Senior loan consultant vs loan manager

The differences between senior loan consultants and loan managers 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 loan consultant and a loan manager. Additionally, a loan manager has an average salary of $39,623, which is higher than the $34,256 average annual salary of a senior loan consultant.

The top three skills for a senior loan consultant include origination, loan applications and loan products. The most important skills for a loan manager are loan applications, customer service, and real estate.

Senior loan consultant vs loan manager overview

	Senior Loan Consultant	Loan Manager
Yearly salary	$34,256	$39,623
Hourly rate	$16.47	$19.05
Growth rate	4%	4%
Number of jobs	22,872	11,965
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 67%	Bachelor's Degree, 59%
Average age	45	45
Years of experience	6	6

Senior loan consultant vs loan manager salary

Senior loan consultants and loan managers have different pay scales, as shown below.

	Senior Loan Consultant	Loan Manager
Average salary	$34,256	$39,623
Salary range	Between $27,000 And $42,000	Between $27,000 And $58,000
Highest paying City	-	Jersey City, NJ
Highest paying state	-	New Jersey
Best paying company	-	Pacific Investment Management Company LLC
Best paying industry	-	Finance

Differences between senior loan consultant and loan manager education

There are a few differences between a senior loan consultant and a loan manager in terms of educational background:

	Senior Loan Consultant	Loan Manager
Most common degree	Bachelor's Degree, 67%	Bachelor's Degree, 59%
Most common major	Business	Business
Most common college	University of Pennsylvania	University of Pennsylvania

Senior loan consultant vs loan manager demographics

Here are the differences between senior loan consultants' and loan managers' demographics:

	Senior Loan Consultant	Loan Manager
Average age	45	45
Gender ratio	Male, 64.7% Female, 35.3%	Male, 46.5% Female, 53.5%
Race ratio	Black or African American, 9.3% Unknown, 4.6% Hispanic or Latino, 16.2% Asian, 6.4% White, 63.0% American Indian and Alaska Native, 0.5%	Black or African American, 9.2% Unknown, 4.6% Hispanic or Latino, 15.9% Asian, 6.4% White, 63.5% American Indian and Alaska Native, 0.5%
LGBT Percentage	8%	8%

Differences between senior loan consultant and loan manager duties and responsibilities

Senior loan consultant example responsibilities.

Manage all HMDA reporting, and performing post-closing review of loan documentation.
Specialize in mortgage lending for customers with complex credit portfolios and government loan programs to include FHA and VA loans.
Originate loans through FHA and conventional lenders through knowledge of programs guidelines and availability, following all of RESPA guidelines.
Maintain customer files and documents in RESPA compliance.
Oversee entire mortgage process including application, origination, underwriting and closing.
Create and implement training protocol for new recruits across origination, processing and post-closing.

Loan manager example responsibilities.

Reduce downtime by completing reports on ATM and repairs and managing service calls.
Manage loan origination underwriting and funding teams for dealer and consumer financial products and services.
Ensure all loan origination procedures are followed according to bank and federal guidelines.
Back up to member services, ATM and vault teller when need.
Front end manual and AUS underwriting of FHA purchase, new construction and refinance transactions.
Include supervising a staff of five in submitting VA and FHA loans for guaranty and insuring.

Senior loan consultant vs loan manager skills

Common senior loan consultant skills

Origination, 12%
Loan Applications, 10%
Loan Products, 9%
Escrow, 7%
FHA, 6%
Va, 6%

Common loan manager skills

Loan Applications, 20%
Customer Service, 9%
Real Estate, 9%
Loan Portfolio, 5%
Origination, 5%
Corporate Financial Statements, 4%