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The differences between commercial bankers 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 commercial banker and a mortgage banker. Additionally, a commercial banker has an average salary of $78,697, which is higher than the $27,331 average annual salary of a mortgage banker.
The top three skills for a commercial banker include customer service, business development and treasury. The most important skills for a mortgage banker are customer service, NMLS, and federal regulations.
| Commercial Banker | Mortgage Banker | |
| Yearly salary | $78,697 | $27,331 |
| Hourly rate | $37.84 | $13.14 |
| Growth rate | 4% | 4% |
| Number of jobs | 45,270 | 24,297 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 77% | Bachelor's Degree, 72% |
| Average age | 45 | 45 |
| Years of experience | 6 | 6 |
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.
A Mortgage Banker is specialized in offering financing to buy homes or refinance previous mortgages. They work as part of a banks loan department.
Commercial bankers and mortgage bankers have different pay scales, as shown below.
| Commercial Banker | Mortgage Banker | |
| Average salary | $78,697 | $27,331 |
| Salary range | Between $51,000 And $121,000 | Between $9,000 And $78,000 |
| Highest paying City | Seattle, WA | - |
| Highest paying state | New Mexico | - |
| Best paying company | Northern Trust | - |
| Best paying industry | Finance | - |
There are a few differences between a commercial banker and a mortgage banker in terms of educational background:
| Commercial Banker | Mortgage Banker | |
| Most common degree | Bachelor's Degree, 77% | Bachelor's Degree, 72% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between commercial bankers' and mortgage bankers' demographics:
| Commercial Banker | Mortgage Banker | |
| Average age | 45 | 45 |
| Gender ratio | Male, 63.5% Female, 36.5% | Male, 71.7% Female, 28.3% |
| 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, 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% |