How Much Does a Teller at a Bank Make? A Comprehensive Guide to Bank Teller Salaries
If you’re considering a career as a bank teller, one of the first questions you might ask is, “How much does a teller at a bank make?” The answer, however, is not as straightforward as you might hope. Bank teller salaries can vary significantly depending on factors such as location, experience, and type of bank. In this article, we’ll delve into the world of bank teller salaries, exploring the average salary range, factors that influence pay, and what you can expect in different regions and banking institutions.
The Average Bank Teller Salary
According to the Bureau of Labor Statistics (BLS), the median annual salary for bank tellers in the United States was $36,310 as of May 2020. However, salaries can range from around $25,000 to over $50,000 per year, depending on the specific job and employer. To give you a better idea, here are some average salary ranges for bank tellers in different industries:
– Credit unions: $33,000 – $45,000 per year
– Commercial banks: $34,000 – $50,000 per year
– Savings institutions: $30,000 – $42,000 per year
– Federal Reserve banks: $38,000 – $60,000 per year
Factors That Influence Bank Teller Salaries
So, how much does a teller at a bank make? As mentioned earlier, salaries can vary significantly depending on several factors. Here are some of the key factors that influence bank teller pay:
– Location: Salaries can differ significantly depending on the location. For example, bank tellers in urban areas tend to earn higher salaries than those in rural areas. Cities with a high cost of living, such as New York or San Francisco, often offer higher salaries to compensate for the increased expenses.
– Experience: More experienced bank tellers can expect higher salaries. Those with several years of experience may be promoted to senior teller or assistant branch manager positions, which come with higher pay grades.
– Type of bank: The type of bank you work for can also impact your salary. For example, bank tellers at large commercial banks may earn higher salaries than those at smaller community banks or credit unions.
– Shift and hours worked: Bank tellers who work non-traditional hours, such as evenings or weekends, may receive higher pay or additional compensation.
Regional Bank Teller Salaries
How much does a teller at a bank make in different regions? Salaries can vary significantly depending on the state or region you’re in. Here are some average salary ranges for bank tellers in different regions:
– Northeast: $35,000 – $50,000 per year
– South: $30,000 – $45,000 per year
– Midwest: $32,000 – $48,000 per year
– West Coast: $38,000 – $60,000 per year
Bank Teller Salaries at Major Banks
How much does a teller at a bank make at some of the major banks in the United States? Here are some average salary ranges for bank tellers at some of the largest banks:
– Wells Fargo: $34,000 – $50,000 per year
– Bank of America: $36,000 – $55,000 per year
– Chase Bank: $35,000 – $52,000 per year
– U.S. Bank: $33,000 – $48,000 per year
In conclusion, the answer to “how much does a teller at a bank make” is not a simple one. Salaries can vary significantly depending on factors such as location, experience, and type of bank. However, by understanding the average salary ranges and factors that influence pay, you can better negotiate your salary and plan your career as a bank teller.
Average Salaries for Bank Tellers in the United States
Now that we’ve discussed the various factors that influence a bank teller’s salary, let’s take a closer look at the average salaries for bank tellers in different regions of the United States.
| City/Region | Average Annual Salary | Average Hourly Wage |
|---|---|---|
| New York City, NY | $43,610 | $20.96 |
| Los Angeles, CA | $40,450 | $19.45 |
| Chicago, IL | $39,310 | $18.90 |
| Houston, TX | $38,410 | $18.46 |
| Phoenix, AZ | $37,290 | $17.93 |
| Philadelphia, PA | $36,410 | $17.50 |
| San Antonio, TX | $35,890 | $17.25 |
| San Diego, CA | $35,590 | $17.11 |
| Dallas, TX | $35,390 | $17.01 |
| San Jose, CA | $34,990 | $16.82 |
Key Takeaways and Next Steps
The data above highlights the significant variations in bank teller salaries across different regions in the United States. While salaries tend to be higher in urban areas, there are still opportunities for tellers to earn a competitive income in smaller cities and towns.
As you consider a career as a bank teller, it’s essential to research the average salaries in your desired location and factor in cost of living expenses, benefits, and opportunities for advancement. By doing so, you’ll be better equipped to negotiate a fair salary and make informed decisions about your career path.
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