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The differences between loan analysts and commercial underwriters can be seen in a few details. Each job has different responsibilities and duties. Additionally, a commercial underwriter has an average salary of $59,051, which is higher than the $37,857 average annual salary of a loan analyst.
The top three skills for a loan analyst include loan documentation, customer service and real estate. The most important skills for a commercial underwriter are real estate, customer service, and financial analysis.
| Loan Analyst | Commercial Underwriter | |
| Yearly salary | $37,857 | $59,051 |
| Hourly rate | $18.20 | $28.39 |
| Growth rate | 4% | -4% |
| Number of jobs | 24,756 | 31,908 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 75% |
| Average age | 45 | 44 |
| Years of experience | 6 | - |
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.
A commercial underwriter is responsible for processing commercial loan applications, evaluating payment agreements and terms of service, validating customers' information, and requesting additional documents as needed. Commercial underwriters analyze the credit qualifications of an applicant, including financial history, account statements, and outstanding loan applications, if any. They identify potential credit risks for the loan request and advice the applicants for alternative loan options according to their needs and qualifications. A commercial underwriter responds to the applicants' inquiries and concerns regarding their loan applications and provides timely decisions for their requests.
Loan analysts and commercial underwriters have different pay scales, as shown below.
| Loan Analyst | Commercial Underwriter | |
| Average salary | $37,857 | $59,051 |
| Salary range | Between $24,000 And $58,000 | Between $41,000 And $84,000 |
| Highest paying City | Raleigh, NC | Olympia, WA |
| Highest paying state | South Dakota | Washington |
| Best paying company | Barclays | J.P. Morgan |
| Best paying industry | Finance | Finance |
There are a few differences between a loan analyst and a commercial underwriter in terms of educational background:
| Loan Analyst | Commercial Underwriter | |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 75% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between loan analysts' and commercial underwriters' demographics:
| Loan Analyst | Commercial Underwriter | |
| Average age | 45 | 44 |
| Gender ratio | Male, 43.2% Female, 56.8% | Male, 48.7% Female, 51.3% |
| Race ratio | 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% | Black or African American, 9.9% Unknown, 2.5% Hispanic or Latino, 9.3% Asian, 5.5% White, 72.4% American Indian and Alaska Native, 0.4% |
| LGBT Percentage | 8% | 9% |