Salary of a bank teller: TD Bank Teller Annual Salaries
Tellers Career Profile | Job Description, Salary, and Growth
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
Tellers held about 378,000 jobs in 2021. 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.
Education and Training
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.
Personality and Interests
Tellers typically have an interest in the Persuading and Organizing interest areas, according to the Holland Code framework. The Persuading interest area indicates a focus on influencing, motivating, and selling to other people. The Organizing interest area indicates a focus on working with information and processes to keep things arranged in orderly systems.
If you are not sure whether you have a Persuading or Organizing interest which might fit with a career as a teller, you can take a career test to measure your interests.
Tellers should also possess the following specific 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
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.
Job Outlook
Employment of tellers is projected to decline 12 percent from 2021 to 2031.
Despite declining employment, about 35,100 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.
For More Information
For general information about the banking industry, visit
American Bankers Association
Where does this information come from?
The career information above is taken from the Bureau of Labor Statistics Occupational Outlook Handbook. This excellent resource for occupational data is published by the U.S. Department of Labor every two years. Truity periodically updates our site with information from the BLS database.
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This information is taken directly from the Occupational Outlook Handbook published by the US Bureau of Labor Statistics. Truity does not editorialize the information, including changing information that our readers believe is inaccurate, because we consider the BLS to be the authority on occupational information. However, if you would like to correct a typo or other technical error, you can reach us at [email protected].
I am not sure if this career is right for me. How can I decide?
There are many excellent tools available that will allow you to measure your interests, profile your personality, and match these traits with appropriate careers. On this site, you can take the Career Personality Profiler assessment, the Holland Code assessment, or the Photo Career Quiz.
Average Bank Teller Salary in Guyana for 2023
In this article, we will look at the average Bank Teller salary for 2023 in Guyana and how that compares to other countries and professions. We’ll also look at interesting salary data points like median salary, 25th and 75th percentile salaries, salary amounts based on experience, bonus ranges and more!
The data in this article has been compiled using official government salary data, salary surveys, and other sources such as job postings which contain salary information.
All salary information is in the local currency, which is the Guyanese dollar. To keep things simple, we are using the GYD currency code instead of the currency symbol $.
How Much Does a Bank Teller Make in Guyana?
A Bank Teller working in Guyana will typically earn around 778,500 GYD per year, and this can range from the lowest average salary of about 381,800 GYD to the highest average salary of 1,212,800 GYD.
Average Annual Salary
778,500 GYD
Average Monthly Salary
64,875 GYD
Lowest Annual Salary
381,800 GYD
Lowest Monthly Salary
31,816 GYD
Highest Annual Salary
1,212,800 GYD
Highest Monthly Salary
101,066 GYD
These are average salaries for a Bank Teller in Guyana and include benefits such as housing and transport. It’s also possible for a Bank Teller to earn more or less than the average salaries shown above.
Bank Teller salaries will vary a lot based on your experience, location, skills, and gender. Keep reading below to research more data on each of these areas.
Distribution of Bank Teller Salaries in Guyana
So we’ve looked at the average salaries a Bank Teller will earn in Guyana. The next interesting data point is the distribution of salaries.
Salary ranges
We already know that a Bank Teller can earn between 381,800 GYD and 1,212,800 GYD on average in Guyana. This is known as the range in statistics.
The difference between the maximum and minimum values is a good indicator of variability in salaries, and can be used by employers to figure out how much they can expect to pay, and for employees to know how much they can earn.
Median salary
The median salary for a Bank Teller in Guyana is 790,600 GYD. This is the middle value in the distribution of salaries.
What this means is that approximately 50% of the population earn less than 790,600 GYD, and 50% of the population earn more than 790,600 GYD.
If you are earning more than the median salary, that’s a good indicator that you are being paid well.
If you’re not earning more than the median salary, your objective should be to increase your earnings to be at least as high as the median salary (which you can do by asking for a pay rise, looking for a better paying job, etc).
