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E M P L O Y M E N T O U T L O O K IN

BANKING OCCUPATIONS

UNITED STATES DEPARTMENT OF LABOR
James P. Mitchell, Secretary

BUREAU OF LABOR STATISTICS
Ewan Clague, Commissioner

In Cooperation with VETERANS ADMINISTRATION

O CCU PA TIO N A L OUTLOOK SERIES




BULLETIN No. 1156




EMPLOYMENT OUTLOOK IN
BANKING OCCUPATIONS
Banking Functions
Training and Qualifications
Earnings and Working Conditions
Employment Trends and Outlook

Bulletin No. 1156
UNITED STATES DEPARTMENT OF LABOR
Jam es P. Mitchell, Secretary
BUREAU OF LABOR STATISTICS
Ewan Clague, Commissioner
In cooperation with VETERANS ADMINISTRATION

For sale b y the Superintendent of Documents, U, S. Government Printing O ffice Washington 2 5 , D . C. • -




Price 30 cents




L E T T E R

O F

T R A N S M IT T A L

U n ite d S t a t e s D e p a r t m e n t o f L a b o r ,
B u re a u o f L a b o r S ta tis tic s ,
W a s h in g to n ,

D .

C .,

O c to b e r

12,

1953 .

T he S e c re ta ry o f L a b o r:
I
h a v e th e h o n o r to t r a n s m it h e r e w ith a r e p o r t o n e m p lo y ­
m e n t o u tlo o k in b a n k in g o c c u p a tio n s .
T h is is o n e o f a s e r ie s o f
r e p o r t s m a d e a v a ila b le th r o u g h th e B u r e a u 's O c c u p a t io n a l O u t­
lo o k S e r v ic e f o r u s e in th e v o c a t io n a l c o u n s e lin g o f y o u n g p e o p le
in s c h o o l, v e t e r a n s , a n d o th e r s in t e r e s t e d in s e le c t in g a n o c c u ­
p a tio n .
T h e s tu d y w a s fin a n c e d la r g e ly b y th e V e t e r a n s A d m in is ­
t r a t io n , a n d th e r e p o r t w a s o r ig in a lly p u b lis h e d a s a V e t e r a n s
A d m in is t r a t io n p a m p h le t f o r u s e in v o c a t io n a l r e h a b ilit a t io n a n d
e d u c a tio n a c t iv it ie s .
T h is s tu d y w a s c o n d u c te d in th e B u r e a u 's D iv is io n o f M a n ­
p o w e r a n d E m p lo y m e n t S t a t is t ic s .
The rep o rt w as p rep ared by
M a n u e l E b e r u n d e r th e im m e d ia te s u p e r v is io n o f C o r a E . T a y lo r .
T h e B u r e a u w is h e s to a c k n o w le d g e th e g e n e r o u s a s s i s t a n c e a n d
c o o p e r a t io n r e c e i v e d in c o n n e c tio n w ith th e s tu d y f r o m th e v a r i ­
o u s o r g a n iz a t io n s a n d in d iv id u a ls in t e r e s t e d in th e f ie ld o f b a n k in g .
E w a n C la g u e ,

H on.

C o m m is s io n e r .

J a m e s P . M itc h e ll,
S e c re ta ry of L a b o r.




ill

CO N TEN TS

I n t r o d u c t i o n .............................................................................................................

P age
1

B a n k i n g f u n c t i o n s .................................................................................................
C o m m e r c i a l b a n k s ....................................................................................

3
3

C h e c k in g
Loan se r
T ru st s e
O th e r s e

a c c o u n t s e r v i c e ..........................................................
v i c e ............................................................................................
r v i c e ........................................................................................
r v i c e s ....................................................................................

3
5
5
5

R e l a t e d f i n a n c i a l i n s t i t u t i o n s .......................................................

7

J o b s i n b a n k i n g .....................................................................................................
C l e r k s , m a c h in e o p e r a t o r s , a n d r e la t e d w o r k e r s .
T e lle r s
. .............................................................................................................

9
9
12

A n a ly s ts
....................
S u p e r v i s o r s .........................................................................................................

13
14

E x e c u t i v e t r a i n e e s ....................................................................................
O f f i c e r s .................................................................................................................

15
15

S p e c i a l i z e d p e r s o n n e l ............................................................................

16

H o w t o e n t e r a n d a d v a n c e ............................................................................
Q u a l i f i c a t i o n s f o r e n t r y ........................................................................
A p p l y i n g f o r a j o b ........................................................................................
O p p o r t u n i t i e s f o r a d v a n c e m e n t ...................................................
A d v a n c e m e n t o p p o r tu n itie s f o r w o m e n . . . . . .

17
17
18
19
21

L o c a t i o n o f b a n k e m p l o y m e n t ...............................................................

23

E m p l o y m e n t t r e n d s a n d o u t l o o k .......................................................
P a s t t r e n d s .........................................................................................................
E m p l o y m e n t p r o s p e c t s ........................................................................

27
27
30

E a r n i n g s a n d w o r k i n g c o n d i t i o n s .......................................................
E a r n i n g s .................................................................................................................

33
33

H o u r s a n d w o r k in g

c o n d i t i o n s .......................................................

37

W h e r e t o g e t a d d i t i o n a l i n f o r m a t i o n ...............................................

38

iv




T a b le s
1.

2.

3.

P age
D is tr ib u tio n o f in s u r e d c o m m e r c ia l b a n k s
a n d b a n k e m p lo y e e s b y S ta te , D e c e m b e r
3 1 , 1952

24

A v e r a g e w e e k ly e a r n in g s fo r
in g o c c u p a tio n s in 5 c i t i e s ,

s e le c te d b a n k ­
19 51
......................

34

A v e r a g e w e e k ly e a r n in g s fo r w o m e n in
s e le c t e d o f f ic e o c c u p a tio n s in fin a n c e ,
S e p t e m b e r 1 9 5 1 - M a y 1 9 5 2 .........................................

36

D is tr ib u tio n o f b a n k e m p lo y m e n t b y S ta te ,
19 52
.....................................................................................................

26

N u m b e r o f c o m m e r c ia l b a n k s an d b r a n c h e s
in th e U n ite d S t a t e s , 1 9 0 0 - 1 9 5 2
..........................

28

N u m b e r o f e m p lo y e e s in in s u r e d c o m m e r c ia l
b a n k s n e a r ly d o u b le d b e tw e e n 19 3 6 a n d 1 9 5 2

31

C h a rts
1.

2.

3.

P h o to g r a p h s a r e th ro u g h th e c o u r t e s y o f th e C o n tin e n ta l I llin o is
N a tio n a l B a n k a n d T r u s t C o m p a n y o f C h ic a g o ,
and T ru st C om pan y,

W a s h in g to n ,

D .

C.

tio n o f B a n k A u d it o r s a n d C o m p t r o lle r s .
▼




A m e r ic a n S e c u r ity

a n d T h e N a tio n a l A s s o c i a ­




EMPLOYMENT OUTLOOK
IN BANKING OCCUPATIONS
INTRODUCTION

N e a r ly e v e r y tow n in the U n ited S tates h as o n e o r m o r e b a n k s ,
w h ich to g e th e r e m p lo y ab ou t h a lf a m illio n w o r k e r s . M illio n s o f
p e o p le h a v e s a v in g s and c h e c k in g a c c o u n ts in b a n k s , in o r d e r to
e a r n in t e r e s t on th e ir m o n e y , in s u r e its s a fe k e e p in g , and m a k e
it e a s ie r to p a y b i l l s . B a n k s a ls o o f fe r m a n y o th e r s e r v i c e s , n o t a ­
b ly lo a n s to in d iv id u a ls and to b u s in e s s c o n c e r n s and the a d m in ­
is t r a t io n o f e s ta te s and o th e r t r u s t s . W ith ou t the s e r v i c e s o f
b a n k s , it w o u ld b e im p o s s ib le to c a r r y on the c o m p lic a t e d fin a n ­
c ia l o p e r a t io n s o f the p r e s e n t -d a y b u s in e s s w o r ld .
A c t iv it ie s o f the k in d now c a r r i e d on in b a n k s b e g a n th ou sa n d s
o f y e a r s a g o , so o n a ft e r m o n e y c a m e in to g e n e r a l u s e . S o m e o f
the e a r l i e s t w r it t e n h i s t o r i e s m e n tio n the b u s in e s s o f m o n e y le n d ­
ing and the s to r in g o f g o ld and s ilv e r .
The L o n d o n g o ld s m ith s o f the 17th c e n tu r y a r e o fte n r e f e r r e d
to a s the fo r e r u n n e r s o f ou r p r e s e n t -d a y b a n k e r s . F o r g o ld d e ­
p o s it e d w ith th em , th ey is s u e d w a r e h o u s e r e c e ip t s w h ich c i r c u ­
la te d a s m o n e y . W hen the g o ld s m ith s fou n d that p e o p le a c c e p t e d
t h e ir w a r e h o u s e r e c e ip t s a s m o n e y w ith ou t c o m in g in f o r the g o ld ,
it o c c u r r e d to th em that th ey c o u ld is s u e r e c e ip t s f o r a m ou n ts
g r e a t e r than the v a lu e o f the g o ld d e p o s it e d w ith th e m and thus
m a k e lo a n s on w h ich th ey c o u ld c h a r g e in t e r e s t . So b e g a n a le n d ­
ing a r r a n g e m e n t w h ich in v o lv e d the u s e o f p i e c e s o f p a p e r a s
m o n e y . The is s u a n c e o f ban k n o te s c o n v e r t ib le in to g o ld o r s ilv e r ,
la t e r u n d e rta k e n b y b a n k s , w a s a s im ila r b u s in e s s .
A s o u r c o u n tr y g r e w and p r o s p e r e d , b u s in e s s m e n fou n d that
c h e c k s w e r e m o r e c o n v e n ie n t to u s e than ban k n o t e s . W hen th ey
r e c e i v e d lo a n s at the b a n k , th ey p r e f e r r e d to h a v e the am ou n t o f
the lo a n a d d ed to th e ir c h e c k in g a c c o u n t s . It w a s s o o n r e c o g n iz e d
that c h e c k s d ra w n on d e p o s it s w e r e m o n e y ju s t a s m u ch a s ba n k
n o t e s , and e v e n tu a lly c h e c k s b e c a m e the p r im a r y m e d iu m o f e x ­
ch a n g e . A b ou t 90 p e r c e n t o f ou r N a tio n ’ s b u s in e s s is now t r a n s ­
a c t e d b y c h e c k — a f a r h ig h e r p r o p o r t io n than in any o th e r c o u n t r y
in the w o r ld . 1

f e d e r a l R e s e r v e B ank o f N ew Y o r k , A D a y f s W o r k at the
F e d e r a l R e s e r v e B ank o f New Y o r k , u n d ated , (p . 9)


-1 -

- 2

-

O ur m o d e r n c o m m e r c i a l b a n k s a r e o r g a n iz e d a s c o r p o r a t io n s .
T h e o r ig in a l s t o c k h o ld e r s s u p p ly the c a p it a l w ith w h ic h the ban k
b e g in s b u s in e s s . T h e s t o c k h o ld e r s e le c t a b o a r d o f d i r e c t o r s and
the d i r e c t o r s a p p oin t the m a n a g e r s o r o f f i c e r s o f the ban k. T h e
o f f i c e r s — p r e s id e n t , v i c e p r e s id e n t , t r e a s u r e r , c o m p t r o l l e r ,
c a s h ie r , and a s s is t a n t s — c o n d u c t the b u s in e s s o f the b a n k w ith the
a s s is t a n c e o f m a n y c l e r i c a l w o r k e r s .
E m p lo y m e n t in ban k in g h a s i n c r e a s e d r a p id ly , e s p e c i a l l y
s in c e W o r ld W ar II, and is e x p e c t e d to con tin u e to r i s e o v e r the
lo n g ru n . E m p lo y m e n t o p p o r tu n itie s in c l e r i c a l p o s it io n s w ill b e
n u m e r o u s , a s lon g a s the g e n e r a l l e v e l o f b u s in e s s a c t iv it y in the
c o u n t r y r e m a in s h ig h . O p en in g s w ill o c c u r n ot o n ly b e c a u s e o f
the g r o w th in the b an k in g in d u s tr y but a l s o ow in g to the h ig h r a te
o f t u r n o v e r a m o n g e m p lo y e e s . H igh s c h o o l g r a d u a te s w ith ou t any
s p e c ia liz e d tr a in in g c a n u s u a lly q u a lify f o r the b e g in n in g jo b s ,
su ch a s t h o s e o f f i l e c l e r k , b o o k k e e p in g c l e r k , and a v a r ie t y o f
m a c h in e -o p e r a tin g p o s it io n s . A n e x p e r ie n c e d w o r k e r m a y a d v a n c e
to a m in o r s u p e r v is o r y p o s it io n , to t e lle r o r a n a ly s t, to a s e n io r
s u p e r v is o r y p o s it io n , and p e r h a p s to ba n k o f f i c e r . H o w e v e r , the
tr e n d i s to w a r d u sin g c o l l e g e g r a d u a te s to f i l l o f f i c e r p o s it io n s .
Such g r a d u a te s a r e u s u a lly r e q u ir e d to s e r v e in t r a in e e p o s it io n s
u n til th e y h a v e g a in e d c o n s id e r a b le e x p e r ie n c e and u n til o p e n in g s
a r i s e in ju n io r o f f i c e r p o s t s .
T h is r e p o r t d i s c u s s e s the e m p lo y m e n t o u t lo o k in ban k in g
o c c u p a t io n s in b o th the s h o r t and lo n g ru n . It a ls o p r e s e n t s i n f o r ­
m a tio n on ban k in g fu n c tio n s and s e r v i c e s ; on the v a r io u s jo b s fou n d
in b a n k s , ra n g in g f r o m m e s s e n g e r to ban k o f f i c e r ; and on e a r n in g s
and o th e r it e m s o f in t e r e s t to you n g p e o p le c o n s id e r in g the c h o ic e
o f a fie ld o f w ork .




- 3

-

B A N K IN G F U N C T IO N S

S e v e r a l d iffe r e n t k in d s o f b a n k s m a y b e fou n d in m o s t c i t i e s
to d a y . F o r e x a m p le , s o m e b a n k s a c c e p t o n ly c e r t a in ty p e s o f
s a v in g s a c c o u n t s , and o t h e r s s p e c ia liz e in in v e s tm e n t a c t i v i t i e s .
O f the v a r io u s ty p e s o f fin a n c ia l in s t itu tio n s , c o m m e r c i a l b a n k s
le a d in n u m b e r s o f e s ta b lis h m e n ts and e m p lo y e e s . A p p r o x i­
m a t e ly 14, 000 su ch b a n k s , w ith m o r e than 5, 000 b r a n c h o f f i c e s ,
w e r e in o p e r a t io n at the b e g in n in g o f 1953. T h e y had m o r e than
4 0 0 , 000 e m p lo y e e s . In th is r e p o r t , the t e r m "b a n k " m e a n s a
c o m m e r c i a l b a n k , u n le s s o t h e r w is e s p e c if ie d .
C o m m e r c ia l B an ks
C o m m e r c ia l b a n k s r e n d e r tw o ty p e s o f s e r v i c e s n ot c u s t o m ­
a r i l y o f f e r e d b y o th e r ty p e s o f fin a n c ia l in s t itu tio n s . 2 T h e y o f f e r
d e p o s it a c c o u n t s on w h ich c u s t o m e r s m a y d ra w c h e c k s , and th e y
m a k e s h o r t -t e r m lo a n s to b u s in e s s m e n , f a r m e r s , and in d u s t r ia l­
i s t s . T h e s e and o th e r s e r v i c e s o f c o m m e r c i a l b a n k s a r e d i s ­
c u s s e d b e lo w .
C h e ck in g a c c o u n t s e r v i c e . — la r g e p a r t o f the a c t iv it y in a
A
b a n k c e n t e r s a r o u n d the h an dlin g o f c h e c k s . T o illu s t r a t e , l e t us
a s s u m e that M r . J o n e s in " S m a llt o w n ," N . Y . , is on e o f the n e a r ­
l y 100 m illio n d e p o s it o r s o f the N a t io n 's c o m m e r c i a l b a n k s and
w is h e s to p a y f o r s o m e m e r c h a n d is e in San F r a n c i s c o . H e w r it e s
a c h e c k o r d e r in g "S m a llto w n N a tion a l B a n k "3 to p a y the " A b le
M a n u fa ctu rin g C o . " a c e r t a in su m , and m a ils the c h e c k to the
c o m p a n y in San F r a n c i s c o .
T h e " A b le M a n u fa ctu rin g C o . " d e p o s it s the c h e c k in the " W e s t
C o a s t N a tion a l B a n k " in San F r a n c i s c o , w h e r e it g o e s to the t e lle r
to b e c r e d i t e d to the c o m p a n y 's a c c o u n t and is th en s o r t e d a s an
o u t-o f-to w n c h e c k . It m a y a ls o b e p h o to g r a p h e d on m i c r o f i l m . In
an y c a s e , a r e c o r d is m a d e o f the a m ou n t o f m o n e y in v o lv e d , and
the c h e c k is sen t to the F e d e r a l R e s e r v e B an k o f San F r a n c i s c o
f o r c o l l e c t i o n . W e s t C o a s t N a tion a l h as an a c c o u n t t h e r e and the
a m ou n t o f the c h e c k is a d d e d to it. T h e F e d e r a l R e s e r v e B a n k o f

2See s e c t io n on r e la t e d fin a n c ia l in s titu tio n s (p. 7 ) f o r a d i s ­
c u s s io n o f o th e r ty p e s o f b a n k s and s p e c ia liz e d f in a n c ia l in s t itu ­
t io n s .
3
T h e w o r d " N a t io n a l" in the b a n k 's n a m e in d ic a t e s the ban k
is c h a r t e r e d b y the F e d e r a l G o v e r n m e n t. A ll su ch b a n k s a r e m e m ­
b e r s o f the F e d e r a l R e s e r v e S y s te m . O th er c o m m e r c i a l b a n k s a r e
c h a r t e r e d b y the v a r io u s State g o v e r n m e n t s b u t m a y a ls o b e lo n g to
the F e d e r a l R e s e r v e S y s te m .



