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The differences between credit counselors and commercial loan officers 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 counselor, becoming a commercial loan officer takes usually requires 4-6 years. Additionally, a commercial loan officer has an average salary of $70,876, which is higher than the $40,227 average annual salary of a credit counselor.
The top three skills for a credit counselor include customer service, debt management and outbound calls. The most important skills for a commercial loan officer are customer service, loan portfolio, and financial statements.
| Credit Counselor | Commercial Loan Officer | |
| Yearly salary | $40,227 | $70,876 |
| Hourly rate | $19.34 | $34.08 |
| Growth rate | -8% | 4% |
| Number of jobs | 32,221 | 91,582 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 47% | Bachelor's Degree, 76% |
| Average age | 45 | 45 |
| Years of experience | 2 | 6 |
Credit counselors and commercial loan officers have different pay scales, as shown below.
| Credit Counselor | Commercial Loan Officer | |
| Average salary | $40,227 | $70,876 |
| Salary range | Between $27,000 And $59,000 | Between $50,000 And $100,000 |
| Highest paying City | New York, NY | Fort Lee, NJ |
| Highest paying state | New York | Maine |
| Best paying company | BNY Mellon | Glacier Ban |
| Best paying industry | Finance | Finance |
There are a few differences between a credit counselor and a commercial loan officer in terms of educational background:
| Credit Counselor | Commercial Loan Officer | |
| Most common degree | Bachelor's Degree, 47% | Bachelor's Degree, 76% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between credit counselors' and commercial loan officers' demographics:
| Credit Counselor | Commercial Loan Officer | |
| Average age | 45 | 45 |
| Gender ratio | Male, 41.2% Female, 58.8% | Male, 73.8% Female, 26.2% |
| Race ratio | Black or African American, 9.2% Unknown, 4.6% Hispanic or Latino, 16.1% Asian, 6.4% White, 63.2% American Indian and Alaska Native, 0.5% | Black or African American, 9.3% Unknown, 4.6% Hispanic or Latino, 15.5% Asian, 6.5% White, 63.6% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 8% | 8% |