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The differences between commercial credit analysts and commercial loan officers can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 1-2 years to become a commercial credit analyst, becoming a commercial loan officer takes usually requires 4-6 years. Additionally, a commercial loan officer has an average salary of $70,876, which is higher than the $66,482 average annual salary of a commercial credit analyst.
The top three skills for a commercial credit analyst include credit analysis, customer service and strong analytical. The most important skills for a commercial loan officer are customer service, loan portfolio, and financial statements.
| Commercial Credit Analyst | Commercial Loan Officer | |
| Yearly salary | $66,482 | $70,876 |
| Hourly rate | $31.96 | $34.08 |
| Growth rate | 4% | 4% |
| Number of jobs | 42,862 | 91,582 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 80% | Bachelor's Degree, 76% |
| Average age | 39 | 45 |
| Years of experience | 2 | 6 |
A commercial credit analyst is primarily in charge of assessing a client's credit or loan application, ensuring that they are fit to uphold financial obligations. Their responsibilities typically revolve around coordinating different departments to gather necessary client data, reviewing financial histories, verifying the authenticity of requirements, and developing financial profiles. Moreover, a commercial credit analyst may perform research and analysis to identify new business opportunities, produce progress and sales reports, monitor the payment progress of clients, and maintain a record of all transactions.
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 credit analysts and commercial loan officers have different pay scales, as shown below.
| Commercial Credit Analyst | Commercial Loan Officer | |
| Average salary | $66,482 | $70,876 |
| Salary range | Between $46,000 And $94,000 | Between $50,000 And $100,000 |
| Highest paying City | Burlingame, CA | Fort Lee, NJ |
| Highest paying state | California | Maine |
| Best paying company | HSBC Bank | Glacier Ban |
| Best paying industry | Automotive | Finance |
There are a few differences between a commercial credit analyst and a commercial loan officer in terms of educational background:
| Commercial Credit Analyst | Commercial Loan Officer | |
| Most common degree | Bachelor's Degree, 80% | Bachelor's Degree, 76% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between commercial credit analysts' and commercial loan officers' demographics:
| Commercial Credit Analyst | Commercial Loan Officer | |
| Average age | 39 | 45 |
| Gender ratio | Male, 61.6% Female, 38.4% | Male, 73.8% Female, 26.2% |
| Race ratio | Black or African American, 7.9% Unknown, 2.7% Hispanic or Latino, 9.6% Asian, 10.5% White, 69.0% American Indian and Alaska Native, 0.3% | 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 | 11% | 8% |