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The differences between agricultural loan officers and credit officers can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 4-6 years to become an agricultural loan officer, becoming a credit officer takes usually requires 1-2 years. Additionally, a credit officer has an average salary of $129,478, 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 credit officer are risk management, credit risk, and credit analysis.
| Agricultural Loan Officer | Credit Officer | |
| Yearly salary | $43,755 | $129,478 |
| Hourly rate | $21.04 | $62.25 |
| Growth rate | 4% | 17% |
| Number of jobs | 65,430 | 60,323 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 65% | Bachelor's Degree, 69% |
| Average age | 45 | 39 |
| Years of experience | 6 | 2 |
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 credit officer is responsible for evaluating financial documents and account statements to determine the eligibility of an applicant for a loan option. Credit officers communicate with the applicant to discuss the loan process, explain the terms of service, and provide them alternative options that would fit their payment ability and loan needs. They create financial reports and recommend the qualified applicant to the manager for approval. A credit officer should have excellent communication and analytical skills, ensuring that the loan policies adhere to the federal and state regulations.
Agricultural loan officers and credit officers have different pay scales, as shown below.
| Agricultural Loan Officer | Credit Officer | |
| Average salary | $43,755 | $129,478 |
| Salary range | Between $29,000 And $65,000 | Between $85,000 And $196,000 |
| Highest paying City | San Bernardino, CA | New York, NY |
| Highest paying state | New York | New York |
| Best paying company | GPAC | Farm Credit System |
| Best paying industry | - | Finance |
There are a few differences between an agricultural loan officer and a credit officer in terms of educational background:
| Agricultural Loan Officer | Credit Officer | |
| Most common degree | Bachelor's Degree, 65% | Bachelor's Degree, 69% |
| Most common major | Agriculture | Business |
| Most common college | Pennsylvania State University | University of Pennsylvania |
Here are the differences between agricultural loan officers' and credit officers' demographics:
| Agricultural Loan Officer | Credit Officer | |
| Average age | 45 | 39 |
| Gender ratio | Male, 77.4% Female, 22.6% | Male, 64.4% Female, 35.6% |
| 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, 8.0% Unknown, 2.7% Hispanic or Latino, 9.7% Asian, 10.7% White, 68.6% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 8% | 11% |