Relationship banker vs finance service representative

The differences between relationship bankers and finance service representatives can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both a relationship banker and a finance service representative. Additionally, a finance service representative has an average salary of $38,361, 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 finance service representative are financial services, patients, and team-oriented environment.

Relationship banker vs finance service representative overview

	Relationship Banker	Finance Service Representative
Yearly salary	$37,091	$38,361
Hourly rate	$17.83	$18.44
Growth rate	10%	10%
Number of jobs	34,587	220,519
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 64%	Bachelor's Degree, 60%
Average age	43	43
Years of experience	4	4

What does a relationship banker do?

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.

What does a finance service representative do?

A financial service representative typically works for a bank or a similar establishment. One of their primary responsibilities is to reach out to clients and offer financial advice, services, or products such as insurance and credit cards. They can also set appointments, meet with clients to discuss benefits, and even gather applications. Furthermore, a financial service representative needs to have extensive knowledge of the products and services and be equipped with communication skills to build a rapport that will be essential in securing trust and sales.

Relationship banker vs finance service representative salary

Relationship bankers and finance service representatives have different pay scales, as shown below.

	Relationship Banker	Finance Service Representative
Average salary	$37,091	$38,361
Salary range	Between $28,000 And $48,000	Between $25,000 And $58,000
Highest paying City	New York, NY	New York, NY
Highest paying state	New York	New York
Best paying company	Santander Bank	Bloomberg
Best paying industry	Finance	Government

Differences between relationship banker and finance service representative education

There are a few differences between a relationship banker and a finance service representative in terms of educational background:

	Relationship Banker	Finance Service Representative
Most common degree	Bachelor's Degree, 64%	Bachelor's Degree, 60%
Most common major	Business	Business
Most common college	University of Pennsylvania	University of Pennsylvania

Relationship banker vs finance service representative demographics

Here are the differences between relationship bankers' and finance service representatives' demographics:

	Relationship Banker	Finance Service Representative
Average age	43	43
Gender ratio	Male, 46.6% Female, 53.4%	Male, 41.2% Female, 58.8%
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, 5.7% Unknown, 4.1% Hispanic or Latino, 11.9% Asian, 10.1% White, 67.9% American Indian and Alaska Native, 0.2%
LGBT Percentage	6%	6%

Differences between relationship banker and finance service representative duties and responsibilities

Relationship banker example responsibilities.

Attain NMLS number and Texas notary.
Perform teller duties, process daily reports, meet and exceed sales referral goals, manage ATM balancing and maintenance.
Manage a comprehensive portfolio of diversify securities and real estate holdings.
Cultivate new relationships through outside sales calls, effective profiling and telephone solicitation of company provide leads.
Register with the NMLS and keep skills, knowledge, and accreditations up-to-date.
Inform customers of procedures for applying for services such as ATM cards, direct deposit, and certificates of deposit.

Finance service representative example responsibilities.

Manage correspondent services including but not limit to wire processing, coin and currency, ACH support and international payments.
Gain excellent customer service skills and achieve award for completing voluntary MSR exams.1
Manage client relationship by presenting solutions for customers state and unstate needs while cross-selling company products.
Maintain cleanliness and presentation of member service area and marketing information.
Originate and develop new business through effective profiling, relationship building, consultative customer service in a retail banking environment.
Count upon for accuracy and math skills.

Relationship banker vs finance service representative skills

Common relationship banker skills

Excellent Interpersonal, 10%
Financial Services, 9%
Work Ethic, 8%
Cash Handling, 7%
Taking Care, 6%
Product Knowledge, 5%

Common finance service representative skills

Financial Services, 15%
Patients, 8%
Team-Oriented Environment, 7%
Mutual Funds, 4%
Financial Products, 4%
Customer Service, 3%

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Relationship Banker
Relationship Banker vs Finance Service Representative

Updated January 8, 2025

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