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The differences between loan analysts and loan review 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 loan analyst and a loan review analyst. Additionally, a loan review analyst has an average salary of $42,678, 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 loan review analyst are financial statements, loan documentation, and real estate.
| Loan Analyst | Loan Review Analyst | |
| Yearly salary | $37,857 | $42,678 |
| Hourly rate | $18.20 | $20.52 |
| Growth rate | 4% | 4% |
| Number of jobs | 24,756 | 26,042 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 60% |
| Average age | 45 | 45 |
| Years of experience | 6 | 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 loan review analyst is a person who evaluates all credit documents and information needed. They are responsible for gaining approval and maintaining compliance under the credit or loan guidelines. A loan revies analyst prepares needed loan reports with the necessary information for approval and decision making. Furthermore, they are the ones who are assessing credit structures. Often, this career is for someone who has experience in credit analysis and assessment.
Loan analysts and loan review analysts have different pay scales, as shown below.
| Loan Analyst | Loan Review Analyst | |
| Average salary | $37,857 | $42,678 |
| Salary range | Between $24,000 And $58,000 | Between $25,000 And $72,000 |
| Highest paying City | Raleigh, NC | Parsippany-Troy Hills, NJ |
| Highest paying state | South Dakota | Washington |
| Best paying company | Barclays | CFA Institute |
| Best paying industry | Finance | Finance |
There are a few differences between a loan analyst and a loan review analyst in terms of educational background:
| Loan Analyst | Loan Review Analyst | |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 60% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between loan analysts' and loan review analysts' demographics:
| Loan Analyst | Loan Review Analyst | |
| Average age | 45 | 45 |
| Gender ratio | Male, 43.2% Female, 56.8% | Male, 37.7% Female, 62.3% |
| 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, 9.2% Unknown, 4.6% Hispanic or Latino, 16.0% Asian, 6.4% White, 63.3% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 8% | 8% |