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The differences between bank officers and underwriters can be seen in a few details. Each job has different responsibilities and duties. Additionally, a bank officer has an average salary of $79,562, which is higher than the $61,751 average annual salary of an underwriter.
The top three skills for a bank officer include customer service, real estate and business development. The most important skills for an underwriter are customer service, investor guidelines, and mortgage loans.
| Bank Officer | Underwriter | |
| Yearly salary | $79,562 | $61,751 |
| Hourly rate | $38.25 | $29.69 |
| Growth rate | 4% | -4% |
| Number of jobs | 69,880 | 8,510 |
| Job satisfaction | - | 3 |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 66% |
| Average age | 45 | 44 |
| Years of experience | 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.
An underwriter's duties depend on the line of work or industry involved, such as mortgage companies, insurance, or lending firms. However, an Underwriter's responsibility will mainly revolve around using their extensive expertise on how a company will achieve financial gains, and assessing the possible financial risks of a client by reviewing various aspects to determine their capacity to uphold monetary obligations. Most of the time, the Underwriter's tasks will also involve evaluating a client's credit history, health, assets, overall financial history.
Bank officers and underwriters have different pay scales, as shown below.
| Bank Officer | Underwriter | |
| Average salary | $79,562 | $61,751 |
| Salary range | Between $57,000 And $110,000 | Between $39,000 And $96,000 |
| Highest paying City | Bangor, ME | Boston, MA |
| Highest paying state | Maine | Massachusetts |
| Best paying company | Federal Reserve Bank | |
| Best paying industry | Finance | Manufacturing |
There are a few differences between a bank officer and an underwriter in terms of educational background:
| Bank Officer | Underwriter | |
| 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 underwriters' demographics:
| Bank Officer | Underwriter | |
| Average age | 45 | 44 |
| Gender ratio | Male, 50.8% Female, 49.2% | Male, 38.4% Female, 61.6% |
| 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, 2.5% Hispanic or Latino, 9.6% Asian, 5.6% White, 72.7% American Indian and Alaska Native, 0.4% |
| LGBT Percentage | 8% | 9% |