Percentiles
Percentiles are similar to the median salary, but instead of looking at the middle value, they look at the values in the top and bottom half of the distribution.
For the average Bank Teller salary in Guyana, 25% of the population are earning less than 528,500 GYD while 75% of the population earn more than 528,500 GYD.
75% of the population earn less than 1,023,000 GYD, and 25% of the population earn more than 1,023,000 GYD.
Like the median salary, the 25th and 75th percentile salaries can be used to determine which quartile you fall into so that you know whether you are being paid well enough compared to others in your profession and location.
The difference between a median and an average salary
The median and average salary are both indicators you can use to see if you are being paid fairly based on the overall population.
- If your salary is higher than the average and the median salary, you are earning well compared to others.
- If your salary is lower than the average and the median salary, it could indicate you are not being paid well enough.
- If you are somewhere in between then it’s tricky to determine if you are being paid well enough and you might need to research more closely.
Bank Teller Salary by Experience Level in Guyana
The most important factor in determining your salary after the specific profession is the number of years experience you have. It stands to reason that more years of experience will result in a higher wage.
We have researched the average bank teller salary based on years of experience to give you an idea of how the average changes once you’ve worked for a certain amount of time.
- 0 – 2 Years Experience. A Bank Teller in Guyana that has less than two years of experience can expect to earn somewhere in the region of 450,300 GYD.
- 2 – 5 Years Experience. With two to five years of experience the average Bank Teller salary would increase to 580,600 GYD.
- 5 – 10 Years Experience. From five to ten years of experience as a Bank Teller, the average salary would be 799,300 GYD.
- 10 – 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 991,100 GYD.
- 15 – 20 Years Experience. A Bank Teller with 15 to 20 years of experience can earn an average of 1,062,500 GYD.
- 20+ Years Experience. For a Bank Teller with more than 20 years, the expected average salary increases to 1,134,500 GYD.
Average Salary by Experience Chart
0-2 Years |
450,300 GYD |
|
2-5 Years | +29% |
580,600 GYD |
5-10 Years | +38% |
799,300 GYD |
10-15 Years | +24% |
991,100 GYD |
15-20 Years | +7% |
1,062,500 GYD |
20+ Years | +7% |
1,134,500 GYD |
Bank Teller Salary by Education Level in Guyana
As well as experience in a job, your education plays a big role in how much you can earn. A lot of higher paying positions require a high level of education, but how much can a degree increase your salary?
In our research we have compared the salaries of employees in the same job and career level with different levels of education to see how much more you can earn at each education level.
The salary you can earn based on your education is very specific to both your location and the career path you choose.
In our research, we looked at the average salary for a Bank Teller in Guyana based on the education level of the employees in order to find out whether a better education level would increase your salary.
-
High School. A Bank Teller in Guyana with a high school education can earn an average salary of 580,600 GYD.
-
Certificate or Diploma. A Bank Teller in Guyana with a certificate or diploma education can earn an average salary of 829,000 GYD.
-
Bachelor’s Degree. A Bank Teller in Guyana with a bachelor’s degree education can earn an average salary of 1,144,400 GYD.
Average Salary by Education Chart
High School |
580,600 GYD |
|
Certificate or Diploma | +43% |
829,000 GYD |
Bachelor’s Degree | +38% |
1,144,400 GYD |
How Much is a Master’s Degree or MBA Program?
The approximate cost of a master’s degree or post-graduate program like an MBA in Guyana is around 876,000 to 2,630,000 GYD and takes two years to complete.
As you can see above, there are financial benefits from reaching master’s degree level, but don’t expect to see much of a salary increase until you have completed the degree.
It’s common for people to pursue an MBA or other post-graduate program in order to switch to a a job that pays more. On average, you can expect to earn around 10% more when switching to a new company.
Whether you decide to pursue a master’s degree depends on many factors. If you are able to afford it, the numbers suggest that the return on investment is worth it and you could recover the costs in a few years from the salary increase you would receive.
