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The differences between branch lending 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 branch lending officer and a loan analyst. Additionally, a branch lending officer has an average salary of $46,615, which is higher than the $37,857 average annual salary of a loan analyst.
The top three skills for a branch lending officer include business relationships, origination and FHA. The most important skills for a loan analyst are loan documentation, customer service, and real estate.
| Branch Lending Officer | Loan Analyst | |
| Yearly salary | $46,615 | $37,857 |
| Hourly rate | $22.41 | $18.20 |
| Growth rate | 4% | 4% |
| Number of jobs | 70,689 | 24,756 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 66% |
| Average age | 45 | 45 |
| Years of experience | 6 | 6 |
A branch lending officer is typically in charge of processing loan applications, ensuring accuracy and smooth workflow. Their responsibilities revolve around liaising with clients to identify their needs, conducting interviews and assessments, gathering and reviewing requirements, and coordinating with analysts and other staff. They may also perform clerical tasks such as answering calls and correspondence, arranging appointments, and maintaining records of all transactions. Furthermore, as a branch lending officer, it is essential to provide efficient customer service, all while adhering to the company's policies and regulations, including its vision and mission.
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.
Branch lending officers and loan analysts have different pay scales, as shown below.
| Branch Lending Officer | Loan Analyst | |
| Average salary | $46,615 | $37,857 |
| Salary range | Between $29,000 And $73,000 | Between $24,000 And $58,000 |
| Highest paying City | Saint Cloud, MN | Raleigh, NC |
| Highest paying state | New Mexico | South Dakota |
| Best paying company | Citi | Barclays |
| Best paying industry | Finance | Finance |
There are a few differences between a branch lending officer and a loan analyst in terms of educational background:
| Branch Lending Officer | Loan Analyst | |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 66% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between branch lending officers' and loan analysts' demographics:
| Branch Lending Officer | Loan Analyst | |
| Average age | 45 | 45 |
| Gender ratio | Male, 60.0% Female, 40.0% | 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% |