting your career as a teller, the average entry level salary is $28,601, so don’t base your opinion of your salary on the $32,171 average, as this includes all tellers of all skill and experience levels.

3. Do Teller jobs pay well?

   No, teller jobs don’t pay well. As in any industry, some teller jobs pay better than others, but the average teller salary of $32,171 is times the average national salary of about $44,225 per year.

   In addition to this, many teller jobs have high earning potential, with the top 10% of tellers earning $34,864 a year on average.

   Tellers’ salaries will fluctuate based on their experience level, industry, and location, so pay attention to these factors when you’re looking for a job as a teller. Do your research on the going rate for a teller in your area with your expertise, and don’t be afraid to negotiate your salary based on that information.

4. Where do tellers get paid the most?

   Tellers get paid the most in Rhode Island. In Rhode Island, tellers earn an average annual salary of $34,794 and an average hourly wage of $16.73.

   Following RI, the states with the highest-paid tellers are New Hampshire, Maine, and New Jersey, with average annual salaries of $35,253, $34,399, and $36,832 respectively.

   The cities with the highest-paid teller salaries are:

   1. Manchester, NJ – $36,660

   2. Springfield, MA – $35,848

   3. Albany, NY – $35,501

Author

Chris Kolmar

Chris Kolmar is a co-founder of Zippia and the editor-in-chief of the Zippia career advice blog. He has hired over 50 people in his career, been hired five times, and wants to help you land your next job. His research has been featured on the New York Times, Thrillist, VOX, The Atlantic, and a host of local news. More recently, he's been quoted on USA Today, BusinessInsider, and CNBC.