Bank Teller Salary
Job Description for Bank Teller
Bank tellers hold one of the most visible positions at any bank or credit union. Whether it’s withdrawing funds or depositing them, at some point, each bank customer interacts with a teller; that means customer service skills are paramount in keeping the customers happy. The position also requires absolute accuracy, as being off on your “drawer” is not allowed.Read More...
The average day for a bank teller requires a wide variety of skills. The bank teller must have the ability to perform basic arithmetic; counting money can be a tedious task, but it is one of the most important in a bank. Besides customer service and math skills, a bank teller must be proficient with computers and inputting data; most banking-related tasks require constant and consistent record keeping. A bank teller will usually work alongside other bank tellers and staff, reporting the bank’s management staff. The primary focus of the bank teller is working the customer, so interactions with customers comprise most of the teller's day. Tellers are needed from the time the bank opens in the morning until close in the evening; some banks have tellers work long shifts, but most have shorter shifts to break up the work load among various tellers.
Bank tellers hold an entry-level position in the financial industry. Educational requirements usually include a high school diploma or GED, and the banks provide training and certifications based on company policies and regulations regarding tellers.
Bank Teller Tasks
- Ensure security of all transactions and of cash supply.
- Provide customers with information regarding personal and business accounts, as well products offered by the bank.
- Conduct financial transactions for customers, such as deposits and withdrawals.
Common Career Paths for Bank Teller
While Bank Tellers do not often become Registered Nurses, the job pays $56K per year on average. The most common next step for a Bank Teller is to become a Personal Banker or an Assistant Branch Manager of Banking. The former position pays an additional $11K per year on average, and the latter position pays $15K more per year.
Bank Teller Job Listings
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Popular Employer Salaries for Bank Teller
Well-known firms with a reputation for hiring numerous Bank Tellers include Wells Fargo Bank, Bank of America Corp. (BOFA), The PNC Financial Services Group, Inc., Regions Bank, and Chase Bank. Bank Tellers in search of the best pay head to Citibank, where the median salary rolls in at $30K. Although pay is top-notch overall, it does seem to be curbed at $41K, which isn't dramatically higher than the lower-end figure of $25K. Also paying near the top of the field are TD Bank, N.A. at $28K, Bank of America Corp. (BOFA) at $27K, and SunTrust Banks Inc., where Bank Tellers annually earn $25K.
Not only do salaries lack room to grow — pay ranges from $16K to just $25K — but IBC Bank offers the lowest pay in town to boot, with a median paycheck of $17K. The PNC Financial Services Group, Inc., Fifth Third Bancorp, and Federal Credit Union also rank near the bottom for pay, handing out $21K, $21K, and $22K-paychecks on average.
Popular Skills for Bank Teller
Bank Tellers seem to wield many skills on the job. Most notably, skills in Spanish Language, Sales, Banking, and Customer Relations are correlated to pay that is above average. Most people familiar with Cash Handling also know Banking.
Pay by Experience Level for Bank Teller
Median of all compensation (including tips, bonus, and overtime) by years of experience.
For Bank Tellers, level of experience appears to be a somewhat less important part of the salary calculation — more experience does not correlate to noticeably higher pay. Relatively untried employees who have less than five years' experience make $23K, but folks with five to 10 years under their belts enjoy an appreciably larger median of $26K. Bank Tellers bring in $27K after working for 10 to 20 years. People who have worked for more than 20 years report a median income of $28K, which is barely higher than the median for folks with 10 to 20 years of experience.
Pay Difference by Location
For those looking to make money, Bank Tellers in New York enjoy an exceptional pay rate, 12 percent above the national average. Bank Tellers will also find cushy salaries in Boston (+10 percent), Los Angeles (+8 percent), Orlando (+7 percent), and Chicago (+5 percent). With compensation 11 percent below the national average, Oklahoma City is not known for hefty paychecks and actually represents the lowest-paying market. A couple other locations with smaller-than-average paychecks include Indianapolis (10 percent lower) and Tulsa (6 percent lower).