- 4 -

San F r a n c i s c o th en sen d s the c h e c k to the F e d e r a l R e s e r v e B ank
o f N ew Y o r k , w h ich fo r w a r d s th e c h e c k to S m a llto w n , N. Y . f o r
c o l l e c t i o n . T h e F e d e r a l R e s e r v e B an ks s e ttle th e ir a c c o u n t s w ith
e a c h o th e r th rou g h the I n t e r - D i s t r i c t S e ttle m e n t Fund in W a s h in g ­
to n , D . C . 4 F in a lly , the S m a llto w n ban k d e d u c ts the a m ou n t o f
the c h e c k f r o m M r . J o n e s ' a c c o u n t and p a y s f o r the c o l l e c t i o n b y
a d e d u c tio n f r o m its a c c o u n t w ith the F e d e r a l R e s e r v e B a n k o f
N ew Y o r k . T h e c h e c k is " c a n c e l e d " s ig n ify in g that it has b e e n
p a id , b y s ta m p in g o r b y a c h e c k -p e r fo r a t in g m a c h in e . T h e b a n k
p e r i o d i c a l l y s e n d s e a c h c u s t o m e r a sta te m e n t w ith h is c a n c e le d
c h e c k s , w h ic h s e r v e a s le g a lly v a lid r e c o r d s o f p a y m e n ts m a d e .
T h e c h e c k on S m a llto w n N a tio n a l w a s h a n d led m a n y t im e s .
It w a s in s e r t e d and r e m o v e d f r o m s e v e r a l e n v e lo p e s and s o r t e d
in to d iff e r e n t p i l e s . A t W e s t C o a s t N a tion a l the p ile in to w h ic h
it w en t w a s m a r k e d " F e d e r a l R e s e r v e B a n k o f San F r a n c i s c o " .
A t the F e d e r a l R e s e r v e B an k o f San F r a n c i s c o the p ile w a s m a r k e d
" F e d e r a l R e s e r v e B a n k o f N ew Y o r k " . In the F e d e r a l R e s e r v e
B an k o f N ew Y o r k the c h e c k w a s p la c e d w ith o t h e r s to b e sen t to
" S m a llt o w n N a t io n a l" . A t S m a llto w n N a tion a l the c h e c k w a s s o r t e d
in to a p ile w ith o th e r c h e c k s M r . J o n e s had d ra w n d u rin g the
m on th .
If the a b o v e e x a m p le is m u lt ip lie d b y the th ou sa n d s u p on th o u s ­
an d s o f c h e c k s that a r e w r it t e n e a c h d a y , s o m e id e a is g a in e d o f the
m a m m o th c l e r i c a l jo b in th e ban k in g in d u s tr y . P e r h a p s the la r g e s t
c h e c k h a n d lin g o p e r a t io n u n d er on e r o o f is that o f the F e d e r a l R e ­
s e r v e B a n k o f N ew Y o r k w h ich p r o c e s s e s o n e m i llio n c h e c k s a d a y
on the a v e r a g e . T o illu s t r a t e the w id e s p r e a d u s e o f c h e c k in g a c ­
c o u n ts and the huge b o o k k e e p in g jo b that is d o n e , w e m ig h t add a ll

4
T h e r e a r e 12 F e d e r a l R e s e r v e B a n k s , on e in e a c h o f the F e d ­
e r a l R e s e r v e D is t r ic t s in to w h ich the U n ited S tates is d iv id e d .
E a c h o f the F e d e r a l R e s e r v e B a n k s is a n o n p r o fit c o r p o r a t io n o r ­
g a n iz e d and o p e r a t e d to s e r v i c e the p u b lic . T h e s e b a n k s a r e o fte n
c a lle d " b a n k e r s ' b a n k s " b e c a u s e th ey c a r r y d e p o s it s o f o th e r b a n k s
c a l l e d " m e m b e r b a n k s " . T h e o v e r a ll s u p e r v is io n o f the F e d e r a l
R e s e r v e S y s te m is la r g e ly v e s t e d in a B o a r d o f G o v e r n o r s , lo c a t e d
in W a s h in g to n , D . C. , w h o s e m e m b e r s a r e a p p o in te d b y the P r e s i ­
d en t o f the U n ited S tates and c o n f ir m e d b y the S en a te. (F o r f u r ­
th e r d e t a ils a b ou t the F e d e r a l R e s e r v e S y s te m , s e e the b o o k le t
‘‘" T h e F e d e r a l R e s e r v e S y s t e m —Its P u r p o s e s and F u n c t io n s " a v a i l ­
a b le on r e q u e s t to the D iv is io n o f A d m in is t r a t iv e S e r v i c e s , B o a r d
o f G o v e r n o r s o f the F e d e r a l R e s e r v e S y s te m , W a sh in g to n 2 5 , D . C . )




-

5

-

the d e d u c tio n s (d e b its ) m a d e f r o m a ll the c h e c k in g a c c o u n t s in the
U n ited S tates f o r 1 y e a r . T h e r e s u ltin g to ta l is the fa n t a s tic su m
o f a b ou t $ 1 3 / 4 t r illio n . 5
L o a n s e r v i c e . —T h e p r im a r y in c o m e -p r o d u c in g fu n c tio n o f
b a n k s is the le n d in g o f m o n e y to b u s in e s s e s and in d iv id u a ls , and
to the G o v e r n m e n t and c o r p o r a t io n s th rou g h the p u r c h a s e o f G o v ­
e r n m e n t b o n d s and o th e r s e c u r i t i e s . T h e in t e r e s t the ban k e a r n s
o n lo a n s i s the m a jo r s o u r c e f r o m w h ic h o p e r a t in g e x p e n s e s a r e
p a id and d iv id e n d s a r e d is b u r s e d to ba n k s t o c k h o ld e r s . T h e a p ­
p r o v a l o f a lo a n m a y g iv e a b u s in e s s a new le a s e on l i f e ; a r e ­
fu s a l m a y b e it s d ea th k n e ll. B y ex ten d in g c r e d i t to p r iv a t e in d i­
v id u a ls , the b a n k e r m a y m a k e it p o s s i b l e f o r th e m to b u y new
h o m e s , a u t o m o b ile s , o r fu r n it u r e . In the le n d in g p r o c e s s , the
b a n k e r m u s t e x e r c i s e h is b e s t ju d g m e n t, w e ig h in g c a r e f u lly the
m a n y f a v o r a b le and u n fa v o r a b le e le m e n t s in e a c h s itu a tio n .
S in c e the b a n k o f f i c e r is le n d in g the d e p o s i t o r s ' fu n d s, he m u s t
b e r e a s o n a b ly c e r t a in that the ban k w ill b e r e p a id on the " m a t u r i ­
t y " o r e x p ir a t io n d ate o f the lo a n .
T r u s t s e r v i c e . —T he a d m in is tr a t io n o f fu n d s b e lo n g in g to
o t h e r s , c o r p o r a t io n s a s w e ll a s in d iv id u a ls , is a n o th e r s e r v i c e
o fte n p e r f o r m e d b y b a n k s . A c tin g a s a t r u s t e e , a ban k w ill a c ­
c e p t r e s p o n s ib ilit y f o r m a n a g in g a fund o r e s ta te in a c c o r d a n c e
w ith the p r o v is io n s o f a tr u s t a g r e e m e n t . T r u s t m a n a g e m e n t
in v o lv e s w is e in v e s tm e n t o f tr u s t e e d fu n d s and a ls o m e t ic u lo u s
c a r r y in g out o f the t r u s t a g r e e m e n t . T h e a g r e e m e n t , f o r e x ­
a m p le , m a y in c lu d e su ch stip u la tio n s a s sen d in g the son o f the
c r e a t o r o f the t r u s t to c o l l e g e , o r , a s i s o fte n the c a s e in p e n ­
s io n t r u s t s , p a y in g ou t p e n s io n s to e lig ib le e m p lo y e e s .
O th er s e r v i c e s . —B an ks m a y o f f e r a v a r ie t y o f o th e r s p e c i a l ­
i z e d -s e r v l c e i 7 - 3 e p e n d in g u p on the s iz e o f the ban k and the n a tu re
o f it s c lie n t e le . S a v in g s d e p o s it s a r e u s u a lly a c c e p t e d b y b a n k s
and in t e r e s t is p e r i o d i c a l l y p a id on fu n d s a s th e y a c c u m u la t e . M a n y
b a n k s h a n d le p u r c h a s e s , s a l e s , and r e d e m p t io n o f G o v e r n m e n t b o n d s .
T h e y m a y a l s o h a n d le o th e r s e c u r it ie s f o r c u s t o m e r s and m a y
fu r n is h th e m w ith a n a ly s e s o f su ch s e c u r i t i e s . B a n k s o fte n m a k e
c r e d i t in v e s t ig a tio n s on b e h a lf o f th e ir c u s t o m e r s , o r g iv e c r e d i t
r e f e r e n c e s f o r c u s t o m e r s o n r e q u e s t b y b u s in e s s f i r m s . T h e y
a ls o o f f e r the r e n ta l o f s a fe d e p o s it f a c i l i t i e s to w h ic h on e has
e x c lu s iv e a c c e s s . If a d e b t in a f o r e ig n c o u n t r y m u s t b e p a id o r

5F e d e r a l R e s e r v e B an k o f N ew Y o r k , o p . c it .




-

6

-

M o s t b a n k s m a in ta in c u s t o m e r s 1 s a fe d e p o s it b o x e s in t h e ir v a u lts




- 7

-

a c o l l e c t i o n m a d e , the ban k c a n h an dle the t r a n s a c t io n . C ity
ban k s o fte n h a v e a r r a n g e m e n ts w ith l o c a l g a s , e l e c t r i c , and t e l e ­
p h on e c o m p a n ie s w h e r e b y c u s t o m e r s m a y p a y th e ir m o n th ly u t il­
ity b i l l s to the ban k.
A c o m p le t e l i s t o f s e r v i c e s p e r f o r m e d b y la r g e b a n k s w o u ld
in c lu d e m a n y o th e r it e m s not m e n tio n e d a b o v e . In d e e d , a m o d ­
e r n ban k is a v e r it a b le d e p a r t m e n t s t o r e " o f b a n k in g .
R e la te d F in a n c ia l In stitu tion s
S o m e o f the fu n c tio n s o f c o m m e r c i a l b a n k s a r e p e r f o r m e d
a ls o b y o t h e r , m o r e s p e c ia liz e d fin a n c ia l in s titu tio n s . M utual
s a v in g s b a n k s , f o r e x a m p le , a c c e p t s a v in g s d e p o s it s and p a y
in t e r e s t o n th e m , but r a r e l y a c c e p t c h e c k in g a c c o u n t s . T h e y
o fte n s e ll 1 s a v in g s b a n k 1 l if e in s u r a n c e , fu r n is h s a fe d e p o s it
1
*
f a c i l i t i e s , and p e r f o r m t r u s t fu n c t io n s . F o r the m o s t p a r t ,
m u tu al ban k a s s e t s a r e in v e s t e d in b o n d s and r e a l e s ta te . In
1951, a lm o s t 50 p e r c e n t o f th e ir ^assets w e r e in v e s t e d in U nited
S tates G o v e r n m e n t b o n d s , w ith a n o th e r 36 p e r c e n t in r e a l e s ta te
m o rtg a g e s. 6
T h e r e a r e w e ll o v e r 500 m u tu al s a v in g s b a n k s , c o n c e n t r a t e d
m o s t ly in the N o r t h e a s te r n U n ited S ta tes; o v e r 60 p e r c e n t a r e
lo c a t e d in M a s s a c h u s e t t s and New Y o r k . 7 A b o u t 206 o f t h e s e
b a n k s , w h o s e d e p o s it s r e p r e s e n t e d t h r e e -fo u r t h s o f the to ta l d e ­
p o s it s in su ch b a n k s , e m p lo y e d m o r e than 13, 000 p e r s o n s in
1952. 8
M any o th e r fin a n c ia l in s titu tio n s , n ot c l a s s i f i e d a s b a n k s ,
a ls o o f f e r e m p lo y m e n t w h ich u t iliz e s the s a m e o c c u p a t io n a l s k ills
r e q u ir e d in ban k in g . T h e f a s t e s t g r o w in g o f th e s e in s titu tio n s
a r e s a v in g s and lo a n a s s o c i a t i o n s . T h e ir a c t iv it ie s a r e s im ila r
to th o s e o f m u tu al s a v in g s b a n k s alth ou g h n ot a s d iv e r s if ie d .
P e o p le m a y p la c e th e ir s a v in g s w ith th e s e a s s o c ia t io n s b y p u r ­
c h a s in g s h a r e s w h ich e a r n d iv id e n d s p a id f r o m the e a r n in g s o f
the o r g a n iz a t io n . The o r g a n iz a t io n s 1 fu n d s a r e in v e s t e d m a in ly

8P r o c h n o w , H. V . , E d it o r , A m e r ic a n F in a n c ia l In stitu tio n s ,
N ew Y o r k , (p .1 5 0 ), 1951.
7 F e d e r a l D e p o s it In s u r a n c e C o r p o r a t io n , A n nual R e p o r t for>
the Y e a r en d ed D e c e m b e r 31, 1952, W a sh in g to n , D . C . , 1953,
T a b le 30" ■(p.'S'Zr.-------------------------------8Ib id (p. 136).




-8 -

in f i r s t m o r t g a g e lo a n s m a d e on r e a l e s ta te . S a v in gs and lo a n
a s s o c ia t io n s had m o r e than $ 1 9 b i llio n in a s s e t s in 1951, o f
w h ich m o r e than $ 15 1 /2 b illio n w e r e in f i r s t m o r t g a g e lo a n s . 9
In 1951 t h e r e w e r e a lm o s t 6, 000 o f t h e s e a s s o c ia t io n s w ith an
e s tim a t e d w o r k f o r c e o f 30, 000. 10
S p e c ia liz in g in the c o n s u m e r c r e d it f ie ld , a r e a b ou t 1, 000
p e r s o n a l fin a n c e c o m p a n ie s o p e r a tin g a p p r o x im a t e ly 5, 000
o f f i c e s . 11 T h e ty p e s o f w o r k e r s e m p lo y e d b y th e s e o r g a n iz a ­
tio n s a r e s im ila r to t h o s e n e e d e d in the c o n s u m e r lo a n d e p a r t ­
m e n t o f a c o m m e r c i a l ban k.
In v e s tm e n t b a n k s s p e c ia liz e in the m a r k e tin g o f s e c u r it ie s
f o r c o r p o r a t io n s n e e d in g c a p it a l fu n d s. B r o k e r a g e c o m p a n ie s
p u r c h a s e and s e ll s e c u r it ie s f o r th e ir c lie n t s . T h e s e tw o ty p e s
o f o r g a n iz a t io n s o fte n c o l l e c t and d is t r ib u t e a g r e a t d e a l o f in ­
v e s t m e n t in fo r m a t io n an d , t h e r e f o r e , e m p lo y in v e s tm e n t a n a ly s ts
a s w e ll a s o th e r e m p lo y e e s s im ila r to t h o s e in in v e s tm e n t d e p a r t ­
m e n ts o f c o m m e r c i a l b a n k s .
S o m e G o v e r n m e n t a g e n c ie s p e r f o r m fu n c tio n s r e la t e d to
t h o s e o f b a n k s . A m o n g th o s e a c t iv e in e a r ly 1953 w e r e the F a r m
C r e d it A d m in is t r a t io n , the F a r m e r s H om e A d m in is t r a tio n , the
R e c o n s t r u c t io n F in a n c e C o r p o r a t io n , the H o u sin g and H om e F i ­
n a n ce A g e n c y , and the E x p o r t -I m p o r t B a n k . In a d d itio n to th o s e
a g e n c ie s w h ich p e r f o r m len d in g a c t iv it ie s o r fa c ilit a t e the m a k in g
o f lo a n s , o th e r g o v e r n m e n ta l o r qua s i-g o v e r n m e n t a l a g e n c ie s h ave
a s on e o f th e ir fu n c tio n s the s u p e r v is io n o f b a n k s . T h e s e a g e n ­
c i e s — c lu d in g the F e d e r a l D e p o s it In s u r a n ce C o r p o r a t io n , the
in
F e d e r a l R e s e r v e S y s te m , and the O ffic e o f the C o m p t r o lle r o f
the C u r r e n c y —c o n d u c t p e r i o d i c e x a m in a tio n s o f b a n k s . T h e y e m ­
p lo y e d an e s tim a t e d w o r k f o r c e o f abou t 1, 700 ba n k e x a m in e r s in
e a r ly 1953. T h e F e d e r a l R e s e r v e B a n k s, o p e r a tin g a s b a n k e r s
b a n k s in the 12 F e d e r a l R e s e r v e D i s t r i c t s , h ave m a n y p o s it io n s
w h ic h a r e s im ila r to t h o s e in c o m m e r c i a l b a n k s .
C le a r in g h o u s e a s s o c ia t io n s a r e p r i m a r i l y en g a g ed in e x ­
p e d itin g the c o l l e c t i o n o f l o c a l c h e c k s . B a n k s in la r g e c i t i e s
d e liv e r c h e c k s f o r o th e r l o c a l b a n k s to the c le a r in g h o u s e and
p i c k up c h e c k s f o r th e ir ow n b a n k . M u ch c l e r i c a l w o r k , m o s t ly
r o u tin e s o r t in g , is p e r f o r m e d at the c le a r in g h o u s e .

