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The differences between commercial bankers and investment advisors can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 4-6 years to become a commercial banker, becoming an investment advisor takes usually requires 2-4 years. Additionally, an investment advisor has an average salary of $105,377, which is higher than the $78,697 average annual salary of a commercial banker.
The top three skills for a commercial banker include customer service, business development and treasury. The most important skills for an investment advisor are exceptional client, risk management, and client relationships.
| Commercial Banker | Investment Advisor | |
| Yearly salary | $78,697 | $105,377 |
| Hourly rate | $37.84 | $50.66 |
| Growth rate | 4% | 15% |
| Number of jobs | 45,270 | 63,438 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 77% | Bachelor's Degree, 76% |
| Average age | 45 | 45 |
| Years of experience | 6 | 4 |
A commercial banker is responsible for providing financial advice and selling financial instruments to corporate clients according to their business needs and specifications. Commercial bankers process the opening and registration of corporate client accounts, updating the clients with current financial services, and resolving account disputes. They also manage investment options and identify opportunities that would help the bank gain more prospective clients that would increase the company's revenues and profitability. A commercial banker must have excellent knowledge of the banking industry to determine banking solutions for clients for their best interests.
An investment advisor is responsible for managing the clients' financial portfolios, advising them of investment options according to their financial goals and objectives, and their ability to handle risks. Investment advisors should have excellent knowledge of the investment policies, providing the clients with the best financial strategies according to their interests. They also determine their expenses, income, and credit scores to identify a comprehensive financial plan. An investment advisor helps the clients with cash management techniques, as well as conducting data analysis on financial market projections.
Commercial bankers and investment advisors have different pay scales, as shown below.
| Commercial Banker | Investment Advisor | |
| Average salary | $78,697 | $105,377 |
| Salary range | Between $51,000 And $121,000 | Between $60,000 And $184,000 |
| Highest paying City | Seattle, WA | New York, NY |
| Highest paying state | New Mexico | New York |
| Best paying company | Northern Trust | McKinsey & Company Inc |
| Best paying industry | Finance | Telecommunication |
There are a few differences between a commercial banker and an investment advisor in terms of educational background:
| Commercial Banker | Investment Advisor | |
| Most common degree | Bachelor's Degree, 77% | Bachelor's Degree, 76% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Minnesota - Twin Cities |
Here are the differences between commercial bankers' and investment advisors' demographics:
| Commercial Banker | Investment Advisor | |
| Average age | 45 | 45 |
| Gender ratio | Male, 63.5% Female, 36.5% | Male, 72.3% Female, 27.7% |
| Race ratio | Black or African American, 9.7% Unknown, 4.7% Hispanic or Latino, 14.7% Asian, 6.6% White, 63.8% American Indian and Alaska Native, 0.5% | Black or African American, 5.6% Unknown, 4.4% Hispanic or Latino, 9.4% Asian, 8.2% White, 72.3% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 8% | 5% |