Explore jobs
Find specific jobs
Explore careers
Explore professions
Best companies
Explore companies
The differences between merchants and personal 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 $37,639 average annual salary of a personal banker.
The top three skills for a merchant include product development, gross margin and market trends. The most important skills for a personal banker are customer relationships, cross-sell, and customer satisfaction.
| Merchant | Personal Banker | |
| Yearly salary | $74,999 | $37,639 |
| Hourly rate | $36.06 | $18.10 |
| Growth rate | - | 10% |
| Number of jobs | 15,395 | 36,603 |
| Job satisfaction | - | 3 |
| 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 personal banker is responsible for managing the customers' financial records and assisting them in various banking transactions. Personal bankers' duties also include handling customers' inquiries for financial plans, understanding the banking and financial industry principles, processing applications, verifying account details, and offering bank products based on the customers' needs. A personal banker must have excellent customer service and communication skills, providing the best options for the customers, and helping them achieve their financial goals.
Merchants and personal bankers have different pay scales, as shown below.
| Merchant | Personal Banker | |
| Average salary | $74,999 | $37,639 |
| Salary range | Between $47,000 And $119,000 | Between $29,000 And $48,000 |
| Highest paying City | San Francisco, CA | New York, NY |
| Highest paying state | California | New York |
| Best paying company | Levi Strauss & Co. | Northern Trust |
| Best paying industry | Finance | Finance |
There are a few differences between a merchant and a personal banker in terms of educational background:
| Merchant | Personal 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 personal bankers' demographics:
| Merchant | Personal Banker | |
| Average age | 41 | 43 |
| Gender ratio | Male, 42.1% Female, 57.9% | Male, 44.6% Female, 55.4% |
| 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, 5.4% Unknown, 4.1% Hispanic or Latino, 11.2% Asian, 12.2% White, 66.8% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 7% | 6% |