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The differences between finance service specialists 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 specialist and a banker. Additionally, a banker has an average salary of $44,463, which is higher than the $40,415 average annual salary of a finance service specialist.
The top three skills for a finance service specialist include excellent interpersonal, mutual funds and customer service. The most important skills for a banker are taking care, financial services, and securities.
| Finance Service Specialist | Banker | |
| Yearly salary | $40,415 | $44,463 |
| Hourly rate | $19.43 | $21.38 |
| Growth rate | 10% | 10% |
| Number of jobs | 131,509 | 29,725 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 61% | Bachelor's Degree, 56% |
| Average age | 43 | 43 |
| Years of experience | 4 | 4 |
A financial service specialist is responsible for determining the clients' financial needs by assessing their account profiles and financial performance. Financial service specialists sell insurance services and other financial instruments based on clients' specifications and risk appetite. They also review stock trends and market stability to create financial forecasting and modify investment plans for the clients. A financial service specialist must have excellent communication and analytical skills, especially in discussing options to the clients to achieve their long-term goals and objectives.
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 specialists and bankers have different pay scales, as shown below.
| Finance Service Specialist | Banker | |
| Average salary | $40,415 | $44,463 |
| Salary range | Between $27,000 And $60,000 | 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 | Cravath | Citi |
| Best paying industry | Real Estate | Finance |
There are a few differences between a finance service specialist and a banker in terms of educational background:
| Finance Service Specialist | Banker | |
| Most common degree | Bachelor's Degree, 61% | 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 specialists' and bankers' demographics:
| Finance Service Specialist | Banker | |
| Average age | 43 | 43 |
| Gender ratio | Male, 36.4% Female, 63.6% | Male, 46.3% Female, 53.7% |
| Race ratio | Black or African American, 5.9% Unknown, 4.2% Hispanic or Latino, 12.5% Asian, 10.1% White, 67.2% 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% |