How to Become a Bank Manager

Bank managers are pillars of their local communities. It is through the bank they manage that the communities they serve get loans, save money, and engage in numerous other financial transactions. Read more to learn about this important position. Schools offering Finance degrees can also be found in these popular choices.

Career Overview

Bank managers ensure that the branch they are responsible for meets the needs of the community they serve while remaining profitable. They do this by ensuring day-to-day operations run smoothly and continuing to draw in new clients. The chart below shows the education requirements, job duties, and salary of bank managers.

Degree Required Bachelor's degree
Key Responsibilities Orchestrates the day-to-day operations of a bank branch
Job Growth (2016-2026) 19% (financial managers)*
Median Salary (2019) $60,410**

Sources: *U.S. Bureau of Labor Statistics, **Payscale.com

What Are the Job Duties of a Bank Manager?

Bank managers are typically responsible for a branch of a bank which is owned by a larger financial institution. They ensure that the daily operations of the bank run smoothly. This includes supervising other bank employees, managing budgets, and increasing their client base. Bank managers also ensure their branches remain profitable and have good relationships with their local communities.

What Are the Educational Requirements of a Bank Manager?

Bank managers are expected to hold a bachelor's degree from an accredited institution. Their degree is preferred to be in an area such as business, finance, economics, or a related area. Graduate degrees may not be required but they can only be beneficial when one is applying for a position. Additionally, prospective bank managers are expected to have several years of experience in the financial industry.

Where Do Bank Managers Work?

Bank managers work in a bank branch that is typically owned by another financial firm. For example, your local bank may be a Bank of America branch and your bank manager would manage that one location. Bank of America itself has multiple branches and employs many bank managers. This is a primarily indoor position but the bank manager may be required to attend outdoor community events to ensure the bank maintains a good relationship with the local community and thus increase the bank's client base.

What Personal Traits Do Bank Managers Need to Have?

Bank managers must have excellent people skills. Although banking is largely seen as a profession of numbers and spreadsheets, the job of a manager primarily focuses on people and interpersonal relationships. They must be a coach and mentor to their employees and motivate everyone to do their best. They also must work to ensure the local community has a positive opinion of the bank. A bank with no clients cannot remain open for long.

What Are Some Similar Careers?

Similar positions to that of a bank manager include operations manager and retail store manager. Operations managers typically oversee a department within a larger company just as a bank manager oversees a branch of a larger financial institution. They ensure that their companies' goods or services meet the needs of their customers and that everything runs smoothly. Retail managers oversee employees and operations at retail stores.

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