What is the Average Bank Customer Service Representative Salary?

One of the most stable jobs that many people think of getting into after graduation is being a bank customer service representative.

Although this position may seem mundane or boring, it’s certainly not the case. Customer service representatives help a branch run smoothly, manage confidential information, and make people’s lives much easier when they need to complete financial transactions.

Read on if you want to learn more about this position and the average bank customer service representative salary. We’ll go over the basics of the job and review salary options from different banks in the US so you can find the best fit.

What is The Role of a Bank Customer Service Representative?

Most of the employees you interact with in a bank are customer service representatives. These professionals take on multiple roles to help people with day-to-day banking services. Some of the functions that they take on include:

• Responding to general customer queries
• Familiarizing clients with the products and services that the bank offers
• Inspect customer accounts and relay pending payment information
• Help people who are victims of identity theft, stolen cards, and fraud
• Help clients upgrade or downgrade services
• Referring clients to a banker, supervisor, or manager for complex issues

Although every bank has a standard, the above duties are the core responsibilities of the modern bank customer service representative. Before officially starting, you’ll receive training as part of the onboarding process.

Do Representatives Only Work Inside Local Bank Branches?

Many people assume that bank customer service representatives only work inside banks. However, most people you speak to over the phone work through bank call centers. In some cases, you may even work from home. US-based call centers usually pay more than offshore ones.

You can work in a small local branch in your neighborhood, or you can work in a large investment bank in a financial district. The more qualifications, skills, and education you have, the likelier you’ll find an excellent position.

How Much Does a Bank Customer Service Representative Make?

The average bank customer service salary is $36,920 in the United States. The highest earners make up to $94,541, while the lowest earners earn just over $22,000 annually. Of course, your salary varies depending on the state, onsite/remote location, level of education, degree, and daily responsibilities.
Here is an example of what some banks in the US are paying for this position:

• TD Bank: $45,184
• First Citizens Bank: $48,840
• Chase: $35,877
• Investors Bank: $58,500
• PNC Bank: $33,377
• Frost Bank: $37,103

What Is The Job Outlook for This Position?

The job outlook for bank customer service representatives in the United States is stable. The Bureau of Labor Statistics doesn’t expect too many changes in the next decade for this position. On average, the US has 361,600 new openings for this position annually. Since many people take on this position as an entry-level job, banks need new workers to replace those changing their positions or who are about to retire.

Do You Need a Degree to Work as a Bank Customer Service Representative?

Some banks allow you to start working as a bank customer service representative with a high school diploma. However, most banks require at least a bachelor’s degree for you to begin working. If you have a finance-related degree, finding a job in this position is more accessible, and you’ll likely start with a higher salary.

Even if you don’t have much experience beyond your degree, this position is flexible enough to start without extensive training.

One of the best ways to know whether your local banks require degrees is to check listings online. Try to search for multiple banks, even ones you didn’t think to apply to, to determine which offers better opportunities depending on your skillset.

Does This Role Offer Advancement Opportunities?

Fortunately, once you start working as a bank customer service representative, you can look forward to multiple advancement opportunities in the future. If you want to stay in the same field, you can become a customer service supervisor or manager. Other positions you can apply to once you have sufficient experience include:

• Business development specialist
• Financial Planning
• Bank Teller
• Branch coordinator
• Loan Manager
• Credit Analyst
• Customer Support Associate
• Head Clerk

You can also work with your Human Resources department to ask whether they have suitable internal jobs that are open. Remember that once you show your managers that you can take on rigorous tasks and know how to communicate, you may receive a referral without even asking for another position. Networking in this industry is essential for the best career results.

What are The Perks of Being a Bank Customer Service Representative?

Being a bank customer service representative comes with multiple perks. The stability of the job is hard to find, and it provides you with an opportunity to work with and help the public. Most people visit the bank for minor issues that have simple solutions. And when the going gets tough, and you don’t have all the answers, you can always refer clients to a supervisor or manager who can address the problem quickly.

You may have a flexible schedule or remote working opportunities. This job is excellent for parents who want to spend more time with their children as banks rarely open after 5:00 p.m. on weekdays.

Additionally, the compensation is a good starting point for entry-level employees and often comes with good benefits. This role allows you to learn the ropes to become more familiar with the industry before taking on more intensive positions later.

What Are the Cons of Being a Bank Customer Service Representative?

Although you’re working in a bank environment, customer service always comes with demanding clients and plenty of stress and burnout. If the bank makes policy changes, you’ll be the person that people become frustrated with, and they may take out their anger on you. You’ll also juggle many responsibilities and must learn to manage your time and priorities.

Despite these drawbacks, this is part of virtually any customer service job. With time, you’ll understand how to work better with people and solve their issues without compromising your mental health. Working with people strengthens your personality and helps you build your communication skills. You’ll get the hang of your job in a few months and know what to do when significant problems arise.

What Should You Include in Your Resume?

Nowadays, you’ll need to upload your resume directly through the bank portal. These banks use Applicant Tracking Systems to manage the high volume of resumes they receive daily, which come with many imperfections. When formatting your resume, avoid fancy fonts, frames, and outlines that won’t pass the Applicant Tracking System. If your resume doesn’t come in a standard format, the system may not read it right and won’t make it to a recruiter’s hands.

If you want to avoid mishaps from happening, try formatting your CV with Rocket Resume.

Rocket Resume allows you to create a fully-functional resume in minutes. With no hassle and intuitive tools that make the process easier, you’ll never have to worry about a resume format ruining your chances of getting a job.

Now that you know the average bank customer service representative's salary and job details, you can make better decisions for your future.

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