9H o m e L o a n B a n k B o a r d , T r e n d s in the S a v in gs and L o a n
F i e l d , 1951, W a s h in g to n , D . C . , (p. 4 ).
10 E s t im a t e d b y U. S. S a v in g s and L o a n L e a g u e .
11P r o c h n o w , H . V . , E d it o r , A m e r ic a n F in a n c ia l In s t it u t io n s ,
N ew Y o r k , 1951, (p. 7 1 9 ).



- 9

-

J O B S IN B A N K IN G

O f th e m o r e th a n 4 0 0 , 000 p e r s o n s w h o w o r k a t v a r io u s t a s k s
in c o m m e r c ia l b a n k s , r o u g h ly 30 0 , 000 p e r f o r m th e c l e r i c a l d u ­
tie s

i n v o lv e d in h a n d lin g d e p o s i t s ,

c a s h in g

ch ecks,

an d r e c o r d in g

th e m illio n s o f tr a n s a c tio n s c a r r ie d th r o u g h e a c h d a y .
S u p e r v i­
s o r s o f v a r io u s o p e r a tin g u n its a n d s e c t io n s , a s w e ll a s b a n k
o ffic e r s ,
The
th e s iz e
tw o o r m
p erso n .

are

a ls o

n e e d e d fo r p o s itio n s o f g r e a t e r r e s p o n s ib ility .

e x a c t d u tie s in
o f th e b a n k an d
o r e o f th e jo b s
C o m b in a tio n s

s e n g e r - c le r k ,

v o lv e d in a p a r t i c u l a r p o s it io n v a r y w it h
th e n a tu re o f its b u s in e s s .
In s m a ll b a n k s ,
d e s c r i b e d b e lo w m a y b e h a n d le d b y o n e
s u c h a s th e fo llo w in g a r e c o m m o n : m e s ­

p r o o f - m a c h i n e —b o o k k e e p i n g - m a c h i n e o p e r a t o r ,

or

t r a n s i t c l e r k —p r o o f - m a c h i n e —b o o k k e e p i n g - m a c h i n e o p e r a t o r .
On
th e o th e r h a n d , s p e c ia liz a t io n is m o r e f e a s ib le in la r g e b a n k s a n d
e a c h p e r s o n m a y h a v e o n ly a fe w c l e a r l y d e fin e d d u t ie s .
C le r k s ,

M a c h in e O p e r a t o r s ,

a n d R e la te d W o r k e r s

T h e la r g e s t g r o u p o f b a n k w o r k e r s a r e th o s e e m p lo y e d in
c le r ic a l p o s itio n s .
M o s t o f th e m n e e d lit t le s p e c ia liz e d tr a in in g .
M e s s e n g e r s a r e p e r h a p s th e le a s t s p e c ia liz e d .
T h e r e a r e a ls o
m a n y ty p e s o f c l e r k s , in c lu d in g f i l e c l e r k s , b o o k k e e p in g c l e r k s ,
sta te m e n t c le r k s , and tr a n s it c le r k s .
A la r g e n u m b er o f c le r ic a l
w o r k e r s o p e r a te o ffic e m a c h in e s , m a in ly p r o o f ( s o r tin g ) m a c h in e s ,
b o o k k e e p in g m a c h in e s , a n d a d d in g m a c h in e s .
S o m e b a n k s a ls o u s e
k e y -p u n c h , ta b u la tin g , a d d r e s s o g r a p h , a n d m ic r o film in g m a c h in e s .
In a d d itio n , b a n k s e m p lo y m a n y t y p is t s , s t e n o g r a p h e r s , te le p h o n e
o p e r a to r s , e le v a to r o p e r a to r s , an d g u a r d s .
M e s s e n g e r s m a k e t r ip s to o th e r b a n k s , b r a n c h e s o f th e s a m e
b a n k , b u s in e s s h o u s e s , a n d o fte n g o v e r n m e n t a g e n c ie s in th e lo c a l
area.
T h e y a r e r e s p o n s ib le f o r th e s a le d e l i v e r y o f b a n k in g it e m s
su ch a s c h e c k s and d ra fts , le tte r s , and p a c k a g e s .
In m a n y b a n k s ,
t h e s e m e s s e n g e r s a r e o ld e r m e n w h o , a lth o u g h s t i l l a c t i v e , a r e
a b le to d o o n ly lig h t w o r k .
I n s id e m e s s e n g e r s o r p a g e s , w h o m a y
b e m e n o r w o m e n , c a r r y m e s s a g e s a n d b a n k in g it e m s w ith in th e
b a n k a n d m a y a ls o p e r fo r m s im p le c le r ic a l t a s k s .
F o r m e r ly ,
m o s t n e w e m p lo y e e s w e r e h ir e d a s m e s s e n g e r s .
S o m e b e g in n e r s
a r e s t i l l a s s ig n e d to th is w o r k , th o u g h la r g e n u m b e r s b e g in a s
ju n io r

c le r k s




a n d b o o k k e e p in g

- o r p r o o f- m a c h in e

o p e ra to rs.

-

1 0

-

T h ree-fou rth s of a ll bank em p lo y ees a re m ach in e o p erators or c le r k s
C lerk s p erfo rm o ffice d u ties of v ariou s kinds depending on
the dep artm en t or se c tio n to w hich they a re a ssig n e d . F or e x ­
a m p le, a file c le r k a ssig n e d to g en era l file s m ay m ain tain file s
of co rresp o n d en ce, cr ed it r e p o rts, and other d ocu m en ts. A
bookkeeping c le r k m ay alp h ab etize m a te ria l for the b oo k k eep ers,
ca n cel and file c h eck s, an sw er p h on es, and so rt and lis t v ariou s
ite m s. A statem en t c le r k c a n c els and file s paid ch e c k s, d e liv e r s
sta tem en ts and checkbooks to c u sto m e r s over the cou n ter, and
runs statem en t fo rm s m onthly on ad d ressog rap h m a ch in es. A
tr a n sit c le r k so rts ch eck s and d rafts on out-of-tow n banks in a c cord an ce w ith routing in stru c tio n s, en d o rses th e se ite m s, lis ts
so rted ite m s on cash le tte r s , and p la c e s ch eck s and cash le tte r s
in p ro p erly a d d ressed en v elo p es to in su re prom pt and a ccu ra te
c o lle c tio n of ite m s. T ran sit c le r k s u su a lly m u st be able to u se
an adding m ach in e and ty p ew riter. A g en era l c le r k m ay file
m a te r ia l, op erate the sw itch board , g iv e routine c red it in fo rm a ­
tion , op erate duplicating m a ch in es, and help w ith sorting and
listin g of ch eck s and other ite m s. G eneral c le r k s a lso m ay u se
the bookkeeping m achine to reco rd tra n sa ctio n s affectin g v ariou s
a cco u n ts.



-11

The bulk of the job of sortin g ch eck s and sim ila r ite m s is
a cco m p lish ed by p roof-m ach in e o p era to rs. P r o o f m a ch in es have
two se ts of k e y s —so r t k ey s and con ven tion al adding m ach in e k ey s.
T hus, in one operation the ch eck is so rted and a r e co rd is m ade
of the am ount involved. P roof-m ach in e o p era to rs m ay a lso a s s is t
in p rep arin g for m ailin g individual m onthly sta tem en ts of c u sto m ­
ers* accou n ts and accom panying can celed c h eck s.
K eeping reco rd s of cu stom ers* accoun ts is c h iefly the job of
bookkeeping-m achine o p e r a to r s. The b ook k eep in g-m ach in e operator r e c e iv e s d ep osit slip s and paid ch eck s from the p roof d ep art­
m ent and a rra n g es them a lp h a b etica lly or accord in g to the ord er
in w hich cu stom ers* accou n ts a re kept. The next ta sk is to add
and su b tract the su m s d ep osited in and w ithdraw n from each
cu stom er*s account, usin g a bookkeeping m ach in e. A lso , the
bookkeeping-m achine operator m ay prepare cu stom ers* sta te ­
m en ts for m a ilin g , give account inform ation over the telep h on e,
and ca n cel and file ch eck s.
In la r g e banks, m any r e c o r d s, such a s th ose of the tr u st and
p erso n n el d ep artm en ts, are kept on p un ch -card s. Such banks
em p loy a num ber of w o rk ers a s o p erators of key-p un ch and tabu­
latin g m a ch in es.

B ookkeeping in m odern banks is done la r g ely by m ach in es




- 12 -

Som e banks
film .
T he o p era
jo b .
I f th e b a n k
m im e o g r a p h , o r

m a k e a p h o to g r a p h ic r e c o r d o f c h e c k s o n m i c r o ­
t io n o f th is m a c h in e i s s o m e t im e s a s e p a r a t e
is la r g e e n o u g h , th e o p e r a tio n o f m u ltilith ,
a d d r e s s o g r a p h m a c h in e s a ls o m a y b e th e s p e c ia l

d u ty o f o n e o r m o r e p e r s o n s .
T e lle r s
T h e b a n k e m p lo y e e s w h o d e a l w ith th e p u b lic m o s t a r e th e
te lle r s .
A b o u t 6 4 , 000 w e r e e m p lo y e d in 19 5 0 in a ll t y p e s o f
b a n k s .12
T h e t e r m , t e l l e r , c o m e s f r o m a n A n g lo - S a x o n w o r d
w h ic h m e a n s to e n u m e r a te o r c o u n t.
T h u s, a te lle r is a p e rs o n
w h o co u n ts.
In o th e r b u s in e s s e s a p e r s o n w h o c o u n ts c a s h i s
u s u a lly c a lle d a c a s h ie r , b u t in a b a n k th e c a s h ie r is th e e x e c u ­
t iv e o f f ic e r r e s p o n s ib le fo r th e fu n d s ; in s o m e b a n k s h e a ls o m a y
b e in c h a r g e o f o p e r a tio n s .
C o m p e t e n t t e l l e r s b u ild a b a n k 's b u s i n e s s b y g iv in g c u s t o m ­
e r s th e k in d o f s e r v i c e th e y w a n t.
M a n y c u s to m e r s fo r m th e ir
im p r e s s io n o f a b a n k fr o m th e w a y th e y a r e t r e a te d b y th e s e e m ­
p lo y e e s .
T e l l e r s a r e a ls o r e s p o n s ib le fo r in itia tin g c h a n g e s in
c u s to m e rs ' a cco u n ts.
A c c u r a c y , a s w e ll a s sp e e d an d c o u r te s y ,
i s t h e r e fo r e im p o r ta n t in th e ir w o r k .
A p a y in g a n d r e c e iv in g t e l le r u s u a lly s t a r t s th e d a y b y o b ­
t a in in g ; h i s in d i v i d u a l c a s h b o x f r o m t h e v a u l t .
H e m ay o rd er
a d d itio n a l c o in a n d c u r r e n c y if h e f e e ls th e s u p p ly h e h a s o n h a n d
i s n o t a d e q u a t e f o r th e d a y 's r e q u ir e m e n t s ; h e g iv e s m u tila t e d
c u r r e n c y to th e h e a d t e l l e r .
D u r in g th e h o u r s th e b a n k is o p e n to
th e p u b lic th e t e lle r is c h ie f ly c o n c e r n e d w ith c a s h in g c u s t o m e r s '
c h e c k s a n d r e c e iv in g d e p o s its .
W hen he ca sh e s a ch eck he m u st
v e r if y th e s ig n a tu r e o r e n d o r s e m e n t an d a s c e r t a in th a t th e c u s ­
t o m e r 's a c c o u n t b a la n c e i s s u f f ic ie n t .
C h e c k s fo r la r g e a m o u n ts
a r e r e f e r r e d to th e h e a d t e lle r o r a n o ffic e r fo r a u th o r iz a tio n .
W h e n th e t e lle r r e c e iv e s d e p o s its fr o m c u s t o m e r s , h e v e r if ie s
a n d e n te r s th e a m o u n t o f th e s e in p a s s b o o k s o r o n d e p o s it
re ­
c e ip ts .

In a c c e p t in g

d e p o s its fr o m

fo r c o u n te r fe it m o n e y .
p u b lic ,

th e t e lle r

on hand,
sh e e t,

lis tin g

A fte r

"p ro ves"

c u s to m e rs h e m u st b e a le r t

th e b a n k d o o r s a r e

h is c a s h ,

c lo s e d to th e

u s u a lly b y c o u n tin g th e c a s h

th e c u r r e n c y - r e c e iv e d

tic k e ts

m a k in g th e p r o p e r a d ju s tm e n ts th e r e o n ,

on a

s e ttle m e n t

a n d ta k in g th e

1 2 U . S . D e p a r tm e n t o f C o m m e r c e , B u r e a u o f th e C e n s u s , P r e ­
lim in a r y R e p o r t o n D e ta ile d O c c u p a tio n o f E m p lo y e d P e r s o n s in
th e U n ite d S t a t e s , 1 9 5 0 , W a s h in g to n , D . C . , 1 9 5 3 .




-

13

-

About 64, 000 te lle r s a re em ployed in banks throughout
the U nited States
settlem en t sh eet to the p roof d ep artm en t for fin al p r o c e ssin g .
He m ay a lso p erform a num ber of m isc e lla n e o u s ta sk s such a s
counting d ep osit slip ite m s for a n a ly sis p u r p o se s, filin g new a c ­
count ca r d s, and rem ovin g clo se d account ca rd s fro m the file s .
He m ay su p erv ise one or m ore c le r k s who a s s is t him in r e c o r d ­
ing or filin g .
A n a ly sts
B efo re a bank o ffic er p a s s e s on a re q u est for a loan , he has
an a n a ly sis m ade of the cr ed it p o sitio n of the fir m or individual
in volved . In la rg e banks th is job is done by c r e d it a n a ly sts, who
a n a ly ze fin an cial statem en ts and w rite or phone other banks and
c r e d it a g e n cie s in sea rch of in form ation on ap p lican ts for lo a n s.
The h isto ry of the a p p lican t's d ealin gs w ith the bank is a lso in ­
v estig a ted by m ean s of a thorough sea rch of the file s . The a n a ­
ly s t then co m p iles a rep o rt and su bm its it to h is su p e r v iso r , who
fo rw a rd s it to the p roper bank o ffic er .
Investm ent a n a ly sts con stan tly study a ll a sp e c ts of the se c u r itie s m a rk et and p rep are rep o rts for tr u st or other bank o ffic e r s
who d ecid e on the p roper u se of in v estm en t funds. The sam e type



-1 4

of in form ation is a lso needed to guide the bank in in v estin g for its
own accoun t funds w hich it d oes not need fo r other p u rp o ses. The
in v estm en t a n a ly st p rep a res a p p ra isa ls of se c u r itie s of b u sin e ss
o rg a n iza tio n s by com p iling factu al data a s to com pany a s s e ts and
lia b ilitie s , s a le s , ea rn in gs, d ivid en d s, cap ital stru ctu re, and
rela ted ite m s. He a lso com p utes such r a tio s a s earn in gs or d iv i­
dends per sh a re.
S u p erv iso rs
The num ber of su p erv iso ry p o sitio n s in a bank depends la r g e ly
on its s iz e . In som e banks, d ep artm en ts a re divided into units
and se c tio n s. T hus, th ere m ay be unit su p e r v iso r s who a re in
ch arge of a num ber of c le r k s or m ach in e o p e r a to r s, a n a ly sts, or
te lle r s . O ver th e se unit su p e r v iso r s m ay be a se c tio n su p e r v i­
so r , and fin a lly a d ep artm en tal su p erv iso r or head of se v er a l
se c tio n s.
A unit su p erv iso r a s s ig n s , r e v ie w s, and ch eck s the w ork of
h is unit. In addition, he m ay be in ch arge of train ing new em p lo y e e s,
m aking recom m en d ation s a s to s a la r ie s , p ro m otio n s, and tr a n sfe r s,
loca tin g e r r o r s in the w ork, and helping out w ith p a r tic u la r ly d iffi­
cu lt ta sk s. A sec tio n su p erv iso r p erfo rm s sim ila r d u ties for the en ­
tir e sectio n . The d ep artm en tal su p erv iso r has co n sid era b ly g rea ter
r e sp o n sib ility . In la rg e banks, he m a y b e r e sp o n sib le , under the

E m p lo yees in the c red it d iv isio n of a la rg e bank
(C redit a n a ly sis is one of the ea rly a ssig n m en ts often given
co lleg e graduates)



