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The differences between loan officers and personal lines underwriters can be seen in a few details. Each job has different responsibilities and duties. Additionally, a personal lines underwriter has an average salary of $69,706, which is higher than the $45,817 average annual salary of a loan officer.
The top three skills for a loan officer include customer service, origination and loan origination. The most important skills for a personal lines underwriter are insurance policies, underwriting decisions, and loss ratio.
| Loan Officer | Personal Lines Underwriter | |
| Yearly salary | $45,817 | $69,706 |
| Hourly rate | $22.03 | $33.51 |
| Growth rate | 4% | -4% |
| Number of jobs | 63,663 | 19,754 |
| Job satisfaction | 4.5 | - |
| Most common degree | Bachelor's Degree, 61% | Bachelor's Degree, 64% |
| Average age | 45 | 44 |
| Years of experience | 6 | - |
Loan officers are responsible for assisting borrowers on the best type of loans to avail and guiding the clients throughout the application process. A loan officer must be highly knowledgeable about different lending products, payment plans, loan regulations, and essential files for fast loan approval. Loan officers also act as the first point of contact, conducting an initial screening of the customers, process loan contracts and appropriate documentation, update account records, and respond to customer's inquiries. A loan officer also has the right to reject loan applicants who do not meet loan qualifications.
A personal lines underwriter works at insurance companies to ensure that clients are eligible to receive insurance services. Their responsibilities include gathering and analyzing insurance applications, verifying client information, studying financial histories and occupational risks, and conducting interviews. They may also perform clerical support tasks such as preparing and processing documents, handling calls and correspondence, and updating databases. Moreover, a personal lines underwriter typically works in a team setting, which requires an active communication line for a smooth and efficient workflow.
Loan officers and personal lines underwriters have different pay scales, as shown below.
| Loan Officer | Personal Lines Underwriter | |
| Average salary | $45,817 | $69,706 |
| Salary range | Between $30,000 And $69,000 | Between $43,000 And $111,000 |
| Highest paying City | New York, NY | New York, NY |
| Highest paying state | New York | New York |
| Best paying company | Bangor Savings Bank | Capital Group |
| Best paying industry | Finance | Insurance |
There are a few differences between a loan officer and a personal lines underwriter in terms of educational background:
| Loan Officer | Personal Lines Underwriter | |
| Most common degree | Bachelor's Degree, 61% | Bachelor's Degree, 64% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between loan officers' and personal lines underwriters' demographics:
| Loan Officer | Personal Lines Underwriter | |
| Average age | 45 | 44 |
| Gender ratio | Male, 55.3% Female, 44.7% | Male, 43.1% Female, 56.9% |
| Race ratio | Black or African American, 9.0% Unknown, 4.6% Hispanic or Latino, 15.7% Asian, 6.3% White, 63.9% American Indian and Alaska Native, 0.5% | Black or African American, 9.2% Unknown, 2.5% Hispanic or Latino, 9.8% Asian, 5.7% White, 72.5% American Indian and Alaska Native, 0.4% |
| LGBT Percentage | 8% | 9% |