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 change. 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.
Despite the improved outlook, automation and technology will continue to reduce the need for tellers who perform only routine transactions. For example, increased use of ATMs, debit cards, credit cards, and the direct deposit of pay and benefit checks have reduced the need for bank customers to interact with tellers for routine transactions. Electronic banking—conducted over the telephone or the Internet—also is spreading rapidly throughout the banking industry and will reduce the need for tellers in the long run.
Employment of tellers also is being affected by the increasing use of 24-hour telephone centers by many large banks. These centers allow a customer to interact with a bank representative at a distant location, either by telephone or by video terminal. Such centers usually are staffed by customer service representatives.
Job prospects. Job prospects for tellers are expected to be favorable. In addition to job openings expected from growth, most openings will arise from the need to replace the many tellers who transfer to other occupations—which is common for large occupations that normally require little formal education and offer relatively low pay. Prospects will be best for tellers with excellent customer service skills, knowledge about a variety of financial services, and the ability to sell those services.
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.
Overall Experience
Some previous work-related skill, knowledge, or experience maybe helpful in these occupations, but usually is not needed. For example, a drywall installer could benefit from experience in installing dry wall, but an inexperienced person could learn the job fairly easily.
Education
These occupations usually require a high school diploma and may require some vocational training or job related course work. In some cases, you may need an associate's or bachelor's degree.
Job Training
Employees in these occupations need anywhere from a few months to one year of working with experienced employees.
Examples
Drywall installers, fire inspectors, flight attendants, pharmacy technicians, retail salespersons, and bank tellers.
In these occupations you can often use your knowledge and skills to help others.
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Information on employment opportunities for tellers is available from banks and other employers, local offices of the State employment service, and from:
- Bank Administration Institute, 1 North Franklin St., Suite 1000 Chicago, IL 60606. Internet: http://www.bai.org
Sources: O*Net data version 12.0
Occupational Outlook Handbook
Department of Labor
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