How Much Do Bank Tellers Make Per Hour?
Bank tellers spend a great deal of time on their feet and have customer-intensive jobs. They require attention to detail as their jobs entail handling sums of money on a daily basis. Most bank tellers positions require a high school diploma and passing a background check. Tellers who spend time advancing their careers by taking college courses like accounting can branch out into other areas of the financial industry.
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National
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Nationwide, the average starting salary for bank tellers is around $11 per hour, based on figures provided by the Bureau of Labor Statistics. There seems to be very little difference among the various banks, with Bank of America paying $11.02 per hour as opposed to JP Morgan Chase, which pays $11.05 per hour, as of 2010. Salaries increase depending upon the length of time working at the bank.
Statewide
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When different states are examined, the pay scale changes. For example, even though the average hourly wage is $11 per hour across the country, Alaska has an average hourly wage for bank tellers of $14.08 per hour. This is followed by Massachusetts, with an hourly wage of $13.64 and in the third place position is Connecticut, bringing in $13.31 per hour, as of 2010.
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Experience
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The hourly wage for a bank teller is also reflected upon the level of experience the individual possesses. For example, bank tellers who are just starting out fall into a wage range between $8.91 per hour and $10.84 per hour, while bank tellers who have more than 20 years of experience earn, on average, between $10.67 per hour to $13.47 per hour. These figures vary depending upon geographic location and the institution employing the bank teller.
Gender
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There really does not appear to be a gender gap in the salaries of male and female bank tellers. Unlike the gender gap documented by Marianne Bertrand and Kevin F. Hallock in their study entitled “The Gender Gap in Top Corporate Jobs,” which showed that women in top-level positions earned about 45 percent less than their male counterparts, both male and female bank tellers earn approximately the same hourly wage.
Career path
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By some standards, the salary for bank tellers might not seem to be very high, but it can be a stepping stone position. Bank tellers can parlay their experience and combine it with more education, becoming accountants. Those tellers who remain working for a bank can become bank managers or loan officers, both of which have annual salaries of more than $42,000 per year, as of 2010.
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References
- Next Path: 8 Top Paying Part-time Jobs for College Students
- Bureau of Labor Statistics: Tellers
- Bureau of Labor Statistics: Occupational Employment and Wages, May 2009: Tellers
- DigitalCommons@ILR; "The Gender Gap in Top Corporate Jobs; Kevin F. Hallock; 2001
- Monster Worldwide, Inc.: Zig-Zag Career Paths: Where Will You Be in 5 Years?
- Photo Credit Comstock Images/Comstock/Getty Images
