Bank Teller
Nature of the Work
The teller is the worker most people associate with
their bank. Among the responsibilities of tellers are cashing checks,
accepting deposits and loan payments, and processing withdrawals. Tellers make
up approximately one-fourth of bank employees and conduct most of a bank’s
routine transactions.
Prior to starting their shifts, tellers receive and
count an amount of working cash for their drawers. A supervisor—usually the
head teller—verifies this amount. Tellers disburse this cash during the day
and are responsible for its safe and accurate handling. Before leaving,
tellers count their cash on hand, list the currency received on a balance
sheet making sure that the accounts balance, and sort checks and deposit
slips. Over the course of a workday, tellers also may process numerous mail
transactions. They also may sell savings bonds, accept payment for customers’
utility bills and charge cards, process necessary paperwork for certificates
of deposit, and sell travelers’ checks. Some tellers specialize in handling
foreign currencies or commercial or business accounts. Other tellers
corroborate deposits and payments to automated teller machines (ATMs).
Work Environment
Tellers work in an office environment. They may
experience eye and muscle strain, backaches, headaches, and repetitive motion
injuries as a result of using computers every day. Tellers may have to sit for
extended periods while reviewing detailed data.
Many tellers work regular business hours and a
standard 40-hour week. Sometimes, they work evenings and weekends to
accommodate extended bank hours. About 1 in 4 tellers worked part time.
Education and Training
Most tellers are required to have at least a high
school diploma, but some have completed some college training or even a
bachelor’s degree in business, accounting, or liberal arts. Although a college
degree is rarely required, graduates sometimes accept teller positions to get
started in banking or in a particular company with the hope of eventually
being promoted to managerial or other positions.
Once hired, tellers usually receive on-the-job
training. Under the guidance of a supervisor or other senior worker, new
employees learn company procedures. Some formal classroom training also may be
necessary, such as training in specific computer software.
Employment
Tellers held about 608,000 jobs in 2006. The
overwhelming majority of tellers worked in commercial banks, savings
institutions, or credit unions. The remainder worked in a variety of other
finance and other industries.
Job Outlook
Employment of tellers is expected to grow about as
fast as the average for all occupations. Overall job prospects should be
favorable due to the need to replace workers who retire or otherwise leave the
occupation.
Employment is projected to grow by 13 percent between
2006 and 2016, which is about as fast as the average for all occupations. To
attract customers, banks are opening new branch offices in a variety of
locations, such as grocery stores and shopping malls. Banks are also keeping
their branches open longer during the day and on weekends. Both of these
trends are expected to increase job opportunities for tellers, particularly
those who work part time.
Earnings
Salaries of tellers vary with experience, region of
the country, size of city, and type and size of establishment. Median annual
earnings of tellers were $22,140 in May 2006. The middle 50 percent earned
between $19,300 and $25,880 a year. The lowest 10 percent earned less than
$16,770, and the highest 10 percent earned more than $30,020 a year in May
2006.
Related Occupations
Tellers enter data into a computer, handle cash, and
keep track of financial transactions. Other clerks who perform similar duties
include bill and account collectors; billing and posting clerks and machine
operators; bookkeeping, accounting, and auditing clerks; gaming cage workers;
brokerage clerks; and credit authorizers, checkers, and clerks.
Sources
Bureau of Labor Statistics, U.S. Department of Labor,
Occupational Outlook Handbook, 2008-09 Edition, Tellers, on the Internet at
http://www.bls.gov/oco/ocos126.htm (visited January 14, 2008).
