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The differences between escrow officers and loan analysts can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both an escrow officer and a loan analyst. Additionally, an escrow officer has an average salary of $50,270, which is higher than the $37,857 average annual salary of a loan analyst.
The top three skills for an escrow officer include customer service, HOA and title insurance. The most important skills for a loan analyst are loan documentation, customer service, and real estate.
| Escrow Officer | Loan Analyst | |
| Yearly salary | $50,270 | $37,857 |
| Hourly rate | $24.17 | $18.20 |
| Growth rate | 4% | 4% |
| Number of jobs | 62,077 | 24,756 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 47% | Bachelor's Degree, 66% |
| Average age | 45 | 45 |
| Years of experience | 6 | 6 |
Escrow officers, commonly known as loan officers, are responsible for real estate processing and finalizing deals. They ensure all documents are authentic and prepared, property titles are clear, and financial obligations have been thoroughly met by the buyer and seller. They verify the document of land ownership, checking property title, and consulting with potential buyers, sellers, and lending firms. It is also their responsibility to handle the deposition of funds and processing of legal documents, including paperwork to finalize the transaction.
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.
Escrow officers and loan analysts have different pay scales, as shown below.
| Escrow Officer | Loan Analyst | |
| Average salary | $50,270 | $37,857 |
| Salary range | Between $36,000 And $70,000 | Between $24,000 And $58,000 |
| Highest paying City | Walnut Creek, CA | Raleigh, NC |
| Highest paying state | New Mexico | South Dakota |
| Best paying company | Fidelity National Financial | Barclays |
| Best paying industry | Finance | Finance |
There are a few differences between an escrow officer and a loan analyst in terms of educational background:
| Escrow Officer | Loan Analyst | |
| Most common degree | Bachelor's Degree, 47% | Bachelor's Degree, 66% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between escrow officers' and loan analysts' demographics:
| Escrow Officer | Loan Analyst | |
| Average age | 45 | 45 |
| Gender ratio | Male, 14.9% Female, 85.1% | Male, 43.2% Female, 56.8% |
| Race ratio | Black or African American, 8.8% Unknown, 4.6% Hispanic or Latino, 16.0% Asian, 6.2% White, 64.0% American Indian and Alaska Native, 0.5% | 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 | 8% | 8% |