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The differences between bank consultants and escrow officers can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both a bank consultant and an escrow officer. Additionally, a bank consultant has an average salary of $90,094, which is higher than the $50,270 average annual salary of an escrow officer.
The top three skills for a bank consultant include customer service, powerpoint and risk management. The most important skills for an escrow officer are customer service, HOA, and title insurance.
| Bank Consultant | Escrow Officer | |
| Yearly salary | $90,094 | $50,270 |
| Hourly rate | $43.31 | $24.17 |
| Growth rate | 4% | 4% |
| Number of jobs | 17,023 | 62,077 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 69% | Bachelor's Degree, 47% |
| Average age | 45 | 45 |
| Years of experience | 6 | 6 |
A bank consultant focuses on identifying and meeting the clients' needs through effective banking advice and guidance. Their daily tasks entail greeting and offering assistance to clients, answering inquiries, discussing terms, recommending options and other services, making arrangements, and processing the clients' applications. They also perform clerical tasks such as handling calls and inquiries, preparing documents, reviewing reports, producing financial statements, and maintaining records. Moreover, a bank consultant maintains an open communication line with co-workers, coordinating to provide clients with optimal services.
Escrow officers, commonly known as loan officers, are responsible for real estate processing and finalizing deals. They ensure all documents are authentic and prepared, property titles are clear, and financial obligations have been thoroughly met by the buyer and seller. They verify the document of land ownership, checking property title, and consulting with potential buyers, sellers, and lending firms. It is also their responsibility to handle the deposition of funds and processing of legal documents, including paperwork to finalize the transaction.
Bank consultants and escrow officers have different pay scales, as shown below.
| Bank Consultant | Escrow Officer | |
| Average salary | $90,094 | $50,270 |
| Salary range | Between $68,000 And $118,000 | Between $36,000 And $70,000 |
| Highest paying City | Marysville, WA | Walnut Creek, CA |
| Highest paying state | Washington | New Mexico |
| Best paying company | Inter-American Development Bank | Fidelity National Financial |
| Best paying industry | Technology | Finance |
There are a few differences between a bank consultant and an escrow officer in terms of educational background:
| Bank Consultant | Escrow Officer | |
| Most common degree | Bachelor's Degree, 69% | Bachelor's Degree, 47% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between bank consultants' and escrow officers' demographics:
| Bank Consultant | Escrow Officer | |
| Average age | 45 | 45 |
| Gender ratio | Male, 59.0% Female, 41.0% | Male, 14.9% Female, 85.1% |
| Race ratio | Black or African American, 9.2% Unknown, 4.6% Hispanic or Latino, 16.0% Asian, 6.4% White, 63.2% American Indian and Alaska Native, 0.5% | Black or African American, 8.8% Unknown, 4.6% Hispanic or Latino, 16.0% Asian, 6.2% White, 64.0% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 8% | 8% |