Word processor vs contract processor

The differences between word processors and contract processors can be seen in a few details. Each job has different responsibilities and duties. It typically takes 6-12 months to become both a word processor and a contract processor. Additionally, a word processor has an average salary of $39,454, which is higher than the $35,234 average annual salary of a contract processor.

The top three skills for a word processor include powerpoint, data entry and proofreading. The most important skills for a contract processor are data entry, computer system, and contract data.

Word processor vs contract processor overview

	Word Processor	Contract Processor
Yearly salary	$39,454	$35,234
Hourly rate	$18.97	$16.94
Growth rate	-8%	-3%
Number of jobs	7,995	13,996
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 38%	Bachelor's Degree, 45%
Average age	50	50
Years of experience	12	12

Word processor vs contract processor salary

Word processors and contract processors have different pay scales, as shown below.

	Word Processor	Contract Processor
Average salary	$39,454	$35,234
Salary range	Between $26,000 And $58,000	Between $27,000 And $45,000
Highest paying City	San Francisco, CA	-
Highest paying state	California	-
Best paying company	Kent Daniels & Associates	-
Best paying industry	Professional	-

Differences between word processor and contract processor education

There are a few differences between a word processor and a contract processor in terms of educational background:

	Word Processor	Contract Processor
Most common degree	Bachelor's Degree, 38%	Bachelor's Degree, 45%
Most common major	Business	Business
Most common college	-	-

Word processor vs contract processor demographics

Here are the differences between word processors' and contract processors' demographics:

	Word Processor	Contract Processor
Average age	50	50
Gender ratio	Male, 13.6% Female, 86.4%	Male, 28.2% Female, 71.8%
Race ratio	Black or African American, 6.7% Unknown, 4.5% Hispanic or Latino, 10.7% Asian, 4.7% White, 72.3% American Indian and Alaska Native, 1.1%	Black or African American, 6.7% Unknown, 4.5% Hispanic or Latino, 10.7% Asian, 4.7% White, 72.3% American Indian and Alaska Native, 1.1%
LGBT Percentage	7%	7%

Differences between word processor and contract processor duties and responsibilities

Word processor example responsibilities.

Create and update Microsoft VISIO graphs.
Complete document in SPD drive the same day as payroll.
Train all desktop publishers on new style sheets for various college examinations.
Prepare pleadings, briefs, opinions for filing and trial via transcription.
Edit and proofread authors and desktop publisher's manuscripts ahead of the editing department.
Process work orders utilizing WordPerfect software, transcribe from Dictaphone system, answer phones and sort mail.

Contract processor example responsibilities.

Coach fellow team members to help attain higher QA and assist with CANDE questions to ensure efficiency.
Process FHA, VA and CONV.
Process and pre-underwrite FHA and conventional loans.
Schedule closings and review final HUD report and any adverse compliance action.
Recognize for being proficient in thinking outside the box for satisfactory documentation to clear underwriting conditions and RESPA regulations.
Respond to mortgage lenders and taxing agency jurisdictions by utilizing effective verbal and written communication in a prompt and accurate manner.

Word processor vs contract processor skills

Common word processor skills

PowerPoint, 15%
Data Entry, 14%
Proofreading, 10%
Law Firm, 5%
Financial Statements, 5%
Word Processing Equipment, 4%

Common contract processor skills

Data Entry, 24%
Computer System, 14%
Contract Data, 9%
Process Contracts, 9%
Customer Issues, 7%
Financial Transactions, 6%