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The differences between personal bankers and universal bankers 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 universal banker takes usually requires 6-12 months. Additionally, a personal banker has an average salary of $37,639, which is higher than the $35,922 average annual salary of a universal banker.
The top three skills for a personal banker include customer relationships, cross-sell and customer satisfaction. The most important skills for a universal banker are customer relationships, cash handling, and financial services.
| Personal Banker | Universal Banker | |
| Yearly salary | $37,639 | $35,922 |
| Hourly rate | $18.10 | $17.27 |
| Growth rate | 10% | -3% |
| Number of jobs | 36,603 | 28,761 |
| Job satisfaction | 3 | 2 |
| Most common degree | Bachelor's Degree, 59% | Bachelor's Degree, 53% |
| 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.
A universal banker's role is to provide banking assistance to clients by performing a wide range of tasks, ensuring timeliness and customer satisfaction. Their responsibilities revolve around handling and processing accounts, accomplishing requests from clients, and addressing inquiries and complaints, responding to them promptly and efficiently. They must also manage cash drawers, generate referrals, and identify the clients' financial and banking needs. Furthermore, as a universal banker, it is crucial to ensure that all processes comply with the policies and regulations of the bank.
Personal bankers and universal bankers have different pay scales, as shown below.
| Personal Banker | Universal Banker | |
| Average salary | $37,639 | $35,922 |
| Salary range | Between $29,000 And $48,000 | Between $27,000 And $46,000 |
| Highest paying City | New York, NY | Urban Honolulu, HI |
| Highest paying state | New York | Hawaii |
| Best paying company | Northern Trust | Affinity Credit Union |
| Best paying industry | Finance | Finance |
There are a few differences between a personal banker and a universal banker in terms of educational background:
| Personal Banker | Universal Banker | |
| Most common degree | Bachelor's Degree, 59% | Bachelor's Degree, 53% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | - |
Here are the differences between personal bankers' and universal bankers' demographics:
| Personal Banker | Universal Banker | |
| Average age | 43 | 41 |
| Gender ratio | Male, 44.6% Female, 55.4% | Male, 35.1% Female, 64.9% |
| 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, 9.0% Unknown, 3.0% Hispanic or Latino, 20.7% Asian, 9.7% White, 56.7% American Indian and Alaska Native, 0.9% |
| LGBT Percentage | 6% | 11% |