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The differences between merchants and consumer bankers can be seen in a few details. Each job has different responsibilities and duties. Additionally, a merchant has an average salary of $74,999, which is higher than the $39,462 average annual salary of a consumer banker.
The top three skills for a merchant include product development, gross margin and market trends. The most important skills for a consumer banker are financial services, securities, and cash management.
| Merchant | Consumer Banker | |
| Yearly salary | $74,999 | $39,462 |
| Hourly rate | $36.06 | $18.97 |
| Growth rate | - | 10% |
| Number of jobs | 15,395 | 24,716 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 57% | Bachelor's Degree, 59% |
| Average age | 41 | 43 |
| Years of experience | - | 4 |
A merchant is responsible for selling goods and services for an organization to generate revenues by reaching out to existing and potential customers and discuss the products' features. Merchants must have extensive knowledge of the goods offered by the company to be able to respond to customers' inquiries and concerns accurately. They also maintain the adequacy of inventory for store orders, create purchase requests, and analyze sales performance. A merchant coordinates with the sales and marketing team to develop efficient promotional strategies and increase brand awareness on public platforms.
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.
Merchants and consumer bankers have different pay scales, as shown below.
| Merchant | Consumer Banker | |
| Average salary | $74,999 | $39,462 |
| Salary range | Between $47,000 And $119,000 | Between $27,000 And $56,000 |
| Highest paying City | San Francisco, CA | - |
| Highest paying state | California | - |
| Best paying company | Levi Strauss & Co. | - |
| Best paying industry | Finance | - |
There are a few differences between a merchant and a consumer banker in terms of educational background:
| Merchant | Consumer Banker | |
| Most common degree | Bachelor's Degree, 57% | Bachelor's Degree, 59% |
| Most common major | Business | Business |
| Most common college | Stanford University | University of Pennsylvania |
Here are the differences between merchants' and consumer bankers' demographics:
| Merchant | Consumer Banker | |
| Average age | 41 | 43 |
| Gender ratio | Male, 42.1% Female, 57.9% | Male, 42.9% Female, 57.1% |
| Race ratio | Black or African American, 8.5% Unknown, 5.2% Hispanic or Latino, 23.3% Asian, 7.4% White, 55.1% American Indian and Alaska Native, 0.6% | 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% |
| LGBT Percentage | 7% | 6% |