What Does a Loan Analyst Do?

In this section, we take a look at the annual salaries of other professions. Take credit officer for example. On average, the credit officers annual salary is $91,621 higher than what loan analysts make on average every year.

Even though loan analysts and credit officers have vast differences in their careers, a few of the skills required to do both jobs are similar. For example, both careers require loan documentation, customer service, and real estate in the day-to-day roles.

These skill sets are where the common ground ends though. A loan analyst responsibility is more likely to require skills like "financial statements," "excellent interpersonal," "data entry," and "loan processing." Whereas a credit officer requires skills like "risk management," "credit risk," "credit approval," and "portfolio management." Just by understanding these different skills you can see how different these careers are.

Credit officers really shine in the finance industry with an average salary of $120,621. Whereas loan analysts tend to make the most money in the finance industry with an average salary of $37,567.

On average, credit officers reach higher levels of education than loan analysts. Credit officers are 10.4% more likely to earn a Master's Degree and 0.2% more likely to graduate with a Doctoral Degree.

The next role we're going to look at is the underwriter profession. Typically, this position earns a higher pay. In fact, they earn a $23,894 higher salary than loan analysts per year.

While the salary may be different for these job positions, there is one similarity and that's a few of the skills needed to perform certain duties. We used info from lots of resumes to find that both loan analysts and underwriters are known to have skills such as "customer service," "financial statements," and "excellent interpersonal. "

In addition to the difference in salary, there are some other key differences that are worth noting. For example, loan analyst responsibilities are more likely to require skills like "loan documentation," "real estate," "loan portfolio," and "data entry." Meanwhile, a underwriter might be skilled in areas such as "mortgage loans," "credit decisions," "underwriting process," and "strong analytical." These differences highlight just how different the day-to-day in each role looks.

On average, underwriters earn a higher salary than loan analysts. There are industries that support higher salaries in each profession respectively. Interestingly enough, underwriters earn the most pay in the manufacturing industry with an average salary of $78,233. Whereas, loan analysts have higher paychecks in the finance industry where they earn an average of $37,567.

In general, underwriters study at similar levels of education than loan analysts. They're 0.9% less likely to obtain a Master's Degree while being 0.2% less likely to earn a Doctoral Degree.

The senior underwriter profession generally makes a higher amount of money when compared to the average salary of loan analysts. The difference in salaries is senior underwriters making $31,518 higher than loan analysts.

By looking over several loan analysts and senior underwriters resumes, we found that both roles utilize similar skills, such as "loan documentation," "customer service," and "financial statements." But beyond that the careers look very different.

Some important key differences between the two careers are a few of the skills necessary to fulfill responsibilities. Some examples from loan analyst resumes include skills like "real estate," "loan portfolio," "data entry," and "loan processing," whereas a senior underwriter might be skilled in "portfolio," "strong analytical," "sr," and "renewal business. "

Additionally, senior underwriters earn a higher salary in the insurance industry compared to other industries. In this industry, they receive an average salary of $77,893. Additionally, loan analysts earn an average salary of $37,567 in the finance industry.

When it comes to education, senior underwriters tend to earn similar education levels than loan analysts. In fact, they're 0.6% more likely to earn a Master's Degree, and 0.4% more likely to graduate with a Doctoral Degree.

The fourth career we look at typically earns lower pay than loan analysts. On average, mortgage bankers earn a difference of $10,526 lower per year.

While both loan analysts and mortgage bankers complete day-to-day tasks using similar skills like customer service, financial statements, and origination, the two careers also vary in other skills.

While some skills are shared by these professions, there are some differences to note. "loan documentation," "real estate," "excellent interpersonal," and "loan portfolio" are skills that have shown up on loan analysts resumes. Additionally, mortgage banker uses skills like nmls, bank products, credit data, and cross-selling on their resumes.

Mortgage bankers reach similar levels of education when compared to loan analysts. The difference is that they're 0.6% more likely to earn a Master's Degree less, and 0.2% more likely to graduate with a Doctoral Degree.