Earnings for Tellers in the United States come in at around $11.67 per hour on average. The range in cash compensation to Tellers (largely between $20K and $31K) includes potential earnings of $2K from bonuses, $3K from profit sharing, and commissions of $2K in exceptional cases. This group's pay is mainly influenced by the particular firm, followed by years of experience and geographic location. Health benefits are not enjoyed by everyone in this line of work, and about a third lack any coverage at all. Medical benefits are reported by the larger part and dental coverage is claimed by more than half. Female Tellers make up most of the survey respondents at 76 percent. Work is enjoyable for Tellers, who typically claim high levels of job satisfaction. This report is based on answers to PayScale's salary questionnaire.
Job Description for Teller
A teller interacts with bank customers in tasks such as processing account transactions, making individualized banking recommendations, issuing money orders, and maintaining precise monetary balances. Tellers' responsibilities vary based on the bank's size and policies. These positions require a high level of customer interaction, as they serve as the most frequent interpersonal connection with customers. Tellers may also interact with customers by telephone.Read More...
Most tellers work from a designated station, but they may handle tasks in other spaces specific to new account creation and atypical transactions. Tellers may be required to stand for extended periods and are usually situated indoors. Although most interaction occurs with customers, tellers are expected to implement policies and changes stated by managers. They may have periodic meetings with other tellers and management to discuss practices and performance. A professional relationship with all banking staff is necessary. Typical hours range from part- to full-time and are most often within banking hours. In some cases, tellers may be asked to work unusual hours or weekends.
Educational requirements for teller positions most often include a high school degree or equivalent. Some positions may require relevant experience, either as a teller or in another customer-service position. A history of accurately handling monies and other documents is very beneficial to those seeking a teller position. In addition, knowledge of computers and other office equipment is helpful.
- Conduct financial transactions for customers, such as deposits and withdrawals.
- Provide customers with information regarding personal and business accounts, as well products offered by the bank.
- Ensure security of all transactions and of cash supply.
Common Career Paths for Teller
Tellers' salaries may rise greatly for those who assume a higher-end position such as a Banking Branch Manager. The average Banking Branch Manager brings home $52K per year. As Tellers progress in their field, many go on to become Bank Tellers. In fact, this transition is more common than anything else, and median pay for the role is $22K. Another common career choice for Tellers is to move into a Personal Banker role — this promotion usually pays $35K.
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Popular Employer Salaries for Teller
Wells Fargo Bank, Bank of America Corp. (BOFA), Chase Bank, The PNC Financial Services Group, Inc., and U.S. Bank are some prominent firms with considerable interest in employing a large team of Tellers. Although the highest salaries can be found at Citibank where median pay is $30K, there is little variation in compensation; paychecks are spread only between $26K and $35K. Other big spenders include Bank of America Corp. (BOFA), TD Bank, N.A., and Capital One Financial Corp, top-paying firms where Tellers see paychecks nearing $28K, $28K, or $27K.
The lowest salaries can be found at The PNC Financial Services Group, Inc. — median pay is $21K — and there is little variation in compensation, with paychecks starting at $19K and only reaching $27K. A few other companies with smaller-than-average paychecks include Bbva Compass ($22K), Regions Bank ($23K), and U.S. Bank ($23K).
Popular Skills for Teller
Survey takers working as Tellers report using a large range of professional skills. Most notably, skills in Operations Management, Account Sales, Customer Relationship Management, and Cash Flow Management are correlated to pay that is above average. Skills that are correlated to lower pay, on the other hand, include Oral / Verbal Communication and Bilingual. Most people skilled in Cash Handling are similarly competent in Banking.
Pay by Experience Level for Teller
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Tellers with more experience do not necessarily bring home bigger paychecks. In fact, experience in this field tends to impact compensation minimally. Average salaries for inexperienced employees average out to around $24K, but folks who have five to 10 years of experience earn a higher median of $26K. Tellers see a median salary of $27K after reaching one to two decades on the job. Ultimately, more time spent in the workforce does seem to translate to bigger paychecks; seasoned veterans with more than 20 years of experience report a median income of $30K.
Pay Difference by Location
With a pay rate for Tellers that is 18 percent greater than the national average, San Francisco offers a comfortable salary for those in this profession. Tellers will also find cushy salaries in New York (+13 percent), Seattle (+12 percent), Los Angeles (+9 percent), and Atlanta (+8 percent). Falling short of the national average by 3 percent, the area with the worst salaries is Houston.
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Key Stats for Teller
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