Bank Officer Salary
An average Bank Officer in the United States can expect to take home roughly $48K annually. Medical benefits are awarded to most, and a strong majority earn dental coverage. Men are slightly outnumbered by their female counterparts who answered the questionnaire, who make up a slight majority at 53 percent. Work is enjoyable for Bank Officers, who typically claim high levels of job satisfaction. The information for this snapshot was generated by responses to the PayScale salary survey.
Job Description for Bank Officer
Bank officers are in charge of daily bank operations and conducting interactions with customers to increase overall business satisfaction. Most of the time, bank officers work independently to sell bank products to existing and prospective customers. They help perform regular audits with other officers, assist the bank manager with customer-calling initiatives, help with employee coaching sessions, and assist with training duties. They also open a variety of accounts for clients, as well as participate in seminars that will increase their customer service skills. Additional tasks that bank officers perform include paying and receiving money transfers on behalf of clients, ensuring compliance of operational regulations, and following strict privacy rules. Bank officers also receive loan applications and submit them for further review, as well as generate new business through direct mailings, business calls, and telemarketing. Additionally, they complete necessary documentation that other financial institutions require for foreign transfers. One of their main tools include a personal computer that access client information, financial balances, and make adjustments to customer accounts.Read More...
A high school diploma or equivalent is required for this position, although a bachelor's degree in finance, business, or similar field is generally preferred. Bank officers must work well in a team environment to achieve all the institutional goals. They should also have strong communication skills and interact in a professional manner with all customers. They should be proficient with basic office software to make proposals and be able to process documents and keep detailed records of financial transactions.
Bank Officer Tasks
- Develop, implement, and manage all bank administrative and sales orientated plans and goals.
- Promotes business development and customer service standards.
- Drives sales and loan quotas.
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Pay by Experience Level for Bank Officer
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Relatively untried employees who have less than five years' experience make $43K, but folks with five to 10 years under their belts enjoy an appreciably larger median of $49K. Bank Officers bring in $48K after working for 10 to 20 years. Bank Officers who have spent more than 20 years on the job report earning a significantly higher median of $52K.