Salary, Job Description, How To Become One, and Quiz
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Tellers
Tellers receive and pay out money. Keep records of money and negotiable instruments involved in a financial institution's various transactions.
Table of contents
What they do
Tellers receive and pay out money. Keep records of money and negotiable instruments involved in a financial institution's various transactions.
- Balance currency, coins, and checks in cash drawers at ends of shifts and calculate daily transactions, using computers, calculators, or adding machines.
- Receive checks and cash for deposit, verify amounts, and check the accuracy of deposit slips.
- Monitor bank vaults to ensure cash balances are correct.
- Cash checks and pay out money after verifying that signatures are correct, that written and numerical amounts agree, and that accounts have sufficient funds.
Typical day
On a daily basis, Tellers receive checks and cash for deposit, verify amounts, and check the accuracy of deposit slips. They enter customers’ transactions into computers to record transactions and issue computer-generated receipts.
A typical day for a Teller will also include:
- Examine checks for endorsements and verify other information, such as dates, bank names, identification of the persons receiving payments, and the legality of the documents.
- Cash checks and pay out money after verifying that signatures are correct, that written and numerical amounts agree, and that accounts have sufficient funds.
- Monitor bank vaults to ensure cash balances are correct.
- Answer telephones and assist customers with their questions.
- Process transactions, such as term deposits, retirement savings plan contributions, automated teller transactions, night deposits, and mail deposits.
Other responsibilities
Besides their typical day, Tellers also count, verify, and post armored car deposits. They may also prepare work schedules for staff.
On a weekly to monthly basis, Tellers quote unit exchange rates, following daily international rate sheets or computer displays. They might also resolve problems or discrepancies concerning customers’ accounts.
In addition, they obtain and process information required for the provision of services, such as opening accounts, savings plans, and purchasing bonds.
Although specific duties may vary, many of them order a supply of cash to meet daily needs.
To some Tellers, it is also their responsibility to compose, type, and mail customer statements and other correspondence related to issues such as discrepancies and outstanding unpaid items.
What is the job like
Job satisfaction
Is this job meaningful
57% said they were satisfied with their job and 33% said they found their job meaningful.
I worked as a bank teller for five years. My typical day includes making and confirming morning counts, checking on all computers if they worked properly, talking to customers, and depositing and withdrawing money.
Later in the day, I had to write a report for my supervisor, which would also run through to my branch manager. The report had to detail any irregularities noticed throughout the day; these could include inaccurate deposits or withdrawal requests, group deposits to joint accounts, and fake currency incidences.
The work is monotonous for the most part but calls on critical analytical skills and decision-making capability on any absurdities. It is also essential to have excellent customer service skills while working in this role.
I loved this job because it allowed me to speak to customers directly, it’s only misgiving, however, was the constant threat of automation and redundancy.
Pros
Suitable for people who like to follow routines.
Suitable for people who value relationships between co-workers and customers and want to work in a friendly non-competitive environment.
This career is perfect for people who love to work indoors.
It is easy to get into this career. Some previous work-related skill, knowledge, or experience is required for this career.
Cons
Not suitable for people who like to work with designs.
One of the lowest paying jobs.
Demand for this career is growing very slowly.
How much do they make
Average salary
Average hourly wage
Entry-level Tellers with little to no experience can expect to make anywhere between $24,660 to $28,080 per year or $12 to $14 per hour.
| Salary by experience | Annual | Hourly |
|---|---|---|
| Highest (Top 10%) | $41,220 | $20 |
| Senior (Top 25%) | $37,780 | $18 |
| Median | $32,620 | $16 |
| Junior (Bottom 25%) | $28,080 | $14 |
| No experience (Bottom 10%) | $24,660 | $12 |
This table shows the top 10 highest paying industries for Tellers based on their average annual salary.
| Salary by industry | Annual | Hourly |
|---|---|---|
| Local Government | $38720 | $18.62 |
| Monetary Authorities-Central Bank | $38560 | $18.54 |
| Spectator Sports | $36640 | $17.62 |
| Agencies, Brokerages, and Other Insurance Related Activities | $36560 | $17.58 |
| Securities, Commodity Contracts, and Other Financial Investments and Related Activities | $35870 | $17.24 |
| Accounting, Tax Preparation, Bookkeeping, and Payroll Services | $35150 | $16.90 |
| General Medical and Surgical Hospitals | $35050 | $16.85 |
| Management of Companies and Enterprises | $35020 | $16.84 |
| Gambling Industries | $33910 | $16.30 |
| Insurance Carriers | $33770 | $16.23 |
View more salary by industries here.
