Disbursing officer vs loan consultant

The differences between disbursing officers and loan consultants can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both a disbursing officer and a loan consultant. Additionally, a loan consultant has an average salary of $38,876, which is higher than the $33,641 average annual salary of a disbursing officer.

The top three skills for a disbursing officer include financial management, payroll services and treasury. The most important skills for a loan consultant are loan applications, origination, and customer service.

Disbursing officer vs loan consultant overview

	Disbursing Officer	Loan Consultant
Yearly salary	$33,641	$38,876
Hourly rate	$16.17	$18.69
Growth rate	4%	4%
Number of jobs	56,773	23,448
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 63%	Bachelor's Degree, 62%
Average age	45	45
Years of experience	6	6

Disbursing officer vs loan consultant salary

Disbursing officers and loan consultants have different pay scales, as shown below.

	Disbursing Officer	Loan Consultant
Average salary	$33,641	$38,876
Salary range	Between $23,000 And $48,000	Between $27,000 And $54,000
Highest paying City	-	Sioux Falls, SD
Highest paying state	-	South Dakota
Best paying company	-	Accion
Best paying industry	-	Finance

Differences between disbursing officer and loan consultant education

There are a few differences between a disbursing officer and a loan consultant in terms of educational background:

	Disbursing Officer	Loan Consultant
Most common degree	Bachelor's Degree, 63%	Bachelor's Degree, 62%
Most common major	Business	Business
Most common college	University of Pennsylvania	University of Pennsylvania

Disbursing officer vs loan consultant demographics

Here are the differences between disbursing officers' and loan consultants' demographics:

	Disbursing Officer	Loan Consultant
Average age	45	45
Gender ratio	Male, 59.8% Female, 40.2%	Male, 57.2% Female, 42.8%
Race ratio	Black or African American, 9.1% Unknown, 4.6% Hispanic or Latino, 15.7% Asian, 6.3% White, 63.8% American Indian and Alaska Native, 0.5%	Black or African American, 9.2% Unknown, 4.6% Hispanic or Latino, 16.0% Asian, 6.4% White, 63.3% American Indian and Alaska Native, 0.5%
LGBT Percentage	8%	8%

Differences between disbursing officer and loan consultant duties and responsibilities

Disbursing officer example responsibilities.

Manage high volumes of financial activity in a fast-pace, risk-base combat environment in Afghanistan.
Research and input EFT (electronic funds transfer) information.
Collect loan proceeds and deposit funds into escrow accounts.
Resolve pay/leave problems in coordination with DFAS payroll offices.
Prepare & endorse U.S. Treasury checks for witness fees and death gratuity payments.
Execute electronic funds transfers for civilian payroll and issue reports to U.S. Treasury.

Loan consultant example responsibilities.

Manage a multifacete commercial real estate investment firm.
Facilitate the entire residential loan transaction from underwriting under regulatory compliance, processing, loan origination and marketing.
Originate conventional, FHA, VA and PHFA mortgages, while establishing and maintaining relationships with referral sources.
Consult with attorneys, VA & FHA, appraisers, and construction and lending officials for loan conveyances and loan closings.
Validate income, assets and credit/liability documentation to support origination underwriting guidelines in addition to collection of supporting documentation.
Maintain a sound knowledge of investor guidelines, DU guidelines.

Disbursing officer vs loan consultant skills

Common disbursing officer skills

Financial Management, 25%
Payroll Services, 14%
Treasury, 12%
Internal Controls, 6%
Financial Aid Funds, 5%
Travel Claims, 3%

Common loan consultant skills

Loan Applications, 21%
Origination, 11%
Customer Service, 9%
Financial Services, 6%
Inbound Calls, 5%
Business Development, 4%