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The differences between relationship bankers and merchants can be seen in a few details. Each job has different responsibilities and duties. Additionally, a merchant has an average salary of $74,999, 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 merchant are product development, gross margin, and market trends.
| Relationship Banker | Merchant | |
| Yearly salary | $37,091 | $74,999 |
| Hourly rate | $17.83 | $36.06 |
| Growth rate | 10% | - |
| Number of jobs | 34,587 | 15,395 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 64% | Bachelor's Degree, 57% |
| Average age | 43 | 41 |
| 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 merchant is responsible for selling goods and services for an organization to generate revenues by reaching out to existing and potential customers and discuss the products' features. Merchants must have extensive knowledge of the goods offered by the company to be able to respond to customers' inquiries and concerns accurately. They also maintain the adequacy of inventory for store orders, create purchase requests, and analyze sales performance. A merchant coordinates with the sales and marketing team to develop efficient promotional strategies and increase brand awareness on public platforms.
Relationship bankers and merchants have different pay scales, as shown below.
| Relationship Banker | Merchant | |
| Average salary | $37,091 | $74,999 |
| Salary range | Between $28,000 And $48,000 | Between $47,000 And $119,000 |
| Highest paying City | New York, NY | San Francisco, CA |
| Highest paying state | New York | California |
| Best paying company | Santander Bank | Levi Strauss & Co. |
| Best paying industry | Finance | Finance |
There are a few differences between a relationship banker and a merchant in terms of educational background:
| Relationship Banker | Merchant | |
| Most common degree | Bachelor's Degree, 64% | Bachelor's Degree, 57% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | Stanford University |
Here are the differences between relationship bankers' and merchants' demographics:
| Relationship Banker | Merchant | |
| Average age | 43 | 41 |
| Gender ratio | Male, 46.6% Female, 53.4% | Male, 42.1% Female, 57.9% |
| 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, 8.5% Unknown, 5.2% Hispanic or Latino, 23.3% Asian, 7.4% White, 55.1% American Indian and Alaska Native, 0.6% |
| LGBT Percentage | 6% | 7% |