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The differences between loan review analysts and closers 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 review analyst and a closer. Additionally, a loan review analyst has an average salary of $42,678, which is higher than the $29,291 average annual salary of a closer.
The top three skills for a loan review analyst include financial statements, loan documentation and real estate. The most important skills for a closer are customer service, cleanliness, and punctuality.
| Loan Review Analyst | Closer | |
| Yearly salary | $42,678 | $29,291 |
| Hourly rate | $20.52 | $14.08 |
| Growth rate | 4% | 4% |
| Number of jobs | 26,042 | 7,560 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 60% | Bachelor's Degree, 35% |
| Average age | 45 | 45 |
| Years of experience | 6 | 6 |
A loan review analyst is a person who evaluates all credit documents and information needed. They are responsible for gaining approval and maintaining compliance under the credit or loan guidelines. A loan revies analyst prepares needed loan reports with the necessary information for approval and decision making. Furthermore, they are the ones who are assessing credit structures. Often, this career is for someone who has experience in credit analysis and assessment.
The duties of a closer depend on one's line of work or industry of employment. Typically, their responsibilities revolve around liaising with clients to ensure that they understand and adhere to all terms of the agreement, completing all requirements and necessary documents, and maintaining records of all transactions. A closer must also monitor the regular payments of clients to ensure their compliance with the agreement, answer any inquiries, perform follow-up calls, and address any issues or concerns, resolving them promptly and efficiently.
Loan review analysts and closers have different pay scales, as shown below.
| Loan Review Analyst | Closer | |
| Average salary | $42,678 | $29,291 |
| Salary range | Between $25,000 And $72,000 | Between $20,000 And $40,000 |
| Highest paying City | Parsippany-Troy Hills, NJ | Greece, NY |
| Highest paying state | Washington | Hawaii |
| Best paying company | CFA Institute | GPAC |
| Best paying industry | Finance | - |
There are a few differences between a loan review analyst and a closer in terms of educational background:
| Loan Review Analyst | Closer | |
| Most common degree | Bachelor's Degree, 60% | Bachelor's Degree, 35% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between loan review analysts' and closers' demographics:
| Loan Review Analyst | Closer | |
| Average age | 45 | 45 |
| Gender ratio | Male, 37.7% Female, 62.3% | Male, 45.0% Female, 55.0% |
| Race ratio | Black or African American, 9.2% Unknown, 4.6% Hispanic or Latino, 16.0% Asian, 6.4% White, 63.3% American Indian and Alaska Native, 0.5% | Black or African American, 9.4% Unknown, 4.6% Hispanic or Latino, 16.3% Asian, 6.1% White, 63.1% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 8% | 8% |