Bank Branch Managers

Employment for branch managers should only be fair in coming years. The popularity of mobile and online banking has reduced the types of transactions formerly handled by bank branches and live tellers. For example, more consumers were using mobile phones to photograph and deposit paper checks instead of visiting their local branch. Additionally, video kiosks and enhanced ATMs capable of issuing debit cards and performing other higher-level tasks resulted in smaller staffs at existing branches. Between 2022 and 2032, the U.S. Department of Labor anticipates that employment of bank tellers will plummet 15 percent, resulting in the loss of 52,900 jobs. As banks scale back their employees and locations (in many areas), branch managers will be impacted.

On the other hand, despite bank executives’ hopes that customers will migrate toward online banking, studies have shown that U.S. consumers are not ready to give up visits to their neighborhood bank branch. Some bank executives believe that branches are crucial for developing new business, increasing business with current customers, and serving the needs of small businesses (e.g., large cash deposits, face-to-face business loan negotiation). In the event that bank branches are opened or reopened, staffing cuts will more readily affect tellers and customer service representatives, rather than branch managers. Additionally, opportunities for branch managers may be better in cities that are experiencing strong population growth, as banks add branches to meet customer demand.