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The differences between business banking officers and underwriters can be seen in a few details. Each job has different responsibilities and duties. Additionally, a business banking officer has an average salary of $77,195, which is higher than the $61,751 average annual salary of an underwriter.
The top three skills for a business banking officer include business development, customer relationships and customer service. The most important skills for an underwriter are customer service, investor guidelines, and mortgage loans.
| Business Banking Officer | Underwriter | |
| Yearly salary | $77,195 | $61,751 |
| Hourly rate | $37.11 | $29.69 |
| Growth rate | 4% | -4% |
| Number of jobs | 110,616 | 8,510 |
| Job satisfaction | 4 | 3 |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 66% |
| Average age | 45 | 44 |
| Years of experience | 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.
An underwriter's duties depend on the line of work or industry involved, such as mortgage companies, insurance, or lending firms. However, an Underwriter's responsibility will mainly revolve around using their extensive expertise on how a company will achieve financial gains, and assessing the possible financial risks of a client by reviewing various aspects to determine their capacity to uphold monetary obligations. Most of the time, the Underwriter's tasks will also involve evaluating a client's credit history, health, assets, overall financial history.
Business banking officers and underwriters have different pay scales, as shown below.
| Business Banking Officer | Underwriter | |
| Average salary | $77,195 | $61,751 |
| Salary range | Between $51,000 And $115,000 | Between $39,000 And $96,000 |
| Highest paying City | New York, NY | Boston, MA |
| Highest paying state | New York | Massachusetts |
| Best paying company | Takeda Pharmaceuticals U.S.A., Inc. | |
| Best paying industry | Finance | Manufacturing |
There are a few differences between a business banking officer and an underwriter in terms of educational background:
| Business Banking Officer | Underwriter | |
| 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 underwriters' demographics:
| Business Banking Officer | Underwriter | |
| Average age | 45 | 44 |
| Gender ratio | Male, 57.8% Female, 42.2% | Male, 38.4% Female, 61.6% |
| 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, 9.2% Unknown, 2.5% Hispanic or Latino, 9.6% Asian, 5.6% White, 72.7% American Indian and Alaska Native, 0.4% |
| LGBT Percentage | 8% | 9% |