working condition in the bank

Working Conditions About this section

Hours. The average workweek for nonsupervisory workers in depository credit intermediation was 36.2 hours in 2008. About 8 percent of employees in 2008, mostly tellers, worked part time.
Employees in a typical branch work weekdays, some evenings if the bank is open late, and Saturday mornings. However, banks are increasingly expanding the hours that their branches are open and opening branches in nontraditional locations. For example, hours may be longer for workers in bank branches located in grocery stores, which are open most evenings and weekends. To improve customer service and provide greater access to bank personnel, banks have phone centers, staffed by customer service representatives. Employees of phone centers spend most of their time answering phone calls from customers and often work evening and weekend shifts.
Administrative support employees normally work in large processing facilities in the banks' headquarters or other administrative offices. Most support staff work a standard 40-hour week; some may work overtime. Those support staff located in the processing facilities may work evening shifts.
Work environment. Branch office jobs, particularly teller positions, require continual communication with customers, repetitive tasks, and a high level of attention to security. Tellers also work for long periods in a confined space.

Commercial and mortgage loan officers often work out of the office, visiting clients, checking loan applications, and soliciting new business. Loan officers may travel to meet clients, or work evenings if that is the only time at which a client can meet. Financial service-sales representatives also may visit clients in the evenings and on weekends to go over the client's financial needs.
The remaining employees located primarily at the headquarters or other administrative offices usually work in comfortable surroundings and put in a standard workweek. In general, banks are relatively safe places to work.

Employment About this section

The banking industry employed about 1.8 million wage and salary workers in 2008. About 74 percent of jobs were in commercial banks; the remainder were concentrated in savings institutions and credit unions (table 1).

Table 1. Percent distribution of employment and establishments in banking by detailed industry sector, 2008

Industry segment	Employment	Establishments
Total	100.0	100.0
Monetary authorities - central bank	1.2	0.4
Depository credit intermediation	98.8	99.6
Commercial banking	73.8	71.7
Credit unions	12.6	13.8
Savings institutions	11.4	13.1
Other depository credit intermediation	1.0	1.0
SOURCE: BLS Quarterly Census of Employment and Wages, 2008.

In 2008, about 85 percent of establishments in banking employed fewer than 20 workers. However, these small establishments, mostly bank branch offices, employed 38 percent of all employees. Banks are found everywhere in the United States, but most bank employees work in heavily populated States such as New York, California, Illinois, North Carolina, Pennsylvania, and Texas.

Occupations in the Industry About this section

Banks employ various types of financial and customer service occupations. Office and administrative support occupations make up the largest portion of jobs in the industry, while management, business, and financial occupations also employ a significant number of employees in the banking industry.
Office and administrative support occupations. These occupations account for 64 percent of jobs in the banking industry (table 2). Bank tellers, the largest occupation, provide routine financial services to the public. They handle customers' deposits and withdrawals, change money, sell money orders and traveler's checks, and accept payment for loans. Tellers also sell bank services to customers. New accounts clerks and customer service representatives answer questions from customers, and help them open and close accounts and apply for banking services. They are knowledgeable about a broad array of bank services and must be able to sell those services to potential clients. Some customer service representatives work in a call or customer contact center environment, taking phone calls and answering emails from customers. In addition to responding to inquiries, these workers also help customers over the phone with routine banking transactions, and handle and resolve problems or complaints.
Loan and credit clerks assemble and prepare paperwork, process applications, and complete the documentation after a loan or line of credit has been approved. They also verify applications for completeness. Bill and account collectors attempt to collect payments on overdue loans. Many general office clerks and bookkeeping, accounting, and auditing clerks are employed to maintain financial records, enter data, and process the thousands of deposit slips, checks, and other documents that banks handle daily. Banks also employ many secretaries, data entry and information processing workers, receptionists, and other office and administrative support workers. Office and administrative support worker supervisors and managers oversee the activities and training of workers in the various administrative support occupations.
Management, business, and financial occupations. These occupations account for about 25 percent of employment in the banking industry. Financial managers direct bank branches and departments, resolve customers' problems, ensure that standards of service are maintained, and administer the institutions' operations and investments. Loan officers evaluate loan applications, determine an applicant's ability to repay a loan, and recommend approval of loans. They usually specialize in commercial, consumer, or mortgage lending. When loans become delinquent, loan officers, or loan counselors, may advise borrowers on the management of their finances or take action to collect outstanding amounts. Loan officers also play a major role in bringing in new business and spend much of their time developing relationships with potential customers. Trust officers manage a variety of assets that were placed in trust with the bank for other people or organizations; these assets can include pension funds, school endowments, or a company's profit-sharing plan. Sometimes, trust officers act as executors of estates upon a person's death. They also may work as accountants, lawyers, and investment managers.