Bank Teller Salary Compared by Gender
In the modern age, we know that there should never be a pay gap between men and women. Unfortunately, in many professions, there is still a significant difference between the salaries earned by men when compared to the salary of women in the same job.
In Guyana, a male bank teller will earn an average of 800,200 GYD, while a female bank teller will earn around 743,100 GYD.
This means that a male bank teller earns approximately 8% more than a female bank teller for performing the same job.
Average Salary by Gender Chart in Guyana
Male |
800,200 GYD |
|
Female | -8% |
743,100 GYD |
Bank Teller Average Pay Raise in Guyana
In many countries, an annual pay raise is often given to employees to reward their service with a salary increase.
From our research, we can see that the average pay raise for a Bank Teller in Guyana is around 7% every 27 months.
The national average pay raise across all professions and industries in Guyana is around 4% every 29 months.
In this case, we can see that the number of months between the average pay raise is higher than the typical 12 months.
To make the data more meaningful, we can calculate what the approximate annual pay raise would be using a simple formula:
Annual Increase = ( Increase Rate ÷ Months ) × 12
So for this example, it would be:
Annual Increase = ( 7 ÷ 27 ) × 12 = 3%
What this means is that a Bank Teller in Guyana can expect to receive an average pay raise of around 3% every 12 months.
Annual Pay Raise by Industry in Guyana for 2023
In the chart below, you can see the average annual pay raise percentages for each of the major industries in Guyana.
You will see that companies in bigger and more lucrative industries tend to have the higher annual pay raises.
Banking |
3% |
|
Energy |
6% |
|
Information Technology |
9% |
|
Healthcare |
3% |
|
Travel |
6% |
|
Construction |
9% |
|
Education |
3% |
Bank Teller Bonus and Incentive Rates in Guyana
Another part of your overall compensation in a job is how much bonus you receive. Some job roles will be more likely to pay a bonus than others and also more likely to have higher bonus rates.
Generally speaking, jobs that are more involved with direct revenue generation will receive higher bonuses based on the performance towards revenue goals.
A Bank Teller is a low bonus based job, with 12% of employees reporting at least one bonus in the last 12 months.
88% reported that they had not received any bonuses in the previous 12 months.
For the employees that did receive a bonus in the previous 12 months, the reported bonuses ranged from 0% to 4%.
Received Bonus |
12% |
|
No Bonus |
88% |
What are the Types of Bonus?
There are a number of difference types of bonus you can receive in a job. Including:
- Individual performance bonus – This is a bonus that is awarded to an individual employee for general performance in the job. It’s the most common type of bonus.
- Company performance bonus – This is a bonus that is awarded to a company employees to share profit with the staff.
- Goal based bonus – This is a bonus that is awarded to an individual employee (or a team) for achieving specific goals, objectives, or milestones.
- Holiday bonus – This type of bonus is usually paid around the holidays, often the end of the year, and is a token of appreciation for the hard work throughout the year.
Government vs Private Sector Salaries
Another commonly asked question is whether you get paid a higher salary working in the public (government) sector or the private sector.
Public sector employees in Guyana earn approximately 14% more than private sector employees in the same role.
Public Sector |
2,266,400 GYD |
|
Private Sector | -14% |
1,990,300 GYD |
Salaries for Jobs Similar to a Bank Teller
In the table below, we have salary information for jobs that are similar to a Bank Teller in Guyana.
