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The differences between credit administrators 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 credit administrator, becoming a loan analyst takes usually requires 4-6 years. Additionally, a credit administrator has an average salary of $59,271, which is higher than the $37,857 average annual salary of a loan analyst.
The top three skills for a credit administrator include financial statements, credit card payments and real estate. The most important skills for a loan analyst are loan documentation, customer service, and real estate.
| Credit Administrator | Loan Analyst | |
| Yearly salary | $59,271 | $37,857 |
| Hourly rate | $28.50 | $18.20 |
| Growth rate | -8% | 4% |
| Number of jobs | 55,726 | 24,756 |
| Job satisfaction | 2 | - |
| Most common degree | Bachelor's Degree, 63% | Bachelor's Degree, 66% |
| Average age | 39 | 45 |
| Years of experience | 2 | 6 |
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 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.
Credit administrators and loan analysts have different pay scales, as shown below.
| Credit Administrator | Loan Analyst | |
| Average salary | $59,271 | $37,857 |
| Salary range | Between $33,000 And $106,000 | Between $24,000 And $58,000 |
| Highest paying City | New York, NY | Raleigh, NC |
| Highest paying state | New York | South Dakota |
| Best paying company | BNY Mellon | Barclays |
| Best paying industry | - | Finance |
There are a few differences between a credit administrator and a loan analyst in terms of educational background:
| Credit Administrator | Loan Analyst | |
| Most common degree | Bachelor's Degree, 63% | Bachelor's Degree, 66% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between credit administrators' and loan analysts' demographics:
| Credit Administrator | Loan Analyst | |
| Average age | 39 | 45 |
| Gender ratio | Male, 28.4% Female, 71.6% | Male, 43.2% Female, 56.8% |
| 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, 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% |