Automated teller machines and the Internet haven't eliminated bank tellers. Despite technology, tellers are still key to a bank's customer service. The U.S. Bureau of Labor Statistics counted 544,150 bank tellers nationwide in May 2011. The number of teller jobs will stay flat between 2010 and 2020, as more consumers bank online. However, aspiring tellers will have many job opportunities because turnover is high.
Bank tellers need a high school diploma, but employers recommend additional training. The American Institute of Banking and the Institute of Financial Education offer or accredit correspondence courses and classes at colleges nationwide. Many banks refund the cost of training programs for employees. New tellers also undergo one month of on-the-job training, usually under an experienced teller who shows them how to use bank software and promote financial products and services. To sell the bank’s insurance lines, a teller needs to take a class and pass an exam to get a state license in insurance sales. With experience and training, tellers can move up to head teller or another management position. They could also become a loan officer or salesperson.
Most consumer interaction with a bank happens through tellers. Customers judge a bank by how tellers treat them, so tellers must be friendly, helpful, attentive and patient with the public. They must listen well to understand what customers need and be able to explain service options. Also important are maturity, tact and the ability to direct clients to the right place when they need extra help.
Tellers must pay attention to details so they don’t make mistakes when handling customers’ money. Tellers receive and count working cash for their drawer before their shift starts, and they’re responsible for safe and accurate tracking of money during the day. Before cashing a check, tellers must verify the date, bank name, the customer’s identification and the document’s legality. Tellers also make sure written and numerical amounts agree and that the account has funds to cover the check. When accepting a deposit, tellers check the deposit slip’s accuracy before completing the transaction. At the end of the day, tellers must count their cash on hand, organize checks and deposit slips and make sure accounts balance.
Banks look for tellers who work well with others and who can multi-task. They want tellers with good arithmetic skills and basic computer knowledge. Larger banks prefer previous experience handling cash or working with the public, and bilingual skills are in increasing demand.
Bank tellers earned a median annual income of $24,590 as of May 2011, meaning half of tellers earned more than that amount and half earned less. The bottom 10 percent of earners, who tend to have less experience and education, took home $19,350 or less, according to the Bureau of Labor Statistics. The top 10 percent of earners earned $33,900 or more. Earnings also varied by state. Tellers in Alaska made the most, with a mean annual wage of $29,360. Connecticut ranked second for teller pay, with a mean annual wage of $28,900. Massachusetts was third, at $28,750. Rhode Island, at $27,910, and Washington, at $27,540, rounded out the top five. Lowest-paying states included South Dakota, Kansas, Oklahoma, Arkansas, Kentucky and West Virginia, with mean annual wages ranging from $18,530 to $23,220.
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