Earnings for Tellers in the United States come in at around $11.74 per hour on average. Overall cash earnings of Tellers stretch from $20K near the bottom to $31K on the more lucrative end; these packages can sometimes encompass potential bonuses and profit sharing of almost $2K each, along with commissions approaching $2K in rare cases. The specific employer is the biggest factor affecting pay for this group, followed by geography and experience level. The majority of Tellers claim high levels of job satisfaction. Men are in the minority of survey respondents, with female Tellers making up 76 percent. 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 greater part and dental coverage is claimed by the larger part. The figures in this rundown are based on the results of 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
As Tellers transition into upper-level roles such as Banking Branch Manager, they may see a strong upturn in salary. Banking Branch Managers earn $52K on average 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 top-notch employers for Tellers in this area. Although salaries only range from $27K to just $35K, Citibank still offers the highest pay with a median paycheck of $30K. Other big spenders include Bank of America Corp. (BOFA), Capital One Financial Corp, and TD Bank, N.A., 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. Also approaching the lower end are Bbva Compass at $22K, U.S. Bank at $23K, and Regions Bank at $23K.
Popular Skills for Teller
Survey results imply that Tellers deploy a deep pool of skills on the job. Most notably, facility with Operations Management and Account Sales are correlated to pay that is significantly above average, leading to increases of 20 percent and 10 percent, respectively. At the other end of the pay range are skills like Customer Service Metrics, teller, 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.
Experience does not seem to be a strong driver of pay increase in this role. The median compensation for relatively untried workers is $24K; in the five-to-10 year group, it's higher at around $26K. Tellers bring in $27K after working for 10 to 20 years. Veterans who have acquired more than 20 years report a median income of $29K, which is generally higher than the pay reported by other tenure groups.
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 can also look forward to large paychecks in cities like New York (+14 percent), Los Angeles (+9 percent), Atlanta (+7 percent), and San Diego (+6 percent). With compensation 3 percent below the national average, Orlando is not known for hefty paychecks and actually represents the lowest-paying market.
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Key Stats for Teller
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