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The differences between loan review analysts and senior 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 review analyst and a senior loan officer. Additionally, a loan review analyst has an average salary of $42,678, which is higher than the $37,162 average annual salary of a senior loan officer.
The top three skills for a loan review analyst include financial statements, loan documentation and real estate. The most important skills for a senior loan officer are customer service, loan applications, and origination.
| Loan Review Analyst | Senior Loan Officer | |
| Yearly salary | $42,678 | $37,162 |
| Hourly rate | $20.52 | $17.87 |
| Growth rate | 4% | 4% |
| Number of jobs | 26,042 | 65,807 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 60% | Bachelor's Degree, 66% |
| 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.
A senior loan officer is responsible for authorizing loan applications after evaluating the applicant's loan eligibility upon submitting documents and other requirements. Senior loan officers assist the loan staff for the approval or rejection of the application, providing alternatives for the applicants based on their credibility. They monitor the loan process, create loan contracts, ensuring that the payment plans meet the federal laws and regulations. A senior loan officer must have extensive knowledge of the financial industry to prepare proposals timely and accurately.
Loan review analysts and senior loan officers have different pay scales, as shown below.
| Loan Review Analyst | Senior Loan Officer | |
| Average salary | $42,678 | $37,162 |
| Salary range | Between $25,000 And $72,000 | Between $29,000 And $46,000 |
| Highest paying City | Parsippany-Troy Hills, NJ | Miami, FL |
| Highest paying state | Washington | Hawaii |
| Best paying company | CFA Institute | Salal Credit Union |
| Best paying industry | Finance | Finance |
There are a few differences between a loan review analyst and a senior loan officer in terms of educational background:
| Loan Review Analyst | Senior Loan Officer | |
| Most common degree | Bachelor's Degree, 60% | Bachelor's Degree, 66% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between loan review analysts' and senior loan officers' demographics:
| Loan Review Analyst | Senior Loan Officer | |
| Average age | 45 | 45 |
| Gender ratio | Male, 37.7% Female, 62.3% | Male, 69.4% Female, 30.6% |
| 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, 9.2% 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% |