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The differences between commercial bankers 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 commercial banker and a commercial loan officer. Additionally, a commercial banker has an average salary of $78,697, which is higher than the $70,876 average annual salary of a commercial loan officer.
The top three skills for a commercial banker include customer service, business development and treasury. The most important skills for a commercial loan officer are customer service, loan portfolio, and financial statements.
| Commercial Banker | Commercial Loan Officer | |
| Yearly salary | $78,697 | $70,876 |
| Hourly rate | $37.84 | $34.08 |
| Growth rate | 4% | 4% |
| Number of jobs | 45,270 | 91,582 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 77% | Bachelor's Degree, 76% |
| Average age | 45 | 45 |
| Years of experience | 6 | 6 |
A commercial banker is responsible for providing financial advice and selling financial instruments to corporate clients according to their business needs and specifications. Commercial bankers process the opening and registration of corporate client accounts, updating the clients with current financial services, and resolving account disputes. They also manage investment options and identify opportunities that would help the bank gain more prospective clients that would increase the company's revenues and profitability. A commercial banker must have excellent knowledge of the banking industry to determine banking solutions for clients for their best interests.
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.
Commercial bankers and commercial loan officers have different pay scales, as shown below.
| Commercial Banker | Commercial Loan Officer | |
| Average salary | $78,697 | $70,876 |
| Salary range | Between $51,000 And $121,000 | Between $50,000 And $100,000 |
| Highest paying City | Seattle, WA | Fort Lee, NJ |
| Highest paying state | New Mexico | Maine |
| Best paying company | Northern Trust | Glacier Ban |
| Best paying industry | Finance | Finance |
There are a few differences between a commercial banker and a commercial loan officer in terms of educational background:
| Commercial Banker | Commercial Loan Officer | |
| Most common degree | Bachelor's Degree, 77% | Bachelor's Degree, 76% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between commercial bankers' and commercial loan officers' demographics:
| Commercial Banker | Commercial Loan Officer | |
| Average age | 45 | 45 |
| Gender ratio | Male, 63.5% Female, 36.5% | Male, 73.8% Female, 26.2% |
| Race ratio | Black or African American, 9.7% Unknown, 4.7% Hispanic or Latino, 14.7% Asian, 6.6% White, 63.8% 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% |