Job Title | Category | Salary |
---|---|---|
AML Analyst | Banking | 3,132,800 GYD |
Assistant Bank Branch Manager | Banking | 2,543,000 GYD |
Assistant Bank Manager | Banking | 3,503,800 GYD |
ATM Manager | Banking | 2,941,000 GYD |
ATM Service Technician | Banking | 805,900 GYD |
Bank Accounts Analyst | Banking | 1,114,700 GYD |
Bank Accounts Collector | Banking | 702,800 GYD |
Bank Accounts Controller | Banking | 1,537,500 GYD |
Bank Accounts Executive | Banking | 2,266,400 GYD |
Bank Accounts Manager | Banking | 2,617,900 GYD |
Bank Auditing Manager | Banking | 2,566,100 GYD |
Bank Branch Manager | Banking | 3,490,200 GYD |
Bank Branch Operations Coordinator | Banking | 1,621,400 GYD |
Bank Clerk | Banking | 706,200 GYD |
Bank Client Service Associate | Banking | 971,200 GYD |
Bank Collector | Banking | 719,100 GYD |
Bank Compliance Specialist | Banking | 1,921,500 GYD |
Bank Manager | Banking | 4,056,200 GYD |
Bank Operational Risk Manager | Banking | 4,260,400 GYD |
Bank Operations Head | Banking | 4,211,600 GYD |
Bank Operations Officer | Banking | 1,693,600 GYD |
Bank Operations Specialist | Banking | 2,519,500 GYD |
Bank Process Manager | Banking | 2,290,300 GYD |
Bank Product Manager | Banking | 2,662,900 GYD |
Bank Programme Manager | Banking | 2,773,700 GYD |
Bank Project Manager | Banking | 3,299,800 GYD |
Bank Propositions Manager | Banking | 2,976,900 GYD |
Bank Quantitative Analyst | Banking | 2,124,400 GYD |
Bank Regional Manager | Banking | 4,297,400 GYD |
Bank Regional Risk Officer | Banking | 2,230,100 GYD |
Bank Relationship Manager | Banking | 3,132,800 GYD |
Bank Relationship Officer | Banking | 1,487,200 GYD |
Banker | Banking | 1,487,200 GYD |
Banking Business Analyst | Banking | 2,230,100 GYD |
Banking Business Development Officer | Banking | 1,440,700 GYD |
Banking Business Planning Executive | Banking | 3,085,500 GYD |
Banking Product Manager | Banking | 2,794,600 GYD |
Banking Reference Data Manager | Banking | 2,401,300 GYD |
Banking Risk Analyst | Banking | 2,065,400 GYD |
Banking Technical Analyst | Banking | 1,117,800 GYD |
Bankruptcy Coordinator | Banking | 1,487,200 GYD |
Bill and Account Collector | Banking | 810,500 GYD |
Budget Analyst | Banking | 2,076,600 GYD |
Capital Risk Manager | Banking | 4,067,600 GYD |
Cards Marketing Manager | Banking | 2,629,100 GYD |
Cash Management Manager | Banking | 3,996,300 GYD |
Check Processing Manager | Banking | 2,928,100 GYD |
Commercial Vault Associate | Banking | 2,161,200 GYD |
Corporate Banker | Banking | 1,645,600 GYD |
Corporate Dealer | Banking | 2,184,900 GYD |
Credit Analyst | Banking | 1,728,900 GYD |
Credit and Collections Manager | Banking | 2,976,900 GYD |
Credit Card Fraud Investigator | Banking | 2,254,400 GYD |
Credit Portfolio Manager | Banking | 4,116,600 GYD |
Credit Risk Analyst | Banking | 2,495,600 GYD |
Credit Risk Associate | Banking | 2,254,400 GYD |
Direct Bank Sales Representative | Banking | 1,537,500 GYD |
Exchange Control Consultant | Banking | 2,314,800 GYD |
Executive Account Analyst | Banking | 2,197,700 GYD |
Financial Bank Planning Consultant | Banking | 2,844,200 GYD |
Financial Banking Analysis Manager | Banking | 3,156,400 GYD |
Financial Banking Assistant | Banking | 1,012,100 GYD |
Financial Banking Systems Manager | Banking | 2,878,300 GYD |
Foreign Exchange Manager | Banking | 3,061,300 GYD |
Fraud Analyst | Banking | 2,327,100 GYD |
