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The differences between business bankers and finance service representatives can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both a business banker and a finance service representative. Additionally, a business banker has an average salary of $69,423, which is higher than the $38,361 average annual salary of a finance service representative.
The top three skills for a business banker include customer service, financial products and financial services. The most important skills for a finance service representative are financial services, patients, and team-oriented environment.
| Business Banker | Finance Service Representative | |
| Yearly salary | $69,423 | $38,361 |
| Hourly rate | $33.38 | $18.44 |
| Growth rate | 10% | 10% |
| Number of jobs | 70,054 | 220,519 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 60% |
| Average age | 43 | 43 |
| Years of experience | 4 | 4 |
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 financial service representative typically works for a bank or a similar establishment. One of their primary responsibilities is to reach out to clients and offer financial advice, services, or products such as insurance and credit cards. They can also set appointments, meet with clients to discuss benefits, and even gather applications. Furthermore, a financial service representative needs to have extensive knowledge of the products and services and be equipped with communication skills to build a rapport that will be essential in securing trust and sales.
Business bankers and finance service representatives have different pay scales, as shown below.
| Business Banker | Finance Service Representative | |
| Average salary | $69,423 | $38,361 |
| Salary range | Between $39,000 And $121,000 | Between $25,000 And $58,000 |
| Highest paying City | - | New York, NY |
| Highest paying state | - | New York |
| Best paying company | - | Bloomberg |
| Best paying industry | - | Government |
There are a few differences between a business banker and a finance service representative in terms of educational background:
| Business Banker | Finance Service Representative | |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 60% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between business bankers' and finance service representatives' demographics:
| Business Banker | Finance Service Representative | |
| Average age | 43 | 43 |
| Gender ratio | Male, 63.3% Female, 36.7% | Male, 41.2% Female, 58.8% |
| 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, 5.7% Unknown, 4.1% Hispanic or Latino, 11.9% Asian, 10.1% White, 67.9% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 6% | 6% |