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Bank Branch Managers

Outlook

Employment for branch managers should only be fair in coming years as a result of continuing reductions in the number of bank branches. According to the Federal Deposit Insurance Corporation, the number of branches has declined by 6 percent since its peak in 2009. JPMorgan Chase cut 265 branch locations from 2013 to 2016, or 5 percent of its network, according to Reuters. CNNMoney reports that Bank of America reduced its bank branch total by 23 percent from 2009 to 2015. The increasing popularity of online banking (Bank of America reports a 94 percent increase in automated transactions from 2009 to 2016) and the high cost of opening and operating a bank branch (the Mercator Advisory Group reports that it costs $2–$4 million to set up and $200,000–$400,000 annually to operate a bank branch) have fueled this decline.

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