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The differences between bank consultants and senior loan processors 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 senior loan processor. Additionally, a bank consultant has an average salary of $90,094, which is higher than the $50,297 average annual salary of a senior loan processor.
The top three skills for a bank consultant include customer service, powerpoint and risk management. The most important skills for a senior loan processor are customer service, FHA, and va.
| Bank Consultant | Senior Loan Processor | |
| Yearly salary | $90,094 | $50,297 |
| Hourly rate | $43.31 | $24.18 |
| Growth rate | 4% | 4% |
| Number of jobs | 17,023 | 21,995 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 69% | Bachelor's Degree, 50% |
| 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 senior loan processor works in a financial institution to solicit, negotiate, and coordinate consumers' and commercial loans. Old loan processors must review and verify loan documents and ensure that the required documents are complete and accurate. In the case of missing documentation, senior loan processors must communicate with customers to avoid loan approval delay. Old loan processors must also obtain a bachelor's degree in finance, business administration, or any other related field.
Bank consultants and senior loan processors have different pay scales, as shown below.
| Bank Consultant | Senior Loan Processor | |
| Average salary | $90,094 | $50,297 |
| Salary range | Between $68,000 And $118,000 | Between $33,000 And $75,000 |
| Highest paying City | Marysville, WA | Baltimore, MD |
| Highest paying state | Washington | Hawaii |
| Best paying company | Inter-American Development Bank | Accenture |
| Best paying industry | Technology | Professional |
There are a few differences between a bank consultant and a senior loan processor in terms of educational background:
| Bank Consultant | Senior Loan Processor | |
| Most common degree | Bachelor's Degree, 69% | Bachelor's Degree, 50% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between bank consultants' and senior loan processors' demographics:
| Bank Consultant | Senior Loan Processor | |
| Average age | 45 | 45 |
| Gender ratio | Male, 59.0% Female, 41.0% | Male, 23.0% Female, 77.0% |
| 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, 9.1% Unknown, 4.6% Hispanic or Latino, 15.8% Asian, 6.3% White, 63.6% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 8% | 8% |