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The differences between agricultural loan officers and mortgage bankers 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 mortgage banker. Additionally, an agricultural loan officer has an average salary of $43,755, which is higher than the $27,331 average annual salary of a mortgage banker.
The top three skills for an agricultural loan officer include loan portfolio, financial statements and loan committee. The most important skills for a mortgage banker are customer service, NMLS, and federal regulations.
| Agricultural Loan Officer | Mortgage Banker | |
| Yearly salary | $43,755 | $27,331 |
| Hourly rate | $21.04 | $13.14 |
| Growth rate | 4% | 4% |
| Number of jobs | 65,430 | 24,297 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 65% | Bachelor's Degree, 72% |
| 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 Mortgage Banker is specialized in offering financing to buy homes or refinance previous mortgages. They work as part of a banks loan department.
Agricultural loan officers and mortgage bankers have different pay scales, as shown below.
| Agricultural Loan Officer | Mortgage Banker | |
| Average salary | $43,755 | $27,331 |
| Salary range | Between $29,000 And $65,000 | Between $9,000 And $78,000 |
| Highest paying City | San Bernardino, CA | - |
| Highest paying state | New York | - |
| Best paying company | GPAC | - |
| Best paying industry | - | - |
There are a few differences between an agricultural loan officer and a mortgage banker in terms of educational background:
| Agricultural Loan Officer | Mortgage Banker | |
| Most common degree | Bachelor's Degree, 65% | Bachelor's Degree, 72% |
| Most common major | Agriculture | Business |
| Most common college | Pennsylvania State University | University of Pennsylvania |
Here are the differences between agricultural loan officers' and mortgage bankers' demographics:
| Agricultural Loan Officer | Mortgage Banker | |
| Average age | 45 | 45 |
| Gender ratio | Male, 77.4% Female, 22.6% | Male, 71.7% Female, 28.3% |
| 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, 9.5% Unknown, 4.7% Hispanic or Latino, 15.7% Asian, 6.5% White, 63.2% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 8% | 8% |