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The differences between loan doc specialists and service specialists 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 doc specialist, becoming a service specialist takes usually requires 6-12 months. Additionally, a service specialist has an average salary of $44,150, which is higher than the $38,480 average annual salary of a loan doc specialist.
The top three skills for a loan doc specialist include customer service, organization and origination. The most important skills for a service specialist are patients, social work, and criminal justice.
| Loan DOC Specialist | Service Specialist | |
| Yearly salary | $38,480 | $44,150 |
| Hourly rate | $18.50 | $21.23 |
| Growth rate | -3% | -4% |
| Number of jobs | 31,243 | 207,020 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 47% | Bachelor's Degree, 53% |
| Average age | 42 | 40 |
| Years of experience | 4 | 12 |
A loan document specialist is a person who gathers loan documents from the client to help them with the approval of their mortgage, credit, and lease application for a business, home, and school needs. They are responsible for combining the data that is needed and then reviewing and compiling it according to loan requirements and guidelines. A loan document specialist also communicates with the client if there are any problems and additional documents that are needed. Furthermore, the specialist is a person who knows how to manage loans and has organizational and management skills.
A service specialist is responsible for assisting customers with their inquiries and concerns about the services offered by the organization. Service specialists' duties include responding to customers' requests, updating customers of promotional offers and new services, escalating high-level concerns to the appropriate department, and keeping accurate records of clients' issues and resolutions. Service specialists are also in charge of preparing customer surveys to rate their satisfaction and identifying opportunities for service improvement. A service specialist must display excellent customer service and communication skills to address clients' concerns efficiently and accurately.
Loan doc specialists and service specialists have different pay scales, as shown below.
| Loan DOC Specialist | Service Specialist | |
| Average salary | $38,480 | $44,150 |
| Salary range | Between $25,000 And $58,000 | Between $27,000 And $71,000 |
| Highest paying City | Jersey City, NJ | Boston, MA |
| Highest paying state | West Virginia | Massachusetts |
| Best paying company | Valley Children's | Ropes & Gray |
| Best paying industry | Finance | Technology |
There are a few differences between a loan doc specialist and a service specialist in terms of educational background:
| Loan DOC Specialist | Service Specialist | |
| Most common degree | Bachelor's Degree, 47% | Bachelor's Degree, 53% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | - |
Here are the differences between loan doc specialists' and service specialists' demographics:
| Loan DOC Specialist | Service Specialist | |
| Average age | 42 | 40 |
| Gender ratio | Male, 29.0% Female, 71.0% | Male, 40.1% Female, 59.9% |
| Race ratio | Black or African American, 11.2% Unknown, 4.5% Hispanic or Latino, 14.5% Asian, 8.6% White, 60.8% American Indian and Alaska Native, 0.4% | Black or African American, 11.2% Unknown, 5.4% Hispanic or Latino, 20.9% Asian, 7.5% White, 54.2% American Indian and Alaska Native, 0.7% |
| LGBT Percentage | 7% | 7% |