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The differences between credit administrators and closers can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 1-2 years to become a credit administrator, becoming a closer takes usually requires 4-6 years. Additionally, a credit administrator has an average salary of $59,271, which is higher than the $29,291 average annual salary of a closer.
The top three skills for a credit administrator include financial statements, credit card payments and real estate. The most important skills for a closer are customer service, cleanliness, and punctuality.
| Credit Administrator | Closer | |
| Yearly salary | $59,271 | $29,291 |
| Hourly rate | $28.50 | $14.08 |
| Growth rate | -8% | 4% |
| Number of jobs | 55,726 | 7,560 |
| Job satisfaction | 2 | - |
| Most common degree | Bachelor's Degree, 63% | Bachelor's Degree, 35% |
| Average age | 39 | 45 |
| Years of experience | 2 | 6 |
A credit administrator oversees the credit operations in a company, ensuring efficiency and client satisfaction. They typically conduct research and analysis, handle credit portfolios, perform credit risk assessments, monitor credit accounts, validate requirements, evaluate applications, and develop strategies to optimize operations. A credit administrator may also perform a variety of clerical tasks such as preparing and processing documents, answering calls and correspondence, organizing information, and maintaining records. Moreover, they must lead and encourage staff to reach goals, all while enforcing and promoting the company's policies and regulations.
The duties of a closer depend on one's line of work or industry of employment. Typically, their responsibilities revolve around liaising with clients to ensure that they understand and adhere to all terms of the agreement, completing all requirements and necessary documents, and maintaining records of all transactions. A closer must also monitor the regular payments of clients to ensure their compliance with the agreement, answer any inquiries, perform follow-up calls, and address any issues or concerns, resolving them promptly and efficiently.
Credit administrators and closers have different pay scales, as shown below.
| Credit Administrator | Closer | |
| Average salary | $59,271 | $29,291 |
| Salary range | Between $33,000 And $106,000 | Between $20,000 And $40,000 |
| Highest paying City | New York, NY | Greece, NY |
| Highest paying state | New York | Hawaii |
| Best paying company | BNY Mellon | GPAC |
| Best paying industry | - | - |
There are a few differences between a credit administrator and a closer in terms of educational background:
| Credit Administrator | Closer | |
| Most common degree | Bachelor's Degree, 63% | Bachelor's Degree, 35% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between credit administrators' and closers' demographics:
| Credit Administrator | Closer | |
| Average age | 39 | 45 |
| Gender ratio | Male, 28.4% Female, 71.6% | Male, 45.0% Female, 55.0% |
| Race ratio | Black or African American, 8.1% Unknown, 2.7% Hispanic or Latino, 10.0% Asian, 9.4% White, 69.5% American Indian and Alaska Native, 0.3% | Black or African American, 9.4% Unknown, 4.6% Hispanic or Latino, 16.3% Asian, 6.1% White, 63.1% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 11% | 8% |