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The differences between commercial credit analysts and loan analysts 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 loan analyst takes usually requires 4-6 years. Additionally, a commercial credit analyst has an average salary of $66,482, which is higher than the $37,857 average annual salary of a loan analyst.
The top three skills for a commercial credit analyst include credit analysis, customer service and strong analytical. The most important skills for a loan analyst are loan documentation, customer service, and real estate.
| Commercial Credit Analyst | Loan Analyst | |
| Yearly salary | $66,482 | $37,857 |
| Hourly rate | $31.96 | $18.20 |
| Growth rate | 4% | 4% |
| Number of jobs | 42,862 | 24,756 |
| 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 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.
Commercial credit analysts and loan analysts have different pay scales, as shown below.
| Commercial Credit Analyst | Loan Analyst | |
| Average salary | $66,482 | $37,857 |
| Salary range | Between $46,000 And $94,000 | Between $24,000 And $58,000 |
| Highest paying City | Burlingame, CA | Raleigh, NC |
| Highest paying state | California | South Dakota |
| Best paying company | HSBC Bank | Barclays |
| Best paying industry | Automotive | Finance |
There are a few differences between a commercial credit analyst and a loan analyst in terms of educational background:
| Commercial Credit Analyst | Loan Analyst | |
| 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 loan analysts' demographics:
| Commercial Credit Analyst | Loan Analyst | |
| Average age | 39 | 45 |
| Gender ratio | Male, 61.6% Female, 38.4% | Male, 43.2% Female, 56.8% |
| 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, 63.4% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 11% | 8% |