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Summary

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Video transcript available at https://www.youtube.com/watch?v=pRj54JuKvxk.
Quick Facts: Tellers
2023 Median Pay $37,640 per year
$18.10 per hour
Typical Entry-Level Education High school diploma or equivalent
Work Experience in a Related Occupation None
On-the-job Training Short-term on-the-job training
Number of Jobs, 2023 350,300
Job Outlook, 2023-33 -15% (Decline)
Employment Change, 2023-33 -51,400

What Tellers Do

Tellers are responsible for accurately processing routine transactions at a bank.

Work Environment

Most tellers work in bank branches.

How to Become a Teller

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.

Pay

The median annual wage for tellers was $37,640 in May 2023.

Job Outlook

Employment of tellers is projected to decline 15 percent from 2023 to 2033.

Despite declining employment, about 27,300 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.

State & Area Data

Explore resources for employment and wages by state and area for tellers.

Similar Occupations

Compare the job duties, education, job growth, and pay of tellers with similar occupations.

More Information, Including Links to O*NET

Learn more about tellers by visiting additional resources, including O*NET, a source on key characteristics of workers and occupations.

What Tellers Do About this section

Tellers
Tellers verify a customer’s identity and financial information before processing a transaction.

Tellers are responsible for accurately processing routine transactions at a bank. These transactions include cashing checks, depositing money, and collecting loan payments.

Duties

Tellers typically do the following:

  • Count the cash in their drawer at the start of their shift
  • Accept checks, cash, and other forms of payment from customers
  • Answer questions from customers about their accounts
  • Prepare specialized types of funds, such as traveler’s checks, savings bonds, and money orders
  • Exchange dollars for foreign currency
  • Order bank cards and checks for customers
  • Record all transactions electronically throughout their shift
  • Count the cash in their drawer at the end of their shift and make sure the amounts balance

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.

Work Environment About this section

Tellers
Most tellers work in bank branches.

Tellers held about 350,300 jobs in 2023. The largest employers of tellers were 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.

Work Schedules

Most tellers work full time.

How to Become a Teller About this section

Tellers
Tellers must be friendly, helpful, and patient when interacting with bank customers.

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.

Education

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.

Training

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.

Advancement

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.

Important Qualities

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.

Pay About this section

Tellers

Median annual wages, May 2023

Total, all occupations

$48,060

Financial clerks

$45,790

Tellers

$37,640

 

The median annual wage for tellers was $37,640 in May 2023. 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 $29,720, and the highest 10 percent earned more than $46,950.

In May 2023, the median annual wages for tellers in the top industries in which they worked were as follows:

Management of companies and enterprises $39,100
Credit intermediation and related activities 37,600

Most tellers work full time.

Job Outlook About this section

Tellers

Percent change in employment, projected 2023-33

Total, all occupations

4%

Financial clerks

-6%

Tellers

-15%

 

Employment of tellers is projected to decline 15 percent from 2023 to 2033.

Despite declining employment, about 27,300 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.

Employment

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. As more people use online banking tools, such as mobile check deposits, fewer bank customers will visit the teller window. This should result in decreased demand for tellers.

In addition, automation is expected to lead to fewer tellers per bank branch. For example, video kiosks that allow customers to interact with tellers through webcams at ATMs 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 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. The use of these machines will improve teller productivity and allow workers to focus on only the most complex customer service tasks, which in turn is expected to lower demand for these workers.

Employment projections data for tellers, 2023-33
Occupational Title SOC Code Employment, 2023 Projected Employment, 2033 Change, 2023-33 Employment by Industry
Percent Numeric

SOURCE: U.S. Bureau of Labor Statistics, Employment Projections program

Tellers

43-3071 350,300 298,800 -15 -51,400 Get data

State & Area Data About this section

Occupational Employment and Wage Statistics (OEWS)

The Occupational Employment and Wage Statistics (OEWS) program produces employment and wage estimates annually for over 800 occupations. These estimates are available for the nation as a whole, for individual states, and for metropolitan and nonmetropolitan areas. The link(s) below go to OEWS data maps for employment and wages by state and area.

Projections Central

Occupational employment projections are developed for all states by Labor Market Information (LMI) or individual state Employment Projections offices. All state projections data are available at www.projectionscentral.org. Information on this site allows projected employment growth for an occupation to be compared among states or to be compared within one state. In addition, states may produce projections for areas; there are links to each state’s websites where these data may be retrieved.

CareerOneStop

CareerOneStop includes hundreds of occupational profiles with data available by state and metro area. There are links in the left-hand side menu to compare occupational employment by state and occupational wages by local area or metro area. There is also a salary info tool to search for wages by zip code.

Similar Occupations About this section

This table shows a list of occupations with job duties that are similar to those of tellers.

