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The differences between business banking 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 business banking officer and a loan analyst. Additionally, a business banking officer has an average salary of $77,195, which is higher than the $37,857 average annual salary of a loan analyst.
The top three skills for a business banking officer include business development, customer relationships and customer service. The most important skills for a loan analyst are loan documentation, customer service, and real estate.
| Business Banking Officer | Loan Analyst | |
| Yearly salary | $77,195 | $37,857 |
| Hourly rate | $37.11 | $18.20 |
| Growth rate | 4% | 4% |
| Number of jobs | 110,616 | 24,756 |
| Job satisfaction | 4 | - |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 66% |
| 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 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.
Business banking officers and loan analysts have different pay scales, as shown below.
| Business Banking Officer | Loan Analyst | |
| Average salary | $77,195 | $37,857 |
| Salary range | Between $51,000 And $115,000 | Between $24,000 And $58,000 |
| Highest paying City | New York, NY | Raleigh, NC |
| Highest paying state | New York | South Dakota |
| Best paying company | Takeda Pharmaceuticals U.S.A., Inc. | Barclays |
| Best paying industry | Finance | Finance |
There are a few differences between a business banking officer and a loan analyst in terms of educational background:
| Business Banking Officer | Loan Analyst | |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 66% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between business banking officers' and loan analysts' demographics:
| Business Banking Officer | Loan Analyst | |
| Average age | 45 | 45 |
| Gender ratio | Male, 57.8% Female, 42.2% | Male, 43.2% Female, 56.8% |
| 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, 9.2% 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% |