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The differences between associate partners and bankruptcy specialists can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both an associate partner and a bankruptcy specialist. Additionally, an associate partner has an average salary of $145,385, which is higher than the $35,498 average annual salary of a bankruptcy specialist.
The top three skills for an associate partner include digital transformation, analytics and cloud. The most important skills for a bankruptcy specialist are relief, pacer, and foreclosure.
| Associate Partner | Bankruptcy Specialist | |
| Yearly salary | $145,385 | $35,498 |
| Hourly rate | $69.90 | $17.07 |
| Growth rate | 10% | 10% |
| Number of jobs | 32,405 | 4,381 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 63% | Bachelor's Degree, 50% |
| Average age | 46 | 46 |
| Years of experience | 4 | 4 |
The job of an associate partner is similar to that of a partner. An associate partner will report to the partner and work to build strong client relationships and understand their concerns. You will typically perform various duties that include handling the partner's daily activities, monitoring the accounting procedures, and maintaining the confidentiality of the client's information. As an associate partner, you also have to advise on corporate governance and business reorganization and conducting assessments of in-house platforms that include evaluating portfolio accounting systems and client delivery.
The bankruptcy specialist is responsible for filing and documentation loan bankruptcy materials with the appropriate attorneys. They ensure full compliance with loan bankruptcy regulations and monitor accounts throughout the loan bankruptcy process to contact the appropriate party when necessary. A bankruptcy specialist might be an administrator or lawyer in a bankruptcy office and supports bankruptcy law. They are likely to evaluate state declaration and affidavits for legal progression, interact with customers and outside counsel about bankruptcy proceedings through written and verbal communication, and work with local counsel and upper management in effectively reviewing client's files.
Associate partners and bankruptcy specialists have different pay scales, as shown below.
| Associate Partner | Bankruptcy Specialist | |
| Average salary | $145,385 | $35,498 |
| Salary range | Between $84,000 And $250,000 | Between $27,000 And $46,000 |
| Highest paying City | Cambridge, MA | Norfolk, VA |
| Highest paying state | Massachusetts | California |
| Best paying company | McKinsey & Company Inc | The PNC Financial Services Group |
| Best paying industry | Professional | Finance |
There are a few differences between an associate partner and a bankruptcy specialist in terms of educational background:
| Associate Partner | Bankruptcy Specialist | |
| Most common degree | Bachelor's Degree, 63% | Bachelor's Degree, 50% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | Stanford University |
Here are the differences between associate partners' and bankruptcy specialists' demographics:
| Associate Partner | Bankruptcy Specialist | |
| Average age | 46 | 46 |
| Gender ratio | Male, 66.4% Female, 33.6% | Male, 31.0% Female, 69.0% |
| Race ratio | Black or African American, 5.6% Unknown, 4.4% Hispanic or Latino, 7.8% Asian, 6.4% White, 75.6% American Indian and Alaska Native, 0.3% | Black or African American, 5.7% Unknown, 4.4% Hispanic or Latino, 7.9% Asian, 6.5% White, 75.2% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 10% | 10% |