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The differences between consumer bankers and business bankers can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both a consumer banker and a business banker. Additionally, a business banker has an average salary of $69,423, which is higher than the $39,462 average annual salary of a consumer banker.
The top three skills for a consumer banker include financial services, securities and cash management. The most important skills for a business banker are customer service, financial products, and financial services.
| Consumer Banker | Business Banker | |
| Yearly salary | $39,462 | $69,423 |
| Hourly rate | $18.97 | $33.38 |
| Growth rate | 10% | 10% |
| Number of jobs | 24,716 | 70,054 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 59% | Bachelor's Degree, 66% |
| Average age | 43 | 43 |
| Years of experience | 4 | 4 |
A consumer banker is responsible for providing efficient banking services, aiming for smooth operations and client satisfaction. Although the extent of their responsibilities depends on their company or place of employment, it typically revolves around assisting clients with different banking procedures, answering inquiries, processing requests such as withdrawals and deposits, opening and closing accounts, maintaining records, and performing data entry tasks. Moreover, a consumer banker typically works in a team environment, which requires an active communication line for an efficient workflow.
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.
Consumer bankers and business bankers have different pay scales, as shown below.
| Consumer Banker | Business Banker | |
| Average salary | $39,462 | $69,423 |
| Salary range | Between $27,000 And $56,000 | Between $39,000 And $121,000 |
| Highest paying City | - | - |
| Highest paying state | - | - |
| Best paying company | - | - |
| Best paying industry | - | - |
There are a few differences between a consumer banker and a business banker in terms of educational background:
| Consumer Banker | Business Banker | |
| Most common degree | Bachelor's Degree, 59% | Bachelor's Degree, 66% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between consumer bankers' and business bankers' demographics:
| Consumer Banker | Business Banker | |
| Average age | 43 | 43 |
| Gender ratio | Male, 42.9% Female, 57.1% | Male, 63.3% Female, 36.7% |
| Race ratio | Black or African American, 5.6% Unknown, 4.1% Hispanic or Latino, 11.8% Asian, 10.7% White, 67.5% American Indian and Alaska Native, 0.2% | 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% |
| LGBT Percentage | 6% | 6% |