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The differences between bankers and retail bankers can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 2-4 years to become a banker, becoming a retail banker takes usually requires 6-12 months. Additionally, a banker has an average salary of $44,463, which is higher than the $35,292 average annual salary of a retail banker.
The top three skills for a banker include taking care, financial services and securities. The most important skills for a retail banker are excellent organizational, taking care, and prioritize workload.
| Banker | Retail Banker | |
| Yearly salary | $44,463 | $35,292 |
| Hourly rate | $21.38 | $16.97 |
| Growth rate | 10% | -3% |
| Number of jobs | 29,725 | 85,669 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 56% | Bachelor's Degree, 43% |
| Average age | 43 | 41 |
| Years of experience | 4 | 12 |
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 retail banker is responsible for coordinating with retail clients in opening and closing accounts, updating account statements, and selling new financial services and business opportunities. Retail bankers help clients in managing their finances by recommending investment options according to their needs and objectives. They also handle the clients' banking discrepancies and resolve disputes by evaluating their account statements and identify resolutions immediately. A retail banker must have excellent analytical skills, as well as strong knowledge of the banking industry and practices to provide the highest quality services for the clients.
Bankers and retail bankers have different pay scales, as shown below.
| Banker | Retail Banker | |
| Average salary | $44,463 | $35,292 |
| Salary range | Between $20,000 And $97,000 | Between $26,000 And $47,000 |
| Highest paying City | New York, NY | - |
| Highest paying state | New York | - |
| Best paying company | Citi | - |
| Best paying industry | Finance | - |
There are a few differences between a banker and a retail banker in terms of educational background:
| Banker | Retail Banker | |
| Most common degree | Bachelor's Degree, 56% | Bachelor's Degree, 43% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | - |
Here are the differences between bankers' and retail bankers' demographics:
| Banker | Retail Banker | |
| Average age | 43 | 41 |
| Gender ratio | Male, 46.3% Female, 53.7% | Male, 30.7% Female, 69.3% |
| 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, 10.5% Unknown, 2.9% Hispanic or Latino, 20.0% Asian, 9.5% White, 56.2% American Indian and Alaska Native, 0.9% |
| LGBT Percentage | 6% | 11% |