What They Do: Tellers are responsible for accurately processing routine transactions at a bank.
Work Environment: Most tellers work in bank branches.
How to Become One: Most tellers have a high school diploma and receive about 1 month of on-the-job training. Some banks do background checks before hiring a new teller.
Salary: The median annual wage for tellers is $36,310.
Job Outlook: Employment of tellers is projected to decline 17 percent over the next ten years.
Related Careers: Compare the job duties, education, job growth, and pay of tellers with similar occupations.
Tellers are responsible for accurately processing routine transactions at a bank. These transactions include cashing checks, depositing money, and collecting loan payments.
Tellers typically do the following:
Tellers are responsible for the safe and accurate handling of the money they process. When cashing a check, they must verify the customer's identity and make sure that the account has enough money to cover the transaction. When counting cash, tellers must be careful not to make errors. If a customer is interested in financial products or services, such as certificates of deposits (CDs) and loans, tellers explain the products and services offered by the bank and refer the customer to the appropriate personnel.
In most banks, tellers record account changes using computers that give them easy access to the customer's financial information. Tellers also can use this information when recommending a new product or service.
Head tellers manage teller operations. Besides doing the same tasks as those done by other tellers, they perform some managerial duties, such as setting work schedules or helping less experienced tellers. Because of their experience, head tellers may deal with difficult customer problems, such as errors in customer accounts. Head tellers also go to the vault (where larger amounts of money are kept) and ensure that other tellers have enough cash to cover their shift.
Tellers hold about 432,500 jobs. The largest employers of tellers are as follows:
|Credit intermediation and related activities||97%|
|Management of companies and enterprises||1%|
The depository credit intermediation industry includes commercial bank branches, where tellers are primarily employed.
Most tellers work full time.
Get the education you need: Find schools for Tellers near you!
Most tellers have a high school diploma and receive about 1 month of on-the-job training. Some banks do background checks before hiring a new teller.
Tellers usually need a high school diploma or equivalent. Some tellers may take some college courses, but a degree is rarely required for a job applicant to be hired.
New tellers usually receive brief on-the-job training, typically lasting about 1 month. Normally, a head teller or another experienced teller trains them. During this training, tellers learn how to balance cash drawers and verify signatures. They also learn the computer software that their bank uses and the financial products and services the bank offers.
Experienced tellers can advance within their bank. They can become head tellers or move to other supervisory positions. Some tellers can advance to other occupations, such as loan officer. They can also move to sales positions.
Customer-service skills. Tellers spend their day interacting with bank customers. They must be friendly, helpful, and patient. They must be able to understand customer needs and explain service options to their customers.
Detail oriented. Tellers must be sure not to make errors when dealing with customers' money.
Math skills. Because they count and handle large amounts of money, tellers must be good at arithmetic.
The median annual wage for tellers is $36,310. The median wage is the wage at which half the workers in an occupation earned more than that amount and half earned less. The lowest 10 percent earned less than $28,120, and the highest 10 percent earned more than $46,320.
The median annual wages for tellers in the top industries in which they work are as follows:
|Credit intermediation and related activities||$36,280|
|Management of companies and enterprises||$35,940|
Most tellers work full time.
Employment of tellers is projected to decline 17 percent over the next ten years.
Despite declining employment, about 33,700 openings for tellers are projected each year, on average, over the decade. All of those openings are expected to result from the need to replace workers who transfer to other occupations or exit the labor force, such as to retire.
Historically, job growth for tellers was driven by the expansion of bank branches, where most tellers work. However, the number of bank branches has been in decline due to technological change. The rise of online and mobile banking allows customers to handle many transactions traditionally performed by tellers, such as depositing checks. As more people use these tools, fewer bank customers will visit the teller window. This will result in decreased demand for tellers.
In addition, automation is expected to lead to fewer tellers per bank branch. Some banks are developing video kiosks that allow customers to interact with tellers through webcams at ATMs. This will allow tellers to service a greater number of customers from one location, reducing the number of tellers needed for each bank.
"Enhanced ATMs" are another emerging form of automation technology. These machines are expected to perform an increasing range of customer service and clerical tasks currently done by tellers, such as issuing debit cards or detecting counterfeit currency. This will allow for far greater productivity for tellers, as they will be left with only the most complex customer service tasks. This also will result in fewer tellers employed per bank branch.
|Occupational Title||Employment, 2020||Projected Employment, 2030||Change, 2020-30|
A portion of the information on this page is used by permission of the U.S. Department of Labor.