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The differences between personal bankers and new accounts representatives can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 2-4 years to become a personal banker, becoming a new accounts representative takes usually requires 6-12 months. Additionally, a personal banker has an average salary of $37,639, which is higher than the $36,918 average annual salary of a new accounts representative.
The top three skills for a personal banker include customer relationships, cross-sell and customer satisfaction. The most important skills for a new accounts representative are customer service, bank products, and cross-sell.
| Personal Banker | New Accounts Representative | |
| Yearly salary | $37,639 | $36,918 |
| Hourly rate | $18.10 | $17.75 |
| Growth rate | 10% | -3% |
| Number of jobs | 36,603 | 133,070 |
| Job satisfaction | 3 | - |
| Most common degree | Bachelor's Degree, 59% | Bachelor's Degree, 51% |
| Average age | 43 | 41 |
| Years of experience | 4 | 12 |
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.
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.
Personal bankers and new accounts representatives have different pay scales, as shown below.
| Personal Banker | New Accounts Representative | |
| Average salary | $37,639 | $36,918 |
| Salary range | Between $29,000 And $48,000 | Between $28,000 And $47,000 |
| Highest paying City | New York, NY | San Mateo, CA |
| Highest paying state | New York | Hawaii |
| Best paying company | Northern Trust | DATCU |
| Best paying industry | Finance | Finance |
There are a few differences between a personal banker and a new accounts representative in terms of educational background:
| Personal Banker | New Accounts Representative | |
| Most common degree | Bachelor's Degree, 59% | Bachelor's Degree, 51% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | - |
Here are the differences between personal bankers' and new accounts representatives' demographics:
| Personal Banker | New Accounts Representative | |
| Average age | 43 | 41 |
| Gender ratio | Male, 44.6% Female, 55.4% | Male, 26.6% Female, 73.4% |
| 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, 9.5% Unknown, 2.9% Hispanic or Latino, 22.0% Asian, 9.1% White, 55.7% American Indian and Alaska Native, 0.8% |
| LGBT Percentage | 6% | 11% |