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The differences between bank 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 a bank officer and a loan analyst. Additionally, a bank officer has an average salary of $79,562, which is higher than the $37,857 average annual salary of a loan analyst.
The top three skills for a bank officer include customer service, real estate and business development. The most important skills for a loan analyst are loan documentation, customer service, and real estate.
| Bank Officer | Loan Analyst | |
| Yearly salary | $79,562 | $37,857 |
| Hourly rate | $38.25 | $18.20 |
| Growth rate | 4% | 4% |
| Number of jobs | 69,880 | 24,756 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 66% |
| 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 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.
Bank officers and loan analysts have different pay scales, as shown below.
| Bank Officer | Loan Analyst | |
| Average salary | $79,562 | $37,857 |
| Salary range | Between $57,000 And $110,000 | Between $24,000 And $58,000 |
| Highest paying City | Bangor, ME | Raleigh, NC |
| Highest paying state | Maine | South Dakota |
| Best paying company | Federal Reserve Bank | Barclays |
| Best paying industry | Finance | Finance |
There are a few differences between a bank officer and a loan analyst in terms of educational background:
| Bank Officer | Loan Analyst | |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 66% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between bank officers' and loan analysts' demographics:
| Bank Officer | Loan Analyst | |
| Average age | 45 | 45 |
| Gender ratio | Male, 50.8% Female, 49.2% | Male, 43.2% Female, 56.8% |
| 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, 9.2% 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% |