Assistant Bank Manager Salary
Median pay for Assistant Bank Managers in the United States comes out to approximately $43K per year, but employers in New York pay the most, the average compensation in that city is around $61K. Assistant Bank Managers will also find cushy salaries in Los Angeles (+17 percent) and Boston (+11 percent). The data for this synopsis comes from respondents who took the PayScale salary survey.
Job Description for Assistant Bank Manager
The assistant bank manager helps ensure that their institution runs smoothly on a day-to-day basis. This position requires the ability to communicate effectively, especially in strengthening or establishing relationships with current and prospective customers; because a large variety of customers use banks, the assistant bank manager must be knowledgeable about their institution's offerings.Read More...
The assistant bank manager must be able to manage the bank's employees as well. This typically involves involve training, directing, and evaluating performance, in addition to planning and directing day-to-day staff activities. Other responsibilities include planning and facilitating staff meetings, assigning performance goals to employees, and occasionally providing final decisions on difficult client issues. Although sometimes the assistant bank manager reports to the bank manager during their shift, the assistant manager may be the highest-ranking employee available to staff (especially when the bank manager is unavailable or out of the office). The assistant bank manager works indoors during regular business hours.
The assistant bank manager position usually requires at least a high school diploma or equivalent, although some employers prefer postsecondary education as well. Relevant experience in banking, retail, or managerial experience is often preferred. An assistant bank manager must also be proficient at math and have basic computer skills.
Assistant Bank Manager Tasks
- Monitor branch financial activities, performing audits, reviewing reports, and managing cash levels.
- Work to gain and retain customers by maintaining high standards of customer service.
- Hire, train, and supervise customer service representatives and financial service managers.
- Enforce bank regulations and oversee bank security measures.
Assistant Branch Manager, Banking Job Listings
Search for more jobs:
Popular Employer Salaries for Assistant Bank Manager
Dominating the field, Bank of America Corp. (BOFA), Chase Bank, TD Bank, N.A., TD Banknorth, and U.S. Bank are top firms with a reputation for hiring a great number of Assistant Bank Managers. Assistant Bank Managers seeking a sizable paycheck can earn the most at TD Banknorth, where the average salary comes to $49K. Other employers shelling out big bucks include U.S. Bank, Bank of America Corp. (BOFA), and Chase Bank, where Assistant Bank Managers typically earn around $49K, $48K, or $46K, respectively.
Others at the bottom of the scale for this job include New York Community Bank (NYCB), TD Bank, N.A., and Chase Bank, all paying $46K.
Popular Skills for Assistant Bank Manager
Survey results suggest that Assistant Bank Managers put a wide range of professional skills to use. Most notably, facility with Sales Management and People Management are correlated to pay that is significantly above average, leading to increases of 21 percent and 3 percent, respectively. Those familiar with Customer Service also tend to know Sales.
Pay by Experience Level for Assistant Bank Manager
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Assistant Bank Managers with a lot of experience do not necessarily enjoy more money. Relatively untried employees who have less than five years' experience make $39K, but folks with five to 10 years under their belts enjoy an appreciably larger median of $43K. People with 10 to 20 years of experience make an average of about $45K in this role. Survey participants who have spent more than 20 years on the job report a predictably higher median income of $49K, demonstrating that compensation is roughly commensurate with experience in the end.