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The differences between agricultural loan officers and 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 loan officer. Additionally, a loan officer has an average salary of $45,817, 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 loan officer are customer service, origination, and loan origination.
| Agricultural Loan Officer | Loan Officer | |
| Yearly salary | $43,755 | $45,817 |
| Hourly rate | $21.04 | $22.03 |
| Growth rate | 4% | 4% |
| Number of jobs | 65,430 | 63,663 |
| Job satisfaction | - | 4.5 |
| Most common degree | Bachelor's Degree, 65% | Bachelor's Degree, 61% |
| 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.
Loan officers are responsible for assisting borrowers on the best type of loans to avail and guiding the clients throughout the application process. A loan officer must be highly knowledgeable about different lending products, payment plans, loan regulations, and essential files for fast loan approval. Loan officers also act as the first point of contact, conducting an initial screening of the customers, process loan contracts and appropriate documentation, update account records, and respond to customer's inquiries. A loan officer also has the right to reject loan applicants who do not meet loan qualifications.
Agricultural loan officers and loan officers have different pay scales, as shown below.
| Agricultural Loan Officer | Loan Officer | |
| Average salary | $43,755 | $45,817 |
| Salary range | Between $29,000 And $65,000 | Between $30,000 And $69,000 |
| Highest paying City | San Bernardino, CA | New York, NY |
| Highest paying state | New York | New York |
| Best paying company | GPAC | Bangor Savings Bank |
| Best paying industry | - | Finance |
There are a few differences between an agricultural loan officer and a loan officer in terms of educational background:
| Agricultural Loan Officer | Loan Officer | |
| Most common degree | Bachelor's Degree, 65% | Bachelor's Degree, 61% |
| Most common major | Agriculture | Business |
| Most common college | Pennsylvania State University | University of Pennsylvania |
Here are the differences between agricultural loan officers' and loan officers' demographics:
| Agricultural Loan Officer | Loan Officer | |
| Average age | 45 | 45 |
| Gender ratio | Male, 77.4% Female, 22.6% | Male, 55.3% Female, 44.7% |
| 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, 9.0% Unknown, 4.6% Hispanic or Latino, 15.7% Asian, 6.3% White, 63.9% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 8% | 8% |