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The differences between personal bankers and banking associates can be seen in a few details. Each job has different responsibilities and duties. Additionally, a banking associate has an average salary of $81,890, which is higher than the $37,639 average annual salary of a personal banker.
The top three skills for a personal banker include customer relationships, cross-sell and customer satisfaction. The most important skills for a banking associate are excellent interpersonal, strong customer service, and financial transactions.
| Personal Banker | Banking Associate | |
| Yearly salary | $37,639 | $81,890 |
| Hourly rate | $18.10 | $39.37 |
| Growth rate | 10% | -12% |
| Number of jobs | 36,603 | 18,919 |
| Job satisfaction | 3 | - |
| Most common degree | Bachelor's Degree, 59% | Bachelor's Degree, 63% |
| Average age | 43 | 39 |
| Years of experience | 4 | - |
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.
A banking associate's role is to build positive relationships with clients by performing support tasks. Their responsibilities revolve around greeting clients, processing requests and documentation, gathering and verifying requirements, responding to inquiries and concerns, and offering other services and products to clients. They may also produce progress reports, financial statements, coordinate with team members, and liaise with external agencies. Furthermore, as a banking associate, it is essential to handle issues and complaints, all while adhering to the bank's policies and regulations.
Personal bankers and banking associates have different pay scales, as shown below.
| Personal Banker | Banking Associate | |
| Average salary | $37,639 | $81,890 |
| Salary range | Between $29,000 And $48,000 | Between $47,000 And $141,000 |
| Highest paying City | New York, NY | White Plains, NY |
| Highest paying state | New York | New York |
| Best paying company | Northern Trust | Citi |
| Best paying industry | Finance | Finance |
There are a few differences between a personal banker and a banking associate in terms of educational background:
| Personal Banker | Banking Associate | |
| Most common degree | Bachelor's Degree, 59% | Bachelor's Degree, 63% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | - |
Here are the differences between personal bankers' and banking associates' demographics:
| Personal Banker | Banking Associate | |
| Average age | 43 | 39 |
| Gender ratio | Male, 44.6% Female, 55.4% | Male, 41.8% Female, 58.2% |
| Race ratio | 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% | 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 | 6% | 7% |