- 15 -

g e n e r a l d ir e c tio n o f a b a n k
o r d in a tio n o f th e d e p a r tm e n
in g s a l a r y a d ju s t m e n t s a n d
fic u lt o p e r a tin g p r o b le m s .
th e d ir e c t r e s p o n s ib ilit y o f
A s a r u le ,

o ffic e r , fo r o v e r a ll o p e r a tio n an d c o ­
t, h ir in g n e w e m p lo y e e s , r e c o m m e n d ­
p r o m o t io n s , a n d h a n d lin g o f v e r y d i f ­
In s m a l le r b a n k s , t h e s e d u t ie s m a y b e
a n o ffic e r .

s u p e r v is o r y jo b s a t a ll le v e ls

are

fille d

b y th e p r o ­

m o tio n o f b a n k e m p lo y e e s w h o h a v e d e m o n s tr a te d le a d e r s h ip
t ie s an d w h o s e w o r k h a s sh o w n th a t th e y a r e
a d d itio n a l r e s p o n s ib ilit ie s .
E x e c u tiv e

q u a li­

c a p a b le o f h a n d lin g

T r a in e e s

M a n y la r g e b a n k s h a v e s p e c ia l tr a in in g p r o g r a m s fo r e m ­
p lo y e e s w h o m th e y c o n s id e r to b e fu t u r e c a n d id a te s f o r p o s it io n s
a s b an k o ffic e r s .
T h e s e e x e c u tiv e tr a in e e jo b s a r e u s u a lly fille d
b y in e x p e r ie n c e d p e o p le w it h c o lle g e d e g r e e s , a lth o u g h h ig h s c h o o l
g r a d u a t e s o f o u ts ta n d in g p r o m is e w h o h a v e b a n k in g e x p e r ie n c e a r e
s o m e tim e s c o n s id e r e d .
A f t e r t h e t r a i n i n g p e r i o d i.s c o m p l e t e d , t h e s e t r a i n e e s a r e
g iv e n r e g u la r b a n k a s s ig n m e n t s , th e n a tu r e o f w h ic h v a r i e s w ith
th e in d iv id u a l a n d w ith th e e m p lo y in g b a n k .
H o w e v e r , th e y u s u a lly
w o r k a s c r e d it o r in v e s t m e n t a n a ly s t s o r in s u it a b le jo b s in th e
b o o k k e e p in g , p r o o f, o r p a y in g a n d r e c e iv in g d e p a r tm e n t.
P ro m o ­
tio n d e p e n d s u p o n jo b o p e n in g s a n d th e a b ilit y o f th e t r a in e e .
M any
s m a ll b a n k s ca n n o t o p e r a te s p e c ia l e x e c u tiv e tr a in e e p r o g r a m s ,
b u t g iv e t h e ir p r o m is in g e m p lo y e e s a n o p p o r tu n ity to l e a r n th e
w o r k o f th e v a r io u s d e p a r tm e n ts so th a t th e y m a y b e e lig ib le fo r
p r o m o tio n to e x e c u t iv e p o s it io n s .
O ffic e r s
R e s p o n s i b i l i t y f o r th e s u c c e s s f u l o p e r a t io n o f a l l th e b a n k 's
d e p a r tm e n ts r e s id e s in its o f f i c e r s w h o a r e e le c t e d b y a n d a r e
r e s p o n s ib le to th e b o a r d o f d ir e c t o r s .
T h e n u m b er o f o ffic e r s
a n d t h e ir t it l e s a n d r e s p o n s i b i li t i e s d if f e r g r e a t ly d e p e n d in g o n
s u c h f a c t o r s a s th e s iz e o f th e b a n k a n d th e p a r t ic u la r s e r v ic e s
o ffe re d .
T h e a s s is t a n t o f f ic e r s - - f o r e x a m p le , a s s is t a n t c a s h ­
ie r ,

a s s is ta n t t r e a s u r e r ,

an d a s s is ta n t v ic e p r e s id e n t - - m a y

each

b e r e s p o n s ib le fo r th e o p e r a tio n o f o n e o r m o r e o f th e s m a lle r d e ­
p a r t m e n t s o f th e b a n k o r m a y a c t a s a s s is t a n t s to s e n io r o f f ic e r s
who a re

in c h a r g e




o f th e la r g e r

d e p a rtm e n ts.

-

16

-

B a n k s v a r y g r e a t ly in t h e ir d e p a r tm e n ta l s e t u p .

H ow ever,

th e fo llo w in g d e p a r tm e n ts a r e u s u a lly fo u n d in m o s t la r g e b a n k s :
o p e r a t io n s ( in c lu d in g th e s e r v i c i n g o f d e p o s it a c c o u n t s , a c c o u n t ­
in g ,

a n d o th e r in te r n a l fu n c tio n s ),

c o n s u m e r lo a n s ,
b a n k in g ,
Som e v
m e n ts,
each m
m e n ts,
m ay be
d e n ts.

in v e s tm e n ts ,

r e a l e s ta te ,

tru s t,

c r e d it,

b u s in e s s lo a n s ,

c o r r e s p o n d e n t b a n k in g ,

p e r s o n n e l,

p u r c h a s in g ,

fo r e ig n

a n d p u b lic

r e la tio n s .

ic e p r e s id e n ts m a y h a v e r e s p o n s ib ility fo r s e v e r a l d e p a r t­
b u t in s o m e c it y b a n k s , w h e r e a ll d e p a r tm e n ts a r e la r g e ,
a y b e h a n d le d b y a s e c o n d v i c e p r e s i d e n t .
T h e d e p a rt­
s u p e r v is e d b y s e c o n d v ic e p r e s id e n ts an d v ic e p r e s id e n ts ,
c o n s o lid a t e d in to d iv is io n s h e a d e d b y s e n io r v i c e p r e s i ­

T h e b a n k p r e s id e n t e x e r c i s e s g e n e r a l s u p e r v is io n o v e r th e
bank.
S u b je c t to th e a p p r o v a l o f th e d ir e c t o r s , th e p r e s id e n t m a y
c o n t r o l a l l b a n k in g t r a n s a c t io n s ( w ith in th e p r o v i s i o n s o f la w , th e
b a n k 's c h a r t e r a n d b y l a w s , a n d th e p o l i c i e s l a i d d o w n b y th e b o a r d
o f d ir e c to r s ) .
H e u s u a lly t a k e s a n a c t iv e p a r t in d e te r m in in g w h a t
lo a n s a n d in v e s tm e n ts s h a ll b e m a d e .
H o w e v e r, so m e s m a ll b a n k s
a r e ru n a lm o s t e n t ir e ly b y th e c a s h ie r .
In s u c h c a s e s , th e p r e s i ­
d e n t is u s u a lly m o r e o r le s s in a c tiv e a s a n o ffic e r an d c o n c e r n s
h im s e lf m a in ly w ith m a t t e r s b r o u g h t b e f o r e th e b a n k d ir e c t o r s .
S p e c ia liz e d P e r s o n n e l
B a n k s o fte n n e e d p r o f e s s io n a l s p e c i a li s t s o f v a r io u s k in d s a s
a d v is o r s o n te c h n ic a l p r o b le m s .
T h e y e m p lo y l a w y e r s to s o lv e
m a n y l e g a l q u e s tio n s th a t a r i s e in c o n n e c tio n w ith b a n k in g o p e r a ­
tio n s a n d to a d v is e c u s t o m e r s .
E n g in e e r s in v a r io u s f i e l d s o f
s p e c i a l i z a t io n a r e s o m e t im e s c a l le d in a s t e c h n ic a l e x p e r t s to
m a k e a p p r a i s a l s r e la t in g to lo a n s f o r m a n u fa c t u r in g , m in in g ,
u t ilit y o r o th e r p r o je c t s in v o lv in g e n g in e e r in g .
E c o n o m is ts an d
s t a t i s t i c i a n s m a y b e e m p lo y e d to c o n d u c t r e s e a r c h a n d c o m p ile
r e p o r t s o n s u c h s u b je c ts a s m a r k e t s a n d b u s in e s s c o n d itio n s .
A c c o u n t a n t s m a y b e u s e d f o r s u c h p u r p o s e s a s a u d itin g r e c o r d s
o f tb e b a n k a n d its b r a n c h e s o r s e ttin g u p n ew r e c o r d - k e e p in g
sy s te m s .
T h e s e r v ic e s o f a d v e r tis in g s p e c ia lis ts !, jo u r n a lis t s ,
p e r s o n n e l s p e c ia lis t s , o r p u b lic r e la t io n s e x p e r t s m a y a ls o b e
u sed by ban ks.
S o m e v e r y la r g e b a n k s
b a s is .

e m p lo y

S m a lle r b a n k s m a y h ir e

b a s is .




su ch

th e m

s p e c ia lis ts

on a fu ll- tim e

o n a d a y - t o - d a y c o n s u ltin g

-

17

-

HOW T O E N T E R AND A D V A N C E

Q u a lific a tio n s f o r E n tr y
H igh s c h o o l g r a d u a tio n is s u ffic ie n t e d u c a tio n a l p r e p a r a t io n
f o r m o s t e n tr y jo b s in b a n k s . Y ou n g m e n and w o m e n ju s t out o f
h igh s c h o o l w h o a r e in t e llig e n t, o f g o o d c h a r a c t e r , and in t e r e s t e d
in ban k in g a r e c o n s id e r e d e x c e lle n t c a n d id a te s f o r b e g in n in g c l e r i ­
c a l p o s it io n s . A lth ou g h n ot e s s e n t ia l, b u s in e s s e d u c a tio n c o u r s e s
a r e u s u a lly an a s s e t . A m o n g the s p e c ia liz e d h ig h -s c h o o l c o u r s e s
u s e fu l in ban kin g a r e b o o k k e e p in g , ty p in g , sh o rth a n d , o p e r a t io n o f
o f f i c e m a c h in e s (ad d in g m a c h in e s , c a l c u l a t o r s , and b o o k k e e p in g
m a c h in e s ), e c o n o m i c s , b u s in e s s a r it h m e t ic , and b u s in e s s la w . In
c o n s id e r in g jo b a p p lic a n t s , e m p lo y e r s f a v o r t h o s e w h o h av e w o r k e d
in a s c h o o l ban k o r h e ld a s u m m e r -t im e jo b in a ban k.
A h ig h -s c h o o l g ra d u a te w ith ou t p r e v io u s e x p e r ie n c e m a y b e
a s s ig n e d im m e d ia t e ly a s a f i l e c l e r k , t r a n s it c l e r k , p r o o f-m a c h in e
o p e r a t o r , o r b o o k k e e p in g -m a c h in e o p e r a t o r , and w ill le a r n h is d u ­
t ie s on the jo b . In s o m e v e r y la r g e b a n k s b e g in n e r s a r e a s s ig n e d
to a g e n e r a l p o o l a s c l e r i c a l t r a in e e s and then p la c e d in the v a r io u s
d e p a r tm e n ts a s o p e n in g s o c c u r .
C o lle g e g r a d u a te s a r e b e in g h ir e d b y b a n k s in in c r e a s in g n u m ­
b e r s , a lth ou g h th ey s t ill r e p r e s e n t o n ly a s m a ll p r o p o r t io n o f a ll
new e m p lo y e e s . E n tr y jo b s f o r c o l l e g e p e o p le d i f f e r c o n s id e r a b ly
b e tw e e n b ig c it y b a n k s and s m a ll c it y o r c o u n t r y b a n k s .
M o s t b ig c it y b a n k s h av e m o r e o r l e s s f o r m a liz e d tr a in in g p r o ­
g r a m s f o r c o l l e g e g r a d u a te s , w h ich v a r y in le n g th f r o m 6 m on th s
to 2 y e a r s . S om e p r o g r a m s in v o lv e w o r k in g at v a r io u s c l e r i c a l jo b s
f o r s h o r t p e r io d s in s e v e r a l o f the b a n k 's d e p a r t m e n ts . O th er p r o ­
g r a m s r e q u ir e t r a in e e s to spen d t im e stu d y in g , o b s e r v in g , and w r i t ­
ing r e p o r t s on the o p e r a t io n s o f the v a r io u s d e p a r t m e n ts . T h e s e
p r o g r a m s a r e d e s ig n e d to g iv e the t r a in e e a th o r o u g h g ro u n d in g in
a ll a s p e c t s o f ban king b u s in e s s and to d i s c o v e r the t r a i n e e 's i n t e r ­
e s t s and c a p a b ilit ie s , in o r d e r to fin d a p e r m a n e n t a s s ig n m e n t
w h ich w ill b e b e s t in t e r m s o f h is lo n g -r u n d e v e lo p m e n t in to an e x ­
e c u t iv e o f the b a n k . U n d er a n o th e r ty p e o f tr a in in g p r o g r a m the
c o l l e g e m a n is g iv e n a s p e c i f i c a s s ig n m e n t at o n c e , a s d e t e r m in e d
b y h is in t e r e s t s and the n e e d s o f the b a n k , and he a c q u ir e s the
" f e e l ” o f b an k in g a s he g o e s a lo n g . F r e q u e n t ly c r e d i t a n a ly s is is
on e o f the e a r ly a s s ig n m e n t s g iv e n to c o l l e g e g r a d u a te s .




-

18

-

In s m a ll b a n k s , tr a in in g is m u ch l e s s f o r m a l. A new e m ­
p lo y e e w ith a c o l l e g e d e g r e e is u s u a lly r e q u ir e d to p e r f o r m c l e r i ­
c a l d u ties in v a r io u s d e p a r tm e n ts u n til h is c a p a b ilit ie s a r e d e t e r ­
m in e d , he has g a in e d the n e c e s s a r y e x p e r ie n c e , and a v a c a n c y
o c c u r s in a m o r e r e s p o n s ib le p o s it io n . In v e r y s m a ll b a n k s , the
c o l l e g e g ra d u a te m a y at f i r s t p e r f o r m the s a m e d u tie s a s the e n ­
tra n t w ith o n ly h igh s c h o o l p r e p a r a t io n , but the f o r m e r 1s c h a n c e s
o f a d v a n c e m e n t to a p o s it io n a s an o f f i c e r m a y b e g r e a t e r .
E n tr y in to ban k in g o c c u p a t io n s d o e s not u s u a lly r e q u ir e the
s p e c ia liz e d c o l l e g e e d u c a tio n n e e d e d f o r m o s t p r o f e s s i o n s . In
f a c t , the m a jo r fie ld o f u n d e r g r a d u a te s p e c ia liz a t io n is not o f p r i ­
m a r y im p o r t a n c e f o r e m p lo y m e n t in ban kin g (e x c e p t f o r a fe w
s p e c ia l a s s ig n m e n t s ). S e v e r a l c o u r s e s o f stu dy a r e , n e v e r t h e ­
l e s s , c o n s id e r e d g o o d p r e p a r a t io n f o r a ban kin g c a r e e r . A b u s i ­
n e s s a d m in is tr a t io n c u r r ic u lu m w ith a m a jo r in ban k in g p r o v id e s
the m o s t s p e c ia liz e d tr a in in g a v a ila b le . O th er p o s s i b i l i t i e s in ­
c lu d e a b u s in e s s a d m in is tr a t io n c u r r ic u lu m w ith a m a jo r in a
r e la t e d f ie ld su ch a s a c c o u n t in g , s t a t is t ic s o r fin a n c e , o r a lib e r a l
a r t s c u r r ic u lu m w ith c o u r s e s in s o m e o f the fo llo w in g s u b je c t s :
e c o n o m ic s ( p a r t ic u la r ly m o n e y and b a n k in g , fin a n c e , and c o r p o r ­
ate o r g a n iz a t io n ), p o lit ic a l s c i e n c e , c o m m e r c i a l la w , a c c o u n tin g ,
and s t a t is t ic s . C o u r s e s in E n g lis h c o m p o s it io n a r e a ls o d e s ir a b le .
E m p lo y e r s in ban k s u s u a lly la y g r e a t s t r e s s on le a d e r s h ip
a b ilit y a s a q u a lific a t io n f o r new e n tr a n ts . A c o l l e g e t r a in e e is
e x p e c t e d to b e m a t u r e , w e ll-p o is e d and p e r s o n a b le , a g g r e s s i v e ,
g r e g a r io u s , w ith an e n g a g in g p e r s o n a lit y ~ in s h o r t, a p e r s o n w ho
lik e s s e llin g .
A p p ly in g f o r a Job
A p e r s o n w ho w is h e s to e n te r b an k in g has s e v e r a l p o s s ib le
a v e n u e s o f a p p r o a c h . He m a y a p p ly in p e r s o n o r in w r itin g to the
e m p lo y m e n t o f f i c e o f a ban k o r to the ba n k o f f i c i a l in c h a r g e o f
p e r s o n n e l. A r e c o m m e n d a t io n b y an e m p lo y e e o f the b a n k o r on e
o f the b a n k 's c u s t o m e r s is o fte n h e lp fu l. R e lia b le l o c a l r e f e r e n c e s
a r e e x t r e m e ly im p o r ta n t.
S o m e t im e s e m p lo y e r s r e c r u i t a p p lic a n ts r e c o m m e n d e d b y
h ig h -s c h o o l v o c a t io n a l c o u n s e l o r s , t e a c h e r s o f b u s in e s s s u b je c t s ,
and c o lle g e p la c e m e n t o f f i c e r s . A few b a n k s sen d r e p r e s e n t a t iv e s
to c o l l e g e c a m p u s e s to r e c r u i t m e n f o r th e ir e x e c u t iv e tra in in g
p r o g r a m s . In a d d itio n , b a n k s s o m e t im e s p la c e w ant a d s in the
d a ily p a p e r s . A n y o n e lo o k in g f o r ban k e m p lo y m e n t sh ou ld a ls o
c o n s u lt the l o c a l o f f i c e o f the State e m p lo y m e n t s e r v i c e , w h ich is
a ffilia t e d w ith the U. S. E m p lo y m e n t S e r v ic e .




