Explore jobs
Find specific jobs
Explore careers
Explore professions
Best companies
Explore companies
The differences between bank officers and commercial 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 a bank officer and a commercial loan officer. Additionally, a bank officer has an average salary of $79,562, which is higher than the $70,876 average annual salary of a commercial loan officer.
The top three skills for a bank officer include customer service, real estate and business development. The most important skills for a commercial loan officer are customer service, loan portfolio, and financial statements.
| Bank Officer | Commercial Loan Officer | |
| Yearly salary | $79,562 | $70,876 |
| Hourly rate | $38.25 | $34.08 |
| Growth rate | 4% | 4% |
| Number of jobs | 69,880 | 91,582 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 76% |
| Average age | 45 | 45 |
| Years of experience | 6 | 6 |
A bank officer is in charge of overseeing the daily operations at banking establishments, ensuring efficiency and client satisfaction. Their responsibilities include gathering and analyzing requests, approving and denying loan applications, providing consultations, processing client requests, and producing progress reports. There are also instances where they sign important documents, delegate tasks, and resolve issues and concerns. Moreover, as a bank officer, it is essential to lead and encourage staff to reach goals, all while implementing the company's policies and regulations.
Commercial loan officers are financial professionals who are responsible for assessing and processing business loan applications at financial institutions. These loan officers must advise clients about their suitable loan and credit options while consulting with managers on credit policies, credit lines, and procedures. They are required to obtain and assess the financial information of applicants that includes their financial statements and credit histories. Commercial loan officers must also collaborate with other financial institutions to set up loan packages for extensive loans.
Bank officers and commercial loan officers have different pay scales, as shown below.
| Bank Officer | Commercial Loan Officer | |
| Average salary | $79,562 | $70,876 |
| Salary range | Between $57,000 And $110,000 | Between $50,000 And $100,000 |
| Highest paying City | Bangor, ME | Fort Lee, NJ |
| Highest paying state | Maine | Maine |
| Best paying company | Federal Reserve Bank | Glacier Ban |
| Best paying industry | Finance | Finance |
There are a few differences between a bank officer and a commercial loan officer in terms of educational background:
| Bank Officer | Commercial Loan Officer | |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 76% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between bank officers' and commercial loan officers' demographics:
| Bank Officer | Commercial Loan Officer | |
| Average age | 45 | 45 |
| Gender ratio | Male, 50.8% Female, 49.2% | Male, 73.8% Female, 26.2% |
| Race ratio | Black or African American, 9.2% Unknown, 4.6% Hispanic or Latino, 16.0% Asian, 6.4% White, 63.3% American Indian and Alaska Native, 0.5% | Black or African American, 9.3% Unknown, 4.6% Hispanic or Latino, 15.5% Asian, 6.5% White, 63.6% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 8% | 8% |