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The differences between credit assistants 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 assistant and a credit officer. Additionally, a credit officer has an average salary of $129,478, which is higher than the $33,741 average annual salary of a credit assistant.
The top three skills for a credit assistant include data entry, financial statements and customer service. The most important skills for a credit officer are risk management, credit risk, and credit analysis.
| Credit Assistant | Credit Officer | |
| Yearly salary | $33,741 | $129,478 |
| Hourly rate | $16.22 | $62.25 |
| Growth rate | -5% | 17% |
| Number of jobs | 5,294 | 60,323 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 50% | Bachelor's Degree, 69% |
| Average age | 39 | 39 |
| Years of experience | 2 | 2 |
A credit assistant is responsible for processing credit requests and assisting customers. They usually answer inquiries, explain procedures, provide instructions, and deal with customer concerns. In some companies, a credit assistant is also in charge of providing support to managers, supervisors, or investigators by preparing and processing documents, handling calls and correspondence, arranging appointments, and coordinating with different departments. They may also participate in training new employees.
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 assistants and credit officers have different pay scales, as shown below.
| Credit Assistant | Credit Officer | |
| Average salary | $33,741 | $129,478 |
| Salary range | Between $26,000 And $43,000 | Between $85,000 And $196,000 |
| Highest paying City | San Francisco, CA | New York, NY |
| Highest paying state | California | New York |
| Best paying company | Carter Lumber | Farm Credit System |
| Best paying industry | Finance | Finance |
There are a few differences between a credit assistant and a credit officer in terms of educational background:
| Credit Assistant | Credit Officer | |
| Most common degree | Bachelor's Degree, 50% | Bachelor's Degree, 69% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between credit assistants' and credit officers' demographics:
| Credit Assistant | Credit Officer | |
| Average age | 39 | 39 |
| Gender ratio | Male, 20.4% Female, 79.6% | Male, 64.4% Female, 35.6% |
| Race ratio | Black or African American, 7.9% Unknown, 2.7% Hispanic or Latino, 9.7% Asian, 10.7% White, 68.7% 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% |