If you are considering a career in the banking industry, you may be wondering about the availability of jobs in commercial banks. In this article, we will explore how many jobs are available in commercial banks, the types of jobs available, and what qualifications you need to secure a job in this industry with apply link.
Overview of the Commercial Banking Industry
Before we delve into the job opportunities in commercial banks, let’s first take a look at the industry as a whole.
According to the Federal Deposit Insurance Corporation (FDIC), 4,951 commercial banks were operating in the United States as of MAY 6, 2023. These banks held a total of $22.8 trillion in assets and employed approximately 2.1 million people.
How many jobs are available in commercial banks?
| Category | Jobs |
|---|---|
| Entry-level jobs | Bank teller, Customer service representative |
| Loan department jobs | Loan officer, Credit analyst, Wealth manager, Investment banker |
| Bank Operations jobs | Operations manager, Operations analyst, Branch manager, Treasury manager, Fraud investigator |
| Corporate role jobs | Financial analyst, Marketing manager, Risk manager, Compliance officer, Product manager, Audit manager, Human resources manager, Relationship manager, IT specialist |
Bank Teller Jobs
A bank teller is responsible for processing routine transactions such as deposits, withdrawals, and payments for customers at a bank.
Job Role: Bank tellers are the face of the bank, providing excellent customer service while processing transactions quickly and accurately.
Job Posts Available: According to the Bureau of Labor Statistics (BLS), approximately 46800 bank teller jobs are available in commercial banks in the USA as of 2023.
Salary: The average salary for a bank teller in the USA is around $32,000 per year.
Qualifications Required: A high school diploma or equivalent is typically required for this job, and good communication and math skills are essential.
Loan Officer Jobs
A loan officer evaluates loan applications and decides to approve or deny them.
Job Role: Loan officers work closely with clients to understand their financial needs and recommend the best loan options.
Job Posts Available: The BLS reports that there were approximately 31490 loan officer jobs in the USA as of 2023.
Salary: The average Salary for a loan officer in the USA is around $63,000 annually.
Qualifications Required: A bachelor’s degree in finance, economics, or a related field must need for this job. Strong analytical and communication skills are also essential.
Customer Service Representative Jobs
A customer service representative in a commercial bank is responsible for addressing customer inquiries, resolving complaints, and providing information about the bank’s products and services.
Job Role: Customer service representatives act as a liaison between the bank and its customers, helping to build and maintain positive relationships with them.
Job Posts Available: As of 2023, approximately 2800 customer service representative jobs are available in commercial banks in the USA, with many in the banking industry.
Salary: The average salary for a customer service representative in the USA is around $34,000 per year.
Qualifications Required: A high school diploma or equivalent is typically required for this job. Strong communication and problem-solving skills and the ability to work well under pressure are essential.
Operations Manager Jobs
An operations manager in a commercial bank is responsible for overseeing the bank’s day-to-day operations, ensuring that all processes are efficient and effective.
Job Role: Operations managers work closely with other departments to ensure that the bank’s policies and procedures are followed and identify improvement areas.
Job Posts Available: As of 2023, approximately 1900 operations manager jobs are available in commercial banks in the USA, with many in the banking industry.
Salary: The average Salary for an operations manager in the USA is around $83,000 annually.
Qualifications Required: A bachelor’s degree in business administration or a related field, along with experience in banking operations management, is typically required for this job.
Financial Analyst Jobs
A financial analyst in a commercial bank is responsible for analyzing financial data and providing recommendations for investment decisions.
Job Role: Financial analysts work closely with clients to understand their financial goals and recommend the best investment options.
Job Posts Available: As of 2023, approximately 33760 financial analyst jobs are available in commercial banks in the USA, with many in the banking industry.
Salary: The average salary for a financial analyst in the USA is around $84,000 per year.
Qualifications Required: A bachelor’s degree in finance, accounting, or a related field must need for this job. Strong analytical and problem-solving skills and the ability to work well under pressure are essential. Additionally, certification such as a CFA or CPA may be required or preferred by some employers.
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Marketing Manager Jobs
A marketing manager in a commercial bank is responsible for developing and implementing marketing strategies to promote the bank’s products and services to potential customers.
Job Role: Marketing managers work closely with other departments to identify target markets, develop marketing campaigns, and analyze the effectiveness of marketing efforts.
Job Posts Available: As of 2023, there were approximately 31400 marketing manager jobs are available in commercial banks in the USA, with many of them in the banking industry.
Salary: The average salary for a marketing manager in the USA is around $125,000 per year.
Qualifications Required: A bachelor’s degree in marketing, business administration, or a related field must need for this job. Strong communication and analytical skills and the ability to work well in a team environment are essential.
Risk Manager Jobs
A risk manager in a commercial bank is responsible for identifying and analyzing potential risks to the bank’s operations and developing strategies to mitigate those risks.
Job Role: Risk managers work closely with other departments to ensure that the bank’s policies and procedures comply with regulations and identify and address potential issues.
Job Posts Available: As of 2023, there were approximately 17290 risk manager jobs are available in commercial banks in the USA, with many of them in the banking industry.