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19

-

R e g a r d le s s o f how the in itia l c o n t a c t is m a d e , th e r e w ill b e
a p e r s o n a l in t e r v ie w w ith on e o r m o r e b a n k o f f i c i a l s b e f o r e the
a p p lic a n t is h ir e d . S om e b a n k s a ls o r e q u ir e jo b a p p lic a n ts to
tak e in t e llig e n c e and c l e r i c a l a p titu d e t e s t s .
O p p o r tu n itie s f o r A d v a n c e m e n t
Of e a c h 100 e m p lo y e e s in b a n k in g , a p p r o x im a t e ly 17 a r e o f f i ­
c e r s and 10 a r e s e n io r s u p e r v is o r s ^ 3 In s e le c t in g th e s e s e n io r
s u p e r v is o r y e m p lo y e e s , and a ls o u n it and s e c t io n s u p e r v is o r s ,
m o s t b a n k s fo llo w a ffp r o m o t io n -fr o m -w it h in M p o l i c y . A s a r e s u lt ,
the b e s t p o s it io n s in the ba n k a r e g e n e r a lly o c c u p ie d b y e m p lo y e e s
w ith lon g s e r v i c e , a m o n g w h om t u r n o v e r is v e r y lo w .
T he lin e s o f a d v a n c e m e n t in b a n k s a r e f a i r l y w e ll d e fin e d .
T h e y fo llo w , in g e n e r a l, the jo b la d d e r p r e v io u s ly d e s c r ib e d in
the s e c t io n o f th is r e p o r t on 1 J o b s in B a n k in g 1 . F r o m a r o u tin e
1
1
c l e r i c a l jo b , p r o m o t io n m a y b e to a m in o r s u p e r v is o r y p o s it io n ,
to t e lle r o r a n a ly s t, th e n c e to a s e n io r s u p e r v is o r y p o s it io n , and
fin a lly to ban k o f f i c e r . A lth o u g h the tr e n d is to w a rd u s in g c o lle g e
g r a d u a te s to f i l l o f f i c e r p o s t s , ou tsta n d in g p e r s o n s w ith ou t su ch
tr a in in g s t ill h av e a g o o d c h a n c e to b e c o m e o f f i c e r s , e s p e c ia lly in
s m a ll b a n k s.
O p en in gs at the h ig h e r l e v e ls r e s u lt not o n ly f r o m d ea th s and
r e t ir e m e n t s o f b a n k o f f i c e r s and s u p e r v is o r s but a ls o f r o m ban k
e x p a n s io n and the c o n s e q u e n t n e e d f o r an e n la r g e d s u p e r v is o r y
s ta ff. A n im p o r ta n t f a c t o r in p r o m o t io n s h as b e e n the e s t a b lis h ­
m e n t o f b r a n c h ban k s in S tates w h e r e b r a n c h b a n k in g is p e r m it t e d .
It is d iffic u lt to g e n e r a liz e ab ou t the r a te o f a d v a n c e m e n t.
P r o m o t io n s c o m e m o s t s lo w ly in s m a ll tow n b a n k s , w h ich a r e
o p e r a t e d la r g e l y a s f a m ily e n t e r p r is e s and w h e r e lit t le tu r n o v e r
o c c u r s a m o n g the top p o s it io n s . In s o m e o f the l a r g e r ban k s w h ich
h ave s p e c ia l tra in in g p r o g r a m s f o r c o l l e g e g r a d u a te s , an e f f o r t is
m a d e to a c c e l e r a t e at le a s t in itia l p r o m o t io n s . H o w e v e r , it u s u ­
a lly ta k es a lo n g tim e to a c q u ir e the in tim a te k n o w le d g e o f the
o p e r a t io n s o f the b a n k , its c u s t o m e r s , and the c o m m u n ity , w h ich
is n e c e s s a r y f o r s e n io r p o s it io n s .
T h ou gh the b e s t p r e p a r a t io n f o r p r o m o t io n is e x p e r ie n c e in
the jo b im m e d ia t e ly b e lo w , s p e c ia l c o u r s e s h elp on e to a d v a n ce
m o r e q u ic k ly . O p p o r tu n itie s f o r su ch p r e p a r a t io n a r e e x t r e m e ly
g o o d in b a n k in g , p r i m a r i l y b e c a u s e o f the e x is t e n c e o f an in d u s t r y s p o n s o r e d s c h o o l, the A m e r ic a n In stitu te o f B a n k in g , w h ich has
13 B r o w n , J. S ta n ley , Y ou and B a n k in g , A m e r ic a n In stitu te
o f B a n k in g, 1950 (p. 3).



- 2 0

-

b e e n in o p e r a t io n s in c e 1900. T h e In stitu te, w ith a c l a s s e n r o l l ­
m e n t o f 50, 000 in 1950, h as 258 c h a p t e r s lo c a t e d th rou g h ou t the
U n ited S ta te s. Its w e ll-e s t a b lis h e d c u r r ic u lu m in c lu d e s c o u r s e s
in e v e r y p h a s e o f b a n k in g .1 4 In m o s t c a s e s tu itio n is p a id b y the
ba n k u p on s u c c e s s f u l c o m p le t io n o f the c o u r s e b y the e m p lo y e e .
T h e In stitu te c u r r ic u lu m is d iv id e d in to t h r e e d i v i s i o n s — r e ­
p
s ta n d a r d , s ta n d a rd , and g ra d u a te c o u r s e s . The p r e s t a n d a r d
c o u r s e s a r e : F u n d a m e n ta ls o f B a n k in g , S a v in g s B a n k in g , C o m ­
m e r c i a l L a w , N e g o tia b le In s tr u m e n ts , and E c o n o m ic s . B u s in e s s
A d m in is t r a t io n , M o n e y and B a n k in g, and A c c o u n t in g I and II a r e
s ta n d a rd c o u r s e s . G ra d u a te c o u r s e s a r e : A n a ly z in g F in a n c ia l
S ta te m e n ts , C r e d it A d m in is t r a tio n , B ank A d m in is t r a t io n , C o r ­
p o r a t io n F in a n c e , In v e s tm e n ts , T r u s t s I and II, C o n s u m e r C r e d it ,
H om e M o r tg a g e L e n d in g , E f f e c t iv e S p ea k in g, and E f f e c t iv e B ank
L e t t e r s . C e r t if ic a t e s a r e a w a r d e d in e a c h d i v i s i o n — r e s t a n d a r d ,
p
s ta n d a rd , and g r a d u a te . .G e n e r a lly , c o m p le t io n o f 4 c o u r s e s is
n e c e s s a r y f o r a c e r t i f i c a t e . T h e te x tb o o k s u s e d in a ll c e r t i f i c a t e
c o u r s e s h a v e b e e n w r it t e n e x p r e s s l y f o r the A m e r ic a n In stitu te o f
B a n k in g. F a c ilit y m e m b e r s a r e r e c r u it e d f r o m a m on g le a d in g
b a n k e r s , la w y e r s , a c c o u n t a n t s , and t e a c h e r s in c o l l e g e s and
u n iv e r s it ie s .
F o r fu r t h e r a d v a n c e d tr a in in g th e r e a r e g ra d u a te s c h o o ls
w h e r e b a n k e r s m a y spen d a b ou t 2 w e e k s a y e a r f o r 3 y e a r s , u s u ­
a lly d u rin g the s u m m e r , stu d y in g the m o r e in t r ic a t e ban k in g p r o b ­
le m s in a u n iv e r s it y a t m o s p h e r e . 1
O ne o f the b e t t e r know n is the
G ra d u a te S c h o o l o f B an kin g h e ld e a c h s u m m e r at R u tg e r s U n iv e r ­
s ity b y the A m e r ic a n B a n k e r s A s s o c ia t io n . M o s t m e n a tten d in g
th is s c h o o l a lr e a d y h ave ban k in g p o s it io n s o f c o n s id e r a b le r e s p o n ­
s ib ilit y , and a tte n d a n ce at the s c h o o l is lo o k e d u p on a s a m a r k o f
d is t in c t io n . A n u m b e r o f s im ila r s c h o o ls a r e c o n d u c te d e a c h y e a r
u n d er the a u s p ic e s o f State b a n k e r s 1 a s s o c ia t io n s .

b

E x p e r ie n c e in ban kin g m a y q u a lify on e f o r r e la t e d jo b s in b u s i ­
n e s s and g o v e r n m e n t. It is not u n u su al f o r e x p e r ie n c e d ba n k e m ­
p lo y e e s to jo in the s ta ff o f o th e r b u s in e s s f i r m s — s o m e t im e s f i r m s
w h o a r e c u s t o m e r s o f the ban k . B a n k in g e x p e r ie n c e is w e ll r e ­
g a r d e d f o r b u s in e s s p o s it io n s c o n n e c t e d w ith the m a n a g e m e n t o f
fin a n c ia l a f f a i r s , f o r e x a m p le , in the t r e a s u r e r 's o r c o m p t r o l l e r 's
o ffic e .

14A m e r ic a n In stitu te o f B a n k in g , 1952-53 c a t a lo g u e , N ew Y o r k ,
N. Y .
1
*S ee A p r il 1953 is s u e o f B a n k in g , the J o u rn a l o f A m e r ic a n
B a n k e r s A s s o c ia t io n , f o r a c o m p le t e l i s t o f t h e s e g r a d u a te s c h o o ls .




- 2 1

-

E x p e r ie n c e in a ban k m a y a ls o q u a lify on e f o r the p o s it io n o f
b a n k -e x a m in e r t r a in e e in the F e d e r a l o r State g o v e r n m e n t . 1 6 In
e a r ly 1953, the F e d e r a l D e p o s it In s u r a n ce C o r p o r a t io n had a s ta ff
o f a b ou t 550 e x a m in e r s ; the o f f i c e o f the C o m p t r o lle r o f the C u r ­
r e n c y , 800; and the F e d e r a l R e s e r v e B a n k s, a b ou t 325. 17 State
ban k in g d e p a r tm e n ts a ls o e m p lo y e d a b ou t 1, 000 b a n k e x a m in e r s .
It is e s tim a te d that 3, 000 ban k e x a m in e r s w e r e e m p lo y e d b y a ll
b a n k s u p e r v is o r y a g e n c ie s in the U nited S tates in 1953.
A d v a n c e m e n t o p p o r tu n itie s f o r w o m e n . — b o u t 55 p e r c e n t o f
A
a ll b a n k e m p lo y e e s a r e w o m e n . 1 8 A lth ou g h the m a jo r it y o f w o m e n
a r e e m p lo y e d a s c l e r k s o r o f fic e -m a c h in e o p e r a t o r a , o p p o r t u n i­
t ie s f o r w o m e n to a d v a n c e to t e lle r p o s it io n s h a v e g r e a t ly i m ­
p r o v e d s in c e the b e g in n in g o f W o r ld W ar II. W o m e n h e ld 44 p e r ­
c e n t o f a ll t e lle r p o s it io n s in 1950, a c c o r d in g to the U. S. C e n su s
o f P o p u la tio n . O p p o r tu n itie s f o r a d v a n c e m e n t to s u p e r v is o r y
p o s it io n s a r e g o o d b e c a u s e o f the h igh p r o p o r t io n o f w o m e n c l e r i ­
c a l e m p lo y e e s . A stu dy o f 12 b a n k s in P h ila d e lp h ia and C h ic a g o
in 1948-49 r e v e a le d that 19 p e r c e n t o f the **h ig h e r le v e l* 1p o s it io n s
in P h ila d e lp h ia ban k s w e r e f ille d b y w o m e n ; the c o r r e s p o n d in g
p e r c e n t a g e w a s 13 in C h ic a g o . 19 M o s t o f th e s e w o m e n w e r e e m ­
p lo y e d a s t e l l e r s o r c l e r i c a l s u p e r v is o r s .
W o m e n ban k o f f i c e r s a r e no lo n g e r a r a r it y , alth ou g h th e s e
p o s it io n s a r e m o r e d iff ic u lt f o r th em to a tta in than s u p e r v is o r y
p o s t s . T h e f a c t is that m o s t w o m e n d o not sta y w ith b a n k s lo n g
en ou gh to q u a lify f o r p o s it io n s a s o f f i c e r s . N e v e r t h e le s s , a 1951
s u r v e y d i s c l o s e d that o v e r 7 p e r c e n t (abou t 6, 000) o f a ll ban k
o f f i c e r s w e r e w o m e n . 2u B y fa r the g r e a t e s t n u m b e r s (4, 160) w e r e
e m p lo y e d a s a s s is t a n t c a s h i e r s ; 530 w e r e e m p lo y e d a s c a s h i e r s ,
375 a s v i c e p r e s id e n t s , and m o r e than 100 e a c h in a s s is t a n t s e c ­
r e t a r y , a s s is t a n t t r e a s u r e r , and a s s is t a n t t r u s t o f f i c e r p o s it io n s .

1 6 See f o r e x a m p le , a n n o u n ce m e n t o f e x a m in a tio n f o r ba n k
e x a m in e r , U. S. Sixth C iv il S e r v ic e R e g io n , M a y 26, 1952.
1
'D o e s not in c lu d e 930 (a p p r o x im a te ) s p e c ia l a s s is t a n t e x ­
a m in e r s n ot r e g u la r ly en g a g ed in ban k e x a m in in g w o r k .
1
8P e p p e r , C a th e rin e S. , "W o m e n in B a n k in g , " in T h e W om a n
B a n k e r , A p r il-M a y ,. 1952.
A9U .S . D e p a rtm e n t o f L a b o r , W o m e n s B u r e a u , W o m e n in
H ig h e r -L e v e l P o s i t i o n s , B u lle tin N o. 236, 1950.
20P e p p e r , C a th e rin e S. , ’ ’W o m e n in B a n k in g ", in The W om a n
B a n k e r , A p r il-M a y 1952.




-

22

-

T op p h o t o g r a p h — A t e l l e r c h e c k s c u s t o m e r s 1 r e c o r d s in the
s a v in g s d e p a r t m e n t.

L o w e r p h o t o g r a p h - - A m a c h in e o p e r a t o r p h o t o g r a p h s c a n c e l e d
checks.



-

23

-

L O C A T IO N O F B A N K E M P L O Y M E N T

E m p lo y m e n t o p p o r tu n itie s in c o m m e r c i a l b a n k in g a r e to b e
fou n d in s m a ll tow n s th rou g h ou t the c o u n t r y , a s w e ll a s in b ig
c i t i e s . It is a s m a ll c o m m u n ity in d e e d that d o e s not h a v e at
le a s t on e ban k. B ank e m p lo y m e n t i s , h o w e v e r , c o n c e n t r a t e d to
s o m e ex ten t in p o p u la tio n c e n t e r s . O v e r tw o -fifth s o f the e m ­
p lo y e e s o f in s u r e d c o m m e r c i a l ban ks w o r k in the fo u r S tates
w ith the la r g e s t p o p u la t io n s —
New Y o r k , C a lifo r n ia , P e n n s y lv a ­
n ia , ahd I llin o is (ta b le 1 and c h a r t 1). F a r m o r e ban k e m p lo y e e s
a r e lo c a t e d in N ew Y o r k C ity , the fin a n c ia l c a p ita l o f the w o r ld ,
than in an y o th e r c it y . 2 1
E m p lo y m e n t is a ls o c o n c e n t r a t e d in the la r g e s t b a n k s , M o r e
than 45 p e r c e n t o f a ll ban k w o r k e r s in 1952 w e r e e m p lo y e d b y the
213 la r g e s t in s titu tio n s , w h ich r e p r e s e n t e d l e s s than 2 p e r c e n t o f
the to ta l n u m b e r o f in s u r e d c o m m e r c i a l b a n k s .22 B a n k s w ith
l e s s than $ 5 m illio n in d e p o s it s r e p r e s e n t e d m o r e than 70 p e r ­
ce n t o f the to ta l n u m b e r , but e m p lo y e d o n ly 16 p e r c e n t o f the
w o r k e r s . The a v e r a g e n u m b e r o f e m p lo y e e s (in clu d in g o f f i c e r s )
p e r c o m p a n y w a s s lig h tly o v e r 30 f o r the ban k in g in d u s tr y a s a
w h o le . H o w e v e r , ban ks w ith l e s s than $ 5 0 0 , 000 in d e p o s it s had
an a v e r a g e o f o n ly 3 e m p lo y e e s , c o m p a r e d w ith an a v e r a g e o f
m o r e than 900 e m p lo y e e s f o r c o m p a n ie s w ith $ 1 0 0 m illio n o r
o v e r in d e p o s it s .
T h e r e c e n t tre n d to w a rd the e s ta b lis h m e n t o f sh op p in g c e n ­
t e r s in the su b u rb s o f la r g e c it ie s h as le d to the op en in g o f b r a n c h
b a n k s in m a n y o f th e s e a r e a s . T h is m e a n s that jo b o p p o r tu n itie s
in ban k in g a r e b e c o m in g s o m e w h a t m o r e w id e ly d is t r ib u t e d a ro u n d
the o u t s k ir t s o f la r g e c i t i e s .
A few e m p lo y m e n t o p p o r tu n itie s f o r e x e c u t iv e t r a in e e s e x is t
in f o r e ig n c o u n t r ie s . S e v e r a l la r g e ban k s m a in ta in b r a n c h e s
a b r o a d and w e ll q u a lifie d e m p lo y e e s m a y b e g iv e n a s s ig n m e n t s in
th e s e o f f i c e s .

