Loan clerk vs clerk

The differences between loan clerks and clerks can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 2-4 years to become a loan clerk, becoming a clerk takes usually requires 1-2 years. Additionally, a clerk has an average salary of $31,163, which is higher than the $26,552 average annual salary of a loan clerk.

The top three skills for a loan clerk include customer service, loan payments and financial data. The most important skills for a clerk are basic math, math, and data entry.

Loan clerk vs clerk overview

	Loan Clerk	Clerk
Yearly salary	$26,552	$31,163
Hourly rate	$12.77	$14.98
Growth rate	-3%	-5%
Number of jobs	75,101	80,311
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 40%	Bachelor's Degree, 33%
Average age	42	47
Years of experience	4	2

Loan clerk vs clerk salary

Loan clerks and clerks have different pay scales, as shown below.

	Loan Clerk	Clerk
Average salary	$26,552	$31,163
Salary range	Between $19,000 And $35,000	Between $24,000 And $39,000
Highest paying City	Newark, NJ	Washington, DC
Highest paying state	California	New Hampshire
Best paying company	UFCU	University of Massachusetts Boston
Best paying industry	Finance	Health Care

Differences between loan clerk and clerk education

There are a few differences between a loan clerk and a clerk in terms of educational background:

	Loan Clerk	Clerk
Most common degree	Bachelor's Degree, 40%	Bachelor's Degree, 33%
Most common major	Business	Business
Most common college	University of Pennsylvania	Western Carolina University

Loan clerk vs clerk demographics

Here are the differences between loan clerks' and clerks' demographics:

	Loan Clerk	Clerk
Average age	42	47
Gender ratio	Male, 16.9% Female, 83.1%	Male, 34.1% Female, 65.9%
Race ratio	Black or African American, 12.9% Unknown, 4.7% Hispanic or Latino, 14.6% Asian, 7.0% White, 60.3% American Indian and Alaska Native, 0.5%	Black or African American, 9.9% Unknown, 4.7% Hispanic or Latino, 21.1% Asian, 7.7% White, 55.6% American Indian and Alaska Native, 1.1%
LGBT Percentage	7%	6%

Differences between loan clerk and clerk duties and responsibilities

Loan clerk example responsibilities.

Manage A/R transactions, prepare weekly account reconciliation's, perform research/ adjustments on A/P and A/R discrepancy accounts.
Monitor UCC filings and updates.
Prepare SBA loans using WordPrefect.
Record UCC filings on-line and by mail.
Review loan files, facilitate and verify loss mitigation application request, determine eligibility for clients requesting foreclosure financial assistance.
Work with HUD the VA and FHA to make sure all requirements are completed.

Clerk example responsibilities.

Demonstrate strong math skills in managing inmate s accounts and calmly and effectively deescalating outbursts of belligerent inmates.
Manage orthopedic accounts regarding payment posting through IDX medical systems.
Administer financial bookkeeping by way of QuickBooks.
Bank reconciliation in QuickBooks and assist bookkeeper when need.
Maintain a high level of confidentiality as required by HIPAA.
Call DMV's and dealerships when liens are not perfect.

Loan clerk vs clerk skills

Common loan clerk skills

Customer Service, 22%
Loan Payments, 12%
Financial Data, 10%
Mortgage Loans, 5%
Credit Reports, 4%
General Ledger Accounts, 3%

Common clerk skills

Basic Math, 18%
Math, 10%
Data Entry, 10%
Customer Service, 9%
Cleanliness, 8%
POS, 5%