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The differences between bank consultants and mortgage 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 mortgage consultant. Additionally, a bank consultant has an average salary of $90,094, which is higher than the $38,934 average annual salary of a mortgage consultant.
The top three skills for a bank consultant include customer service, powerpoint and risk management. The most important skills for a mortgage consultant are customer service, origination, and NMLS.
| Bank Consultant | Mortgage Consultant | |
| Yearly salary | $90,094 | $38,934 |
| Hourly rate | $43.31 | $18.72 |
| Growth rate | 4% | 4% |
| Number of jobs | 17,023 | 24,057 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 69% | Bachelor's Degree, 67% |
| 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 consultant is an individual who helps customers and businesses identify the best option for mortgage deals based on their financial resources. To maintain an excellent relationship with clients, mortgage consultants must possess a broad knowledge of the company's products to answer all the clients' queries and concerns. They help clients gather and analyze documents that are required for loan approval and create accurate mortgage information. They also develop relationships with banks and real estate agents to help promote bank mortgages for clients.
Bank consultants and mortgage consultants have different pay scales, as shown below.
| Bank Consultant | Mortgage Consultant | |
| Average salary | $90,094 | $38,934 |
| Salary range | Between $68,000 And $118,000 | Between $23,000 And $63,000 |
| Highest paying City | Marysville, WA | New York, NY |
| Highest paying state | Washington | New York |
| Best paying company | Inter-American Development Bank | Centennial Bank |
| Best paying industry | Technology | Finance |
There are a few differences between a bank consultant and a mortgage consultant in terms of educational background:
| Bank Consultant | Mortgage Consultant | |
| Most common degree | Bachelor's Degree, 69% | Bachelor's Degree, 67% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between bank consultants' and mortgage consultants' demographics:
| Bank Consultant | Mortgage Consultant | |
| Average age | 45 | 45 |
| Gender ratio | Male, 59.0% Female, 41.0% | Male, 58.2% Female, 41.8% |
| 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, 9.3% Unknown, 4.6% Hispanic or Latino, 16.2% Asian, 6.4% White, 62.9% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 8% | 8% |