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The differences between branch lending officers and senior 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 branch lending officer and a senior loan officer. Additionally, a branch lending officer has an average salary of $46,615, which is higher than the $37,162 average annual salary of a senior loan officer.
The top three skills for a branch lending officer include business relationships, origination and FHA. The most important skills for a senior loan officer are customer service, loan applications, and origination.
| Branch Lending Officer | Senior Loan Officer | |
| Yearly salary | $46,615 | $37,162 |
| Hourly rate | $22.41 | $17.87 |
| Growth rate | 4% | 4% |
| Number of jobs | 70,689 | 65,807 |
| 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 senior loan officer is responsible for authorizing loan applications after evaluating the applicant's loan eligibility upon submitting documents and other requirements. Senior loan officers assist the loan staff for the approval or rejection of the application, providing alternatives for the applicants based on their credibility. They monitor the loan process, create loan contracts, ensuring that the payment plans meet the federal laws and regulations. A senior loan officer must have extensive knowledge of the financial industry to prepare proposals timely and accurately.
Branch lending officers and senior loan officers have different pay scales, as shown below.
| Branch Lending Officer | Senior Loan Officer | |
| Average salary | $46,615 | $37,162 |
| Salary range | Between $29,000 And $73,000 | Between $29,000 And $46,000 |
| Highest paying City | Saint Cloud, MN | Miami, FL |
| Highest paying state | New Mexico | Hawaii |
| Best paying company | Citi | Salal Credit Union |
| Best paying industry | Finance | Finance |
There are a few differences between a branch lending officer and a senior loan officer in terms of educational background:
| Branch Lending Officer | Senior Loan Officer | |
| 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 senior loan officers' demographics:
| Branch Lending Officer | Senior Loan Officer | |
| Average age | 45 | 45 |
| Gender ratio | Male, 60.0% Female, 40.0% | Male, 69.4% Female, 30.6% |
| 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, 4.6% Hispanic or Latino, 15.9% Asian, 6.4% White, 63.4% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 8% | 8% |