Escrow representative vs credit officer

The differences between escrow representatives 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 an escrow representative and a credit officer. Additionally, a credit officer has an average salary of $129,478, which is higher than the $52,342 average annual salary of an escrow representative.

The top three skills for an escrow representative include customer service, property taxes and RESPA. The most important skills for a credit officer are risk management, credit risk, and credit analysis.

Escrow representative vs credit officer overview

	Escrow Representative	Credit Officer
Yearly salary	$52,342	$129,478
Hourly rate	$25.16	$62.25
Growth rate	4%	17%
Number of jobs	1,624	60,323
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 58%	Bachelor's Degree, 69%
Average age	39	39
Years of experience	2	2

Escrow representative vs credit officer salary

Escrow representatives and credit officers have different pay scales, as shown below.

	Escrow Representative	Credit Officer
Average salary	$52,342	$129,478
Salary range	Between $39,000 And $70,000	Between $85,000 And $196,000
Highest paying City	-	New York, NY
Highest paying state	-	New York
Best paying company	-	Farm Credit System
Best paying industry	-	Finance

Differences between escrow representative and credit officer education

There are a few differences between an escrow representative and a credit officer in terms of educational background:

	Escrow Representative	Credit Officer
Most common degree	Bachelor's Degree, 58%	Bachelor's Degree, 69%
Most common major	Business	Business
Most common college	University of Pennsylvania	University of Pennsylvania

Escrow representative vs credit officer demographics

Here are the differences between escrow representatives' and credit officers' demographics:

	Escrow Representative	Credit Officer
Average age	39	39
Gender ratio	Male, 31.9% Female, 68.1%	Male, 64.4% Female, 35.6%
Race ratio	Black or African American, 6.5% Unknown, 2.8% Hispanic or Latino, 10.6% Asian, 10.7% White, 69.1% 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%

Differences between escrow representative and credit officer duties and responsibilities

Escrow representative example responsibilities.

Conduct in-services on managing patients with chemotherapy-induce anemia to nursing staff at inpatient and outpatient facilities, providing treatment algorithms.
Train to immediately recognize various commercial and government plans and redirect patients, as necessary, to correct medical facility.
Manage escrow department for title insurance company.

Credit officer example responsibilities.

Manage credit risk and provide independent oversight of the bank portfolio.
Manage the global function for an ERP software company that has a niche market in manufacturing companies.
Manage SBA construction/tenant improvement projects submit until project is completed.
Partner with small and entrepreneurial business to develop business plans and assist business owners with achieving payroll.
Review clients file for compliance with: CIP, OFAC, HMDA, CRA and red flag activities.
Audit applications for HUD and IHDA compliance.

Escrow representative vs credit officer skills

Common escrow representative skills

Customer Service, 30%
Property Taxes, 12%
RESPA, 11%
Residential Loans, 11%
FHA, 10%
Account Numbers, 6%

Common credit officer skills

Risk Management, 10%
Credit Risk, 7%
Credit Analysis, 5%
Real Estate, 4%
Credit Approval, 4%
Portfolio Management, 4%