Explore jobs
Find specific jobs
Explore careers
Explore professions
Best companies
Explore companies
The differences between junior loan officers and loan officers assistant 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 officer assistant. Additionally, a loan officer assistant has an average salary of $45,681, 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 officer assistant are customer service, origination, and loan process.
| Junior Loan Officer | Loan Officer Assistant | |
| Yearly salary | $39,006 | $45,681 |
| Hourly rate | $18.75 | $21.96 |
| Growth rate | 4% | 4% |
| Number of jobs | 72,136 | 65,094 |
| Job satisfaction | - | 4 |
| Most common degree | Bachelor's Degree, 56% | Bachelor's Degree, 53% |
| 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.
Loan Officer Assistants assist loan officers in processing the loan applications of clients. Loan officer assistants primarily work on the administrative tasks in the departments. They are in charge of managing documents, updating databases, and sorting files. Loan officer assistants may be assigned to review applications of clients. They should check whether both the application form and the supplementary documents are complete. They may also assess whether the clients meet the requirements for the loan. Upon checking, they manage the documents and package them for submission to the lender. Loan officer assistance may also be assigned to coordinate with lenders and update in-house policies according to the lenders' policies.
Junior loan officers and loan officers assistant have different pay scales, as shown below.
| Junior Loan Officer | Loan Officer Assistant | |
| Average salary | $39,006 | $45,681 |
| Salary range | Between $28,000 And $53,000 | Between $28,000 And $72,000 |
| Highest paying City | New York, NY | New York, NY |
| Highest paying state | New York | New York |
| Best paying company | Carnival Cruise Line | Stifel Financial |
| Best paying industry | Professional | Finance |
There are a few differences between a junior loan officer and a loan officer assistant in terms of educational background:
| Junior Loan Officer | Loan Officer Assistant | |
| Most common degree | Bachelor's Degree, 56% | Bachelor's Degree, 53% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | SUNY at Binghamton |
Here are the differences between junior loan officers' and loan officers assistant' demographics:
| Junior Loan Officer | Loan Officer Assistant | |
| Average age | 45 | 45 |
| Gender ratio | Male, 58.9% Female, 41.1% | Male, 28.8% Female, 71.2% |
| 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, 9.1% Unknown, 4.6% Hispanic or Latino, 15.7% Asian, 6.3% White, 63.8% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 8% | 8% |