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Working as a Banking Associate

There are various kinds of banking associates, and they have different roles and responsibilities. Commercial banking associates sell banking products to new and existing customers. Investment banking associates work closely with investment analysts to identify opportunities and sell investment packages to investors.

A day in the life of a banking associate varies depending on the department and current needs. However, like other banking sector professionals, they often work long hours and shoulder a lot of responsibility. A large part of the job involves meeting and interacting with clients. Before trying to sell a product, banking associates may often probe to understand clients' needs and see how their products can help.

To become a banking associate, you need a degree in business administration, management, or related fields. Applicants with an MBA have higher chances of finding employment as a banking associate. The required skills include relationship building, communication, problem-solving, and proactivity.

There is more than meets the eye when it comes to being a banking associate. For example, did you know that they make an average of $15.12 an hour? That's $31,454 a year!

Between 2018 and 2028, the career is expected to grow -12% and produce -57,800 job opportunities across the U.S.

What Does a Banking Associate Do

There are certain skills that many banking associates have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed customer-service skills, math skills and detail oriented.

When it comes to the most important skills required to be a banking associate, we found that a lot of resumes listed 36.5% of banking associates included financial transactions, while 24.7% of resumes included financial needs, and 4.7% of resumes included financial services. Hard skills like these are helpful to have when it comes to performing essential job responsibilities.

When it comes to searching for a job, many search for a key term or phrase. Instead, it might be more helpful to search by industry, as you might be missing jobs that you never thought about in industries that you didn't even think offered positions related to the banking associate job title. But what industry to start with? Most banking associates actually find jobs in the finance and professional industries.

How To Become a Banking Associate

If you're interested in becoming a banking associate, one of the first things to consider is how much education you need. We've determined that 45.8% of banking associates have a bachelor's degree. In terms of higher education levels, we found that 16.8% of banking associates have master's degrees. Even though most banking associates have a college degree, it's possible to become one with only a high school degree or GED.

Choosing the right major is always an important step when researching how to become a banking associate. When we researched the most common majors for a banking associate, we found that they most commonly earn bachelor's degree degrees or master's degree degrees. Other degrees that we often see on banking associate resumes include associate degree degrees or high school diploma degrees.

You may find that experience in other jobs will help you become a banking associate. In fact, many banking associate jobs require experience in a role such as customer service representative. Meanwhile, many banking associates also have previous career experience in roles such as sales associate or teller.

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Average Salary$31,454
Job Growth Rate-12%

Banking Associate Career Paths

Top Careers Before Banking Associate

Teller
9.8 %

Top Careers After Banking Associate

What is the right job for my career path?

Tell us your goals and we'll match you with the rights job to get there.

Average Salary for a Banking Associate

Banking Associates in America make an average salary of $31,454 per year or $15 per hour. The top 10 percent makes over $51,000 per year, while the bottom 10 percent under $19,000 per year.
Average Salary
$31,454

Best Paying Cities

City
Average Salary
New York, NY
Salary Range33k - 70k$49k$48,791
Miami, FL
Salary Range32k - 53k$42k$41,610
Jersey City, NJ
Salary Range26k - 56k$39k$39,198
Richmond, VA
Salary Range27k - 51k$37k$37,395
Cupertino, CA
Salary Range27k - 47k$36k$36,325
Wilmington, DE
Salary Range24k - 51k$35k$35,467
$21k
$70k

Recently Added Salaries

Job TitleCompanyCompanyStart DateSalary
Banking Associate
Banking Associate
Robert Half
Robert Half
01/26/2021
01/26/2021
$27,13101/26/2021
$27,131
Associate Banker
Associate Banker
Robert Half
Robert Half
01/25/2021
01/25/2021
$52,17501/25/2021
$52,175
Banking Associate
Banking Associate
Robert Half
Robert Half
12/24/2020
12/24/2020
$24,79412/24/2020
$24,794
Bank Associate
Bank Associate
Randstad
Randstad
11/05/2020
11/05/2020
$35,47911/05/2020
$35,479
Banking Document Review Associate
Banking Document Review Associate
Robert Half
Robert Half
07/23/2020
07/23/2020
$33,39207/23/2020
$33,392
See More Recent Salaries

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Banking Associate Resumes

Designing and figuring out what to include on your resume can be tough, not to mention time-consuming. That's why we put together a guide that is designed to help you craft the perfect resume for becoming a Banking Associate. If you're needing extra inspiration, take a look through our selection of templates that are specific to your job.

Learn How To Write a Banking Associate Resume

At Zippia, we went through countless Banking Associate resumes and compiled some information about how best to optimize them. Here are some suggestions based on what we found, divided by the individual sections of the resume itself.

View Detailed Information

Banking Associate Demographics

Gender

female

53.1 %

male

39.0 %

unknown

7.9 %

Ethnicity

White

62.0 %

Hispanic or Latino

18.4 %

Black or African American

10.0 %

Foreign Languages Spoken

Spanish

38.8 %

French

10.3 %

Mandarin

9.7 %
See More Demographics

Banking Associate Education

Majors

Business
30.2 %
Finance
16.6 %

Degrees

Bachelors

45.8 %

Masters

16.8 %

Associate

14.0 %
Job type you want
Full Time
Part Time
Internship
Temporary

Top Skills For a Banking Associate

The skills section on your resume can be almost as important as the experience section, so you want it to be an accurate portrayal of what you can do. Luckily, we've found all of the skills you'll need so even if you don't have these skills yet, you know what you need to work on. Out of all the resumes we looked through, 36.5% of banking associates listed financial transactions on their resume, but soft skills such as customer-service skills and math skills are important as well.

  • Financial Transactions, 36.5%
  • Financial Needs, 24.7%
  • Financial Services, 4.7%
  • Powerpoint, 2.6%
  • Bank Products, 2.5%
  • Other Skills, 29.0%
  • See All Banking Associate Skills

Best States For a Banking Associate

Some places are better than others when it comes to starting a career as a banking associate. The best states for people in this position are New York, Florida, New Jersey, and Virginia. Banking associates make the most in New York with an average salary of $47,874. Whereas in Florida and New Jersey, they would average $40,584 and $39,721, respectively. While banking associates would only make an average of $37,873 in Virginia, you would still make more there than in the rest of the country. We determined these as the best states based on job availability and pay. By finding the median salary, cost of living, and using the Bureau of Labor Statistics' Location Quotient, we narrowed down our list of states to these four.

1. New York

Total Banking Associate Jobs:
175
Highest 10% Earn:
$94,000
Location Quotient:
2.3
Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here

2. Florida

Total Banking Associate Jobs:
71
Highest 10% Earn:
$63,000
Location Quotient:
0.98
Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here

3. New Jersey

Total Banking Associate Jobs:
64
Highest 10% Earn:
$78,000
Location Quotient:
1.43
Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here
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Top Banking Associate Employers

1. JPMorgan Chase
4.9
Avg. Salary: 
$135,273
Banking Associates Hired: 
466+
2. Regions Bank
4.8
Avg. Salary: 
$135,226
Banking Associates Hired: 
217+
3. Bank of America
4.8
Avg. Salary: 
$135,256
Banking Associates Hired: 
189+
4. Wells Fargo
4.7
Avg. Salary: 
$135,231
Banking Associates Hired: 
147+
5. Quicken Loans
4.8
Avg. Salary: 
$85,780
Banking Associates Hired: 
92+
6. Citi
4.8
Avg. Salary: 
$135,275
Banking Associates Hired: 
84+

Banking Associate Videos

Updated October 2, 2020