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The differences between commercial credit analysts and consumer loan underwriters 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 consumer loan underwriter takes usually requires 4-6 years. Additionally, a commercial credit analyst has an average salary of $66,482, which is higher than the $53,525 average annual salary of a consumer loan underwriter.
The top three skills for a commercial credit analyst include credit analysis, customer service and strong analytical. The most important skills for a consumer loan underwriter are financial statements, loan applications, and strong analytical.
| Commercial Credit Analyst | Consumer Loan Underwriter | |
| Yearly salary | $66,482 | $53,525 |
| Hourly rate | $31.96 | $25.73 |
| Growth rate | 4% | 4% |
| Number of jobs | 42,862 | 17,495 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 80% | Bachelor's Degree, 66% |
| 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.
A consumer loan underwriter, or often known as a loan officer, is a financial professional who works at a credit union or other financial institution to approve or disapprove loans to clients. Consumer loan underwriters must review and verify the information provided by loan applicants and then decide on approving or denying a loan according to the policies of the institution. They must determine maximum loss potential by identifying all loans that are associated with a borrower where fraud may have occurred. Consumer loan underwriters must also demonstrate experience in underwriting conventional and FHA loans.
Commercial credit analysts and consumer loan underwriters have different pay scales, as shown below.
| Commercial Credit Analyst | Consumer Loan Underwriter | |
| Average salary | $66,482 | $53,525 |
| Salary range | Between $46,000 And $94,000 | Between $37,000 And $76,000 |
| Highest paying City | Burlingame, CA | New York, NY |
| Highest paying state | California | New York |
| Best paying company | HSBC Bank | Marcus & Millichap |
| Best paying industry | Automotive | Finance |
There are a few differences between a commercial credit analyst and a consumer loan underwriter in terms of educational background:
| Commercial Credit Analyst | Consumer Loan Underwriter | |
| Most common degree | Bachelor's Degree, 80% | Bachelor's Degree, 66% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between commercial credit analysts' and consumer loan underwriters' demographics:
| Commercial Credit Analyst | Consumer Loan Underwriter | |
| Average age | 39 | 45 |
| Gender ratio | Male, 61.6% Female, 38.4% | Male, 42.6% Female, 57.4% |
| 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, 9.2% Unknown, 4.6% Hispanic or Latino, 15.9% Asian, 6.4% White, 63.5% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 11% | 8% |