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The differences between bank consultants and loan originators 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 originator. Additionally, a bank consultant has an average salary of $90,094, which is higher than the $41,291 average annual salary of a loan originator.
The top three skills for a bank consultant include customer service, powerpoint and risk management. The most important skills for a loan originator are customer service, origination, and FHA.
| Bank Consultant | Loan Originator | |
| Yearly salary | $90,094 | $41,291 |
| Hourly rate | $43.31 | $19.85 |
| Growth rate | 4% | 4% |
| Number of jobs | 17,023 | 10,716 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 69% | Bachelor's Degree, 61% |
| 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 Originator is a potential liaison between borrowers and lenders. They help borrowers complete loan applications and evaluate which loans are most appropriate for the customers.
Bank consultants and loan originators have different pay scales, as shown below.
| Bank Consultant | Loan Originator | |
| Average salary | $90,094 | $41,291 |
| Salary range | Between $68,000 And $118,000 | Between $28,000 And $60,000 |
| Highest paying City | Marysville, WA | New York, NY |
| Highest paying state | Washington | South Dakota |
| Best paying company | Inter-American Development Bank | Centennial Bank |
| Best paying industry | Technology | Transportation |
There are a few differences between a bank consultant and a loan originator in terms of educational background:
| Bank Consultant | Loan Originator | |
| Most common degree | Bachelor's Degree, 69% | Bachelor's Degree, 61% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between bank consultants' and loan originators' demographics:
| Bank Consultant | Loan Originator | |
| Average age | 45 | 45 |
| Gender ratio | Male, 59.0% Female, 41.0% | Male, 54.0% Female, 46.0% |
| 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, 16.1% Asian, 6.4% White, 63.2% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 8% | 8% |