Branch Manager

Career Overview

Branch managers supervise all of the functions of a financial institution's branch office. Bank branch managers have a great deal of autonomy regarding personnel. Usually they have final approval over loan applications and lines of credit. They must work to stay current on the constant flow of new or reconstituted products that other financial institutions are rolling out.

Education

Many bank managers come up through the ranks, starting out as loan officers or even tellers. A bachelor's degree in finance or business administration is sufficient for a bank branch manager, but moving further up in the bank's organization may require the addition of a master's degree.

Employment

Bank branch managers are seeing an overall reduction in jobs as commercial banks are closing non-productive branches during the 2009 recession. Some banks have closed up altogether. The internet has taken up some of the consumer bank traffic, and lack of lending capital has further reduced the productivity of branch banks in many sections of the country.

Job Outlook

The job market is competitive and will continue to be. Banks are also broadening their product lines to include insurance and investment products, so a branch manager will need to be familiar with those markets as well. Experience in a variety of finance product lines will be valuable to bank branch job applicants.

Salary

Lowest 10% $39,787

Median Salary $50,800

Highest 10% $61,650

Source: Salary.com