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The differences between business banking officers and commercial 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 business banking officer and a commercial loan officer. Additionally, a business banking officer has an average salary of $77,195, which is higher than the $70,876 average annual salary of a commercial loan officer.
The top three skills for a business banking officer include business development, customer relationships and customer service. The most important skills for a commercial loan officer are customer service, loan portfolio, and financial statements.
| Business Banking Officer | Commercial Loan Officer | |
| Yearly salary | $77,195 | $70,876 |
| Hourly rate | $37.11 | $34.08 |
| Growth rate | 4% | 4% |
| Number of jobs | 110,616 | 91,582 |
| Job satisfaction | 4 | - |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 76% |
| Average age | 45 | 45 |
| Years of experience | 6 | 6 |
A business banking officer is primarily in charge of liaising with clients, ensuring they get to receive prompt and efficient service. Among their responsibilities include identifying the clients' needs, answering inquiries, recommending other services, and addressing issues and concerns, resolving them in a timely manner. Moreover, a business banking officer may also devise networking strategies to identify new business or client opportunities. Above all, it is essential to build positive relationships with clients and adhere to the company's policies and regulations.
Commercial loan officers are financial professionals who are responsible for assessing and processing business loan applications at financial institutions. These loan officers must advise clients about their suitable loan and credit options while consulting with managers on credit policies, credit lines, and procedures. They are required to obtain and assess the financial information of applicants that includes their financial statements and credit histories. Commercial loan officers must also collaborate with other financial institutions to set up loan packages for extensive loans.
Business banking officers and commercial loan officers have different pay scales, as shown below.
| Business Banking Officer | Commercial Loan Officer | |
| Average salary | $77,195 | $70,876 |
| Salary range | Between $51,000 And $115,000 | Between $50,000 And $100,000 |
| Highest paying City | New York, NY | Fort Lee, NJ |
| Highest paying state | New York | Maine |
| Best paying company | Takeda Pharmaceuticals U.S.A., Inc. | Glacier Ban |
| Best paying industry | Finance | Finance |
There are a few differences between a business banking officer and a commercial loan officer in terms of educational background:
| Business Banking Officer | Commercial Loan Officer | |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 76% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between business banking officers' and commercial loan officers' demographics:
| Business Banking Officer | Commercial Loan Officer | |
| Average age | 45 | 45 |
| Gender ratio | Male, 57.8% Female, 42.2% | Male, 73.8% Female, 26.2% |
| Race ratio | 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% | Black or African American, 9.3% Unknown, 4.6% Hispanic or Latino, 15.5% Asian, 6.5% White, 63.6% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 8% | 8% |