21 T h is s e c t io n r e f e r s o n ly to " in s u r e d " b a n k s . In su re d ban k s
a r e th o s e w h o s e d e p o s it s a r e in s u r e d (up to $ 10, 000 f o r e a c h a c ­
cou n t) b y the F e d e r a l D e p o s it In s u r a n ce C o r p o r a t io n . O v e r 96 p e r ­
c e n t o f a ll the c o m m e r c i a l ban k s in the U nited S tates a r e in s u r e d
ban k s o f the F D IC .
2 2 F e d e r a l D e p o s it In s u r a n ce C o r p o r a t io n , A n nual R e p o r t
f o r the Y e a r E n ded D e c e m b e r 31, 1952, ta b le 114 (p. 123).




T a b le 1. — is t r ib u t io n o f in s u r e d c o m m e r c i a l b a n k s and ban k e m p lo y e e s
D
b y S tate, D e c e m b e r 31, 1952

B an ks and b r a n c h e s

E m p lo y e e s 1

State
N u m b er

P ercen t

N u m b er

P ercen t

T o t a l .................................................

1 8 ,9 2 5

100. 0

4 3 5 , 079

100. 0

A l a b a m a .....................................................
A r i z o n a .....................................................
A r k a n s a s .................................................
C a l i f o r n i a .................................................
C o l o r a d o .....................................................
C o n n e c t ic u t ..............................................
D e l a w a r e .................................................
D i s t r i c t o f C o lu m b ia ..........................
F l o r i d a .................................... ...................
G e o r g i a ............................................
Id a h o .................................................
I l l i n o i s ........................................................
I n d ia n a .......................... .............................
Io w a ..............................................................
K a n s a s ........................................................
K e n tu c k y .....................................................
L o u i s i a n a .................................................
M a i n e ........................................................
M a r y l a n d .................................................
M a s s a c h u s e t t s .......................................
M ic h ig a n .....................................................
M in n e s o t a .................................................
M i s s i s s i p p i ..............................................
M i s s o u r i ....................................................
M o n t a n a ....................................................
N e b r a s k a .................................................
N e v a d a ........................................................
N ew H a m p s h i r e ..............................
N ew J e r s e y ..............................................
New M e x i c o ......................................
N ew Y o r k .........................................
N o rth C a r o lin a .................................
N orth D a k o t a ....................................

259
83
246
1 ,2 2 3
153
163
63
67
219
392
101
886
596
769
476
419
255
127
295
372
690
670
272
577
109
371
30
59
497
74
1 ,4 5 6
480
168

1 .4
.4
1. 3
6. 5
.8
.9
.3
.4
1. 2
2. 1
.5
4. 7
3. 2
4. 1
2. 5
2. 2
1. 3
.7
1. 6
2. 0
3. 6
3. 5
1 .4
3. 0
.6
2. 0
.2
.3
2. 6
.4
7. 7
2. 5
.9

4 , 139
2, 502
2, 646
4 2 ,2 8 3
3, 829
5, 681
1 ,4 6 9
3, 399
6, 804
6, 605
1 ,4 7 0
2 7 ,0 5 8
9 ,4 6 9
6, 875
4, 728
5 ,2 5 4
4 ,9 9 0
1 ,6 9 4
5 ,2 4 1
1 3 ,7 6 2
1 6 ,0 2 1
9 ,9 1 6
2, 888
13, 399
1, 650
3 ,8 2 4
624
848
1 5 ,1 3 1
1 ,4 1 5
7 5, 075
6, 169
1 ,4 9 0

1. 0
.6
.6
9 .7
.9
1. 3
.3
.8
1. 6
1. 5
.3
6. 2
2. 2
1. 6
1. 1
1. 2




1. 1
.4
1. 2
3. 2
3. 7
2. 3
.7
3. 1
.4
.9
.1
.2
3. 5
.3
17. 2
1 .4
.3

-

25

-

Table 1. —
Distribution of insured com m ercial banks and bank employees
by State, December 31, 1952—
Continued

Banks and branches
State

Number

Percent

Em ployees1
Number

Percent

O h i o ...........................................................
O klahom a..................................................
O regon........................................................
Pennsylvania. .........................................
Rhode Is la n d ............................................
South C arolina........................................
South D ak o ta............................................
Tennessee ............................................ .
Texas ........................................................
Utah..............................................................
V erm on t.....................................................
Virginia .....................................................
W ashington...............................................
W est V i r g i n i a ........................................
Wisconsin ...............................................
Wyoming.....................................................

915
378
177
1, 175
62
198
222
403
891
89
77
443
276
178
695
52

4. 8
2. 0
.9
6. 2
.3
1. 0
1. 2
2. 1
4. 7
.5
.4
2. 3
1. 5
.9
3. 7
.3

1 9,546
5, 615
5, 046
3 1,46 0
2, 270
2, 512
1,870
6, 621
20, 972
1,974
945
7, 088
6 ,9 1 5
2 ,7 1 9
8 ,7 6 0
794

4. 5
1. 3
1.2
7 ,2
.5
.6
.4
1. 5
4 .8
.5
.2
1. 6
1. 6
.6
2. 0
.2

Alaska ........................................................
Puerto R i c o ............................................
Other a rea s...............................................

16
56
5

. 1
.3
(2)

305
1,203
116

. 1
.3
(2)

1Includes officers.
2L ess than 0. 05 percent.
Source:

Federal Deposit Insurance Corporation Annual Report for the Year
Ended December 31, 1952.




Chart 1.

DISTRIBUTION O F BA N K EMPLOYMENT B Y STA TE

Chart 1

UNITED STATES DEPARTMENT O F LAB O R
BUREAU OF LABOR STATISTICS




Source: Federal Deposit Insurance Corporation

-

27

-

EM PLOYM ENT TRENDS AND OUTLOOK
Past Trends
Today about 19, 000 insured com m ercial banking offices
handle well over 100 million accounts. 23 More than 400, 000
workers are employed in these banks.
The development of banking into M
big business1 has taken
1
place largely in the last 50 years. There were fewer than 9, 000
banking offices in the United States in 1900, with total deposits
amounting to less than $10 billion. 24 By 1922, the number of
banks and branches had risen to over 31, 000 (chart 2) with de­
posits near $35 billion. 25 Thereafter, the number of banking of­
fices began to decline —slowly at first and then abruptly following
the 1929 crash. Over 10, 000 banks closed during the early de­
pression years, reducing the total number of offices to about
17, 000 in 1933. The number of parent banks has continued to drop
slightly in most succeeding years, but largely as a result of m e r­
gers and consolidations. The decline has been offset, however,
by the steady rise in the number of branch banks. By 1952, the
expansion in branch banking had raised the total number of bank­
ing offices in the country to more than 19, 000 (chart 2) and total
deposits had grown to more than $ 170 billion. 26
Employment in banking has risen much more sharply since
the 1930fs than the rise in the number of banks and branches.
Between 1936 and 1952, employment in insured commercial

23
Refers to all types of accounts in insured banks, including
those of individuals, partnerships, and corporations, as well as
government and interbank deposits.
Source: Federal Deposit
Insurance Corporation Annual Report for the Year Ended D ecem ­
ber 31, 1951, (p. 75).
24Federal Reserve System, Banking and Monetary Statistics,
1943, (p. 34).
~
25Ibid, (p. 17).
26 Federal Deposit Insurance Corporation Annual Report for
the Year Ended December 31, 1952, table 105, (p. 98).




-

28

Chart 2

Chart 2. NUM OF COM ERCIAL BANKS AND BRANCHES
BER
M
In the United States ,1900-1952
Thousands

1900

Thousands

1905

UNHID STASIS OtPAITMINT O f lA tO t
SMMAtt Of LASOt SIAKSfKS




1910

1915

1920

1925

1930

1935

1940

1945

1950

1953

Source: U.S. Congress Joint Committee on the Economic Report,
Monetary Policy and the Management of the Public Debt,1952.
Tables XVI ,
x V i i l , and Federal Reserve Bulletin, August 1953.

-

29

-

banks27 increased by about 200, 000 or 87 percent (chart 3).
Employment increased in all years except 1938. Gains were
made even in years when the total number of bank offices de­
clined, indicating that the closing of small banks was more than
counterbalanced by the expansion of larger banks and their
branches. The greatest growth in employment has taken place
since World War 13. Over the 8-year period from 1945-1952, the
number of bank employees increased 43 percent, whereas, over
the 9 years, 1936-44, the increase was only 23 percent.
The growth in bank employment largely reflects the increase
in the number of persons and businesses served by banks. In
1936, there were 59 million accounts of all kinds in all insured
banks; by 1951, the number had reached 112 m illion. 28 In r e ­
lation to population, the rise was from 45 accounts per 100 p er­
sons in 1936 to 71 per 100 in 1951. 29
Perhaps the most important area of expansion has been in
sm all checking account services. The number of checking a c ­
counts of all types doubled from 1936 to 1951, reaching 44 m il­
lion. In recent years banks have actively solicited "econom y"
accounts, in which no minimum balance need be kept and on
which a service charge is paid, usually based on the number of
checks handled. Whereas banks form erly served mainly business­
men and the wealthy, banking has become more and more a se rv ­
ice for everyone in the community — serving large corporations
and other organizations with huge balances as well as individuals
with balances sm all enough to require economy checking accounts.
Many other banking services have expanded also. Consumer
installment loans30 made by com m ercial banks amounted to only

2
7Employment data are available for insured banks only in
the 1936-52 period. Insured com m ercial banks include approxi­
mately 96 percent of all banks and branches.
2
8 Federal Deposit Insurance Corporation Annual Report for
the Year Ended December 31, 1951, table 40 (p. 75). (All insured
banks included, in addition to com m ercial banks, 56 mutual sav­
ings banks in 1936, and 202 in 1951).
29 Ibid (p. 75).
30Personal installment cash loans, retail automobile direct
loans, and other retail direct loans.




-

30

-

$680 million in 1939; by 1951, loans of this type had increased
m ore than sixfold, to $ 4, 198 m illio n ,31 Along with this develop­
ment has gone expansion of real estate loans and expanded loan
services to small businessmen. Other services made available
in many banks include receiving of utility bill payments and sale
of Government defense bonds, travelers checks, and money
orders.
A s the workload of banking grew heavier and banks increased
in size, it became feasible to mechanize routine operations. The
hand bookkeeper has been displaced by the bookkeeping-machine
operator in most banks. Greater use has been made of machines
in sorting checks. Punch-card systems and tabulating machines
have been installed for many record-keeping purposes. The ex­
tensive use of such office machines has made it possible to han­
dle the greatly expanded volume of banking business with a con­
siderably smaller work force than would otherwise have been
necessary. Nevertheless, banking employment has expanded
since 1938 (chart 3).
Employment Prospects
Employment opportunities in clerical positions in banks are
expected to be numerous in the near future. Well qualified c o llege graduates will also find some openings in trainee positions.
Vacancies due to turnover (deaths, retirem ents, resignations)
will continue to be the largest source of job openings. Additional
employees will be needed to fill posts created by expanding se rv ­
ices of established banks and to staff newly formed branches,
assuming that the general level of business activity in the country
remains high. If there should be a period of recession, the ex­
pansion of the industry would probably be halted, banks would not
fill many vacancies, and there would be increased competition
among job applicants. However, persons already employed in
banks would probably have greater job security than those in many
other industries.
The favorable employment outlook for clerical workers in
banking over the next several years is due not only to the p ro s­
pect of relatively large numbers of job openings in a period of
general high-level employment, but also to the limited supply of
such workers. The 1 7 - to 21-year age group, the source of most

3 1Federal Reserve Bulletin, May 1952, (p. 552).




-

3 1

Chart

-

3

Chart 3. NUMBER OF EMPLOYEES IN INSURED COMMERCIAL BANKS
NEARLY DOUBLED BETWEEN 1936 AND 1952
Thousands of Employees

Thousands of Employees

500

500

400

400

300

300

200

200

100

1936

37

38

39

UNITED STATES DEPARTMENT OF LABOR
B U tlA U

or

LABOR STATISTICS




40

41

42

’
43

’
44

’
45

46

47

’
48

49

’
50

’
51

52

1953

Source: Annual Reports of the Federal
Deposit Insurance Corporation

-

32

-

bank clerical employees, will remain a relatively low proportion
of the population until late in the 1950rs. Furthermore, other
businesses will continue to compete with banks for young workers
as long as employment remains at high levels. The numbers of
applicants for full-time clerical positions have recently been so
limited that some banks are using part-time w orkers. In some
cases they have made arrangements with local high schools for
students to work a part of each day; in this way, they hope to
interest the students in staying on as full-time employees after
graduation. In other cases, convenient working arrangements
have been made for housewives who are able to be away from
home only a few hours a day. Some city banks have made a spe­
cial effort to attract older women employees.
Qualified college graduates will continue to be in demand for
executive trainee positions in the near future. The expansion of
the banking industry is creating a few opportunities for experienced
trainees to move up to positions as department heads and branch
m anagers, thus creating vacancies at the entry level. In addition,
some opportunities occur each year as a result of death and r e ­
tirement of bank officers. However, the openings for college
trained people are few, relative to total bank employment, and
employers are usually highly selective. The competition for p osi­
tions in the largest banks is particularly keen, and employers
have been able to maintain rigid hiring standards especially with
respect to the personal characteristics of the applicants.
In the long run, the major trends which have marked the in­
dustry in the past are expected to continue. Increases in popula­
tion, the mounting wealth and productive capacity of our Nation,
and the increasing complexity of business transacted will result
in a growing banking industry. The fields of consumer install­
ment loans, small business loans, real estate loans, and economy
checking account service will probably continue to expand. M ore
and mo^e banks are expected to solicit small trusts (under
$50, 000) as well as the usually large pension trusts of the type
set up by recent collective-bargaining agreements. The drive to
attract more customers by establishing additional branches is
expected to continue, but at a slower rate than in the years im ­
mediately following World War II. New branches will be opened
in the suburbs of large cities as long as population continues to
move into these areas. However, high replacement rates, usual
in occupations employing many women, will continue to provide
m ost of the job openings in banking.




-

33

-

F u tu r e e m p lo y m e n t o p p o r tu n itie s in ban k in g w ill a ls o b e a f ­
f e c t e d b y the p r o b a b le i n c r e a s e in m e c h a n iz a t io n o f ban k o p e r a ­
t io n s . M e c h a n iz a tio n o f the c h e c k h an dlin g p r o c e s s , now p a r ­
t ia lly a c h ie v e d , m a y on e d a y b e c o m p le t e . T h e p o s s i b i l i t y o f
u s in g ta b u la tin g m a c h in e s f o r c h e c k c le a r a n c e p r o c e s s e s is b e in g
e x p lo r e d , and e x p e r im e n t a t io n in th is d ir e c t io n is a lr e a d y u n d e r ­
w a y in a few b a n k s . N ew m a c h in e s w h ich c a n p e r f o r m m u c h o f
the w o r k n ow d on e b y t e l l e r s a r e in u s e in s o m e b a n k s and w ill
p r o b a b ly b e u s e d in c r e a s in g ly . A n y d e c lin e in the n e e d f o r w o r k ­
e r s ow in g to g r e a t e r u s e o f m a c h in e s w ill p r o b a b ly b e m o r e than
o f f s e t , h o w e v e r , b y the b r o a d f a c t o r s ten d in g to in c r e a s e b a n k ­
in g e m p lo y m e n t.
In the p a s t the m a in c a u s e o f u n e m p lo y m e n t in the in d u s tr y
h as b e e n the c lo s in g o f b a n k s b e c a u s e o f in s o lv e n c y . H o w e v e r ,
m a n y r e f o r m s — f o r e x a m p le , the p r o v i s i o n o f F e d e r a l D e p o s it
I n s u r a n c e , w h ic h in s u r e s in d iv id u a l ban k d e p o s it s up to $ 10, 000 —
h a v e b e e n a d o p te d to p r e v e n t a r e c u r r e n c e o f w h o le s a le ban k
c lo s in g s su ch a s t h o s e w h ic h o c c u r r e d in the e a r ly I9 3 0 *s. T h e
in s u r a n c e o f d e p o s it s m a in ta in s c o n fid e n c e in the ban kin g s y s ­
t e m ^ a b ilit y to p a y its d e p o s it o r s at a n y t im e a n d , t h e r e f o r e ,
ba n k s u s p e n s io n s h a v e b e c o m e r e la t iv e ly in fr e q u e n t . T h u s, it
s e e m s u n lik e ly that a n y la r g e a m o u n t o f u n e m p lo y m e n t w ill r e ­
s u lt f r o m ban k c lo s in g s in the fu tu r e .
E A R N IN G S AN D W O R K IN G CO N D ITIO N S
E a r n in g s
C l e r i c a l w o r k e r s in e n tr y p o s it io n s in b a n k s had a v e r a g e
w e e k ly e a r n in g s ra n g in g f r o m a b ou t $ 3 3 to $ 5 0 a w e e k in la r g e
c i t i e s in 1952, d ep en d in g on s u c h f a c t o r s a s the ty p e o f w o r k p e r ­
f o r m e d and the c it y in w h ich the ban k w a s lo c a t e d . 3 2 T e l l e r s ,
w h o h a v e a ll had s o m e e x p e r ie n c e in ban k e m p lo y m e n t , g e n e r a lly
r e c e i v e h ig h e r s a la r ie s than o th e r n o n s u p e r v is o r y e m p lo y e e s .
In 1951, p a y in g and r e c e iv in g t e l l e r s in b a n k s in 5 c i t i e s had
a v e r a g e w e e k ly e a r n in g s ra n g in g f r o m $ 4 4 to $ 6 5 . 50 (ta b le 2).
G e n e r a lly , w o m e n r e c e i v e lo w e r s a la r ie s than m e n in the
s a m e jo b c la s s i f i c a t i o n . The s a la r ie s sh ow n in ta b le 2, h o w e v e r ,
m a y e x a g g e r a t e the d if f e r e n c e s s in c e th e y do n ot tak e f a c t o r s
su ch as len g th o f e x p e r ie n c e in to a c c o u n t.

