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The differences between personal bankers and finance service representatives can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both a personal banker and a finance service representative. Additionally, a finance service representative has an average salary of $38,361, 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 finance service representative are financial services, patients, and team-oriented environment.
| Personal Banker | Finance Service Representative | |
| Yearly salary | $37,639 | $38,361 |
| Hourly rate | $18.10 | $18.44 |
| Growth rate | 10% | 10% |
| Number of jobs | 36,603 | 220,519 |
| Job satisfaction | 3 | - |
| Most common degree | Bachelor's Degree, 59% | Bachelor's Degree, 60% |
| Average age | 43 | 43 |
| Years of experience | 4 | 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 financial service representative typically works for a bank or a similar establishment. One of their primary responsibilities is to reach out to clients and offer financial advice, services, or products such as insurance and credit cards. They can also set appointments, meet with clients to discuss benefits, and even gather applications. Furthermore, a financial service representative needs to have extensive knowledge of the products and services and be equipped with communication skills to build a rapport that will be essential in securing trust and sales.
Personal bankers and finance service representatives have different pay scales, as shown below.
| Personal Banker | Finance Service Representative | |
| Average salary | $37,639 | $38,361 |
| Salary range | Between $29,000 And $48,000 | Between $25,000 And $58,000 |
| Highest paying City | New York, NY | New York, NY |
| Highest paying state | New York | New York |
| Best paying company | Northern Trust | Bloomberg |
| Best paying industry | Finance | Government |
There are a few differences between a personal banker and a finance service representative in terms of educational background:
| Personal Banker | Finance Service Representative | |
| Most common degree | Bachelor's Degree, 59% | Bachelor's Degree, 60% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between personal bankers' and finance service representatives' demographics:
| Personal Banker | Finance Service Representative | |
| Average age | 43 | 43 |
| Gender ratio | Male, 44.6% Female, 55.4% | Male, 41.2% Female, 58.8% |
| 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, 5.7% Unknown, 4.1% Hispanic or Latino, 11.9% Asian, 10.1% White, 67.9% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 6% | 6% |