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The differences between credit analysts and mortgage analysts 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 analyst and a mortgage analyst. Additionally, a credit analyst has an average salary of $61,422, which is higher than the $32,763 average annual salary of a mortgage analyst.
The top three skills for a credit analyst include customer service, credit analysis and customer accounts. The most important skills for a mortgage analyst are origination, financial statements, and excellent organizational.
| Credit Analyst | Mortgage Analyst | |
| Yearly salary | $61,422 | $32,763 |
| Hourly rate | $29.53 | $15.75 |
| Growth rate | -5% | 4% |
| Number of jobs | 16,406 | 22,208 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 65% | Bachelor's Degree, 71% |
| Average age | 39 | 39 |
| Years of experience | 2 | 2 |
A credit analyst's role is to assess and determine a client's capacity to uphold financial obligations when applying for loans or credit programs. Working for creditors like banks and lending firms, a credit analyst must interpret and analyze financial data and personal records, identify inconsistencies and risks, and verify necessary documentation in support of loan committees. Furthermore, a credit analyst must also perform administrative tasks such as preparing reports and applications, fulfilling document requests, reaching out to clients, and coordinating with colleagues to assure accuracy in all operations.
Mortgage analysts are financial professionals who are responsible for executing mortgage or loan applications by assessing financial risks and rewards. These analysts are required to analyze the financial and supporting documents on incoming applications to determine whether they are consistent with the internal and insurer policies. They must determine their borrowers' creditworthiness by evaluating property values based on appraised market prices. Mortgage analysts should also collaborate with credit bureaus and reporting agencies to investigate the credit ratings of loan applicants.
Credit analysts and mortgage analysts have different pay scales, as shown below.
| Credit Analyst | Mortgage Analyst | |
| Average salary | $61,422 | $32,763 |
| Salary range | Between $40,000 And $93,000 | Between $13,000 And $77,000 |
| Highest paying City | New York, NY | New York, NY |
| Highest paying state | New York | New York |
| Best paying company | Apollo Global Management | Citi |
| Best paying industry | Finance | - |
There are a few differences between a credit analyst and a mortgage analyst in terms of educational background:
| Credit Analyst | Mortgage Analyst | |
| Most common degree | Bachelor's Degree, 65% | Bachelor's Degree, 71% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between credit analysts' and mortgage analysts' demographics:
| Credit Analyst | Mortgage Analyst | |
| Average age | 39 | 39 |
| Gender ratio | Male, 44.2% Female, 55.8% | Male, 54.1% Female, 45.9% |
| Race ratio | Black or African American, 7.7% Unknown, 2.6% Hispanic or Latino, 9.5% Asian, 10.5% White, 69.4% American Indian and Alaska Native, 0.3% | Black or African American, 8.2% Unknown, 2.7% Hispanic or Latino, 9.8% Asian, 9.6% White, 69.3% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 11% | 11% |