Profession seen as a stepping stone to higher-paying jobs in banking industry
By Deborah Jeanne Sergeant
It may seem like working as a bank teller is a low-paying, entry-level job that won’t lead far; however, it can represent a way to get into the banking industry and in time lead to higher-paying positions.
About 1.7 million people nationwide work in retail banking and of those, nearly three-quarters (74.1%) receive less than $15 hourly, according to National Employment Law Project. The Bureau of Labor Statistics says that there 680 people employed as tellers in the Syracuse area. Their annual mean wage of $37,010 ($17.79 per hour).
That’s not much of a wage, but the chance to advance can attract some applicants.
A story published in the June–July 2024 issue of Oswego County Business Magazine highlighted high-ranking women in the Central New York banking sector. Of the 15 women featured, at least 20% began their careers as tellers. For example, Jennifer Rupert, now CEO of Compass Credit Union, started as a part-time employee at the credit union and worked her way up to the top position.
However, working long-term as a teller may not provide much opportunity. The bureau states that the rate of employment for bank tellers is on the decline by 13% from previous years. It’s likely that the shift to online banking is contributing to the trend.
But working as a teller can prove a steppingstone to further roles.
“At NBT Bank, we’re committed to helping our team members grow into the next generation of branch and market leaders,” said Lori Teifke, NBT Bank territory manager. “With that goal in mind, and advancements in banking technology, we have evolved from the traditional ‘teller’ model to a more dynamic approach that involves a relationship banker partnering to support customer needs. Our relationship bankers provide personalized financial guidance, creating deeper connections with our customers.”
NBT views the relationship banker role as a means to both connect with customers and to help employees grow professionally within the organization. Promoting from within rather than hiring people from outside the organization can help companies save money.
On average, employers spend $4,700 when on-boarding a new employee, according to the Society for Human Resource Management. Some organizations estimate the hard costs (such as advertising, equipment and supplies) added with the soft costs (such as training time and downtime) equals four times the person’s starting salary.
“The relationship banker role offers a clear path for advancement, starting with the foundational position of relationship banker associate,” Teifke said. “As associates gain experience, they can progress to more senior roles and even lead teams, with growth determined by their performance, dedication and ambition.”
NBT also develops their team members’ careers further through programs targeting employees at all levels of experience. A Gallup poll released in Oct. 2025 states that 25% of Americans asked said that their company does not offer advancement opportunities. The Bureau of Labor Statistics states that only a high school diploma is needed for people applying to work as a bank teller. The aforementioned Gallup poll related that only 57% of people with a high school education or less say advancement opportunities exist at their organization, compared with 61% of those with some college but no degree, 63% with an associate degree, 68% with a bachelor’s degree and 67% with a graduate degree.
“To support career development, NBT offers a number of programs aimed at all levels of experience,” Teifke said. “From entry to more senior positions, these programs are designed to support team members as they advance in their careers. At NBT, we believe that investing in our employees strengthens our organization, and when our team members thrive, so do our customers.”
