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The differences between agricultural loan officers and commercial loan officers can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both an agricultural loan officer and a commercial loan officer. Additionally, a commercial loan officer has an average salary of $70,876, which is higher than the $43,755 average annual salary of an agricultural loan officer.
The top three skills for an agricultural loan officer include loan portfolio, financial statements and loan committee. The most important skills for a commercial loan officer are customer service, loan portfolio, and financial statements.
| Agricultural Loan Officer | Commercial Loan Officer | |
| Yearly salary | $43,755 | $70,876 |
| Hourly rate | $21.04 | $34.08 |
| Growth rate | 4% | 4% |
| Number of jobs | 65,430 | 91,582 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 65% | Bachelor's Degree, 76% |
| Average age | 45 | 45 |
| Years of experience | 6 | 6 |
An agricultural loan officer provides loan assistance to people in the agricultural sector. Farmers, fishers, and livestock owners all need steady funds for their operations, and the variable nature of the agricultural sector may threaten to end their businesses. An agricultural loan officer assesses potential recipients, determines their needs, and determines the total cost required to continue their businesses' operations. This position requires good communication skills, high organization, and strong background knowledge of social work.
Commercial loan officers are financial professionals who are responsible for assessing and processing business loan applications at financial institutions. These loan officers must advise clients about their suitable loan and credit options while consulting with managers on credit policies, credit lines, and procedures. They are required to obtain and assess the financial information of applicants that includes their financial statements and credit histories. Commercial loan officers must also collaborate with other financial institutions to set up loan packages for extensive loans.
Agricultural loan officers and commercial loan officers have different pay scales, as shown below.
| Agricultural Loan Officer | Commercial Loan Officer | |
| Average salary | $43,755 | $70,876 |
| Salary range | Between $29,000 And $65,000 | Between $50,000 And $100,000 |
| Highest paying City | San Bernardino, CA | Fort Lee, NJ |
| Highest paying state | New York | Maine |
| Best paying company | GPAC | Glacier Ban |
| Best paying industry | - | Finance |
There are a few differences between an agricultural loan officer and a commercial loan officer in terms of educational background:
| Agricultural Loan Officer | Commercial Loan Officer | |
| Most common degree | Bachelor's Degree, 65% | Bachelor's Degree, 76% |
| Most common major | Agriculture | Business |
| Most common college | Pennsylvania State University | University of Pennsylvania |
Here are the differences between agricultural loan officers' and commercial loan officers' demographics:
| Agricultural Loan Officer | Commercial Loan Officer | |
| Average age | 45 | 45 |
| Gender ratio | Male, 77.4% Female, 22.6% | Male, 73.8% Female, 26.2% |
| Race ratio | Black or African American, 10.4% Unknown, 4.7% Hispanic or Latino, 12.3% Asian, 7.0% White, 65.1% American Indian and Alaska Native, 0.5% | Black or African American, 9.3% Unknown, 4.6% Hispanic or Latino, 15.5% Asian, 6.5% White, 63.6% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 8% | 8% |