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The differences between loan secretaries and loan servicing specialists can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both a loan secretary and a loan servicing specialist. Additionally, a loan servicing specialist has an average salary of $65,799, which is higher than the $35,271 average annual salary of a loan secretary.
The top three skills for a loan secretary include customer service, real estate loans and financial statements. The most important skills for a loan servicing specialist are loan modifications, customer service, and foreclosure process.
| Loan Secretary | Loan Servicing Specialist | |
| Yearly salary | $35,271 | $65,799 |
| Hourly rate | $16.96 | $31.63 |
| Growth rate | -3% | -3% |
| Number of jobs | 15,452 | 31,753 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 37% | Bachelor's Degree, 55% |
| Average age | 42 | 42 |
| Years of experience | 4 | 4 |
Loan secretaries and loan servicing specialists have different pay scales, as shown below.
| Loan Secretary | Loan Servicing Specialist | |
| Average salary | $35,271 | $65,799 |
| Salary range | Between $26,000 And $46,000 | Between $28,000 And $153,000 |
| Highest paying City | - | Charleston, SC |
| Highest paying state | - | Maryland |
| Best paying company | - | Glacier Ban |
| Best paying industry | - | Finance |
There are a few differences between a loan secretary and a loan servicing specialist in terms of educational background:
| Loan Secretary | Loan Servicing Specialist | |
| Most common degree | Bachelor's Degree, 37% | Bachelor's Degree, 55% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between loan secretaries' and loan servicing specialists' demographics:
| Loan Secretary | Loan Servicing Specialist | |
| Average age | 42 | 42 |
| Gender ratio | Male, 3.6% Female, 96.4% | Male, 32.2% Female, 67.8% |
| Race ratio | Black or African American, 12.7% Unknown, 4.9% Hispanic or Latino, 13.8% Asian, 6.3% White, 61.8% American Indian and Alaska Native, 0.6% | Black or African American, 11.8% Unknown, 4.4% Hispanic or Latino, 14.4% Asian, 8.2% White, 60.7% American Indian and Alaska Native, 0.4% |
| LGBT Percentage | 7% | 7% |