Work Environment
Tellers held about 432,500 jobs in 2020. 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.
Job Outlook
Employment of tellers is projected to decline 17 percent from 2020 to 2030.
Despite declining employment, about 33,700 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. The rise of online and mobile banking allows customers to handle many transactions traditionally performed by tellers, such as depositing checks. As more people use these tools, fewer bank customers will visit the teller window. This will result in decreased demand for tellers.
In addition, automation is expected to lead to fewer tellers per bank branch. Some banks are developing video kiosks that allow customers to interact with tellers through webcams at ATMs. This 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 emerging 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. This will allow for far greater productivity for tellers, as they will be left with only the most complex customer service tasks. This also will result in fewer tellers employed per bank branch.
Earnings
The median annual wage for tellers was $36,310 in May 2021. 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 $28,120, and the highest 10 percent earned more than $46,320.
In May 2021, the median annual wages for tellers in the top industries in which they worked were as follows:
- Credit intermediation and related activities - $36,280
- Management of companies and enterprises - $35,940
Most tellers work full time.
