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The differences between junior loan officers and loan administrators 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 loan administrator. Additionally, a loan administrator has an average salary of $42,859, 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 loan administrator are customer service, data entry, and loan administration.
| Junior Loan Officer | Loan Administrator | |
| Yearly salary | $39,006 | $42,859 |
| Hourly rate | $18.75 | $20.61 |
| Growth rate | 4% | 4% |
| Number of jobs | 72,136 | 63,708 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 56% | Bachelor's Degree, 58% |
| 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.
A Loan Administrator is a person that takes care of all the documentation part of the loan process. Loans require a lot of documents and requirements, and a loan administrator is a person that helps the client accomplish all these requirements. It is also their job to help clients resolve issues and problems during the loan process. A Loan Administrator is a crucial and hectic job. The one qualified for this position must be good at handling pressure, be good at resolving issues, handle complaints, and communicate with people.
Junior loan officers and loan administrators have different pay scales, as shown below.
| Junior Loan Officer | Loan Administrator | |
| Average salary | $39,006 | $42,859 |
| Salary range | Between $28,000 And $53,000 | Between $31,000 And $59,000 |
| Highest paying City | New York, NY | Seattle, WA |
| Highest paying state | New York | Hawaii |
| Best paying company | Carnival Cruise Line | BNY Mellon |
| Best paying industry | Professional | Finance |
There are a few differences between a junior loan officer and a loan administrator in terms of educational background:
| Junior Loan Officer | Loan Administrator | |
| Most common degree | Bachelor's Degree, 56% | Bachelor's Degree, 58% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between junior loan officers' and loan administrators' demographics:
| Junior Loan Officer | Loan Administrator | |
| Average age | 45 | 45 |
| Gender ratio | Male, 58.9% Female, 41.1% | Male, 23.2% Female, 76.8% |
| 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, 16.2% Asian, 6.4% White, 63.0% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 8% | 8% |