Bank consultant vs mortgage broker

The differences between bank consultants and mortgage brokers 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 broker. Additionally, a mortgage broker has an average salary of $124,376, which is higher than the $90,094 average annual salary of a bank consultant.

The top three skills for a bank consultant include customer service, powerpoint and risk management. The most important skills for a mortgage broker are loan applications, FHA, and va.

Bank consultant vs mortgage broker overview

	Bank Consultant	Mortgage Broker
Yearly salary	$90,094	$124,376
Hourly rate	$43.31	$59.80
Growth rate	4%	4%
Number of jobs	17,023	12,782
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 69%	Bachelor's Degree, 64%
Average age	45	45
Years of experience	6	6

Bank consultant vs mortgage broker salary

Bank consultants and mortgage brokers have different pay scales, as shown below.

	Bank Consultant	Mortgage Broker
Average salary	$90,094	$124,376
Salary range	Between $68,000 And $118,000	Between $89,000 And $172,000
Highest paying City	Marysville, WA	-
Highest paying state	Washington	-
Best paying company	Inter-American Development Bank	-
Best paying industry	Technology	-

Differences between bank consultant and mortgage broker education

There are a few differences between a bank consultant and a mortgage broker in terms of educational background:

	Bank Consultant	Mortgage Broker
Most common degree	Bachelor's Degree, 69%	Bachelor's Degree, 64%
Most common major	Business	Business
Most common college	University of Pennsylvania	University of Pennsylvania

Bank consultant vs mortgage broker demographics

Here are the differences between bank consultants' and mortgage brokers' demographics:

	Bank Consultant	Mortgage Broker
Average age	45	45
Gender ratio	Male, 59.0% Female, 41.0%	Male, 67.5% Female, 32.5%
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, 9.3% Unknown, 4.6% Hispanic or Latino, 16.1% Asian, 6.4% White, 63.0% American Indian and Alaska Native, 0.5%
LGBT Percentage	8%	8%

Differences between bank consultant and mortgage broker duties and responsibilities

Bank consultant example responsibilities.

Provide SharePoint development and administration, budget and financial reporting; manage invoicing; and develop training manuals and user guides.
Collaborate with various work streams to facilitate customer distributions, security liquidations, and other cash & securities activities.
Conduct regular loan portfolio analysis consisting of monitoring of derivative exposure, periodic loan reviews, and covenant and compliance tracking.
Review profitability models to determine new ATM sites at existing corporate and service locations.

Mortgage broker example responsibilities.

Educate clients on mortgage contractual guidelines and process FHA, VA, and conventional loans reviewing files for submission to underwriting.
Foster deeper client relationships with commercial and residential lenders driving referrals by delivering excellent customer service.
Originate residential conventional, VA, home equity, commercial and construction loans.
Establish a network of contacts with community banks, appraisers, lenders, and other brokers.
Originate, process, and submit all types of commercial and SBA loans to the applicable lender.
Develop business plan, raise investment capital, create business processes, and obtain licensing, VA certification, HUD approval.

Bank consultant vs mortgage broker skills

Common bank consultant skills

Customer Service, 27%
PowerPoint, 7%
Risk Management, 7%
Customer Satisfaction, 7%
Financial Services, 6%
Securities, 5%

Common mortgage broker skills

Loan Applications, 14%
FHA, 8%
Va, 8%
Loan Programs, 5%
Credit Reports, 5%
Loan Process, 5%