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The differences between agricultural loan officers and consumer loan underwriters 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 consumer loan underwriter. Additionally, a consumer loan underwriter has an average salary of $53,525, 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 consumer loan underwriter are financial statements, loan applications, and strong analytical.
| Agricultural Loan Officer | Consumer Loan Underwriter | |
| Yearly salary | $43,755 | $53,525 |
| Hourly rate | $21.04 | $25.73 |
| Growth rate | 4% | 4% |
| Number of jobs | 65,430 | 17,495 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 65% | Bachelor's Degree, 66% |
| 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.
A consumer loan underwriter, or often known as a loan officer, is a financial professional who works at a credit union or other financial institution to approve or disapprove loans to clients. Consumer loan underwriters must review and verify the information provided by loan applicants and then decide on approving or denying a loan according to the policies of the institution. They must determine maximum loss potential by identifying all loans that are associated with a borrower where fraud may have occurred. Consumer loan underwriters must also demonstrate experience in underwriting conventional and FHA loans.
Agricultural loan officers and consumer loan underwriters have different pay scales, as shown below.
| Agricultural Loan Officer | Consumer Loan Underwriter | |
| Average salary | $43,755 | $53,525 |
| Salary range | Between $29,000 And $65,000 | Between $37,000 And $76,000 |
| Highest paying City | San Bernardino, CA | New York, NY |
| Highest paying state | New York | New York |
| Best paying company | GPAC | Marcus & Millichap |
| Best paying industry | - | Finance |
There are a few differences between an agricultural loan officer and a consumer loan underwriter in terms of educational background:
| Agricultural Loan Officer | Consumer Loan Underwriter | |
| Most common degree | Bachelor's Degree, 65% | Bachelor's Degree, 66% |
| Most common major | Agriculture | Business |
| Most common college | Pennsylvania State University | University of Pennsylvania |
Here are the differences between agricultural loan officers' and consumer loan underwriters' demographics:
| Agricultural Loan Officer | Consumer Loan Underwriter | |
| Average age | 45 | 45 |
| Gender ratio | Male, 77.4% Female, 22.6% | Male, 42.6% Female, 57.4% |
| 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, 9.2% 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% |