Explore jobs
Find specific jobs
Explore careers
Explore professions
Best companies
Explore companies
The differences between junior underwriters 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 a junior underwriter and a loan analyst. Additionally, a junior underwriter has an average salary of $51,782, which is higher than the $37,857 average annual salary of a loan analyst.
The top three skills for a junior underwriter include loan programs, income documentation and credit reports. The most important skills for a loan analyst are loan documentation, customer service, and real estate.
| Junior Underwriter | Loan Analyst | |
| Yearly salary | $51,782 | $37,857 |
| Hourly rate | $24.90 | $18.20 |
| Growth rate | 4% | 4% |
| Number of jobs | 19,456 | 24,756 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 56% | Bachelor's Degree, 66% |
| Average age | 45 | 45 |
| Years of experience | 6 | 6 |
Working alongside senior underwriters, a junior underwriter is in charge of performing research and analysis to determine the eligibility of clients for insurance products and services. Their responsibilities include gathering and analyzing requirements, inspecting financial histories, participating in handling underwriting conditions, and monitoring current and past loans of a client. Should there be any complicated issues and concerns, they must report to the senior underwriter right away. Furthermore, a junior underwriter must carry out tasks while adhering to the company's policies and regulations.
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.
Junior underwriters and loan analysts have different pay scales, as shown below.
| Junior Underwriter | Loan Analyst | |
| Average salary | $51,782 | $37,857 |
| Salary range | Between $34,000 And $77,000 | Between $24,000 And $58,000 |
| Highest paying City | Hicksville, NY | Raleigh, NC |
| Highest paying state | New York | South Dakota |
| Best paying company | Chubb | Barclays |
| Best paying industry | Insurance | Finance |
There are a few differences between a junior underwriter and a loan analyst in terms of educational background:
| Junior Underwriter | Loan Analyst | |
| Most common degree | Bachelor's Degree, 56% | Bachelor's Degree, 66% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between junior underwriters' and loan analysts' demographics:
| Junior Underwriter | Loan Analyst | |
| Average age | 45 | 45 |
| Gender ratio | Male, 28.7% Female, 71.3% | Male, 43.2% Female, 56.8% |
| Race ratio | Black or African American, 9.0% Unknown, 4.6% Hispanic or Latino, 15.7% Asian, 6.3% White, 63.9% 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% |