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The differences between bankers and finance advisors can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both a banker and a finance advisor. Additionally, a finance advisor has an average salary of $64,993, 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 finance advisor are team support, wealth management, and securities.
| Banker | Finance Advisor | |
| Yearly salary | $44,463 | $64,993 |
| Hourly rate | $21.38 | $31.25 |
| Growth rate | 10% | 15% |
| Number of jobs | 29,725 | 106,311 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 56% | Bachelor's Degree, 74% |
| Average age | 43 | 45 |
| Years of experience | 4 | 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 Financial Advisor specializes in sharing their expertise with an individual or company on how to handle and boost finances. The responsibilities of a Financial Advisor include creating and proposing a strategy to attain financial gains through profits and investments, educating the client about new methods and opportunities, monitor and evaluate progress, and as well as plan policies according to the clients' life changes. Furthermore, it is also the duty of the Financial Advisor to research new investments that would be of great help to the client's assets.
Bankers and finance advisors have different pay scales, as shown below.
| Banker | Finance Advisor | |
| Average salary | $44,463 | $64,993 |
| Salary range | Between $20,000 And $97,000 | Between $34,000 And $121,000 |
| Highest paying City | New York, NY | New York, NY |
| Highest paying state | New York | New York |
| Best paying company | Citi | Enbridge |
| Best paying industry | Finance | Finance |
There are a few differences between a banker and a finance advisor in terms of educational background:
| Banker | Finance Advisor | |
| Most common degree | Bachelor's Degree, 56% | Bachelor's Degree, 74% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Minnesota - Twin Cities |
Here are the differences between bankers' and finance advisors' demographics:
| Banker | Finance Advisor | |
| Average age | 43 | 45 |
| Gender ratio | Male, 46.3% Female, 53.7% | Male, 72.3% Female, 27.7% |
| 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, 5.6% Unknown, 4.4% Hispanic or Latino, 9.5% Asian, 8.3% White, 72.1% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 6% | 5% |