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The differences between business banking officers and mortgage bankers can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both a business banking officer and a mortgage banker. Additionally, a business banking officer has an average salary of $77,195, which is higher than the $27,331 average annual salary of a mortgage banker.
The top three skills for a business banking officer include business development, customer relationships and customer service. The most important skills for a mortgage banker are customer service, NMLS, and federal regulations.
| Business Banking Officer | Mortgage Banker | |
| Yearly salary | $77,195 | $27,331 |
| Hourly rate | $37.11 | $13.14 |
| Growth rate | 4% | 4% |
| Number of jobs | 110,616 | 24,297 |
| Job satisfaction | 4 | - |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 72% |
| Average age | 45 | 45 |
| Years of experience | 6 | 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 Mortgage Banker is specialized in offering financing to buy homes or refinance previous mortgages. They work as part of a banks loan department.
Business banking officers and mortgage bankers have different pay scales, as shown below.
| Business Banking Officer | Mortgage Banker | |
| Average salary | $77,195 | $27,331 |
| Salary range | Between $51,000 And $115,000 | Between $9,000 And $78,000 |
| 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 mortgage banker in terms of educational background:
| Business Banking Officer | Mortgage Banker | |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 72% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between business banking officers' and mortgage bankers' demographics:
| Business Banking Officer | Mortgage Banker | |
| Average age | 45 | 45 |
| Gender ratio | Male, 57.8% Female, 42.2% | Male, 71.7% Female, 28.3% |
| 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, 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 | 8% | 8% |