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The differences between junior loan officers and commercial loan officers can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both a junior loan officer and a commercial loan officer. Additionally, a commercial loan officer has an average salary of $70,876, which is higher than the $39,006 average annual salary of a junior loan officer.
The top three skills for a junior loan officer include loan applications, origination and inbound calls. The most important skills for a commercial loan officer are customer service, loan portfolio, and financial statements.
| Junior Loan Officer | Commercial Loan Officer | |
| Yearly salary | $39,006 | $70,876 |
| Hourly rate | $18.75 | $34.08 |
| Growth rate | 4% | 4% |
| Number of jobs | 72,136 | 91,582 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 56% | Bachelor's Degree, 76% |
| Average age | 45 | 45 |
| Years of experience | 6 | 6 |
A junior loan officer assists a mortgage loan officer in processing and closing residential mortgage applications. This includes consulting with the loan applicant about their financial backgrounds to determine whether they can pay a home mortgage. They provide information on various loan offers and mortgage programs that applicants may choose from. They discuss policies and coordinate with senior mortgage officers about the concerns of clients.
Commercial loan officers are financial professionals who are responsible for assessing and processing business loan applications at financial institutions. These loan officers must advise clients about their suitable loan and credit options while consulting with managers on credit policies, credit lines, and procedures. They are required to obtain and assess the financial information of applicants that includes their financial statements and credit histories. Commercial loan officers must also collaborate with other financial institutions to set up loan packages for extensive loans.
Junior loan officers and commercial loan officers have different pay scales, as shown below.
| Junior Loan Officer | Commercial Loan Officer | |
| Average salary | $39,006 | $70,876 |
| Salary range | Between $28,000 And $53,000 | Between $50,000 And $100,000 |
| Highest paying City | New York, NY | Fort Lee, NJ |
| Highest paying state | New York | Maine |
| Best paying company | Carnival Cruise Line | Glacier Ban |
| Best paying industry | Professional | Finance |
There are a few differences between a junior loan officer and a commercial loan officer in terms of educational background:
| Junior Loan Officer | Commercial Loan Officer | |
| Most common degree | Bachelor's Degree, 56% | Bachelor's Degree, 76% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between junior loan officers' and commercial loan officers' demographics:
| Junior Loan Officer | Commercial Loan Officer | |
| Average age | 45 | 45 |
| Gender ratio | Male, 58.9% Female, 41.1% | Male, 73.8% Female, 26.2% |
| Race ratio | Black or African American, 9.2% Unknown, 4.6% Hispanic or Latino, 16.0% Asian, 6.4% White, 63.3% 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% |