Do you want to know how many jobs are available in Commercial Banks or you want to know the best paying jobs in Commercial Banks.
Then this article is for you.
In this article we shall discuss how many jobs are available in Commercial Banks, the list and best paying jobs in Commercial Banks.
According to Statistics from the United States Bureau of Labor Statistics, there are over Tens of thousands of jobs available in Commercial Banks in the United States and a further 1.8 million Americans currently working in the commerical banking sector.
Ranging from performing audits and working with loans, commercial banking sector have provided a lot of job opportunities for interested professionals who are desperate to work in finance career path.
That’s not all, keep reading!
How Many Jobs Are Available In Commercial Banks?
Unlike retail banking which is focused on working with the society or individuals, commercial banking is focused on providing finance professional services to customers with business or commercial interests.
This might include checking and saving contacts loan options, credit cards and more. Commercial banking is a good career path for anyone who is interested in Finance, Money Management and Business.
According to Statistics, there are over 4,000 FDIC insured commerical banks and over 1.9 million people working full-time positions in Commercial Banks industry.
Commercial Banking been a rapidly growing industry, it has witnessed a massive increase in market size with over $963.4 billion in 2022 which doesn’t depicts that there’s an increase in the number of jobs in Commercial Banks.
There are always a good number of job availability in Commercial Banking as a result of the fact that individuals are delving into different industries or retiring.
That’s not all, keep reading!
What Types of Jobs Are in Commercial Banks?
While different big and growing banks in the United States offer commercial services, individuals or professionals may wonder if Commercial Banks is a good career path.
Yes, Commercial Banking is a good career path and there are different types of jobs available with a high salary offer and job security which always requires some training or experience, degree and skill.
List of Jobs Available In Commercial Banks
Here are some of the jobs available in Commercial Banking and they include:
- Account Manager
- Bank Teller
- Loan Officer
- Loan Assistant
- Internal Auditor
- Personal Banker
- Branch Manager
- Underwriter
- Credit Analyst
- Mortgage Banker
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10 Best Paying Jobs In Commercial Banks
1. Accout Manager: $25.19 per hour or $58,833 per year
An Account Manager is a banking professional whose responsibility is to ensure departments meets the needs of their customers and clients.
They handle customers complaints and inquiries, find better solutions to their issues and establish a positive relationship between the company and the customers for future business deals.
Account Manager is a good paying jobs in Commercial Banking since their job relates to problem solving and establishing relationship between customers and company.
According to the United States Bureau of Labor Statistics, there are over 1,022,000 jobs in the United and an estimated growth rate of 5% from 2020-2030.
An Account Manager earns an estimated average of $25.19 per hour or $58,833 per year.
2. Bank Teller: $23.84 per hour or $63,494 per year
A Bank Teller or Bank Clerk is a professional who is responsible for helping a specified bank clients with routine or daily financial transactions.
Their day-to-day responsibilities include making deposits, issuing money orders or cashier checks to bank clients and handling withdrawals
The Bureau of Labor Statistics shows that there are over 405,000 Bank Teller jobs in the United States with an estimated growth rate of -7% from 2020-2030.
This statistics shows that their we be a fall in the number of Bank Teller jobs in the United States as a result of it’s complexity.
A Bank Teller average salary is estimated at $23.84 per hour or $63,494 per year.
Looking for how many jobs are available in Commercial Banks, then consider Bank Teller.
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3. Loan Officer: $51.97 per hour or $217,263per year
A Loan Officer is a bank expert who works for credit unions, independent lenders and mortgage companies and banks to help applicants or customers to apply for loans.
They also ensure the eligibility to proceed with loans and evaluate how creditworthy or not an individual might be based on their banking history and current finances before recommending approval.
Loan Officer is one of the best paying jobs in Commercial Banks with over 216,000 jobs in the United States and an estimated growth rate of 8% from 2020-2030.
A Loan Officer is known to receive an average salary of $51.97 per hour or $227,263 per year.
Looking for how many jobs are available in Commercial Banks, then consider Loan Officer.
4. Loan Assistant: $21.03 per hour or $71,439 per year
Another popular Loan Expert in Commercial Banks industry is a Loan Assistant whose responsibility is to answer the telephone, responds to customers inquiries relative to account balance, payoffs and loan balances.
They also calculates loan pay off amounts for all types of loans, assist customers with completing loan applications and other related loan documentation.