Salary: The average Salary for a risk manager in the USA is around $115,000 annually.
Qualifications Required: A bachelor’s degree in finance, economics, or a related field must need for this job. Strong analytical and problem-solving skills and the ability to work well under pressure are essential.
Compliance Officer Jobs
A compliance officer in a commercial bank is responsible for ensuring that the bank complies with all applicable laws and regulations.
Job Role: Compliance officers work closely with other departments to develop and implement policies and procedures to ensure compliance and monitor the bank’s operations for potential issues.
Job Posts Available: As of 2023, approximately 29170 compliance officer jobs are available in commercial banks in the USA, with many in the banking industry.
Salary: The average Salary for a compliance officer in the USA is around $72,000 annually.
Qualifications Required: A bachelor’s degree in business administration, finance, or a related field must need for this job. Strong analytical and problem and solving skills are essential, as well as knowledge of relevant laws and regulations.
Human Resources Manager Jobs
A human resources (HR) manager in a commercial bank is responsible for managing the bank’s human resources department, including recruitment, hiring, training, and employee relations.
Job Role: HR managers work closely with other departments to ensure the bank has the necessary workforce to meet its operational needs and develop and implement policies and procedures to manage employees effectively.
Job Posts Available: As of 2023, approximately 18300 HR manager jobs are available in commercial banks in the USA, with many in the banking industry.
Salary: The average salary for an HR manager in the USA is around $116,000 annually.
Qualifications Required: A bachelor’s degree in human resources, business administration, or a related field must need for this job. Strong interpersonal and communication skills and the ability to work well in a team environment are essential.
IT Specialist Jobs
An IT specialist in a commercial bank is responsible for managing the bank’s information technology infrastructure, including hardware, software, and networks.
Job Role: IT specialists work closely with other departments to ensure that the bank’s technology systems are secure, reliable, and efficient and troubleshoot any issues.
Job Posts Available: As of 2023, approximately 59500 IT specialist jobs are available in commercial banks in the USA, with many of them in the banking industry.
Salary: The average salary for an IT specialist in the USA is around $85,000 annually.
Qualifications Required: This job must require a bachelor’s degree in computer science, information technology, or a related field. Strong problem-solving and communication skills and the ability to stay up-to-date with the latest technological advances are essential. Additionally, some positions may require certification in specific areas of IT.
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Investment Banker Jobs
An investment banker in a commercial bank is responsible for providing financial advice and services to clients, including corporations, governments, and wealthy individuals. They help clients to raise capital, make investments, and manage risk.
Job Role: Investment bankers work in teams to identify potential clients, analyze financial data, and develop deal strategies. They also negotiate and structure transactions and may provide ongoing advice and support to clients.
Job Posts Available: As of 2023, there were approximately 7400 investment banker jobs are available in commercial banks in the USA, with many of them in the banking industry.
Salary: The average salary for an investment banker in the USA is around $117,000 annually.
Qualifications Required: A bachelor’s degree in finance, economics, or a related field must need for this job. Strong analytical and communication skills and the ability to work well in a team environment are essential. Additionally, some positions may require an advanced degree, such as an MBA.
Wealth Manager Jobs
A wealth manager in a commercial bank is responsible for providing financial advice and services to high-net-worth clients, including investment advice, tax planning, and estate planning.
Job Role: Wealth managers work closely with clients to develop and implement financial plans that meet their needs and goals. They may also manage clients’ investment portfolios and monitor market trends.
Job Posts Available: As of 2023, approximately 22400 personal financial advisor jobs are available in commercial banks in the USA, with many in the banking industry.
Salary: The average Salary for a wealth manager in the USA is around $89,000 annually.
Qualifications Required: A bachelor’s degree in finance, economics, or a related field must need for this job. Strong interpersonal and communication skills and the ability to work well in a team environment are essential. Additionally, some positions may require certification in financial planning or related areas.
Credit Analyst Jobs
A credit analyst in a commercial bank is responsible for assessing the creditworthiness of borrowers, including individuals and corporations, and recommending appropriate lending decisions.
Job Role: Credit analysts analyze financial data and other information to evaluate lending risks to potential borrowers. They may also monitor the creditworthiness of existing borrowers and make recommendations for changes to lending terms or conditions.
Job Posts Available: As of 2023, there were approximately 7300 credit analyst jobs are available in commercial banks in the USA, with many of them in the banking industry.
Salary: The average Salary for a credit analyst in the USA is around $67,000 annually.
Qualifications Required: A bachelor’s degree in finance, accounting, or a related field is typically required for this job. Strong analytical and communication skills and the ability to work well in a team environment are essential.
Branch Manager Jobs
A branch manager in a commercial bank is responsible for managing the day-to-day operations of a bank branch, including customer service, sales, and compliance with regulations and policies.
Job Role: Branch managers oversee the work of other bank employees, including tellers and customer service representatives. They also work to build relationships with customers and to meet sales goals for the branch.
Job Posts Available: As of 2023, there were approximately 45000 general and operations manager jobs are available in commercial banks in the USA, with many of them in the banking industry.
Salary: The average Salary for a branch manager in the USA is around $69,000 annually.
