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The differences between business bankers and commercial 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 business banker, becoming a commercial banker takes usually requires 4-6 years. Additionally, a commercial banker has an average salary of $78,697, which is higher than the $69,423 average annual salary of a business banker.
The top three skills for a business banker include customer service, financial products and financial services. The most important skills for a commercial banker are customer service, business development, and treasury.
| Business Banker | Commercial Banker | |
| Yearly salary | $69,423 | $78,697 |
| Hourly rate | $33.38 | $37.84 |
| Growth rate | 10% | 4% |
| Number of jobs | 70,054 | 45,270 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 77% |
| Average age | 43 | 45 |
| Years of experience | 4 | 6 |
A business banker is an individual who collaborates with other bank coworkers to help business customers meet their specific banking needs. Business bankers must sell a variety of banking products and services such as business deposit accounts, treasury management, and business credit cards. They are required to maintain consistent communication with their clients through outbound calls and personal onsite visits. Business bankers must also devise and modify loan schemes depending on the market requirements as well as study the schemes offered by competitors.
A commercial banker is responsible for providing financial advice and selling financial instruments to corporate clients according to their business needs and specifications. Commercial bankers process the opening and registration of corporate client accounts, updating the clients with current financial services, and resolving account disputes. They also manage investment options and identify opportunities that would help the bank gain more prospective clients that would increase the company's revenues and profitability. A commercial banker must have excellent knowledge of the banking industry to determine banking solutions for clients for their best interests.
Business bankers and commercial bankers have different pay scales, as shown below.
| Business Banker | Commercial Banker | |
| Average salary | $69,423 | $78,697 |
| Salary range | Between $39,000 And $121,000 | Between $51,000 And $121,000 |
| Highest paying City | - | Seattle, WA |
| Highest paying state | - | New Mexico |
| Best paying company | - | Northern Trust |
| Best paying industry | - | Finance |
There are a few differences between a business banker and a commercial banker in terms of educational background:
| Business Banker | Commercial Banker | |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 77% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between business bankers' and commercial bankers' demographics:
| Business Banker | Commercial Banker | |
| Average age | 43 | 45 |
| Gender ratio | Male, 63.3% Female, 36.7% | Male, 63.5% Female, 36.5% |
| Race ratio | Black or African American, 5.4% Unknown, 4.1% Hispanic or Latino, 11.1% Asian, 12.1% White, 67.1% American Indian and Alaska Native, 0.2% | Black or African American, 9.7% Unknown, 4.7% Hispanic or Latino, 14.7% Asian, 6.6% White, 63.8% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 6% | 8% |