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The differences between agricultural loan officers and loan analysts 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 loan analyst. Additionally, an agricultural loan officer has an average salary of $43,755, which is higher than the $37,857 average annual salary of a loan analyst.
The top three skills for an agricultural loan officer include loan portfolio, financial statements and loan committee. The most important skills for a loan analyst are loan documentation, customer service, and real estate.
| Agricultural Loan Officer | Loan Analyst | |
| Yearly salary | $43,755 | $37,857 |
| Hourly rate | $21.04 | $18.20 |
| Growth rate | 4% | 4% |
| Number of jobs | 65,430 | 24,756 |
| 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 loan analyst is responsible for determining the eligibility of loan applicants in purchasing loan services by analyzing their application documents, account statements, and financial and credit status. Loan analysts evaluate loan agreements and payment plans and explain feasibility to the customers and loan officers before granting the loan. They also provide loan options and alternatives to the clients according to their needs and risk limitations. A loan analyst must have excellent knowledge of the loan and financial industry, especially in handling credit policies and loan processes and ensuring timely submission of reports.
Agricultural loan officers and loan analysts have different pay scales, as shown below.
| Agricultural Loan Officer | Loan Analyst | |
| Average salary | $43,755 | $37,857 |
| Salary range | Between $29,000 And $65,000 | Between $24,000 And $58,000 |
| Highest paying City | San Bernardino, CA | Raleigh, NC |
| Highest paying state | New York | South Dakota |
| Best paying company | GPAC | Barclays |
| Best paying industry | - | Finance |
There are a few differences between an agricultural loan officer and a loan analyst in terms of educational background:
| Agricultural Loan Officer | Loan Analyst | |
| 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 loan analysts' demographics:
| Agricultural Loan Officer | Loan Analyst | |
| Average age | 45 | 45 |
| Gender ratio | Male, 77.4% Female, 22.6% | Male, 43.2% Female, 56.8% |
| 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, 63.4% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 8% | 8% |