3 2 B a s e d on e a r n in g s o f f ile c l e r k s ( c la s s B ) ta b le 3, and on
in t e r v ie w s w ith e m p lo y e r s .




T a b le 2. --A v e r a g e w e e k ly e a r n in g s 1 f o r s e le c t e d ban k in g o c c u p a t io n s
in 5 c i t i e s , 1951

D a lla s

O c c u p a t io n

B r id g e p o r t

A tla n ta

N ew Y o r k

San
F r a n c is c o O akland

M en
T e l l e r s , p a y in g o r p a y in g and
rf»r*

vi n<y. r o m m f t r c i a l

$ 5 7 . 00

..............................

$ 5 7 . 00
$ 5 5 . 50

rT = 1 **-r s _ a ll - r n n n d .........................................
< ‘l
....
T

p I1p r r

T

p

7 4 . 00

. s a v i n f f s . ........................................................

II p t s . r i n t . p ...............................
..................................

P r o o t -r n a c b inc

o p e ra to rs

T r a n s it r 1p r ie s

54. 00

60. 50

..............................................
....

..............................

50
00
00
50
50
50

$ 6 0 . 00

$ 5 5 . 00
4 9. 00

$ 5 7 . 00

$65.
61.
66.
67.
50.
50.

_—
__

B o o k k e e p in g m a c h in e
n n p r a t n r fi.

..................... ..................................
.....
..
.

42. 50

_______________
.

W omen
T e l l e r s , p a y in g o r p a y in g and
rp rp iv in cy .

mTTvmp.rria.1

..............................

T e l l e r s , sa v in g s. .............................................. .
....
B o o k k e e p in g m a c h in e

$ 5 1 . 00
4 6. 50

53. 50
n n p r a t n r s . A ^ . ........................................................
B o o k k e e p in g m a c h in e
o p e r a t o r s , B 2 ............................................................. 40. 00
40. 00
P r n o f- m a r lii n p
n n fir a to r s . . . . . . .
T r a n s i t c l e r k s .........................................
...
46. 50
S te n o a r a n h e r s ............. • • • • • • • • •

$ 4 4 . 00
4 3 . 00

$ 4 5 . 50

——

4 9 . 50
37. 00
36. 00
48. 00

39.
40.
38.
47.

00
00
00
00

42.
45.
36.
49.

00
00
50
00

46. 00
__
——
- _

1 E x c lu d e s p r e m iu m p a y f o r o v e r t im e .
2 Tn g e n e r a l, c l a s s B jo b s a r e m o r e ro u tin e and the e m p lo y e e has l e s s r e s p o n s ib ilit y than in
c l a s s A jo b s .
S ou rce:

D a lla s - B L S B u lle tin N o. 1043, June 1951; B r id g e p o r t - B L S B u lle tin N o. 1044, June 1951
A tla n ta - B L S B u lle tin N o. 1031, M a r c h 1951; New Y o r k - B L S B u lle tin N o. 1037, A p r il
1951; San F r a n c is c o -O a k la n d - B L S B u lle tin N o. 1028, J a n u a ry 1951.




-

35

-

T h e g e o g r a p h ic r e g io n in w h ich a ba n k is lo c a t e d a f fe c t s the
e a r n in g s o f e m p lo y e e s to a c o n s id e r a b le ex ten t. In m o s t b a n k ­
in g o c c u p a t io n s , s a la r ie s a r e h ig h e s t in la r g e c i t i e s on the W e s t
C o a s t . In 1 9 5 1-52, w o m e n in o f f i c e o c c u p a t io n s in ban k in g and
r e la t e d in d u s t r ie s in the San F r a n c is c o -O a k la n d a r e a had a v e r ­
a g e e a r n in g s ra n g in g f r o m $ 4 0 a w e e k in r o u tin e f i l e c l e r k jo b s
to $60 a w e e k in the h ig h e s t typ e b o o k k e e p in g -m a c h in e o p e r a tin g
j o b s ; s e c r e t a r i e s in the s a m e a r e a a v e r a g e d $ 6 3 w e e k ly (ta b le 3).
In c o n t r a s t , e m p lo y e e s in s o m e c i t i e s , lo c a t e d m a in ly in the
South and M id d le A tla n tic S ta te s, r e c e iv e d w e e k ly s a la r ie s a v e r ­
a g in g f r o m $ 8 to $ 2 0 b e lo w t h o s e p a id in the c i t i e s w ith the h ig h ­
est ra tes.
S a la r ie s a r e r e la t e d a ls o to s iz e o f b a n k . In g e n e r a l, s a la ­
r i e s a r e lo w e s t in s m a ll b a n k s . In 1952, a v e r a g e s a la r ie s o f
e m p lo y e e s (e x c lu d in g o f f i c e r s ) w o r k in g in the s m a lle s t c o m m e r ­
c i a l b a n k s w e r e l e s s than h a lf a s m u c h a s t h o s e o f e m p lo y e e s in
the la r g e s t b a n k s .33 A m o n g ban k o f f i c e r s , d if f e r e n c e s in s a la r y
w e r e e v e n m o r e p r o n o u n c e d ; t h o s e in the la r g e s t ban k s had a v e r ­
a g e s a la r ie s m o r e than 4 t im e s th o s e o f o f f i c e r s in the s m a lle s t
b a n k s . T h e s e d if f e r e n c e s a r e u n d ou b ted ly d u e, in la r g e p a r t , to
the h e a v ie r r e s p o n s ib ilit ie s o f o f f i c e r s in la r g e o r g a n iz a t io n s and
the m o r e s p e c ia liz e d c h a r a c t e r o f th e ir w o r k . L iv in g e x p e n s e s ,
a s w e ll a s s a la r y r a t e s , a r e u s u a lly h ig h e s t in the b ig j c it ie s w h e r e
la r g e b a n k s a r e lo c a t e d . B ank o f f i c e r s in s m a ll tow n s o fte n h a v e
g r e a t e r o p p o rtu n ity to su p p le m e n t th e ir in c o m e s f r o m o th e r
s o u r c e s , s u c h a s in s u r a n c e o r r e a l e s ta te c o m m i s s i o n s .
C o lle g e g r a d u a te s , h ir e d a s e x e c u t iv e t r a in e e s in la r g e b a n k s ,
r e c e i v e d annual s a la r ie s ra n g in g f r o m $ 3 , 0 0 0 to $ 4 ,5 0 0 in 1953,
b u t the s a la r ie s m o s t fr e q u e n t ly p a id w e r e f r o m $ 3 , 4 0 0 to $ 3 , 600.
M ost s e n i o r s u p e r v i s o r s a n d d e p a r t m e n t m a n a g e r s r e c e i v e d s a l a ­
r i e s ra n g in g f r o m $ 4 , 500 to $ 7 , 500; and ju n io r o f f i c e r s f r o m
$ 5 , 000 to $ 9 , 500 in s o m e o f the l a r g e r b a n k s . V e r y la r g e ban k s
o fte n h a v e a g r o u p o f s e c o n d v i c e p r e s id e n t s w h o s e s a la r ie s r a n g e
f r o m $ 8 , 0 0 0 to $ 1 5 , 0 0 0 o r m o r e ; o th e r y i c e p r e s id e n t s u s u a lly
r e c e i v e f r o m $ 1 5 , 000 to $ 3 0 000 a n n u a lly , alth ou g h s o m e s e n io r
v i c e p r e s id e n t s r e c e i v e $ 5 0 , 0 0 0 o r m o r e . 34

3
3 F e d e r a l D e p o s it In s u r a n ce C o r p o r a t io n A n n u al R e p o r t f o r
the Y e a r E n d ed D e c e m b e r 31, 1952, (p . 4 5 ).
3 4 S a la r y data o b ta in e d th rou g h p e r s o n a l in t e r v ie w s w ith p e r ­
s o n n e l d i r e c t o r s o f la r g e b a n k s.




T a b le 3. —A v e r a g e w e e k l y e a r n i n g s f o r w o m e n in s e l e c t e d o f f i c e o c c u p a t i o n s
in f in a n c e , 1 S e p t e m b e r 1 9 5 1 -M a y 195 2

B o o k k e e p in g - m a c h in e
op era tors

C a lc u la -

C la s s B

m a c h in e
op era tors

C le r k s

C ity
C la s s A

N e w E n g la n d :
B o s t o n ..........................................................
H a rtfo rd
...................................................
P r o v i d e n c e ...............................................
W o r c e s t e r ...............................................
M id d le A t la n t ic :
A lb a n y -S c h e n e c ta d y -T r o y . . . .
A lle n to w n -B e th le h e m -E a s to n . .
B u f f a l o ............................. ............................
N e w a r k - J e r s e y C i t y ..........................
N e w Y o r k ...................................................
P h i l a d e l p h i a ............................................
P i t t s b u r g h ...................................................
R o c h e s t e r ...................................................
S c r a n t o n ......................................................
T r e n t o n ......................................................
S ou th :
A t l a n t a ..........................................................
B i r m i n g h a m ............................................
H o u s t o n .......................................................
J a c k s o n v i l l e ............................................
M e m p h i s ...................................................
N e w O r l e a n s ............................................
N o r f o l k - P o r t s m o u t h ..........................
O k la h o m a C i t y ........................................
R i c h m o n d ...................................................
M id d le W e s t :
C h i c a g o ......................................................
C i n c i n n a t i ...................................................
C l e v e l a n d ...................................................
C o l u m b u s ...................................................
D e t r o i t ..........................................................
I n d i a n a p o l i s ............................................
K a n s a s C i t y ............................................
L o u i s v i l l e ...................................................
M i l w a u k e e ...............................................
M i n n e a p o l i s - S t . P a u l ......................
S t. L o u i s ...................................................
F a r W est:
D e n v e r ..........................................................
L o s A n g e l e s ............................................
P h o e n i x ......................................................
S a lt L a k e C i t y ........................................
S a n F r a n c i s c o - O a k l a n d ..................
S e a t t l e ..........................................................

1I n c l u d e s

A ccou n t­
in g

F ile
[C l^ s s A )

$ 4 6 . 00
5 5 . 50
--

$ 4 0 . 50
3 8 .0 0
3 7 . 50

$ 4 3 . 00
4 8 . 50
3 4 . 50

$ 4 3 . 00
4 5 . 00

$ 4 0 . 50

__

--

--

--

3 9 . 50

4 4 . 00
--

53. 50
-4 1 . 50
-5 6 . 00
4 3 . 50
4 3 . 50

4 3 . 00
--4 5 . 50
5 0 . 50
3 8 . 50
4 5 . 00
--

--

3 9 .0 0
3 7 . 00
3 8 . 00
4 1 . 50
4 6 . 00
3 8 . 00
3 9 . 00
4 1 . 00
--

--

--

--

4 2 . 50
3 8 . 50
4 3 . 50
4 3 .0 0
3 9 . 00
3 9 . 00
4 0 .0 0
4 1 . 50
3 7 . 00

4 1 . 50

4 7 . 50

4 7 . 50
3 9 . 50
4 6 . 50

4 7 . 50
3 9 .0 0
4 2 . 50
3 9 .0 0
4 5 .0 0
3 9 .5 0
4 1 . 50
3 6 . 50
4 0 . 50
3 8 . 50
4 1 .0 0

4 1 .0 0
4 5 .0 0

4 2 . 50

5 3 . 50

--

!
4 9 . 50
--

--

--

60.
44.
44.
48.
50.
49.
49.

00
50
00
00
50
00
50

3 7 . 00
4 9 .0 0
4 4 . 00

K eyp u n ch
o p era tors

4 9 . 00

3 9 . 50
3 7 . 00
--

4 8 . 50
4 3 . 00

4 4 . 50
4 4 .0 0
4 1 .0 0

--

5 1 . 50
.4 8 . 00

40.
36.
42.
43.
47.
42.
40.

00
00
50
50

$ 4 0 . 50
4 1 . 50

3 5 . 50
3 2 . 00
3 3 . 00
3 6 . 50
4 0 . 00
3 4 .0 0
3 3 . 50
3 4 . 50

4 0 . 50

--

--

--

50
00
50
50

4 3 . 00
4 1 . 00
4 5 . 00

--

--

--

4 5 . 00
6 0 .0 0
4 7 . 50

F ile
(C la s s B)

4 1 . 50
3 3 . 50

3 5 .0 0
3 4 . 50
3 8 . 00
3 3 .0 0
3 3 .0 0
3 3 . 50

00
00
50
00
50
00
00

--

-43.
41.
51.
43.
35.

00
50
00
50
00

--

3 4 . 50
4 4 . 00

43.
46.
45.
40.
38.
35.
41.
42.

00
50
00
00

4 9 . 50
4 1 . 50
4 7 .0 0
4 7 .0 0
4 7 . 50
4 4 . 50
4 6 . 50
4 0 . 50
4 6 . 50
4 2 . 00
4 3 .0 0

4 4 . 00
4 7 . 00
4 9 . 50
3 7 .0 0
4 9 . 50
5 1 . 50

$35.
36.
33.
36.

4 0 . 50

4 6 . 00
4 6 . 50
3 9 . 50
3 9 . 00

42.
41.
42.
35.

50
00
00
50

3 5 . 00
__

3 6 . 50
4 3 . 50

3 3 . 00
3 3 .0 0

50.
41.
46.
41.
47.
41.
43.
45.
46.
42.
40.

39.
34.
38.
37.
38.
36.
34.
34.
35.
35.
34.

50
00
50
00
00
50
50
50
00
00
50

35.
37.
37.
34.
40.
37.

50
00
50
00
00
00

00
50
50
50
00
50
00
50
50
00
50

4 6 . 50
—

3 9 .0 0
5 1 .0 0
4 4 . 50

3 8 . 00

48.
40.
44.
43.
50.
43.
39.

00
00
50
00
50
50
50

4 0 . 50
3 9 . 50
4 2 .0 0

4 8 .5 0
3 7 . 50
5 0 . 50 ,
4 7 .0 0 ;

b a n k s an d o t h e r f in a n c ia l in s t it u t io n s , a n d in s u r a n c e an d r e a l e s t a t e .

2 In g e n e r a l , c l a s s B j o b s a r e m o r e r o u t in e a n d th e e m p l o y e e h a s l e s s r e s p o n s i b i l i t y t h a n in c l a s s A j o b s .

Digitized forSFRASERu r e a u o f L a b o r
ou rce: B


S t a t is t ic s B u lle t in N o .

1 1 1 3 , W a g e s a n d R e l a t e d B e n e f i t s , 4 0 L a b o r M a r k e t s , . 1 9 5 1 -1 9 5 2 .

S ecre­
ta r ie s

$53.
61.
54.
51.

G en eral
sten og ­
raph ers

00
50
00
50

$ 4 3 .0 0
4 6 . 50
4 1 .0 0
4 4 . 00

5 4 . 00
4 6 . 50
5 5 .0 0
5 6 . 00

5 2 . 00
5 8 .0 0
5 4 . 00
4 7 . 00
4 9 . 50

4 4 . 50
3 6 .0 0
4 1 . 50
4 6 . 00
5 1 .0 0
4 2 . 00
4 6 . 50
4 4 . 00
3 8 . 50
4 2 . 50

5 7 . 50
5 0 . 50
5 6 . 50
5 2 . 50
5 0 .0 0
4 5 .0 0
5 4 . 50
5 3 . 50
5 2 . 00

4 6 . 50
4 2 . 50
4 9 . 50
4 5 . 00
4 2 . 50
4 8 .0 0
4 7 . 00
4 3 . 50
4 3 . 00

6 2 . 50
5 7 . 00
5 7 . 50
5 3 . 00
6 2 . 00
5 5 . 50
5 4 . 00
5 3 . 50
. 00
5 4 . 50
5 4 .0 0

52.
48.
47.
45.
49.
47.
46.
45.
44.
45.
45.

4 9 . 50
6 0 .0 0
5 5 . 50
5 0 . 50
6 3 .0 0
6 0 .0 0

4 3 .0 0
5 0 . 50
4 6 . 50
4 3 . 00
5 6 . 00
5 1 . 50

66.00

66

00
00
00
50
00
00
50
00
50
00
00

T a b u la ungm a c h in e
o p era tors

$ 4 5 . 00
4 7 . 50

T y p is t s
(C la s s A )

$ 4 2 . 00
4 2 . 00

--

--

(C la s s B)

$37.
42.
36.
36.

00
00
00
50

-4 9 . 00
5 3 . 00
4 1 .5 0
4 4 . 50

--

4 3 . 50
5 2 . 50
4 5 . 00
-__

4 1 . 00

43.
41.
50.
49.
44.
55.
41.

