Foreign exchange clerk vs banking associate

The differences between foreign exchange clerks and banking associates can be seen in a few details. Each job has different responsibilities and duties. Additionally, a foreign exchange clerk has an average salary of $92,420, which is higher than the $81,890 average annual salary of a banking associate.

The top three skills for a foreign exchange clerk include foreign exchange transactions, foreign currency and currency positions. The most important skills for a banking associate are excellent interpersonal, strong customer service, and financial transactions.

Foreign exchange clerk vs banking associate overview

	Foreign Exchange Clerk	Banking Associate
Yearly salary	$92,420	$81,890
Hourly rate	$44.43	$39.37
Growth rate	-12%	-12%
Number of jobs	66,986	18,919
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 56%	Bachelor's Degree, 63%
Average age	39	39
Years of experience	-	-

Foreign exchange clerk vs banking associate salary

Foreign exchange clerks and banking associates have different pay scales, as shown below.

	Foreign Exchange Clerk	Banking Associate
Average salary	$92,420	$81,890
Salary range	Between $43,000 And $195,000	Between $47,000 And $141,000
Highest paying City	-	White Plains, NY
Highest paying state	-	New York
Best paying company	-	Citi
Best paying industry	-	Finance

Differences between foreign exchange clerk and banking associate education

There are a few differences between a foreign exchange clerk and a banking associate in terms of educational background:

	Foreign Exchange Clerk	Banking Associate
Most common degree	Bachelor's Degree, 56%	Bachelor's Degree, 63%
Most common major	Business	Business
Most common college	-	-

Foreign exchange clerk vs banking associate demographics

Here are the differences between foreign exchange clerks' and banking associates' demographics:

	Foreign Exchange Clerk	Banking Associate
Average age	39	39
Gender ratio	Male, 41.3% Female, 58.7%	Male, 41.8% Female, 58.2%
Race ratio	Black or African American, 10.1% Unknown, 3.2% Hispanic or Latino, 20.5% Asian, 7.4% White, 58.2% American Indian and Alaska Native, 0.6%	Black or African American, 10.1% Unknown, 3.5% Hispanic or Latino, 17.8% Asian, 7.4% White, 60.7% American Indian and Alaska Native, 0.6%
LGBT Percentage	7%	7%

Differences between foreign exchange clerk and banking associate duties and responsibilities

Foreign exchange clerk example responsibilities.

Generate price discovery and execute desired positions across various products including volatility views through straddles and variance swaps.
Generate price discovery and execute desired positions across various products including volatility views through straddles and variance swaps.

Banking associate example responsibilities.

Develop and maintain relationships with business partners to increase cross-sell opportunities and achieve sales goals.
Develop working relationships with clients by providing exceptional customer service while utilizing a focuse cross-sell strategy.
Follow up with customers regarding KYC and other account relate updates.
Analyze each movement in full detail while meeting all SLA's.
Prepare UCC's for filing at the county and state level.
Monitor multiple cases while keeping track of SLA's and B2B communications.

Foreign exchange clerk vs banking associate skills

Common foreign exchange clerk skills

Foreign Exchange Transactions, 57%
Foreign Currency, 24%
Currency Positions, 11%
Check Accuracy, 9%

Common banking associate skills

Excellent Interpersonal, 41%
Strong Customer Service, 29%
Financial Transactions, 15%
Financial Services, 1%
PowerPoint, 1%
Financial Solutions, 1%

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Foreign Exchange Clerk
Foreign Exchange Clerk vs Banking Associate

Updated January 8, 2025

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