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The differences between bank consultants and mortgage bankers 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 mortgage banker. Additionally, a bank consultant has an average salary of $90,094, which is higher than the $27,331 average annual salary of a mortgage banker.
The top three skills for a bank consultant include customer service, powerpoint and risk management. The most important skills for a mortgage banker are customer service, NMLS, and federal regulations.
| Bank Consultant | Mortgage Banker | |
| Yearly salary | $90,094 | $27,331 |
| Hourly rate | $43.31 | $13.14 |
| Growth rate | 4% | 4% |
| Number of jobs | 17,023 | 24,297 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 69% | Bachelor's Degree, 72% |
| 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 Mortgage Banker is specialized in offering financing to buy homes or refinance previous mortgages. They work as part of a banks loan department.
Bank consultants and mortgage bankers have different pay scales, as shown below.
| Bank Consultant | Mortgage Banker | |
| Average salary | $90,094 | $27,331 |
| Salary range | Between $68,000 And $118,000 | Between $9,000 And $78,000 |
| Highest paying City | Marysville, WA | - |
| Highest paying state | Washington | - |
| Best paying company | Inter-American Development Bank | - |
| Best paying industry | Technology | - |
There are a few differences between a bank consultant and a mortgage banker in terms of educational background:
| Bank Consultant | Mortgage Banker | |
| Most common degree | Bachelor's Degree, 69% | Bachelor's Degree, 72% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between bank consultants' and mortgage bankers' demographics:
| Bank Consultant | Mortgage Banker | |
| Average age | 45 | 45 |
| Gender ratio | Male, 59.0% Female, 41.0% | Male, 71.7% Female, 28.3% |
| 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, 9.5% Unknown, 4.7% Hispanic or Latino, 15.7% Asian, 6.5% White, 63.2% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 8% | 8% |