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The differences between bank officers and loan administrators 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 loan administrator. Additionally, a bank officer has an average salary of $79,562, which is higher than the $42,859 average annual salary of a loan administrator.
The top three skills for a bank officer include customer service, real estate and business development. The most important skills for a loan administrator are customer service, data entry, and loan administration.
| Bank Officer | Loan Administrator | |
| Yearly salary | $79,562 | $42,859 |
| Hourly rate | $38.25 | $20.61 |
| Growth rate | 4% | 4% |
| Number of jobs | 69,880 | 63,708 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 58% |
| 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.
A Loan Administrator is a person that takes care of all the documentation part of the loan process. Loans require a lot of documents and requirements, and a loan administrator is a person that helps the client accomplish all these requirements. It is also their job to help clients resolve issues and problems during the loan process. A Loan Administrator is a crucial and hectic job. The one qualified for this position must be good at handling pressure, be good at resolving issues, handle complaints, and communicate with people.
Bank officers and loan administrators have different pay scales, as shown below.
| Bank Officer | Loan Administrator | |
| Average salary | $79,562 | $42,859 |
| Salary range | Between $57,000 And $110,000 | Between $31,000 And $59,000 |
| Highest paying City | Bangor, ME | Seattle, WA |
| Highest paying state | Maine | Hawaii |
| Best paying company | Federal Reserve Bank | BNY Mellon |
| Best paying industry | Finance | Finance |
There are a few differences between a bank officer and a loan administrator in terms of educational background:
| Bank Officer | Loan Administrator | |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 58% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between bank officers' and loan administrators' demographics:
| Bank Officer | Loan Administrator | |
| Average age | 45 | 45 |
| Gender ratio | Male, 50.8% Female, 49.2% | Male, 23.2% Female, 76.8% |
| 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, 16.2% Asian, 6.4% White, 63.0% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 8% | 8% |