New accounts representative vs representative

The differences between new accounts representatives and representatives can be seen in a few details. Each job has different responsibilities and duties. It typically takes 6-12 months to become both a new accounts representative and a representative. Additionally, a new accounts representative has an average salary of $36,918, which is higher than the $36,023 average annual salary of a representative.

The top three skills for a new accounts representative include customer service, bank products and cross-sell. The most important skills for a representative are cleanliness, patients, and customer issues.

New accounts representative vs representative overview

	New Accounts Representative	Representative
Yearly salary	$36,918	$36,023
Hourly rate	$17.75	$17.32
Growth rate	-3%	-4%
Number of jobs	133,070	252,761
Job satisfaction	-	5
Most common degree	Bachelor's Degree, 51%	Bachelor's Degree, 53%
Average age	41	40
Years of experience	12	12

What does a new accounts representative do?

New accounts representatives are banking professionals who are responsible for the explanation of the available accounts. The accounts representatives explain different options for new accounts and interconnected services. They discuss any requirements, fees, or limits related to an account. It is their job to describe new account services to clients and assist them in the paperwork. They perform wire or electronic transfers for the funds coming from the other accounts. Also, they direct their clients to banking specialists for additional services.

What does a representative do?

Representatives are lawmakers who represent the people in a specific district. They run for office to represent their districts in their hometown or their current place of living. Representatives are usually charismatic and good communicators. These characteristics are especially important during campaign and election periods. Representatives should be able to capture the hearts of the voters through their planned projects and advocacies. They are then elected by their constituents. Upon election, representatives author bills that will eventually be passed into law should it be approved by the majority of the congress. They also vote on the passage of bills authored by other representatives. They also participate in discussions and debates regarding different bills, issues, and laws. Representatives are expected to vote according to their conscience and in consideration of the voice of their constituents.

New accounts representative vs representative salary

New accounts representatives and representatives have different pay scales, as shown below.

	New Accounts Representative	Representative
Average salary	$36,918	$36,023
Salary range	Between $28,000 And $47,000	Between $23,000 And $55,000
Highest paying City	San Mateo, CA	Washington, DC
Highest paying state	Hawaii	New York
Best paying company	DATCU	Google
Best paying industry	Finance	Transportation

Differences between new accounts representative and representative education

There are a few differences between a new accounts representative and a representative in terms of educational background:

	New Accounts Representative	Representative
Most common degree	Bachelor's Degree, 51%	Bachelor's Degree, 53%
Most common major	Business	Business
Most common college	-	-

New accounts representative vs representative demographics

Here are the differences between new accounts representatives' and representatives' demographics:

	New Accounts Representative	Representative
Average age	41	40
Gender ratio	Male, 26.6% Female, 73.4%	Male, 41.8% Female, 58.2%
Race ratio	Black or African American, 9.5% Unknown, 2.9% Hispanic or Latino, 22.0% Asian, 9.1% White, 55.7% American Indian and Alaska Native, 0.8%	Black or African American, 11.0% Unknown, 5.4% Hispanic or Latino, 20.9% Asian, 7.5% White, 54.4% American Indian and Alaska Native, 0.7%
LGBT Percentage	11%	7%

Differences between new accounts representative and representative duties and responsibilities

New accounts representative example responsibilities.

Gain excellent customer service skills and achieve award for completing voluntary MSR exams.1
Report tax information to the IRS.
Complete require BSA & OFAC training annually.
Identify potential high risks clients and investigate OFAC status.
Ensure adherence to IIROC, QI, AML, regulations and to mitigate legal and reputational risk.
Answer incoming calls on first ring; assist customers, complete customer request forms in AS400 system.

Representative example responsibilities.

Manage fitting rooms and recover the department, while providing exceptional customer service and offering rewards and POS options.
Manage physical portfolio with necessary derivatives to mitigate risk within company guidelines.
Conduct telephone sales and interviews, compile and enter information into database, manage documents and insure customer satisfaction.
Review EOB denials, appeals and/or rebilling as appropriate.
Certify of all requirements, policies, and procedures, including MSB.
Take inbound phone calls from member and providers explaining the EOB denial and payments

New accounts representative vs representative skills

Common new accounts representative skills

Customer Service, 15%
Bank Products, 8%
Cross-Sell, 6%
Financial Services, 6%
Credit Card, 5%
Loan Payments, 5%

Common representative skills

Cleanliness, 20%
Patients, 11%
Customer Issues, 10%
Customer Service, 10%
Data Entry, 6%
Outbound Calls, 3%

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New Accounts Representative
New Accounts Representative vs Representative

Updated January 8, 2025

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