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The differences between wealth management advisors and bank advisors can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both a wealth management advisor and a bank advisor. Additionally, a wealth management advisor has an average salary of $91,605, which is higher than the $90,014 average annual salary of a bank advisor.
The top three skills for a wealth management advisor include customer service, insurance products and securities. The most important skills for a bank advisor are financial services, CRM, and client relationships.
| Wealth Management Advisor | Bank Advisor | |
| Yearly salary | $91,605 | $90,014 |
| Hourly rate | $44.04 | $43.28 |
| Growth rate | 15% | 15% |
| Number of jobs | 127,946 | 49,437 |
| Job satisfaction | 4 | - |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 64% |
| Average age | 45 | 45 |
| Years of experience | 4 | 4 |
Wealth management advisors and bank advisors have different pay scales, as shown below.
| Wealth Management Advisor | Bank Advisor | |
| Average salary | $91,605 | $90,014 |
| Salary range | Between $49,000 And $168,000 | Between $56,000 And $143,000 |
| Highest paying City | New York, NY | - |
| Highest paying state | Massachusetts | - |
| Best paying company | Capital Group | - |
| Best paying industry | Finance | - |
There are a few differences between a wealth management advisor and a bank advisor in terms of educational background:
| Wealth Management Advisor | Bank Advisor | |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 64% |
| Most common major | Business | Business |
| Most common college | University of Minnesota - Twin Cities | University of Pennsylvania |
Here are the differences between wealth management advisors' and bank advisors' demographics:
| Wealth Management Advisor | Bank Advisor | |
| Average age | 45 | 45 |
| Gender ratio | Male, 69.1% Female, 30.9% | Male, 61.3% Female, 38.7% |
| Race ratio | Black or African American, 5.6% Unknown, 4.4% Hispanic or Latino, 9.4% Asian, 8.3% White, 72.2% American Indian and Alaska Native, 0.1% | Black or African American, 5.6% Unknown, 4.4% Hispanic or Latino, 9.5% Asian, 8.3% White, 72.1% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 5% | 5% |