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The differences between retail bankers and new accounts specialists can be seen in a few details. Each job has different responsibilities and duties. It typically takes 6-12 months to become both a retail banker and a new accounts specialist. Additionally, a retail banker has an average salary of $35,292, which is higher than the $35,186 average annual salary of a new accounts specialist.
The top three skills for a retail banker include excellent organizational, taking care and prioritize workload. The most important skills for a new accounts specialist are customer service, customer satisfaction, and real estate.
| Retail Banker | New Accounts Specialist | |
| Yearly salary | $35,292 | $35,186 |
| Hourly rate | $16.97 | $16.92 |
| Growth rate | -3% | -3% |
| Number of jobs | 85,669 | 42,651 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 43% | Bachelor's Degree, 56% |
| Average age | 41 | 41 |
| Years of experience | 12 | 12 |
A retail banker is responsible for coordinating with retail clients in opening and closing accounts, updating account statements, and selling new financial services and business opportunities. Retail bankers help clients in managing their finances by recommending investment options according to their needs and objectives. They also handle the clients' banking discrepancies and resolve disputes by evaluating their account statements and identify resolutions immediately. A retail banker must have excellent analytical skills, as well as strong knowledge of the banking industry and practices to provide the highest quality services for the clients.
A new accounts specialist is in charge of understanding the needs and providing services to new clients, ensuring efficiency and client satisfaction. They are responsible for conducting market research and analysis to find new opportunities, gathering and analyzing data to assess procedures and optimize operations, preparing and processing client reports, answering inquiries, and resolving issues and concerns promptly and efficiently. Moreover, a new accounts specialist must maintain an active communication line with clients to provide them with optimal services, building positive relationships along the way.
Retail bankers and new accounts specialists have different pay scales, as shown below.
| Retail Banker | New Accounts Specialist | |
| Average salary | $35,292 | $35,186 |
| Salary range | Between $26,000 And $47,000 | Between $25,000 And $47,000 |
| Highest paying City | - | - |
| Highest paying state | - | - |
| Best paying company | - | - |
| Best paying industry | - | - |
There are a few differences between a retail banker and a new accounts specialist in terms of educational background:
| Retail Banker | New Accounts Specialist | |
| Most common degree | Bachelor's Degree, 43% | Bachelor's Degree, 56% |
| Most common major | Business | Business |
| Most common college | - | - |
Here are the differences between retail bankers' and new accounts specialists' demographics:
| Retail Banker | New Accounts Specialist | |
| Average age | 41 | 41 |
| Gender ratio | Male, 30.7% Female, 69.3% | Male, 34.8% Female, 65.2% |
| Race ratio | Black or African American, 10.5% Unknown, 2.9% Hispanic or Latino, 20.0% Asian, 9.5% White, 56.2% American Indian and Alaska Native, 0.9% | Black or African American, 9.9% Unknown, 2.9% Hispanic or Latino, 21.8% Asian, 9.3% White, 55.4% American Indian and Alaska Native, 0.8% |
| LGBT Percentage | 11% | 11% |