Explore jobs
Find specific jobs
Explore careers
Explore professions
Best companies
Explore companies
The differences between commercial mortgage brokers and 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 mortgage broker and a loan officer. Additionally, a commercial mortgage broker has an average salary of $126,099, which is higher than the $45,817 average annual salary of a loan officer.
The top three skills for a commercial mortgage broker include real estate transactions, lenders and commercial property. The most important skills for a loan officer are customer service, origination, and loan origination.
| Commercial Mortgage Broker | Loan Officer | |
| Yearly salary | $126,099 | $45,817 |
| Hourly rate | $60.62 | $22.03 |
| Growth rate | 4% | 4% |
| Number of jobs | 31,820 | 63,663 |
| Job satisfaction | - | 4.5 |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 61% |
| Average age | 45 | 45 |
| Years of experience | 6 | 6 |
Commercial mortgage brokers and loan officers have different pay scales, as shown below.
| Commercial Mortgage Broker | Loan Officer | |
| Average salary | $126,099 | $45,817 |
| Salary range | Between $89,000 And $176,000 | Between $30,000 And $69,000 |
| Highest paying City | - | New York, NY |
| Highest paying state | - | New York |
| Best paying company | - | Bangor Savings Bank |
| Best paying industry | - | Finance |
There are a few differences between a commercial mortgage broker and a loan officer in terms of educational background:
| Commercial Mortgage Broker | Loan Officer | |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 61% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between commercial mortgage brokers' and loan officers' demographics:
| Commercial Mortgage Broker | Loan Officer | |
| Average age | 45 | 45 |
| Gender ratio | Male, 77.2% Female, 22.8% | Male, 55.3% Female, 44.7% |
| Race ratio | Black or African American, 9.3% Unknown, 4.6% Hispanic or Latino, 16.1% Asian, 6.4% White, 63.1% American Indian and Alaska Native, 0.5% | Black or African American, 9.0% Unknown, 4.6% Hispanic or Latino, 15.7% Asian, 6.3% White, 63.9% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 8% | 8% |