Last Updated: May 2nd, 2022 by
So you want to be a bank teller? You’ve dreamed about the luxuries of this desk job, and you are ready to take the industry by storm. However, one of the most essential questions still looms; how much do bank tellers make?
You wonder if quitting your current job to pursue banking will reap benefits and abundance. Or perhaps you are just now deciding on a career path, and aren’t sure what to choose.
In this article, we will break down just how much a bank teller makes and provide smoother sailing for your decision making.
Visit our Career Guide for a list of all our job insights for an in depth look at the new career path you are considering.
What Can I Expect to Make as a Bank Teller?
According to Zippia, the average salary of a bank teller in the United States is about $15.28 per hour or $31,000 per year. An entry level bank teller job brings in about $26,000 per year.
The main benefits of this career are that it typically provides 401k, health and retirement benefits, dental, disability, and life insurance as well as paid time off, and parental leave.
Some less popular, but still appreciated benefits also include paid training, tuition reimbursement, vision insurance, and employee discounts.
Bank tellers make more money depending on the state they are working in, as well. For example, this position in Rhode Island will earn only $23,615 a year whereas a worker in California will earn $35,329 a year for the same job.
In states with a high minority population, such as California and Arizona, bilingual bank tellers may also receive higher pay than other employees.
As a result, the location of a bank teller position is absolutely critical in determining the pay scale. Along with California, the highest paying states are New Jersey, Minnesota, Hawaii, and Washington.
While the higher end of the scale may not seem like a lot, rates are at an almost all-time high since 2013. Back then, the average bank teller made an annual $26,000.
Average Job Salaries Depending On Job Levels
Of course, the level you’re at within the company determines how much you will be paid. As with most jobs, the more time you spend at a job, the higher the pay is due to raises throughout the years.
For example, a junior level bank teller makes an average of $28,000 per year, a mid-level teller makes an average of $31,000 per year, and a senior level teller makes an average of $33,000 per year.
The relatable job of personal banker averages $44,859 a year, a bank clerk averages $29,736 per year, and bank member service representatives average $14.98 per hour.
Types of Bank Tellers
Vault Tellers
Vault Tellers average $30,750 per year, oversee the cash transactions, and tally the sums to ensure the correct input and output of money. They also deal less with customers and more with maintaining an accurate record of the bank’s transactions.
Bank Representatives
This position averages $33,837 per year. They handle all client needs, and provide them with the utmost customer service. They are responsible for building positive client relationships and catering to their needs.
Retail Bankers
Retail bankers average $36,706 per year, and are responsible for opening and closing client’s accounts, updating their account statements, and selling financial services to potential customers.
They’re also in charge of settling account disputes such as fraud and issuing loans.
New Accounts Representatives
This position averages $37,479 per year, and caters to client’s questions about opening up new accounts. They go over any new fees, requirements, and limitations that administer the process of opening up a new account.
Personal Banking Representatives
They average $31,861 per year, are higher-end bank teller jobs, and typically require a bachelor’s degree in finance, business, or a similar field.
Individuals in this position provide excellent customer support, process checks, and cater to their customer’s financial needs.
Teller Supervisors
These supervisors average $38,165 per year, and hold a management position within the bank. They ensure that the bank tellers provide quality service and care to their clients, and assess their employee’s performances.
They also handle issues, and provide other leadership roles for the bank.
Companies to Work For
There are a few bank employers in the United States that offer higher paying jobs than others.
The highest paying bank teller jobs are at Wells Fargo or TCF Bank. The other top paying banks include Bank of America, Emprise Financial, People’s United Financial, and 1st Source.
Would You Make a Good Bank Teller?
Here are a few demographics to dictate whether or not bank telling would be a good career choice for you.
Bank tellers with a bachelor’s degree earn more money than those who don’t have a degree at an average of $32,126 per year.
Associate’s degrees will earn you a median income of $31,342 per year, and High School Diplomas holders will earn $31,297 per year.
Do Bank Tellers Make Enough Money for Your Liking?
Now that you have the relevant information, you are left with the burning question: do bank tellers make enough money per year for your liking?
Although an average income of $30,000 per year is not much to raise a family on, it’s certainly doable in a double-income household. That average income is ideal for a single individual with few bills, and a desire for a relaxed career.
Also bank teller jobs are incredibly flexible, and offer a wide variety of employment opportunities.
Upon initial training, you will also learn the skills of how to become an assistant head teller, how to become a banking associate, and how to become a senior teller. You may also work your way up to a bank manager or other executive position overtime.
You may be wondering, is a bank teller a good job? And the answer is, yes, if you enjoy talking to people, want employee benefits, and reasonable working hours.
More pros include building rapport with clients, learning about finance, working in a professional working environment, and being paid above minimum wage.
Bank tellers typically stay at their jobs for an average of 5 years or more, indicating that this career field is a very reliable and dependable field.
