A bank teller (often abbreviated to simply teller) is an employee of a bank whose responsibilities include the handling of customer cash and negotiable instruments. Most banks provide on-the-job training. Tellers are considered a “front line” in banking because they deal with routine customer business.
Below are salaries earned by Bank Tellers In South Africa
A person working as a Bank Teller in South Africa typically earns around 11,900 ZAR per month. Salaries range from 6,180 ZAR (lowest) to 18,200 ZAR (highest).
This is the average monthly salary including housing, transport, and other benefits. Teller salaries vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.
Teller Salary Distribution in South Africa
The median, the maximum, the minimum, and the range
Teller salaries in South Africa range from 6,180 ZAR per month (minimum salary) to 18,200 ZAR per month (maximum salary).
The median salary is 11,400 ZAR per month, which means that half (50%) of people working as Teller(s) are earning less than 11,400 ZAR while the other half are earning more than 11,400 ZAR. The median represents the middle salary value. Generally speaking, you would want to be on the right side of the graph with the group earning more than the median salary.
Closely related to the median are two values: the 25th and the 75th percentiles. Reading from the salary distribution diagram, 25% of Teller(s) are earning less than 7,920 ZAR while 75% of them are earning more than 7,920 ZAR. Also from the diagram, 75% of Teller(s) are earning less than 14,200 ZAR while 25% are earning more than 14,200 ZAR.
Teller Salary Comparison by Years of Experience
How do experience and age affect your pay?
The experience level is the most important factor in determining the salary. Naturally the more years of experience the higher your wage. We broke down Teller salaries by experience level and this is what we found.
A Teller with less than two years of experience makes approximately 7,020 ZAR per month.
While someone with an experience level of between two and five years is expected to earn 9,420 ZAR per month, 34% more than someone with less than two years experience.
Moving forward, an experience level between five and ten years lands a salary of 12,200 ZAR per month, 30% more than someone with two to five years of experience.
Additionally, Teller(s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 14,800 ZAR per month, 21% more than someone with five to ten years of experience.
If the experience level is between fifteen and twenty years, then the expected wage is 16,200 ZAR per month, 9% more than someone with ten to fifteen years of experience.
Lastly, employees with more than twenty years of professional experience get a salary of 17,000 ZAR per month, 5% more than people with fifteen to twenty years of experience.
Teller average salary change by experience in South Africa
|0 – 2 Years||7,020 ZAR|
|2 – 5 Years||+34%||9,420 ZAR|
|5 – 10 Years||+30%||12,200 ZAR|
|10 – 15 Years||+21%||14,800 ZAR|
|15 – 20 Years||+9%||16,200 ZAR|
|20+ Years||+5%||17,000 ZAR|
Bank Teller Salary Comparison By Education
We all know that higher education equals a bigger salary, but how much more money can a degree add to your income? We broke down Teller salaries by education level in order to make a comparison.
When the education level is High School, the average salary of a Teller is 8,340 ZAR per month.
While someone with a Certificate or Diploma gets a salary of 11,900 ZAR per month, 43% more than someone having a High School degree.
A Bachelor’s Degree gets its holder an average salary of 16,500 ZAR per month, 38% more than someone with a Certificate or Diploma.
Teller average salary difference by education level in South Africa
|High School||8,340 ZAR|
|Certificate or Diploma||+43%||11,900 ZAR|
|Bachelor’s Degree||+38%||16,500 ZAR|
Teller Salary Comparison By Gender
Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? Male Teller employees in South Africa earn 8% more than their female counterparts on average.
Teller Average Annual Salary Increment Percentage in South Africa
How much are annual salary increments in South Africa for Teller(s)?
How often do employees get salary raises?
Teller(s) in South Africa are likely to observe a salary increase of approximately 11% every 16 months. The national average annual increment for all professions combined is 8% granted to employees every 18 months.
Teller Bonus and Incentive Rates in South Africa
How much and how often are bonuses being awarded?
A Teller is considered to be a low bonus-based job due to the generally limited involvement in direct revenue generation, with exceptions of course. The people who get the highest bonuses are usually somehow involved in the revenue generation cycle.
74% of surveyed staff reported that they haven’t received any bonuses or incentives in the previous year while 26% said that they received at least one form of monetary bonus.
Those who got bonuses reported rates ranging from 1% to 3% of their annual salary.
Teller Average Hourly Wage in South Africa
The average hourly wage (pay per hour) in South Africa is 69 ZAR. This means that the average Teller in South Africa earns approximately 69 ZAR for every worked hour.
How much are bank tellers paid in South Africa?
|Nedbank Bank Teller salaries – 1 salary reported||ZAR 12,036/mo|
|Capitec Bank Bank Teller salaries – 1 salary reported||ZAR 10,364/mo|
|Mr. Price Bank Teller salaries – 1 salary reported||ZAR 3,584/mo|
|African Bank Bank Teller salaries – 1 salary reported||ZAR 198,567/yr|
How much do FNB tellers earn in South Africa?
The average FNB Bank Teller’s monthly pay in South Africa is approximately R 8 891, which is 48% above the national average. Salary information comes from 4 data points collected directly from employees, users, and past and present job advertisements on Indeed in the past 36 months.
How much do bank workers earn in South Africa?
Taking all the retail banking groups into account, the average employee salary is R541,877, with the average CEO having a salary 102 times larger at R55.
How do I become a bank teller in South Africa?
Grade 12 with Accounting or Mathematics or equivalent NQF level 4 qualification or higher.
One (1) year of Cashier experience within a retail environment.
Computer literate especially on the numerical side.
Proficient in MS Office (Word, Excel, PowerPoint, and Outlook) and the Internet.
No criminal record.
How many years does it take to study banking in South Africa?
Banking is a 3-year course.
Is maths necessary for banking in South Africa?
To take it as a profession, you must have mathematics in 12th grade. Banking is again an option to work in a bank, a thorough knowledge of finance and mathematics is highly required. With mathematics and commerce subjects you can pursue law as well.
Is banking a good career in South Africa?
Banking continues to be one of the most challenging, competitive, and rewarding careers in the corporate world. It offers an unmatched opportunity to learn about other industries and businesses, some of the best options for career growth, and unbeatable exit options. And banks need someone to manage all that.