Occupation Job Duties ENTRY-LEVEL EDUCATION Help on Entry-Level Education 2023 MEDIAN PAY Help on Median Pay
Bookkeeping, accounting, and auditing clerks Bookkeeping, Accounting, and Auditing Clerks

Bookkeeping, accounting, and auditing clerks produce financial records for organizations and check financial records for accuracy.

Some college, no degree $47,440
Cashiers Cashiers

Cashiers process payments from customers purchasing goods and services.

No formal educational credential $29,720
Customer service representatives Customer Service Representatives

Customer service representatives interact with customers to handle complaints, process orders, and answer questions.

High school diploma or equivalent $39,680
Information clerks Information Clerks

Information clerks perform routine clerical duties, maintain records, collect data, and provide information to customers.

See How to Become One $40,540
Loan officers Loan Officers

Loan officers evaluate, authorize, or recommend approval of loan applications.

Bachelor's degree $69,990
Receptionists Receptionists

Receptionists do tasks such as answering phones, receiving visitors, and providing information about their organization to the public.

High school diploma or equivalent $35,840
Suggested citation:

Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, Tellers,
at https://www.bls.gov/ooh/office-and-administrative-support/tellers.htm (visited October 02, 2024).

Last Modified Date: Thursday, August 29, 2024

What They Do

The What They Do tab describes the typical duties and responsibilities of workers in the occupation, including what tools and equipment they use and how closely they are supervised. This tab also covers different types of occupational specialties.

Work Environment

The Work Environment tab includes the number of jobs held in the occupation and describes the workplace, the level of physical activity expected, and typical hours worked. It may also discuss the major industries that employed the occupation. This tab may also describe opportunities for part-time work, the amount and type of travel required, any safety equipment that is used, and the risk of injury that workers may face.

How to Become One

The How to Become One tab describes how to prepare for a job in the occupation. This tab can include information on education, training, work experience, licensing and certification, and important qualities that are required or helpful for entering or working in the occupation.

Pay

The Pay tab describes typical earnings and how workers in the occupation are compensated—annual salaries, hourly wages, commissions, tips, or bonuses. Within every occupation, earnings vary by experience, responsibility, performance, tenure, and geographic area. For most profiles, this tab has a table with wages in the major industries employing the occupation. It does not include pay for self-employed workers, agriculture workers, or workers in private households because these data are not collected by the Occupational Employment and Wage Statistics (OEWS) survey, the source of BLS wage data in the OOH.

State & Area Data

The State and Area Data tab provides links to state and area occupational data from the Occupational Employment and Wage Statistics (OEWS) program, state projections data from Projections Central, and occupational information from the Department of Labor's CareerOneStop.

Job Outlook

The Job Outlook tab describes the factors that affect employment growth or decline in the occupation, and in some instances, describes the relationship between the number of job seekers and the number of job openings.

Similar Occupations

The Similar Occupations tab describes occupations that share similar duties, skills, interests, education, or training with the occupation covered in the profile.

Contacts for More Information

The More Information tab provides the Internet addresses of associations, government agencies, unions, and other organizations that can provide additional information on the occupation. This tab also includes links to relevant occupational information from the Occupational Information Network (O*NET).

2023 Median Pay

The wage at which half of the workers in the occupation earned more than that amount and half earned less. Median wage data are from the BLS Occupational Employment and Wage Statistics survey. In May 2023, the median annual wage for all workers was $48,060.

On-the-job Training

Additional training needed (postemployment) to attain competency in the skills needed in this occupation.

Entry-level Education

Typical level of education that most workers need to enter this occupation.

Work experience in a related occupation

Work experience that is commonly considered necessary by employers, or is a commonly accepted substitute for more formal types of training or education.

Number of Jobs, 2023

The employment, or size, of this occupation in 2023, which is the base year of the 2023-33 employment projections.

Job Outlook, 2023-33

The projected percent change in employment from 2023 to 2033. The average growth rate for all occupations is 4 percent.

Employment Change, 2023-33

The projected numeric change in employment from 2023 to 2033.

Entry-level Education

Typical level of education that most workers need to enter this occupation.

On-the-job Training

Additional training needed (postemployment) to attain competency in the skills needed in this occupation.

Employment Change, projected 2023-33

The projected numeric change in employment from 2023 to 2033.

Growth Rate (Projected)

The percent change of employment for each occupation from 2023 to 2033.

Projected Number of New Jobs

The projected numeric change in employment from 2023 to 2033.

Projected Growth Rate

The projected percent change in employment from 2023 to 2033.

2023 Median Pay

The wage at which half of the workers in the occupation earned more than that amount and half earned less. Median wage data are from the BLS Occupational Employment and Wage Statistics survey. In May 2023, the median annual wage for all workers was $48,060.