Loan Officer is a good career path in Commercial Banks with over 122,000 jobs in the United States and a predicted growth rate of 5% from 2020-2030.
A Loan Assistant earns an average of $21.03 per hour or $71,439 per year in the US.
5. Internal Auditor: $32.45 per hour or $75,608 per year
An Internal Auditor is a bank professional whose responsibility is to ensure that companies and organizations have accurate accounting throughout the year.
They also ensure that other accounting teams follow proper procedures and that all accounts are accurate and updated.
Internal Auditor is one of the best paying jobs in Commercial Banks with over 216,000 jobs in the United States and an estimated growth rate of 6% from 2020-2030.
An Internal Auditor earns an average of $32.45 per hour or $75,608 per year in the US.
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6. Personal Banker: $16.05 per hour or $40,232 per year
A Personal Banker is a finance professional who is responsible for managing the finances and accounts of clients.
They oversee all aspects of their clients accounts, providing them with banking services like credit cards or loans, and advising investment opportunities.
Personal Banker is an average and good career path in Commercial Banking with over 222,000 Personal Banker jobs in the United States and an estimated growth rate of 4% from 2020-2030.
A Personal Banker earns an average of $16.05 per hour or $40,232 per year.
Looking for a good career path in Commercial Banks, then consider Personal Banker.
7. Branch Manager: $27.23 per hour or $61,889 per year
A Branch Manager is a banking employee who oversees the operations of an instituted bank or financial institution.
The Branch Manager’s responsibilities include managing resources and staff, mapping out and achieving sales goals, delivering customer’s service and growing the location’s revenues.
Branch Manager is one of the best paying jobs in Commercial Banks with over 122,000 Branch Manager in the US with an estimated growth rate of 16% from 2020-2030.
Branch Manager is a good career path in Commercial Banks with an estimated earnings of $27.23 per hour or $61,889 annually.
8. Underwriter: $29.73 per hour or $69,360 per year
An Underwriter is an insurance and financial expert whose responsibility is to examine applications for insurance loans, or other similar applications and evaluating the risk of said loans.
The Underwriter is in charge of making a decision to either approve or disprove any application.
There are over 97,000 Underwriter jobs in Commercial Banking with an estimated growth rate of -5% from 2020-2030.
Looking for how many jobs are available in Commercial Banks, then Underwriter jobs is open for you.
9. Credit Analyst: $21.64 per hour or $55,823 per year
A Credit Analyst is responsible for gathering and reviewing financial data about loan applicants including their payment habits and history, savings and earnings, and spending patterns.
Finally, a Credit Analyst recommends approval or denial of the loan.
There are over 65,000 Credit Analyst jobs in the US and an estimated growth rate of -4% from 2020-2030.
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10. Mortgage Banker: $37.31 per hour or $86,954 per hour
A Mortgage Banker is an insurance and financial expert whose responsibility is originating, funding and at times service mortgage loans.
Mortgage Bankers use their funds from a warehouse lender to fund the loans.
They might keep the mortgage loan or sell it to an investor. Mortgage bankers originate real estate loans and fund them.
There are over 50,000 Mortgage Banker jobs with an estimated growth rate of 8% from 2020-2030.
Is Commercial Banks A Good Career Path?
Yes, Commercial Banks is a good career path and one of the best growing financial industry in the United States.
There are certainly jobs within commercial banking that pay well above average—like Financial Managers—but those jobs typically require more education and experience.
However, many large commercial banks, like JPMorgan Chase, offer apprenticeship and internship programs to help students and recent graduates gain experience.
Frequently Asked Questions on Commercial Banks
Do commercial banking jobs require additional education?
It depends on the specific types of jobs, for instance Bank Teller requires an extra educational degree like a High School Diploma while others like Financial Manager requires both experience and education.
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Does commercial banking pay well?
As with most industries, the average salary depends on the specific role you’re applying for, your location, and the amount of experience you have. Some jobs pay better than others: the average salary for a bank teller is around $36,000 while the average salary for a financial manager is $131,000.
Is commercial banking a good career path?
If you’re someone who enjoys working in finance, and you’re interested in working with businesses, commercial banking might be a good fit for you. The industry continues to grow year-after-year, and — while some job types have a better job outlook than others — it’s generally a safe and steady career path.
That’s all we have for “How Many Jobs Are Available In Commercial Banks “
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