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The differences between credit administrators and credit officers can be seen in a few details. Each job has different responsibilities and duties. It typically takes 1-2 years to become both a credit administrator and a credit officer. Additionally, a credit officer has an average salary of $129,478, which is higher than the $59,271 average annual salary of a credit administrator.
The top three skills for a credit administrator include financial statements, credit card payments and real estate. The most important skills for a credit officer are risk management, credit risk, and credit analysis.
| Credit Administrator | Credit Officer | |
| Yearly salary | $59,271 | $129,478 |
| Hourly rate | $28.50 | $62.25 |
| Growth rate | -8% | 17% |
| Number of jobs | 55,726 | 60,323 |
| Job satisfaction | 2 | - |
| Most common degree | Bachelor's Degree, 63% | Bachelor's Degree, 69% |
| Average age | 39 | 39 |
| Years of experience | 2 | 2 |
A credit administrator oversees the credit operations in a company, ensuring efficiency and client satisfaction. They typically conduct research and analysis, handle credit portfolios, perform credit risk assessments, monitor credit accounts, validate requirements, evaluate applications, and develop strategies to optimize operations. A credit administrator may also perform a variety of clerical tasks such as preparing and processing documents, answering calls and correspondence, organizing information, and maintaining records. Moreover, they must lead and encourage staff to reach goals, all while enforcing and promoting the company's policies and regulations.
A credit officer is responsible for evaluating financial documents and account statements to determine the eligibility of an applicant for a loan option. Credit officers communicate with the applicant to discuss the loan process, explain the terms of service, and provide them alternative options that would fit their payment ability and loan needs. They create financial reports and recommend the qualified applicant to the manager for approval. A credit officer should have excellent communication and analytical skills, ensuring that the loan policies adhere to the federal and state regulations.
Credit administrators and credit officers have different pay scales, as shown below.
| Credit Administrator | Credit Officer | |
| Average salary | $59,271 | $129,478 |
| Salary range | Between $33,000 And $106,000 | Between $85,000 And $196,000 |
| Highest paying City | New York, NY | New York, NY |
| Highest paying state | New York | New York |
| Best paying company | BNY Mellon | Farm Credit System |
| Best paying industry | - | Finance |
There are a few differences between a credit administrator and a credit officer in terms of educational background:
| Credit Administrator | Credit Officer | |
| Most common degree | Bachelor's Degree, 63% | Bachelor's Degree, 69% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between credit administrators' and credit officers' demographics:
| Credit Administrator | Credit Officer | |
| Average age | 39 | 39 |
| Gender ratio | Male, 28.4% Female, 71.6% | Male, 64.4% Female, 35.6% |
| Race ratio | Black or African American, 8.1% Unknown, 2.7% Hispanic or Latino, 10.0% Asian, 9.4% White, 69.5% American Indian and Alaska Native, 0.3% | Black or African American, 8.0% Unknown, 2.7% Hispanic or Latino, 9.7% Asian, 10.7% White, 68.6% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 11% | 11% |