Qualifications Required: A bachelor’s degree in business administration, finance, or a related field is required.
Treasury Manager Jobs
Treasury managers are professionals who manage a company’s financial assets, including cash, investments, and debt.
Job Posts: Currently, over 1,300 treasury managers jobs are available in commercial banks in the US.
salary: the average salary for a treasury manager in the US is $119,803 per year.
Job Role: Treasury managers are responsible for managing a company’s cash flow, analyzing financial data, and making financial decisions that align with the company’s financial goals.
Qualifications required: A bachelor’s degree in finance, accounting, or a related field is typically required, along with relevant work experience in treasury management or a related field.
Relationship Manager Jobs
A relationship manager manages and maintains relationships with clients, addresses their needs and concerns, and ensures their satisfaction with the bank’s services.
Job Posts: there are currently over 30,000 relationship managers jobs are available in commercial banks in the United States.
Salary: The average Salary for a relationship manager in the US is around $75,000 annually.
Job Role: A relationship manager is responsible for building and maintaining strong relationships with clients, identifying their needs, and promoting bank products and services to them. They also collaborate with other departments to provide clients with the best banking experience.
Qualifications required: A bachelor’s degree in finance, business, or a related field is typically required for this position, along with relevant work experience in sales or customer service. Strong communication, interpersonal, and problem-solving skills are also essential.
Fraud Investigator Jobs
A fraud investigator is responsible for investigating and detecting fraudulent activities within a bank’s operations, such as credit card fraud, identity theft, and money laundering.
Job Posts: currently, over 6,000 fraud investigators jobs are available in commercial banks in the United States.
Salary: The average Salary for a fraud investigator in the US is around $60,000 annually.
Job Role: A fraud investigator’s main role is identifying and investigating suspicious activities, gathering evidence, and reporting findings to management. They also work with law enforcement and other stakeholders to prevent fraud and protect the bank and its clients from financial losses.
Qualifications required: A bachelor’s degree in criminal justice, accounting, or a related field is typically required for this position, along with relevant experience in fraud investigation or law enforcement. Strong analytical, communication, and investigative skills are also important.
Operations Analyst Jobs
An operations analyst analyzes and improves the bank’s operational processes, procedures, and systems to enhance efficiency and effectiveness.
Job Posts: currently, over 8,000 operations analysts jobs are available in commercial banks in the United States
Salary: The average Salary for an operations analyst in the US is around $65,000 annually.
Job Role: An operations analyst’s primary role is to identify areas of inefficiency and waste in the bank’s operations and propose solutions to improve them. They also work closely with other departments to ensure the smooth functioning of the bank’s operations and achieve organizational goals.
Qualifications required: A bachelor’s degree in business, finance, or a related field is typically required, along with relevant work experience in operations management or analysis. In addition, possessing strong analytical, problem-solving, and communication skills is required.
Product Manager Jobs
A product manager is responsible for developing and managing the bank’s products and services, from conception to launch, and ensuring their success in the market.
Job Posts: currently, over 20,000 product managers jobs are available in commercial banks in the United States.
Salary: The average salary for a product manager in the US is around $100,000 per year.
Job Role: A product manager’s primary role is to research and understand market trends and customer needs and develop and launch products and services that meet those needs. They also collaborate with other departments to ensure the successful marketing and sales of the products.
Qualifications required: A bachelor’s degree in business, marketing, or a related field is typically required for this position, along with relevant work experience in product management or marketing. Strong analytical, strategic, and communication skills are also important.
Audit Manager Jobs
An audit manager oversees and manages the bank’s internal audit functions, ensures compliance with regulations and policies, and identifies risk areas.
Job Posts: There are currently over 7,000 audit managers jobs are available in commercial banks in the United States.
Salary: The average Salary for an audit manager in the US is around $100,000 annually.
Job Role: An audit manager’s primary role is to plan, execute, and manage internal audits, identify areas of risk and non-compliance, and provide recommendations for improvement. They also ensure that the bank’s internal audit functions comply with regulations and policies.
Qualifications required: A bachelor’s degree in accounting, finance, or a related field is typically required for this position, along with relevant work experience in auditing or accounting. Professional certification such as Certified Internal Auditor (CIA) is also desirable. Strong analytical
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Salary for jobs are available in commercial banks:
| Job Title | Average annual salary |
|---|---|
| Bank Teller | $31,000 |
| Loan Officer | $54,000 |
| Customer Service Representative | $37,000 |
| Operations Manager | $75,000 |
| Financial Analyst | $65,000 |
| Marketing Manager | $83,000 |
| Risk Manager | $93,000 |
| Compliance Officer | $67,000 |
| Human Resources Manager | $85,000 |
| IT Specialist | $72,000 |
| Investment Banker | $120,000 |
| Wealth Manager | $91,000 |
| Credit Analyst | $61,000 |
| Branch Manager | $62,000 |
| Treasury Manager | $109,000 |
| Relationship Manager | $68,000 |
| Fraud Investigator | $58,000 |
| Operations Analyst | $57,000 |
| Product Manager | $96,000 |
| Audit Manager | $96,000 |
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