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The differences between bankers and banking associates can be seen in a few details. Each job has different responsibilities and duties. Additionally, a banking associate has an average salary of $81,890, which is higher than the $44,463 average annual salary of a banker.
The top three skills for a banker include taking care, financial services and securities. The most important skills for a banking associate are excellent interpersonal, strong customer service, and financial transactions.
| Banker | Banking Associate | |
| Yearly salary | $44,463 | $81,890 |
| Hourly rate | $21.38 | $39.37 |
| Growth rate | 10% | -12% |
| Number of jobs | 29,725 | 18,919 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 56% | Bachelor's Degree, 63% |
| Average age | 43 | 39 |
| Years of experience | 4 | - |
A banker is primarily responsible for assisting clients with their banking needs, particularly when withdrawing, depositing, and paying. Aside from handling transactions, bankers are also mainly responsible for opening and closing accounts, processing requirements, verifying the validity of documentation, recommending services and other financial options to clients, and resolving inquiries and concerns. A banker may answer calls and correspondence, coordinate with other banking personnel, maintain accurate data, and discuss conditions to clients thoroughly. Furthermore, because a banker mainly works with clients, it is essential to attain customer satisfaction.
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.
Bankers and banking associates have different pay scales, as shown below.
| Banker | Banking Associate | |
| Average salary | $44,463 | $81,890 |
| Salary range | Between $20,000 And $97,000 | Between $47,000 And $141,000 |
| Highest paying City | New York, NY | White Plains, NY |
| Highest paying state | New York | New York |
| Best paying company | Citi | Citi |
| Best paying industry | Finance | Finance |
There are a few differences between a banker and a banking associate in terms of educational background:
| Banker | Banking Associate | |
| Most common degree | Bachelor's Degree, 56% | Bachelor's Degree, 63% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | - |
Here are the differences between bankers' and banking associates' demographics:
| Banker | Banking Associate | |
| Average age | 43 | 39 |
| Gender ratio | Male, 46.3% Female, 53.7% | Male, 41.8% Female, 58.2% |
| Race ratio | Black or African American, 5.5% Unknown, 4.1% Hispanic or Latino, 11.4% Asian, 12.3% White, 66.5% American Indian and Alaska Native, 0.2% | Black or African American, 10.1% Unknown, 3.5% Hispanic or Latino, 17.8% Asian, 7.4% White, 60.7% American Indian and Alaska Native, 0.6% |
| LGBT Percentage | 6% | 7% |