00
00
00
50
00
00
50

5 2 . 00
4 2 .5 0
4 7 .0 0

5 4 .0 0
3 9 . 50
5 6 . 50

3 8 . 50

00
00
50
50
00

3 5 . 50
3 9 . 50
4 2 . 00
3 6 . 50
3 6 . 00
3 9 .0 0

4 1 . 00

--

43.
45.
47.
42.
43.

43.
39.
48.
40.
40.
34.

00
00
50
50
00
50

4 3 . 00
4 1 . 50

3 6 . 50
3 5 . 50
3 8 . 50
36*. 00
3 5 .0 0
3 3 . 50
4 0 . 50
3 8 . 50
3 6 . 00

5 1 . 00
4 4 . 00
4 7 . 50
4 3 . 50
4 6 .0 0
4 7 . 00
4 1 . 00
4 4 .0 0
4 7 .0 0
4 0 .0 0
4 2 .0 0

43.
37.
40.
38.
40.
39.
35.
37.
37.
37.
38.

3 9 . 50
4 7 .0 0
4 3 . 00
39. 00
5 1 . 50
4 6 .0 0

3 6 . 50
4 2 . 50
3 9 .0 0
3 5 . 50
4 4 . 50
3 8 . 00

50
50
00
50
50
50
50
50
00
50
50

-

37

-

H o u r s and W o rk in g C o n d itio n s
T h e u s u a l s c h e d u le d w o r k w e e k in the ba n k in g in d u s t r y i s 40
h o u r s . H o w e v e r , b a n k s in m a n y c i t i e s , in clu d in g N ew Y o r k C it y ,
and N e w a rk and J e r s e y C it y , N. J. , h a v e w e e k ly s c h e d u le d h o u r s
o f 37 l / 2 o r l e s s f o r a lm o s t a ll w o r k e r s . 3 5 In s o m e c i t i e s — f o r
e x a m p le , B r id g e p o r t , C on n , — the s ch e d u le d w o r k w e e k in b a n k s
is 40 h o u r s , but m a n y e m p lo y e e s w o r k o n ly 36 h o u r s . 3 6 D a ily
h o u r s m a y b e ir r e g u l a r , e s p e c i a l l y in s m a ll b a n k s . On s om e
d a y s t h e r e m a y b e o v e r t im e w o r k , w h e r e a s on o t h e r s the h o u r s
o f w o r k m a y v a r y b e tw e e n 6 and 8.
B a n k s a r e n oted f o r th e ir l ib e r a l p r o v is io n s f o r h o lid a y s .
E m p lo y e e s in m o s t b a n k s r e c e i v e f r o m 9 to 12 h o lid a y s a y e a r
w ith p a y . In c o n t r a s t , m a n u fa c tu r in g in d u s t r ie s 37 u s u a lly p r o ­
v id e o n ly 6 o r 7 p a id h o lid a y s a n n u a lly.
T w o -w e e k v a c a tio n s a ft e r 1 y e a r 's s e r v i c e a r e g iv e n b y m o s t
b a n k s . S o m e b a n k s a llo w 3 w e e k s a ft e r 10 y e a r s ' s e r v i c e , and
s o m e 1 w e e k a ft e r 6 m o n t h s ' s e r v i c e .
L if e in s u r a n c e and h o s p it a liz a t io n in s u r a n c e a r e b e n e fit s
u s u a lly g r a n te d to ban kin g e m p lo y e e s . R e t ir e m e n t p la n s a r e
c o m m o n in b a n k in g . M o s t o f the p la n s a r e c o n t r ib u t o r y , the
e m p lo y e r sh a rin g the c o s t w ith the e m p lo y e e .
W o r k in b a n k s is g e n e r a lly c a r r i e d on in c le a n , w e ll- lig h t e d
and w e ll-v e n t ila t e d o f f i c e s p a c e . M o s t ban k in g jo b s r e q u ir e lit t le
p h y s ic a l e f fo r t .

3 5 B u re a u o f L a b o r S t a t is t ic s B u lle tin N o. 1037, O cc u p a tio n a l
W a g e S u r v e y , N ew Y o r k , N . Y . , A p r il 1951 (p. 27 ). C o m m u n ity
W a g e S u r v e y , F o r m 5, W a g e and R e la te d P r a c t i c e s , N e w a r k J e r s e y C it y , N. J. , Ju ly 1952.
3 6 B u re a u o r L a b o r S t a t is t ic s B u lle tin N o. 1031, O c c u p a tio n a l
W a g e S u r v e y , A tla n ta , G a. , M a r c h 1951 (p. 14); B u lle tin N o. 1028,
O cc u p a tio n a l W age S u r v e y , San F r a n c is c o -O a k la n d , C a lif. , Jan u­
a r y 1951, (p. 23); B u lle tin N o. 1043, O c c u p a tio n a l W a g e S u r v e y ,
D a lla s , T e x a s , June 1951 (p. 15); C o m m u n ity W a g e S u r v e y F o r m 5,
W a g e and R e la te d P r a c t i c e s , B r id g e p o r t , C on n. , June 1951.
3 7 B u r e a u o f L a b o r S t a t is t ic s B u lle tin N o. 1113, W a g e s and
R e la te d B e n e fit s , 40 L a b o r M a r k e t s , 1951-52.




-

38

-

W H E R E T O G E T A D D IT IO N A L IN F O R M A T IO N




Y ou r lo c a l bank
Y o u r State b a n k e r s a s s o c ia t io n
A m e r ic a n B a n k e r s A s s o c ia t io n
12 E a s t 36th S tr e e t
N ew Y o r k 16, N . Y .
A m e r ic a n In stitu te o f B an kin g
12 E a s t 36th S tr e e t
N ew Y o r k 16, N . Y .
(A s e c t io n o f the A m e r ic a n B a n k e r s
A s s o c i a t i o n w h ich w ill p r o v id e i n f o r ­
m a tio n on i n - s e r v i c e e d u c a tio n a l
o p p o r t u n itie s f o r b a n k e m p lo y e e s )
T h e N a tion a l A s s o c i a t i o n o f B a n k
A u d it o r s and C o m p t r o lle r s
38 South D e a r b o r n S tr e e t
C h ic a g o 3, 111.

-

39

-

A P P E N D IX

O C C U P A T IO N A L O U T L O O K P U B L IC A T IO N S O F TH E
B U R E A U O F L A B O R S T A T IS T IC S *

S tu d ies o f e m p lo y m e n t tr e n d s and o p p o r t u n itie s in the v a r i ­
o u s o c c u p a t io n s and p r o f e s s i o n s a r e m a d e a v a ila b le b y the O c c u ­
p a tio n a l O u tlo o k S e r v ic e o f the B u re a u o f L a b o r S t a t is t ic s .
T h e s e r e p o r t s a r e f o r u s e in the v o c a t io n a l g u id a n c e o f v e t ­
e r a n s , in c o u n s e lin g you n g p e o p le in s c h o o l s , and in gu id in g
o t h e r s c o n s id e r in g the c h o ic e o f an o c c u p a t io n . S c h o o ls c o n ­
c e r n e d w ith v o c a t io n a l tr a in in g and e m p lo y e r s and tr a d e u n ion s
in t e r e s t e d in o n -th e -jo b tr a in in g h av e a ls o fou n d the r e p o r t s h e lp ­
fu l in p la n n in g p r o g r a m s in lin e w ith p r o s p e c t iv e e m p lo y m e n t
o p p o r tu n itie s .
O c c u p a tio n a l O u tlook H a n d b ook
E m p lo y m e n t In fo r m a tio n on M a jo r O c c u p a tio n s f o r U se in G u id ­
a n c e . B u lle tin N o. 998 (1951 R e v . E d . ) . U lu s. $ 3 .
In c lu d e s b r i e f r e p o r t s on m o r e than 400 o c c u p a t io n s o f in ­
t e r e s t in v o c a t io n a l g u id a n c e , in c lu d in g p r o f e s s i o n s ; s k ille d
t r a d e s ; c l e r i c a l , s a le s , and s e r v i c e o c c u p a t io n s ; and the m a jo r
ty p e s o f fa r m in g . E a ch r e p o r t d e s c r i b e s the e m p lo y m e n t tr e n d s
and o u tlo o k , the tr a in in g q u a lific a t io n s r e q u ir e d , e a r n in g s , and
w o r k in g c o n d it io n s . In tr o d u c t o r y s e c t io n s s u m m a r iz e the m a jo r
t r e n d s in p o p u la tio n and e m p lo y m e n t and in the b r o a d in d u s t r ia l
and o c c u p a t io n a l g r o u p s , a s b a c k g r o u n d f o r an u n d e rs ta n d in g o f
the in d iv id u a l o c c u p a t io n s .
T h e H a n d b ook is d e s ig n e d f o r u s e in c o u n s e lin g , in c l a s s e s
o r u n its on o c c u p a t io n s , in the tr a in in g o f c o u n s e l o r s , and a s a
g e n e r a l r e f e r e n c e . Its 575 p a g e s a r e illu s t r a t e d w ith 103 p h o t o ­
g r a p h s and 85 c h a r t s .
O c c u p a tio n a l O u tlook B u lle tin s
B u lle tin N o.
929
944
961




E m p lo y m e n t O u tlook in t h e -P l a s t i c s P r o d u c t s In d u stry .
(1948) I llu s ................................................
E l e c t r i c L ig h t and P o w e r
O c c u p a tio n s . (1948) I llu s .................
R a ilr o a d O cc u p a tio n s
(1949 ) I llu s ................................................

P r ic e
20 c e n ts
30 c e n ts
30 c e n ts

-40

B u lle tin N o.
994
1010
1020
1048
1054
1072
1126

1128

1130

1138

968
972
1050
1129

1131

1144

-

E m p lo y m e n t O u tlook in the —
P e t r o le u m P r o d u c t io n and
R e fin in g . (1 9 5 0 ). I llu s ....................
M e n 's T a ilo r e d C loth in g
In d u str y . (1951) I llu s ......................
D e p a r tm e n t S t o r e s . (1951)
n i u s ...........................................................
A c c o u n tin g (1952 ) I llu s . . . . . . .
M e r c h a n t M a r in e . (1952) I llu s . . .
E l e c t r o n i c s M a n u fa ctu rin g .
(1952) I llu s ............................................
P r in t in g O c c u p a t io n s . R e p r in te d
f r o m the 1951 O cc u p a tio n a l O ut­
lo o k H a n d b ook . (1953) I llu s . . . .
A ir T r a n s p o r t a t io n . R e p r in te d
f r o m the 1951 O c c u p a tio n a l O ut­
lo o k H a n d b ook . (1953) I llu s . . . .
M e ta lw o r k in g O c c u p a tio n s , R e ­
p r in te d f r o m the 1951 O c c u p a ­
tio n a l O u tlook H a n d b ook (1953)
I llu s ...........................................................
A u t o m o b ile In d u s tr y . (1953)
n i u s ...........................................................
E m p lo y m e n t O u tlo o k f o r —
E n g in e e r s . (1949 ) I l l u s .....................
E le m e n t a r y and S e c o n d a r y
S c h o o l T e a c h e r s . (1949 ) Illu s . . .
E a rth S c ie n t is t s . (1952) Illu s . . .
M e c h a n ic s and R e p a ir m e n . R e ­
p r in te d f r o m the 1951 O c c u p a ­
tio n a l O u tlook H an d book . ( 1953)
I llu s ...........................................................
T e c h n ic ia n s . A R e p o r t on D r a f t s ­
m e n , E n g in e e r in g A id s , L a b o r a ­
t o r y t e c h n ic ia n s , and E le c t r o n ic
T e c h n ic ia n s . ( 1953) I llu s ................
P h y s ic is t s ( 1953) I llu s .......................

P r ic e
30 c e n ts
25 c e n ts
20 c e n ts
20 c e n ts
30 c e n t s
25 c e n t s

25 c e n t s

20 c e n t s

30 c e n ts
25 c e n t s
55

cen ts

40 c e n ts
30 c e n t s

20 c e n ts

25 c e n t s
25 c e n ts

O cc u p a tio n a l O u t lo o k S u p p lem en ts
Supp. to 968

Supp. to 972




E f f e c t o f D e fe n s e P r o g r a m on E m p lo y ­
m e n t O u tlo o k in E n g in e e r in g .
( 1 9 5 1 ) ....................................................
15 c e n ts
E f f e c t o f D e fe n s e P r o g r a m on E m p lo y
m e n t O u tlo o k f o r E le m e n t a r y and
S e c o n d a r y S c h o o l T e a c h e r s , (1951)
15 c e n t s

-41 -

S p e c ia l R e p o rts

B u lle tin N o.
881

100 1
1027

1092

P ric e
F a c t o r s A ffe c tin g

E a rn in g s

in

C h e m is tr y and C h e m ic a l E n g i­
n e e r i n g ( 1 9 4 6 ) .......................................................
T a b le s o f W o rk in g L ife . L e n g th of

10 c e n t s

W o rk in g L ife fo r M en . (19 5 0 ). . . .
E m p lo y m e n t, E d u c a tio n , an d E a r n ­
in g s o f A m e r ic a n M e n of S c ie n c e
( 1 9 5 1 ) ................................................................................

45 cen ts

E m p lo y m e n t and E c o n o m ic S ta tu s
o f O ld e r M e n an d W o m e n (19 52 )

30 c e n t s

. .

E m p lo y m e n t O p p o rtu n itie s fo r
S tu d e n t P e r s o n n e l W o r k e r s in
C o lle g e s and U n iv e r s itie s . (19 51)
E le m e n ta ry and S e co n d a ry Sch ool

40 c e n ts

.

F ree

P r in c ip a l s h ip s — C h ie f A d v a n c e ­
m e n t O p p o rtu n ity fo r P u b lic
S c h o o l T e a c h e r s . ( 1 9 5 1 ) .............................

F ree

E m p lo y m e n t O p p o rtu n itie s fo r
C o u n s e lo r s in S e c o n d a r y an d
E le m e n t a r y S c h o o ls .
1117

1119

( 1 9 5 1 ) .................

F e d e r a l W h ite -C o lla r W o r k e r s —
T h e ir O ccu p a tio n s and S a la r ie s ,
J u n e 1 9 5 1 . ( 1 9 5 2 ) ...............................................
N e g r o e s in th e U n ite d S ta te s : T h e ir
E m p lo y m e n t and E c o n o m ic S ta tu s.
( 1 9 5 2 ) 6 0 p p ...........................................................

F ree

15 c e n ts

30 c e n t s

1120

T h e M o b ility o f T o o l and D ie
M a k e r s 1 9 4 0 - 1 9 5 1 . (19 5 2 ) 67 p p . . .

35 c e n ts

1121

O ccu p a tio n a l M o b ility o f S c ie n tis ts .
A S tu d y o f C h e m is t s , B io lo g is t s ,
an d P h y s ic is t s w ith P h . D . D e ­
g r e e s . ( 1 9 5 3 ) .............................................. ....

35 c e n ts

1132

M a n p o w e r R e s o u r c e s in C h e m is t r y
a n d C h e m ic a l E n g in e e r in g . (19 53 ) .
E m p lo y m e n t, E d u c a tio n , a n d In ­
c o m e of E n g in e e rs , 1949-1950 .
( 1 9 5 2 ) 4 8 p p ...........................................................

1148




S c ie n tific R e s e a r c h

50 c e n t s

F ree

and D e v e lo p ­

m e n t in A m e r ic a n I n d u s tr y

—A

S tu d y o f M a n p o w e r an d C o s t s .
(19 53 )

1 0 6 p p ...........................................................

50 c e n t s

-42 -

O c c u p a tio n a l O u tlo o k M a ilin g

L is t

S c h o o ls , v o c a tio n a l g u id a n c e a g e n c ie s , an d o th e r s w h o w is h
to r e c e i v e b r i e f s u m m a r ie s o f e a c h n e w O c c u p a tio n a l O u tlo o k r e ­
p o rt, u s u a lly a c c o m p a n ie d b y a w a ll c h a rt, m a y b e p la c e d on a
m a ilin g l i s t k e p t fo r th is p u r p o s e .
R e q u e s t s s h o u ld b e a d d r e s s e d
to th e B u r e a u o f L a b o r S t a t is t ic s , U . S. D e p a r tm e n t o f L a b o r ,
W a s h in g t o n 2 5 , D . C . , s p e c i f y i n g th e O c c u p a t io n a l O u tlo o k M a il.in g

L is t.

P le a s e

g iv e y o u r p o s ta l zo n e n u m b e r.

♦ U n le ss o t h e r w i s e d e s ig n a t e d , f o r s a le b y th e S u p e r in te n d e n t
o f D o c u m e n ts a t p r ic e s in d ic a te d .
H o w to o r d e r p u b lic a t io n s :
A d d r e s s y o u r o r d e r to th e S u p e r in te n d e n t o f D o c u m e n t s , G o v e r n ­
m e n t P r in t in g O ffic e , W a s h in g to n 2 5 , D . C . , w ith r e m it t a n c e in
check or m oney ord er.
C u r r e n c y is se n t a t s e n d e r 's r is k .
P o st­
age

sta m p s a r e

not a c c e p ta b le .

T h o s e r e p o r t s w h ic h a r e lis t e d a s f r e e m a y b e o b ta in e d d ir e c t ­
ly fr o m th e U . S. D e p a r tm e n t o f L a b o r , B u r e a u o f L a b o r S ta tis tic s ,
W a sh in g to n 25,




D.

C . , a s lo n g a s th e

su p p ly la s t s .

☆

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