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The differences between senior bankers and senior loan processors can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both a senior banker and a senior loan processor. Additionally, a senior banker has an average salary of $66,444, which is higher than the $50,297 average annual salary of a senior loan processor.
The top three skills for a senior banker include bank policies, cross-selling and financial services. The most important skills for a senior loan processor are customer service, FHA, and va.
| Senior Banker | Senior Loan Processor | |
| Yearly salary | $66,444 | $50,297 |
| Hourly rate | $31.94 | $24.18 |
| Growth rate | 4% | 4% |
| Number of jobs | 23,051 | 21,995 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 61% | Bachelor's Degree, 50% |
| Average age | 45 | 45 |
| Years of experience | 6 | 6 |
A senior banker works in a banking facility to help potential clients develop relationships with their company. They promote banking products such as credit cards, accounts, or loans to clients. They also have the responsibility of processing payments and reminding clients of payment deadlines.
A senior loan processor works in a financial institution to solicit, negotiate, and coordinate consumers' and commercial loans. Old loan processors must review and verify loan documents and ensure that the required documents are complete and accurate. In the case of missing documentation, senior loan processors must communicate with customers to avoid loan approval delay. Old loan processors must also obtain a bachelor's degree in finance, business administration, or any other related field.
Senior bankers and senior loan processors have different pay scales, as shown below.
| Senior Banker | Senior Loan Processor | |
| Average salary | $66,444 | $50,297 |
| Salary range | Between $28,000 And $153,000 | Between $33,000 And $75,000 |
| Highest paying City | New York, NY | Baltimore, MD |
| Highest paying state | New York | Hawaii |
| Best paying company | Citi | Accenture |
| Best paying industry | Finance | Professional |
There are a few differences between a senior banker and a senior loan processor in terms of educational background:
| Senior Banker | Senior Loan Processor | |
| Most common degree | Bachelor's Degree, 61% | Bachelor's Degree, 50% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between senior bankers' and senior loan processors' demographics:
| Senior Banker | Senior Loan Processor | |
| Average age | 45 | 45 |
| Gender ratio | Male, 52.8% Female, 47.2% | Male, 23.0% Female, 77.0% |
| Race ratio | Black or African American, 8.9% Unknown, 4.6% Hispanic or Latino, 15.8% Asian, 6.3% White, 63.9% American Indian and Alaska Native, 0.5% | Black or African American, 9.1% Unknown, 4.6% Hispanic or Latino, 15.8% Asian, 6.3% White, 63.6% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 8% | 8% |