Where can they work
Where can Tellers work? Here is a table showing the top 10 largest employers of Tellers including the average salary in that industry.
| Employers | Total Employed | Annual Salary | Hourly Wages |
|---|---|---|---|
| Credit Intermediation and Related Activities | 401800 | $32930 | $15.83 |
| Nondepository Credit Intermediation | 7780 | $30870 | $14.84 |
| Management of Companies and Enterprises | 4760 | $35020 | $16.84 |
| Securities, Commodity Contracts, and Other Financial Investments and Related Activities | 4490 | $35870 | $17.24 |
| Investigation and Security Services | 1670 | $32370 | $15.56 |
| Employment Services | 1040 | $33070 | $15.90 |
| Spectator Sports | 430 | $36640 | $17.62 |
| Monetary Authorities-Central Bank | 350 | $38560 | $18.54 |
| Agencies, Brokerages, and Other Insurance Related Activities | 230 | $36560 | $17.58 |
| Local Government | 180 | $38720 | $18.62 |
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What is the work day like
Working hours
Working schedule
How often do you use email in this job?
Telephone
How often do you have telephone conversations in this job?
Group discussions
How often do you have group discussions in this job?
Public speaking
How often does this job require you to do public speaking?
Level of competition
How much competitive pressure is in this job?
What is the work environment like
Office-style environment
Indoors in an environmentally controlled condition
Warehouse-style environment
Indoors in a non-controlled environmental condition such as a warehouse
Outdoors
Outdoors exposed to all weather conditions
Outdoors – Under Cover
Outdoors but under cover (e.g. structure with roof but no walls)
How to become one
Difficulty to become one
Required level of education
What level of education do you need to perform the job?
Relevant majors
Banking and Financial Support Services
Relevant work experience
How much related work experience do you need to get hired for the job?
On The Job Training
How much on the job training do you need to perform the job?
Should you become one
Best personality type for this career
People with this personality type likes to follow set procedures and routines. They prefer working with data and details more than with ideas.
People with The Builder personality type likes practical and hands-on work. They prefer working with plants, animals, and real-world materials like wood, tools, and machinery.
People with The Thinker personality likes to work with ideas that require an extensive amount of thinking. They prefer work that requires them to solve problems mentally.
People with The Artist personality likes to work with designs and patterns. They prefer activities that require self-expression and prefer work that can be done without following a clear set of rules.
People with The Helper personality type likes to work with people and in teams. They prefer work that allows them to build relationships with others.
People with The Leader personality likes to start and work on projects. They also like leading people and making many decisions.
People with The Organizer personality type likes to follow set procedures and routines. They prefer working with data and details more than with ideas.
You can read more about these career personality types here.
People who are suitable for this job tend to like following set procedures and routines. They like working with data and details more than with ideas.
They also like starting up and carrying out projects. They like leading people and making many decisions. Sometimes they require risk-taking and often deal with business.
Take this quiz to see if this is the right career for you.
Work Values
Which values are the most important to a person’s satisfaction for this job?
You are someone who is results oriented. You prefer work that allows you to utilize your skills and abilities while at the same time giving you a sense of accomplishment.
You are someone who values job security, steady employment, and good working conditions. You also prefer work that keeps you busy all the time with something different to do every day.
You are someone who values job advancement and leadership roles. You prefer work that receives recognition for the work you do and jobs that are looked up to by others in the company and your community.
You are someone who likes to provide a service to others. You prefer a work environment where you can work with your co-workers in a friendly non-competitive environment.
You are someone who values a company that stands behind their employees. You prefer a work environment where everyone is treated fairly and is being supported by the company.
You are someone who likes to work on your own and make your own decisions. You prefer work that requires little supervision and are allowed to try out your own ideas.
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