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The differences between bank specialists and business bankers can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both a bank specialist and a business banker. Additionally, a business banker has an average salary of $69,423, which is higher than the $42,779 average annual salary of a bank specialist.
The top three skills for a bank specialist include bank products, strong customer service and customer relationships. The most important skills for a business banker are customer service, financial products, and financial services.
| Bank Specialist | Business Banker | |
| Yearly salary | $42,779 | $69,423 |
| Hourly rate | $20.57 | $33.38 |
| Growth rate | 10% | 10% |
| Number of jobs | 22,225 | 70,054 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 62% | Bachelor's Degree, 66% |
| Average age | 43 | 43 |
| Years of experience | 4 | 4 |
A bank or banking specialist is an individual responsible for maintaining effective business relationships with the bank's clients while ensuring an optimal customer service level. To support customer retention, bank specialists must identify their customers' banking needs and suggest appropriate bank products and services. They perform teller functions such as processing customer deposits, cashing checks, and issuing official checks. Bank specialists must also ensure that the bank complies with government regulations and standards.
A business banker is an individual who collaborates with other bank coworkers to help business customers meet their specific banking needs. Business bankers must sell a variety of banking products and services such as business deposit accounts, treasury management, and business credit cards. They are required to maintain consistent communication with their clients through outbound calls and personal onsite visits. Business bankers must also devise and modify loan schemes depending on the market requirements as well as study the schemes offered by competitors.
Bank specialists and business bankers have different pay scales, as shown below.
| Bank Specialist | Business Banker | |
| Average salary | $42,779 | $69,423 |
| Salary range | Between $28,000 And $64,000 | Between $39,000 And $121,000 |
| Highest paying City | New York, NY | - |
| Highest paying state | New York | - |
| Best paying company | Goldman Sachs | - |
| Best paying industry | Finance | - |
There are a few differences between a bank specialist and a business banker in terms of educational background:
| Bank Specialist | Business Banker | |
| Most common degree | Bachelor's Degree, 62% | Bachelor's Degree, 66% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between bank specialists' and business bankers' demographics:
| Bank Specialist | Business Banker | |
| Average age | 43 | 43 |
| Gender ratio | Male, 45.3% Female, 54.7% | Male, 63.3% Female, 36.7% |
| Race ratio | Black or African American, 5.7% Unknown, 4.1% Hispanic or Latino, 11.9% Asian, 11.4% White, 66.6% American Indian and Alaska Native, 0.2% | Black or African American, 5.4% Unknown, 4.1% Hispanic or Latino, 11.1% Asian, 12.1% White, 67.1% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 6% | 6% |