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The differences between universal bankers and retail bankers can be seen in a few details. Each job has different responsibilities and duties. It typically takes 6-12 months to become both a universal banker and a retail banker. Additionally, a universal banker has an average salary of $35,922, which is higher than the $35,292 average annual salary of a retail banker.
The top three skills for a universal banker include customer relationships, cash handling and financial services. The most important skills for a retail banker are excellent organizational, taking care, and prioritize workload.
| Universal Banker | Retail Banker | |
| Yearly salary | $35,922 | $35,292 |
| Hourly rate | $17.27 | $16.97 |
| Growth rate | -3% | -3% |
| Number of jobs | 28,761 | 85,669 |
| Job satisfaction | 2 | - |
| Most common degree | Bachelor's Degree, 53% | Bachelor's Degree, 43% |
| Average age | 41 | 41 |
| Years of experience | 12 | 12 |
A universal banker's role is to provide banking assistance to clients by performing a wide range of tasks, ensuring timeliness and customer satisfaction. Their responsibilities revolve around handling and processing accounts, accomplishing requests from clients, and addressing inquiries and complaints, responding to them promptly and efficiently. They must also manage cash drawers, generate referrals, and identify the clients' financial and banking needs. Furthermore, as a universal banker, it is crucial to ensure that all processes comply with the policies and regulations of the bank.
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.
Universal bankers and retail bankers have different pay scales, as shown below.
| Universal Banker | Retail Banker | |
| Average salary | $35,922 | $35,292 |
| Salary range | Between $27,000 And $46,000 | Between $26,000 And $47,000 |
| Highest paying City | Urban Honolulu, HI | - |
| Highest paying state | Hawaii | - |
| Best paying company | Affinity Credit Union | - |
| Best paying industry | Finance | - |
There are a few differences between a universal banker and a retail banker in terms of educational background:
| Universal Banker | Retail Banker | |
| Most common degree | Bachelor's Degree, 53% | Bachelor's Degree, 43% |
| Most common major | Business | Business |
| Most common college | - | - |
Here are the differences between universal bankers' and retail bankers' demographics:
| Universal Banker | Retail Banker | |
| Average age | 41 | 41 |
| Gender ratio | Male, 35.1% Female, 64.9% | Male, 30.7% Female, 69.3% |
| Race ratio | Black or African American, 9.0% Unknown, 3.0% Hispanic or Latino, 20.7% Asian, 9.7% White, 56.7% American Indian and Alaska Native, 0.9% | 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% |
| LGBT Percentage | 11% | 11% |