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The differences between bankers and mortgage bankers can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 2-4 years to become a banker, becoming a mortgage banker takes usually requires 4-6 years. Additionally, a banker has an average salary of $44,463, which is higher than the $27,331 average annual salary of a mortgage banker.
The top three skills for a banker include taking care, financial services and securities. The most important skills for a mortgage banker are customer service, NMLS, and federal regulations.
| Banker | Mortgage Banker | |
| Yearly salary | $44,463 | $27,331 |
| Hourly rate | $21.38 | $13.14 |
| Growth rate | 10% | 4% |
| Number of jobs | 29,725 | 24,297 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 56% | Bachelor's Degree, 72% |
| Average age | 43 | 45 |
| Years of experience | 4 | 6 |
A banker is primarily responsible for assisting clients with their banking needs, particularly when withdrawing, depositing, and paying. Aside from handling transactions, bankers are also mainly responsible for opening and closing accounts, processing requirements, verifying the validity of documentation, recommending services and other financial options to clients, and resolving inquiries and concerns. A banker may answer calls and correspondence, coordinate with other banking personnel, maintain accurate data, and discuss conditions to clients thoroughly. Furthermore, because a banker mainly works with clients, it is essential to attain customer satisfaction.
A Mortgage Banker is specialized in offering financing to buy homes or refinance previous mortgages. They work as part of a banks loan department.
Bankers and mortgage bankers have different pay scales, as shown below.
| Banker | Mortgage Banker | |
| Average salary | $44,463 | $27,331 |
| Salary range | Between $20,000 And $97,000 | Between $9,000 And $78,000 |
| Highest paying City | New York, NY | - |
| Highest paying state | New York | - |
| Best paying company | Citi | - |
| Best paying industry | Finance | - |
There are a few differences between a banker and a mortgage banker in terms of educational background:
| Banker | Mortgage Banker | |
| Most common degree | Bachelor's Degree, 56% | Bachelor's Degree, 72% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between bankers' and mortgage bankers' demographics:
| Banker | Mortgage Banker | |
| Average age | 43 | 45 |
| Gender ratio | Male, 46.3% Female, 53.7% | Male, 71.7% Female, 28.3% |
| Race ratio | Black or African American, 5.5% Unknown, 4.1% Hispanic or Latino, 11.4% Asian, 12.3% White, 66.5% American Indian and Alaska Native, 0.2% | 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 | 6% | 8% |