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The differences between relationship bankers and banking associates can be seen in a few details. Each job has different responsibilities and duties. Additionally, a banking associate has an average salary of $81,890, which is higher than the $37,091 average annual salary of a relationship banker.
The top three skills for a relationship banker include excellent interpersonal, financial services and work ethic. The most important skills for a banking associate are excellent interpersonal, strong customer service, and financial transactions.
| Relationship Banker | Banking Associate | |
| Yearly salary | $37,091 | $81,890 |
| Hourly rate | $17.83 | $39.37 |
| Growth rate | 10% | -12% |
| Number of jobs | 34,587 | 18,919 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 64% | Bachelor's Degree, 63% |
| Average age | 43 | 39 |
| Years of experience | 4 | - |
A relationship banker is responsible for providing financial advice by applying financial disciplines in the banking industry. Relationship bankers process financial transactions on their clients' bank accounts, generate account statements, and reiterate bank policies to support clients' financial goals and objectives. They also research the current financial industry, identify new bank services opportunities to gain more clients, and increase profits for the business. A relationship banker must have excellent communication and customer service skills, responding to the clients' inquiries and concerns regarding their bank accounts, and resolving complaints timely and efficiently.
A banking associate's role is to build positive relationships with clients by performing support tasks. Their responsibilities revolve around greeting clients, processing requests and documentation, gathering and verifying requirements, responding to inquiries and concerns, and offering other services and products to clients. They may also produce progress reports, financial statements, coordinate with team members, and liaise with external agencies. Furthermore, as a banking associate, it is essential to handle issues and complaints, all while adhering to the bank's policies and regulations.
Relationship bankers and banking associates have different pay scales, as shown below.
| Relationship Banker | Banking Associate | |
| Average salary | $37,091 | $81,890 |
| Salary range | Between $28,000 And $48,000 | Between $47,000 And $141,000 |
| Highest paying City | New York, NY | White Plains, NY |
| Highest paying state | New York | New York |
| Best paying company | Santander Bank | Citi |
| Best paying industry | Finance | Finance |
There are a few differences between a relationship banker and a banking associate in terms of educational background:
| Relationship Banker | Banking Associate | |
| Most common degree | Bachelor's Degree, 64% | Bachelor's Degree, 63% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | - |
Here are the differences between relationship bankers' and banking associates' demographics:
| Relationship Banker | Banking Associate | |
| Average age | 43 | 39 |
| Gender ratio | Male, 46.6% Female, 53.4% | Male, 41.8% Female, 58.2% |
| Race ratio | Black or African American, 5.4% Unknown, 4.1% Hispanic or Latino, 11.3% Asian, 12.2% White, 66.7% American Indian and Alaska Native, 0.2% | Black or African American, 10.1% Unknown, 3.5% Hispanic or Latino, 17.8% Asian, 7.4% White, 60.7% American Indian and Alaska Native, 0.6% |
| LGBT Percentage | 6% | 7% |