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The differences between business banking officers and loan administrators 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 loan administrator. Additionally, a business banking officer has an average salary of $77,195, which is higher than the $42,859 average annual salary of a loan administrator.
The top three skills for a business banking officer include business development, customer relationships and customer service. The most important skills for a loan administrator are customer service, data entry, and loan administration.
| Business Banking Officer | Loan Administrator | |
| Yearly salary | $77,195 | $42,859 |
| Hourly rate | $37.11 | $20.61 |
| Growth rate | 4% | 4% |
| Number of jobs | 110,616 | 63,708 |
| Job satisfaction | 4 | - |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 58% |
| 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.
A Loan Administrator is a person that takes care of all the documentation part of the loan process. Loans require a lot of documents and requirements, and a loan administrator is a person that helps the client accomplish all these requirements. It is also their job to help clients resolve issues and problems during the loan process. A Loan Administrator is a crucial and hectic job. The one qualified for this position must be good at handling pressure, be good at resolving issues, handle complaints, and communicate with people.
Business banking officers and loan administrators have different pay scales, as shown below.
| Business Banking Officer | Loan Administrator | |
| Average salary | $77,195 | $42,859 |
| Salary range | Between $51,000 And $115,000 | Between $31,000 And $59,000 |
| Highest paying City | New York, NY | Seattle, WA |
| Highest paying state | New York | Hawaii |
| Best paying company | Takeda Pharmaceuticals U.S.A., Inc. | BNY Mellon |
| Best paying industry | Finance | Finance |
There are a few differences between a business banking officer and a loan administrator in terms of educational background:
| Business Banking Officer | Loan Administrator | |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 58% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between business banking officers' and loan administrators' demographics:
| Business Banking Officer | Loan Administrator | |
| Average age | 45 | 45 |
| Gender ratio | Male, 57.8% Female, 42.2% | Male, 23.2% Female, 76.8% |
| 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, 16.2% Asian, 6.4% White, 63.0% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 8% | 8% |