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The differences between finance service representatives and 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 finance service representative and a banker. Additionally, a banker has an average salary of $44,463, which is higher than the $38,361 average annual salary of a finance service representative.
The top three skills for a finance service representative include financial services, patients and team-oriented environment. The most important skills for a banker are taking care, financial services, and securities.
| Finance Service Representative | Banker | |
| Yearly salary | $38,361 | $44,463 |
| Hourly rate | $18.44 | $21.38 |
| Growth rate | 10% | 10% |
| Number of jobs | 220,519 | 29,725 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 60% | Bachelor's Degree, 56% |
| Average age | 43 | 43 |
| Years of experience | 4 | 4 |
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.
A banker is primarily responsible for assisting clients with their banking needs, particularly when withdrawing, depositing, and paying. Aside from handling transactions, bankers are also mainly responsible for opening and closing accounts, processing requirements, verifying the validity of documentation, recommending services and other financial options to clients, and resolving inquiries and concerns. A banker may answer calls and correspondence, coordinate with other banking personnel, maintain accurate data, and discuss conditions to clients thoroughly. Furthermore, because a banker mainly works with clients, it is essential to attain customer satisfaction.
Finance service representatives and bankers have different pay scales, as shown below.
| Finance Service Representative | Banker | |
| Average salary | $38,361 | $44,463 |
| Salary range | Between $25,000 And $58,000 | Between $20,000 And $97,000 |
| Highest paying City | New York, NY | New York, NY |
| Highest paying state | New York | New York |
| Best paying company | Bloomberg | Citi |
| Best paying industry | Government | Finance |
There are a few differences between a finance service representative and a banker in terms of educational background:
| Finance Service Representative | Banker | |
| Most common degree | Bachelor's Degree, 60% | Bachelor's Degree, 56% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between finance service representatives' and bankers' demographics:
| Finance Service Representative | Banker | |
| Average age | 43 | 43 |
| Gender ratio | Male, 41.2% Female, 58.8% | Male, 46.3% Female, 53.7% |
| Race ratio | 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% | Black or African American, 5.5% Unknown, 4.1% Hispanic or Latino, 11.4% Asian, 12.3% White, 66.5% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 6% | 6% |