Consumer banker vs finance service representative

The differences between consumer 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 consumer banker and a finance service representative. Additionally, a consumer banker has an average salary of $39,462, which is higher than the $38,361 average annual salary of a finance service representative.

The top three skills for a consumer banker include financial services, securities and cash management. The most important skills for a finance service representative are financial services, patients, and team-oriented environment.

Consumer banker vs finance service representative overview

	Consumer Banker	Finance Service Representative
Yearly salary	$39,462	$38,361
Hourly rate	$18.97	$18.44
Growth rate	10%	10%
Number of jobs	24,716	220,519
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 59%	Bachelor's Degree, 60%
Average age	43	43
Years of experience	4	4

What does a consumer banker do?

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.

What does a finance service representative do?

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.

Consumer banker vs finance service representative salary

Consumer bankers and finance service representatives have different pay scales, as shown below.

	Consumer Banker	Finance Service Representative
Average salary	$39,462	$38,361
Salary range	Between $27,000 And $56,000	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

Differences between consumer banker and finance service representative education

There are a few differences between a consumer banker and a finance service representative in terms of educational background:

	Consumer Banker	Finance Service Representative
Most common degree	Bachelor's Degree, 59%	Bachelor's Degree, 60%
Most common major	Business	Business
Most common college	University of Pennsylvania	University of Pennsylvania

Consumer banker vs finance service representative demographics

Here are the differences between consumer bankers' and finance service representatives' demographics:

	Consumer Banker	Finance Service Representative
Average age	43	43
Gender ratio	Male, 42.9% Female, 57.1%	Male, 41.2% Female, 58.8%
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, 5.7% 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%

Differences between consumer banker and finance service representative duties and responsibilities

Consumer banker example responsibilities.

Work one-on-one with clients to gather requirements and identify cross-selling opportunities and leverage customer leads and referrals to identify new prospects.
Handle vault, safe-deposit, ATM and night-drop activities.
Facilitate monthly auditing by conducting cash counts for vault and ATM.
Develop new business opportunities, send securities and mortgage referrals to other departments.
Perform customer profiling to determine future sales opportunities and identify profitable retail prospects for the investments departments.
Develop customer base through cross-selling products and servicing existing clients, develop new business through interaction with internal and external resources.

Finance service representative example responsibilities.

Manage correspondent services including but not limit to wire processing, coin and currency, ACH support and international payments.
Gain excellent customer service skills and achieve award for completing voluntary MSR exams.1
Manage client relationship by presenting solutions for customers state and unstate needs while cross-selling company products.
Maintain cleanliness and presentation of member service area and marketing information.
Originate and develop new business through effective profiling, relationship building, consultative customer service in a retail banking environment.
Count upon for accuracy and math skills.

Consumer banker vs finance service representative skills

Common consumer banker skills

Financial Services, 22%
Securities, 11%
Cash Management, 9%
Excellent Interpersonal, 7%
Bank Products, 5%
Product Knowledge, 4%

Common finance service representative skills

Financial Services, 15%
Patients, 8%
Team-Oriented Environment, 7%
Mutual Funds, 4%
Financial Products, 4%
Customer Service, 3%

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Consumer Banker
Consumer Banker vs Finance Service Representative

Updated January 8, 2025

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