How Much Do Bank Tellers Make?

Bank Teller Salary

So, how much do bank tellers make?

According to the Bureau of Labor Statistics the average bank teller’s salary is . This is calculated by taking the median wage across the US.
A bank tellers starting salary is around $22,250. This is calculated by looking at the amount the lowest 10% earners.

The largest number of tellers are employed in the states of California, Florida, Illinois, New York, and Texas.

The highest paid tellers are employed in Alaska and the District of Columbia. The bank that the teller works for has an impact on their salary, along with the geographic location.

However, there is often the chance for progression in most banks. This path is usually via promotion to funding managers, supervisors, and other managerial roles.

Bank tellers are predominately full-time workers. Around 1 in 3 bank tellers works part-time.

Being employees of banks, there is no opportunities for being self-employed.

The hours follow standard banking hours, with little opportunity for overtime and working through holidays.

Top 5 Paying States

Flag	State	Employment per 1000 Jobs	Hourly mean wage	Annual mean wage
	Alaska	3.92	$14.77	$30,720
	Connecticut	3.40	$14.59	$30,340
	Massachusetts	0.87	$14.34	$29,820
	Washington	0.94	$14.07	$29,270
	Rhode Island	4.02	$13.20	$28.530

Top Paying Industries

Bank Teller Job Description

Bank tellers are responsible for accurately handling and processing customer’s transactions in banks. These transactions include handling cash, processing loan payments, cashing checks, and dealing with queries.
So, as far as key duties, what do bank tellers do?

• Accept cash, checks, currency, and other forms of tender.
• Count the cash balance in their drawer at the start and end of their shift.
• Prepare specialized types of funds.
• Handle questions and queries from customers.
• Exchange different currencies.
• Record all transactions accurately and noting details.

One of the key responsibilities of a bank teller is the accurate and safe handling of cash.

When cashing checks, they are responsible for verifying the customer’s identity.

Making sure they have enough funds to cover the transaction, and keeping an eye out for fraudulent activity.

When handling cash it’s very important that tellers do not make errors.

Counting out bills and double checking cash it part of the role. Tellers are also able to explain some of the financial products banks offer to customers, and refer them to the appropriate professional if required.

Almost all banks have in-house computer systems to record transactions and give the teller the customer’s account information. So basic computer skills are required, although training is always offered.

Bank tellers’ career paths are usually steps directly up. Moving on to senior cashiers, supervisors, and manager positions and head tellers. Although there are also opportunities for tellers to move to different positions within the banking industry.

Head tellers oversee a number of bank tellers. As well as carrying out some of the same tasks, they also perform managerial duties. Like monitoring the hours worked, putting work schedules together, and dealing with difficult or demanding customers.

Head tellers will also investigate any cash discrepancies, errors with customer accounts, and may handle large cash transactions.

Career Outlook Of Bank Tellers

There is a projected decline of -8% between 2016 and 2026. Previous growth in the profession was driven by the amount of banks increasing across the US. However, the growth of banks and branches is expected to slow drastically, largely due to the amount of banks already operational.

In addition to this there has been a large surge in mobile banking in recent years.

This allows customers to carry out transactions that would have previously been handled by bank tellers. There are some new technologies aimed at increasing teller interaction with customers, such as webcams at ATM machines. The results of this is yet to be seen.

A highlight to looking to enter the profession of a bank teller is that a lot of tellers leave their jobs each year. It’s seen as an entry level job in the banking profession, and as such people often move up or move on.