Explore jobs
Find specific jobs
Explore careers
Explore professions
Best companies
Explore companies
The differences between negotiators and loan servicing specialists can be seen in a few details. Each job has different responsibilities and duties. Additionally, a loan servicing specialist has an average salary of $65,799, which is higher than the $63,632 average annual salary of a negotiator.
The top three skills for a negotiator include financial statements, powerpoint and nielsen. The most important skills for a loan servicing specialist are loan modifications, customer service, and foreclosure process.
A Negotiator is primarily in charge of communicating with clients and business partners to negotiate and establish sales, building positive relationships in the process. They typically perform market research and analysis to develop plans and sales pitches, coordinate with the company's legal team, arrange appointments with clients to discuss contract terms, and address issues and concerns, resolving them promptly and efficiently. Moreover, a negotiator maintains an active communication line with staff, regularly reporting to managers for a smooth and efficient workflow.
A loan servicing specialist is an individual who reviews, authorizes, and recommends commercial and personal loans for approval. It is the loan officer who meets with their applicants to identify their creditworthiness. Typically, they work at credit unions, commercial banks, mortgage companies, and financial institutions. They ensure operational risk controls, regulatory policies and standards, and compliance. Among the skills necessary for the job include customer service and relations, leadership, analytical skills, and communication skills.
Negotiators and loan servicing specialists have different pay scales, as shown below.
| Negotiator | Loan Servicing Specialist | |
| Average salary | $63,632 | $65,799 |
| Salary range | Between $35,000 And $114,000 | Between $28,000 And $153,000 |
| Highest paying City | Islip, NY | Charleston, SC |
| Highest paying state | New York | Maryland |
| Best paying company | Bloomberg | Glacier Ban |
| Best paying industry | Media | Finance |
There are a few differences between a negotiator and a loan servicing specialist in terms of educational background:
| Negotiator | Loan Servicing Specialist | |
| Most common degree | Bachelor's Degree, 64% | Bachelor's Degree, 55% |
| Most common major | Business | Business |
| Most common college | - | University of Pennsylvania |
Here are the differences between negotiators' and loan servicing specialists' demographics:
| Negotiator | Loan Servicing Specialist | |
| Average age | 44 | 42 |
| Gender ratio | Male, 47.4% Female, 52.6% | Male, 32.2% Female, 67.8% |
| Race ratio | Black or African American, 6.4% Unknown, 4.6% Hispanic or Latino, 9.4% Asian, 8.8% White, 70.4% American Indian and Alaska Native, 0.4% | 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 | 11% | 7% |