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The differences between loan review analysts and credit analysts can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 4-6 years to become a loan review analyst, becoming a credit analyst takes usually requires 1-2 years. Additionally, a credit analyst has an average salary of $61,422, which is higher than the $42,678 average annual salary of a loan review analyst.
The top three skills for a loan review analyst include financial statements, loan documentation and real estate. The most important skills for a credit analyst are customer service, credit analysis, and customer accounts.
| Loan Review Analyst | Credit Analyst | |
| Yearly salary | $42,678 | $61,422 |
| Hourly rate | $20.52 | $29.53 |
| Growth rate | 4% | -5% |
| Number of jobs | 26,042 | 16,406 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 60% | Bachelor's Degree, 65% |
| Average age | 45 | 39 |
| Years of experience | 6 | 2 |
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.
A credit analyst's role is to assess and determine a client's capacity to uphold financial obligations when applying for loans or credit programs. Working for creditors like banks and lending firms, a credit analyst must interpret and analyze financial data and personal records, identify inconsistencies and risks, and verify necessary documentation in support of loan committees. Furthermore, a credit analyst must also perform administrative tasks such as preparing reports and applications, fulfilling document requests, reaching out to clients, and coordinating with colleagues to assure accuracy in all operations.
Loan review analysts and credit analysts have different pay scales, as shown below.
| Loan Review Analyst | Credit Analyst | |
| Average salary | $42,678 | $61,422 |
| Salary range | Between $25,000 And $72,000 | Between $40,000 And $93,000 |
| Highest paying City | Parsippany-Troy Hills, NJ | New York, NY |
| Highest paying state | Washington | New York |
| Best paying company | CFA Institute | Apollo Global Management |
| Best paying industry | Finance | Finance |
There are a few differences between a loan review analyst and a credit analyst in terms of educational background:
| Loan Review Analyst | Credit Analyst | |
| Most common degree | Bachelor's Degree, 60% | Bachelor's Degree, 65% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between loan review analysts' and credit analysts' demographics:
| Loan Review Analyst | Credit Analyst | |
| Average age | 45 | 39 |
| Gender ratio | Male, 37.7% Female, 62.3% | Male, 44.2% Female, 55.8% |
| 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, 7.7% Unknown, 2.6% Hispanic or Latino, 9.5% Asian, 10.5% White, 69.4% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 8% | 11% |