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The differences between business banking officers and foreclosure specialists can be seen in a few details. Each job has different responsibilities and duties. Additionally, a business banking officer has an average salary of $77,195, which is higher than the $41,088 average annual salary of a foreclosure specialist.
The top three skills for a business banking officer include business development, customer relationships and customer service. The most important skills for a foreclosure specialist are foreclosure process, insurer, and loss mitigation.
| Business Banking Officer | Foreclosure Specialist | |
| Yearly salary | $77,195 | $41,088 |
| Hourly rate | $37.11 | $19.75 |
| Growth rate | 4% | -3% |
| Number of jobs | 110,616 | 8,166 |
| Job satisfaction | 4 | - |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 50% |
| Average age | 45 | 43 |
| Years of experience | 6 | - |
A business banking officer is primarily in charge of liaising with clients, ensuring they get to receive prompt and efficient service. Among their responsibilities include identifying the clients' needs, answering inquiries, recommending other services, and addressing issues and concerns, resolving them in a timely manner. Moreover, a business banking officer may also devise networking strategies to identify new business or client opportunities. Above all, it is essential to build positive relationships with clients and adhere to the company's policies and regulations.
A foreclosure specialist is a real estate professional that manages foreclosure processes. Serving in this role means that you will have responsibilities such as ensuring that aspects related to foreclosure meet all government regulations from the federal level to the state level and that deadlines are met and duly communicated to all parties involved. You may have to work with mortgage holders that run the risk of default, in which case you will be tasked with renegotiating loan agreement changes.
Business banking officers and foreclosure specialists have different pay scales, as shown below.
| Business Banking Officer | Foreclosure Specialist | |
| Average salary | $77,195 | $41,088 |
| Salary range | Between $51,000 And $115,000 | Between $28,000 And $58,000 |
| Highest paying City | New York, NY | - |
| Highest paying state | New York | - |
| Best paying company | Takeda Pharmaceuticals U.S.A., Inc. | - |
| Best paying industry | Finance | - |
There are a few differences between a business banking officer and a foreclosure specialist in terms of educational background:
| Business Banking Officer | Foreclosure Specialist | |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 50% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between business banking officers' and foreclosure specialists' demographics:
| Business Banking Officer | Foreclosure Specialist | |
| Average age | 45 | 43 |
| Gender ratio | Male, 57.8% Female, 42.2% | Male, 32.2% Female, 67.8% |
| Race ratio | Black or African American, 9.2% Unknown, 4.6% Hispanic or Latino, 15.9% Asian, 6.4% White, 63.4% American Indian and Alaska Native, 0.5% | Black or African American, 8.6% Unknown, 3.9% Hispanic or Latino, 9.6% Asian, 10.0% White, 67.6% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 8% | 4% |