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The differences between phone bankers and junior associates can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both a phone banker and a junior associate. Additionally, a junior associate has an average salary of $77,094, which is higher than the $34,532 average annual salary of a phone banker.
The top three skills for a phone banker include customer service, customer inquiries and compliance guidelines. The most important skills for a junior associate are powerpoint, litigation, and financial statements.
| Phone Banker | Junior Associate | |
| Yearly salary | $34,532 | $77,094 |
| Hourly rate | $16.60 | $37.06 |
| Growth rate | 10% | 10% |
| Number of jobs | 22,843 | 30,525 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 34% | Bachelor's Degree, 68% |
| Average age | 43 | 43 |
| Years of experience | 4 | 4 |
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.
A junior associate is responsible for assisting with the law firm's operations by evaluating cases, performing client counseling, and attending court trials. Junior associates draft agreements and review claims with strict adherence to regulatory policies and procedures. They also request additional documents as necessary and update the lawyers of any updates regarding the case. A junior associate must be well-versed with the law and determine resolution by following the due process and representing the clients during hearing sessions.
Phone bankers and junior associates have different pay scales, as shown below.
| Phone Banker | Junior Associate | |
| Average salary | $34,532 | $77,094 |
| Salary range | Between $27,000 And $43,000 | Between $44,000 And $132,000 |
| Highest paying City | Saint Paul, MN | New York, NY |
| Highest paying state | New York | New York |
| Best paying company | Advancial Federal Credit Union | Ropes & Gray |
| Best paying industry | Finance | Finance |
There are a few differences between a phone banker and a junior associate in terms of educational background:
| Phone Banker | Junior Associate | |
| Most common degree | Bachelor's Degree, 34% | Bachelor's Degree, 68% |
| Most common major | Business | Law |
| Most common college | Stanford University | University of Pennsylvania |
Here are the differences between phone bankers' and junior associates' demographics:
| Phone Banker | Junior Associate | |
| Average age | 43 | 43 |
| Gender ratio | Male, 36.1% Female, 63.9% | Male, 49.1% Female, 50.9% |
| Race ratio | 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% | Black or African American, 5.4% Unknown, 4.1% Hispanic or Latino, 11.2% Asian, 12.2% White, 66.9% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 6% | 6% |