Explore jobs
Find specific jobs
Explore careers
Explore professions
Best companies
Explore companies
The differences between bank consultants and loan consultants 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 a loan consultant. Additionally, a bank consultant has an average salary of $90,094, which is higher than the $38,876 average annual salary of a loan consultant.
The top three skills for a bank consultant include customer service, powerpoint and risk management. The most important skills for a loan consultant are loan applications, origination, and customer service.
| Bank Consultant | Loan Consultant | |
| Yearly salary | $90,094 | $38,876 |
| Hourly rate | $43.31 | $18.69 |
| Growth rate | 4% | 4% |
| Number of jobs | 17,023 | 23,448 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 69% | Bachelor's Degree, 62% |
| 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.
A Loan Consultant specializes in assessing loan applications to ensure potential clients uphold their financial obligations. Their responsibilities include conducting interviews with applicants, reviewing and verifying documentation, and evaluating financial credit and other records. They may also answer inquiries, advise potential clients on which program suits them the best, and help them understand every procedure. Moreover, there are also instances when they must handle delinquent accounts, reach out to clients, and negotiate payment terms when necessary.
Bank consultants and loan consultants have different pay scales, as shown below.
| Bank Consultant | Loan Consultant | |
| Average salary | $90,094 | $38,876 |
| Salary range | Between $68,000 And $118,000 | Between $27,000 And $54,000 |
| Highest paying City | Marysville, WA | Sioux Falls, SD |
| Highest paying state | Washington | South Dakota |
| Best paying company | Inter-American Development Bank | Accion |
| Best paying industry | Technology | Finance |
There are a few differences between a bank consultant and a loan consultant in terms of educational background:
| Bank Consultant | Loan Consultant | |
| Most common degree | Bachelor's Degree, 69% | Bachelor's Degree, 62% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between bank consultants' and loan consultants' demographics:
| Bank Consultant | Loan Consultant | |
| Average age | 45 | 45 |
| Gender ratio | Male, 59.0% Female, 41.0% | Male, 57.2% Female, 42.8% |
| 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, 9.2% Unknown, 4.6% Hispanic or Latino, 16.0% Asian, 6.4% White, 63.3% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 8% | 8% |