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Low bank wages costing the public millions, report says
Almost a third of the country’s half-million bank tellers rely on some form of public assistance to get by, according to a report due out Wednesday.
Researchers say taxpayers are doling out nearly $900 million a year to supplement the wages of bank tellers, which amounts to a public subsidy for multibillion-dollar banks. The workers collect $105 million in food stamps, $250 million through the earned income tax credit and $534 million by way of Medicaid and the Children’s Health Insurance Program, according to the University of California at Berkeley’s Labor Center.
I imagine that a lot of tellers are part time and make around 8 or 9 dollars an hour, so it is not really news at all, is it? The same can be said about anyone making low wages working for any company. You will find the same for food service, retail, cashiers, etc., etc. But banks have lots of money! News flash: so does every other business who employees thousands and thousands of minimum wage to 10 dollar an hour employees.
I imagine that a lot of tellers are part time and make around 8 or 9 dollars an hour, so it is not really news at all, is it? The same can be said about anyone making low wages working for any company. You will find the same for food service, retail, cashiers, etc., etc. But banks have lots of money! News flash: so does every other business who employees thousands and thousands of minimum wage to 10 dollar an hour employees.
Like McDonald's hamburger flippers it is not meant to be a career move.
It's entry level. You start there, work your way up the bank ladder. Teller Managers make decent money. Lateral moves to banker with training/education.
Easy hours.
No grease filled aprons, you wear dress clothes.
Sounds a lot better than McDonalds, fools.
Bank teller is entry level, with pressure to sell. Moving out of the branch is extremely difficult. I had to leave for another job because I needed better pay and better opportunity. If there had been opportunity in corp, I would not have left.
How is this different than ANY customer service oriented position? Our economic milieu is orienting toward simple customer service work, with few opportunities for advancement. It's no surprise that people at the bottom who do not have an opportunity to move up end up on social assistance programs.
How is this different than ANY customer service oriented position? Our economic milieu is orienting toward simple customer service work, with few opportunities for advancement. It's no surprise that people at the bottom who do not have an opportunity to move up end up on social assistance programs.
That's IF you can get on social assistance programs. People make it out like it's the easiest thing in the world to get on that ****. Maybe I needed to have some kids, then I would qualify?
Emigrations, you're right on the any customer service job. I don't know how many times I have seen stated that Walmart's profits are subsidized by the tax payer.
How is this different than ANY customer service oriented position? Our economic milieu is orienting toward simple customer service work, with few opportunities for advancement. It's no surprise that people at the bottom who do not have an opportunity to move up end up on social assistance programs.
Everyone has the opportunity to move up. They just don't have the PERSONAL vision or ambition to do it.
You're a bank teller? Great experience. Go to a community college. Take 1 or 2 low level accounting courses and get a job doing accounts receivable/payable. Then when you get that job, use the company's tuition reimbursement to get a degree in whatever field you want. Since you work for a bank, get a degree in business or finance. After that, you can move up within the same bank or move on to a national bank.
Some people don't know how to do long term career planning. They assume that they will magically land on a career in one fell swoop. It doesn't work that way.
When I was early in my career, I would have killed for a job as a bank teller.
Bank teller is entry level, with pressure to sell. Moving out of the branch is extremely difficult. I had to leave for another job because I needed better pay and better opportunity. If there had been opportunity in corp, I would not have left.
I work for one of the largest banks in the country - I can tell you that our tellers make decent money and if they are good move up.
One of my co-workers took a job after college three years ago, within 6 months she was a lead teller, in another six months she was working in as a Relationship Associate. Then she got her masters while working and is in the Credit Analyst program. 25 years old and on her way to six figures!
If you have talent and drive you can do it - she is not the only one but she has been exceptional.
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