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The differences between business banking officers and credit officers can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 4-6 years to become a business banking officer, becoming a credit officer takes usually requires 1-2 years. Additionally, a credit officer has an average salary of $129,478, which is higher than the $77,195 average annual salary of a business banking officer.
The top three skills for a business banking officer include business development, customer relationships and customer service. The most important skills for a credit officer are risk management, credit risk, and credit analysis.
| Business Banking Officer | Credit Officer | |
| Yearly salary | $77,195 | $129,478 |
| Hourly rate | $37.11 | $62.25 |
| Growth rate | 4% | 17% |
| Number of jobs | 110,616 | 60,323 |
| Job satisfaction | 4 | - |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 69% |
| Average age | 45 | 39 |
| Years of experience | 6 | 2 |
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.
A credit officer is responsible for evaluating financial documents and account statements to determine the eligibility of an applicant for a loan option. Credit officers communicate with the applicant to discuss the loan process, explain the terms of service, and provide them alternative options that would fit their payment ability and loan needs. They create financial reports and recommend the qualified applicant to the manager for approval. A credit officer should have excellent communication and analytical skills, ensuring that the loan policies adhere to the federal and state regulations.
Business banking officers and credit officers have different pay scales, as shown below.
| Business Banking Officer | Credit Officer | |
| Average salary | $77,195 | $129,478 |
| Salary range | Between $51,000 And $115,000 | Between $85,000 And $196,000 |
| Highest paying City | New York, NY | New York, NY |
| Highest paying state | New York | New York |
| Best paying company | Takeda Pharmaceuticals U.S.A., Inc. | Farm Credit System |
| Best paying industry | Finance | Finance |
There are a few differences between a business banking officer and a credit officer in terms of educational background:
| Business Banking Officer | Credit Officer | |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 69% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between business banking officers' and credit officers' demographics:
| Business Banking Officer | Credit Officer | |
| Average age | 45 | 39 |
| Gender ratio | Male, 57.8% Female, 42.2% | Male, 64.4% Female, 35.6% |
| 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, 8.0% Unknown, 2.7% Hispanic or Latino, 9.7% Asian, 10.7% White, 68.6% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 8% | 11% |