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The differences between banking associates and 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 $69,556 average annual salary of an associate.
The top three skills for a banking associate include excellent interpersonal, strong customer service and financial transactions. The most important skills for an associate are customer service, sales floor, and patients.
| Banking Associate | Associate | |
| Yearly salary | $81,890 | $69,556 |
| Hourly rate | $39.37 | $33.44 |
| Growth rate | -12% | - |
| Number of jobs | 18,919 | 569,041 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 63% | Bachelor's Degree, 46% |
| Average age | 39 | 41 |
| Years of experience | - | - |
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.
Associates are typically entry-level positions for employees who are taking on their first job or organizational role. They are assigned to teams or departments that are related to their skills or educational background. They usually start with smaller tasks that may not seem as impactful but are still essential to the department. Associates are trained by more tenured team members on the ins and outs of the department and the organization. As they grow with the organization, they are given more responsibilities that directly impact the results of the department's initiatives as they work towards their goals.
Banking associates and associates have different pay scales, as shown below.
| Banking Associate | Associate | |
| Average salary | $81,890 | $69,556 |
| Salary range | Between $47,000 And $141,000 | Between $34,000 And $140,000 |
| Highest paying City | White Plains, NY | Washington, DC |
| Highest paying state | New York | New York |
| Best paying company | Citi | Simpson Thacher & Bartlett |
| Best paying industry | Finance | - |
There are a few differences between a banking associate and an associate in terms of educational background:
| Banking Associate | Associate | |
| Most common degree | Bachelor's Degree, 63% | Bachelor's Degree, 46% |
| Most common major | Business | Business |
| Most common college | - | - |
Here are the differences between banking associates' and associates' demographics:
| Banking Associate | Associate | |
| Average age | 39 | 41 |
| Gender ratio | Male, 41.8% Female, 58.2% | Male, 50.4% Female, 49.6% |
| Race ratio | 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% | Black or African American, 10.5% Unknown, 5.3% Hispanic or Latino, 18.3% Asian, 8.3% White, 57.0% American Indian and Alaska Native, 0.6% |
| LGBT Percentage | 7% | 7% |