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The differences between personal bankers and phone bankers 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 phone banker. Additionally, a personal banker has an average salary of $37,639, which is higher than the $34,532 average annual salary of a phone banker.
The top three skills for a personal banker include customer relationships, cross-sell and customer satisfaction. The most important skills for a phone banker are customer service, customer inquiries, and compliance guidelines.
| Personal Banker | Phone Banker | |
| Yearly salary | $37,639 | $34,532 |
| Hourly rate | $18.10 | $16.60 |
| Growth rate | 10% | 10% |
| Number of jobs | 36,603 | 22,843 |
| Job satisfaction | 3 | - |
| Most common degree | Bachelor's Degree, 59% | Bachelor's Degree, 34% |
| 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.
As the name entails, phone bankers work for banks, financial institutions, or even at call centers whose primary job is to assist banking customers' needs and inquiries via telephone. Their duties and responsibilities may include handling concerns about bank transactions, keeping customers informed of bank policies and procedures, and processing financial applications. They also help maintain customer retention and satisfaction, participating in marketing campaigns, sales development activities, and referral programs. Phone bankers may do some administrative tasks as needed.
Personal bankers and phone bankers have different pay scales, as shown below.
| Personal Banker | Phone Banker | |
| Average salary | $37,639 | $34,532 |
| Salary range | Between $29,000 And $48,000 | Between $27,000 And $43,000 |
| Highest paying City | New York, NY | Saint Paul, MN |
| Highest paying state | New York | New York |
| Best paying company | Northern Trust | Advancial Federal Credit Union |
| Best paying industry | Finance | Finance |
There are a few differences between a personal banker and a phone banker in terms of educational background:
| Personal Banker | Phone Banker | |
| Most common degree | Bachelor's Degree, 59% | Bachelor's Degree, 34% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | Stanford University |
Here are the differences between personal bankers' and phone bankers' demographics:
| Personal Banker | Phone Banker | |
| Average age | 43 | 43 |
| Gender ratio | Male, 44.6% Female, 55.4% | Male, 36.1% Female, 63.9% |
| 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, 5.8% Unknown, 4.1% Hispanic or Latino, 12.2% Asian, 10.8% White, 66.8% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 6% | 6% |