Explore jobs
Find specific jobs
Explore careers
Explore professions
Best companies
Explore companies
The differences between loan officers assistant and commercial loan officers 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 officer assistant and a commercial loan officer. Additionally, a commercial loan officer has an average salary of $70,876, which is higher than the $45,681 average annual salary of a loan officer assistant.
The top three skills for a loan officer assistant include customer service, origination and loan process. The most important skills for a commercial loan officer are customer service, loan portfolio, and financial statements.
| Loan Officer Assistant | Commercial Loan Officer | |
| Yearly salary | $45,681 | $70,876 |
| Hourly rate | $21.96 | $34.08 |
| Growth rate | 4% | 4% |
| Number of jobs | 65,094 | 91,582 |
| Job satisfaction | 4 | - |
| Most common degree | Bachelor's Degree, 53% | Bachelor's Degree, 76% |
| Average age | 45 | 45 |
| Years of experience | 6 | 6 |
Loan Officer Assistants assist loan officers in processing the loan applications of clients. Loan officer assistants primarily work on the administrative tasks in the departments. They are in charge of managing documents, updating databases, and sorting files. Loan officer assistants may be assigned to review applications of clients. They should check whether both the application form and the supplementary documents are complete. They may also assess whether the clients meet the requirements for the loan. Upon checking, they manage the documents and package them for submission to the lender. Loan officer assistance may also be assigned to coordinate with lenders and update in-house policies according to the lenders' policies.
Commercial loan officers are financial professionals who are responsible for assessing and processing business loan applications at financial institutions. These loan officers must advise clients about their suitable loan and credit options while consulting with managers on credit policies, credit lines, and procedures. They are required to obtain and assess the financial information of applicants that includes their financial statements and credit histories. Commercial loan officers must also collaborate with other financial institutions to set up loan packages for extensive loans.
Loan officers assistant and commercial loan officers have different pay scales, as shown below.
| Loan Officer Assistant | Commercial Loan Officer | |
| Average salary | $45,681 | $70,876 |
| Salary range | Between $28,000 And $72,000 | Between $50,000 And $100,000 |
| Highest paying City | New York, NY | Fort Lee, NJ |
| Highest paying state | New York | Maine |
| Best paying company | Stifel Financial | Glacier Ban |
| Best paying industry | Finance | Finance |
There are a few differences between a loan officer assistant and a commercial loan officer in terms of educational background:
| Loan Officer Assistant | Commercial Loan Officer | |
| Most common degree | Bachelor's Degree, 53% | Bachelor's Degree, 76% |
| Most common major | Business | Business |
| Most common college | SUNY at Binghamton | University of Pennsylvania |
Here are the differences between loan officers assistant' and commercial loan officers' demographics:
| Loan Officer Assistant | Commercial Loan Officer | |
| Average age | 45 | 45 |
| Gender ratio | Male, 28.8% Female, 71.2% | Male, 73.8% Female, 26.2% |
| Race ratio | Black or African American, 9.1% Unknown, 4.6% Hispanic or Latino, 15.7% Asian, 6.3% White, 63.8% American Indian and Alaska Native, 0.5% | Black or African American, 9.3% Unknown, 4.6% Hispanic or Latino, 15.5% Asian, 6.5% White, 63.6% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 8% | 8% |