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The differences between loan originators 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 originator and a commercial loan officer. Additionally, a commercial loan officer has an average salary of $70,876, which is higher than the $41,291 average annual salary of a loan originator.
The top three skills for a loan originator include customer service, origination and FHA. The most important skills for a commercial loan officer are customer service, loan portfolio, and financial statements.
| Loan Originator | Commercial Loan Officer | |
| Yearly salary | $41,291 | $70,876 |
| Hourly rate | $19.85 | $34.08 |
| Growth rate | 4% | 4% |
| Number of jobs | 10,716 | 91,582 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 61% | Bachelor's Degree, 76% |
| Average age | 45 | 45 |
| Years of experience | 6 | 6 |
A Loan Originator is a potential liaison between borrowers and lenders. They help borrowers complete loan applications and evaluate which loans are most appropriate for the customers.
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 originators and commercial loan officers have different pay scales, as shown below.
| Loan Originator | Commercial Loan Officer | |
| Average salary | $41,291 | $70,876 |
| Salary range | Between $28,000 And $60,000 | Between $50,000 And $100,000 |
| Highest paying City | New York, NY | Fort Lee, NJ |
| Highest paying state | South Dakota | Maine |
| Best paying company | Centennial Bank | Glacier Ban |
| Best paying industry | Transportation | Finance |
There are a few differences between a loan originator and a commercial loan officer in terms of educational background:
| Loan Originator | Commercial Loan Officer | |
| Most common degree | Bachelor's Degree, 61% | Bachelor's Degree, 76% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between loan originators' and commercial loan officers' demographics:
| Loan Originator | Commercial Loan Officer | |
| Average age | 45 | 45 |
| Gender ratio | Male, 54.0% Female, 46.0% | Male, 73.8% Female, 26.2% |
| Race ratio | Black or African American, 9.2% Unknown, 4.6% Hispanic or Latino, 16.1% Asian, 6.4% White, 63.2% 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% |