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The differences between loan advisers and loan originators can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both a loan adviser and a loan originator. Additionally, a loan originator has an average salary of $41,291, which is higher than the $40,365 average annual salary of a loan adviser.
The top three skills for a loan adviser include customer service, origination and mortgage loans. The most important skills for a loan originator are customer service, origination, and FHA.
| Loan Adviser | Loan Originator | |
| Yearly salary | $40,365 | $41,291 |
| Hourly rate | $19.41 | $19.85 |
| Growth rate | 4% | 4% |
| Number of jobs | 24,189 | 10,716 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 52% | Bachelor's Degree, 61% |
| Average age | 45 | 45 |
| Years of experience | 6 | 6 |
A loan adviser evaluates and assesses mortgage applications to ensure that the client is capable and capacitated to pay their finances and obligations. They conduct one on one interviews with the client, verifies the documents presented, and handles the approval process. They can often be seen in a bank or a credit institution that gives support to the clients and borrowers. This career is considered a vital part of a bank as it determines the possible increase of a company's profit by their loan programs.
A Loan Originator is a potential liaison between borrowers and lenders. They help borrowers complete loan applications and evaluate which loans are most appropriate for the customers.
Loan advisers and loan originators have different pay scales, as shown below.
| Loan Adviser | Loan Originator | |
| Average salary | $40,365 | $41,291 |
| Salary range | Between $28,000 And $56,000 | Between $28,000 And $60,000 |
| Highest paying City | - | New York, NY |
| Highest paying state | - | South Dakota |
| Best paying company | - | Centennial Bank |
| Best paying industry | - | Transportation |
There are a few differences between a loan adviser and a loan originator in terms of educational background:
| Loan Adviser | Loan Originator | |
| Most common degree | Bachelor's Degree, 52% | Bachelor's Degree, 61% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between loan advisers' and loan originators' demographics:
| Loan Adviser | Loan Originator | |
| Average age | 45 | 45 |
| Gender ratio | Male, 47.7% Female, 52.3% | Male, 54.0% Female, 46.0% |
| Race ratio | Black or African American, 9.3% Unknown, 4.6% Hispanic or Latino, 16.1% Asian, 6.4% White, 63.1% American Indian and Alaska Native, 0.5% | Black or African American, 9.2% Unknown, 4.6% Hispanic or Latino, 16.1% Asian, 6.4% White, 63.2% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 8% | 8% |