Fraud Detection Associate | Banking | 1,655,500 GYD |
Fraud Detection Manager | Banking | 3,577,600 GYD |
Fraud Detection Supervisor | Banking | 1,990,300 GYD |
Internal Bank Audit Manager | Banking | 4,102,700 GYD |
Internal Bank Auditor | Banking | 2,173,000 GYD |
Internal Private Banker | Banking | 1,570,900 GYD |
International Banking Manager | Banking | 4,548,600 GYD |
Investment Banking Analyst | Banking | 3,144,700 GYD |
Loan Analyst | Banking | 2,266,400 GYD |
Loan Area Manager | Banking | 2,543,000 GYD |
Loan Audit Team Leader | Banking | 2,374,400 GYD |
Loan Branch Manager | Banking | 2,579,200 GYD |
Loan Business Development Officer | Banking | 1,380,400 GYD |
Loan Clerk | Banking | 805,900 GYD |
Loan Collection and Recovery Manager | Banking | 2,688,800 GYD |
Loan Collection Manager | Banking | 2,698,900 GYD |
Loan Collector | Banking | 727,400 GYD |
Loan Examiner | Banking | 962,900 GYD |
Loan Officer | Banking | 836,500 GYD |
Loan Processing Manager | Banking | 2,362,300 GYD |
Loan Processor | Banking | 979,600 GYD |
Loan Quality Assurance Auditor | Banking | 2,184,900 GYD |
Loan Quality Assurance Manager | Banking | 2,411,500 GYD |
Loan Quality Assurance Representative | Banking | 1,594,500 GYD |
Loan Review Manager | Banking | 2,389,200 GYD |
Loan Team Leader | Banking | 2,124,400 GYD |
Loans Manager | Banking | 2,807,200 GYD |
Mortgage Advisor | Banking | 1,594,500 GYD |
Mortgage Collection Manager | Banking | 2,676,200 GYD |
Mortgage Collector | Banking | 743,100 GYD |
Mortgage Credit Analyst | Banking | 1,198,200 GYD |
Mortgage Credit Manager | Banking | 2,508,300 GYD |
Mortgage Development Manager | Banking | 2,854,700 GYD |
Mortgage Document Reviewer | Banking | 965,000 GYD |
Mortgage Funding Manager | Banking | 2,844,200 GYD |
Mortgage Operations Manager | Banking | 3,659,400 GYD |
Mortgage Payment Processing Clerk | Banking | 802,400 GYD |
Mortgage Processing Manager | Banking | 2,495,600 GYD |
Mortgage Processor | Banking | 974,600 GYD |
Mortgage Quality Assurance Auditor | Banking | 2,281,800 GYD |
Mortgage Quality Assurance Manager | Banking | 2,593,900 GYD |
Mortgage Servicing Clerk | Banking | 745,000 GYD |
Mortgage Servicing Manager | Banking | 2,352,500 GYD |
Mortgage Underwriter | Banking | 962,300 GYD |
Online Banking Manager | Banking | 3,840,400 GYD |
Payment Processing Clerk | Banking | 778,200 GYD |
Personal Banker | Banking | 1,632,100 GYD |
Personal Banking Advisor | Banking | 1,594,500 GYD |
Phone Banker | Banking | 1,079,600 GYD |
Private Banker | Banking | 1,570,900 GYD |
Reconciliation and Investigation Specialist | Banking | 1,858,200 GYD |
Tax Officer | Banking | 1,259,300 GYD |
Teller | Banking | 727,400 GYD |
Trade Officer | Banking | 860,300 GYD |
Trade Product Manager | Banking | 2,698,900 GYD |
Trader | Banking | 1,122,500 GYD |
Treasury Operations Officer | Banking | 2,026,800 GYD |
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123456more 9 0004
cashier
accountant-cashier
cashier-operator
senior cashier
cashier of the counting cash desk
foreign exchange cashier
cashier at a car dealership
senior cashier-operator
recalculation cashier
weekend cashier
- Part-time job
- Daily
- Last three days
- No work experience
- Full time
- Part time
- Project work
- Full time
- Shift work
- Remote work
- Flexible schedule
- From direct employers
- For people with disabilities
9051 3 Shift schedule