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The differences between loan originators and loan 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 originator and a loan analyst. Additionally, a loan originator has an average salary of $41,291, which is higher than the $37,857 average annual salary of a loan analyst.
The top three skills for a loan originator include customer service, origination and FHA. The most important skills for a loan analyst are loan documentation, customer service, and real estate.
| Loan Originator | Loan Analyst | |
| Yearly salary | $41,291 | $37,857 |
| Hourly rate | $19.85 | $18.20 |
| Growth rate | 4% | 4% |
| Number of jobs | 10,716 | 24,756 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 61% | Bachelor's Degree, 66% |
| 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.
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.
Loan originators and loan analysts have different pay scales, as shown below.
| Loan Originator | Loan Analyst | |
| Average salary | $41,291 | $37,857 |
| Salary range | Between $28,000 And $60,000 | Between $24,000 And $58,000 |
| Highest paying City | New York, NY | Raleigh, NC |
| Highest paying state | South Dakota | South Dakota |
| Best paying company | Centennial Bank | Barclays |
| Best paying industry | Transportation | Finance |
There are a few differences between a loan originator and a loan analyst in terms of educational background:
| Loan Originator | Loan Analyst | |
| Most common degree | Bachelor's Degree, 61% | Bachelor's Degree, 66% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between loan originators' and loan analysts' demographics:
| Loan Originator | Loan Analyst | |
| Average age | 45 | 45 |
| Gender ratio | Male, 54.0% Female, 46.0% | Male, 43.2% Female, 56.8% |
| 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, 9.2% Unknown, 4.6% Hispanic or Latino, 15.9% Asian, 6.4% White, 63.4% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 8% | 8% |