Loan workout officer vs loan analyst

The differences between loan workout officers 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 workout officer and a loan analyst. Additionally, a loan workout officer has an average salary of $46,768, which is higher than the $37,857 average annual salary of a loan analyst.

The top three skills for a loan workout officer include financial statements, commercial loans and SBA. The most important skills for a loan analyst are loan documentation, customer service, and real estate.

Loan workout officer vs loan analyst overview

	Loan Workout Officer	Loan Analyst
Yearly salary	$46,768	$37,857
Hourly rate	$22.48	$18.20
Growth rate	4%	4%
Number of jobs	61,309	24,756
Job satisfaction	4	-
Most common degree	Bachelor's Degree, 68%	Bachelor's Degree, 66%
Average age	45	45
Years of experience	6	6

Loan workout officer vs loan analyst salary

Loan workout officers and loan analysts have different pay scales, as shown below.

	Loan Workout Officer	Loan Analyst
Average salary	$46,768	$37,857
Salary range	Between $28,000 And $75,000	Between $24,000 And $58,000
Highest paying City	-	Raleigh, NC
Highest paying state	-	South Dakota
Best paying company	-	Barclays
Best paying industry	-	Finance

Differences between loan workout officer and loan analyst education

There are a few differences between a loan workout officer and a loan analyst in terms of educational background:

	Loan Workout Officer	Loan Analyst
Most common degree	Bachelor's Degree, 68%	Bachelor's Degree, 66%
Most common major	Business	Business
Most common college	University of Pennsylvania	University of Pennsylvania

Loan workout officer vs loan analyst demographics

Here are the differences between loan workout officers' and loan analysts' demographics:

	Loan Workout Officer	Loan Analyst
Average age	45	45
Gender ratio	Male, 72.9% Female, 27.1%	Male, 43.2% Female, 56.8%
Race ratio	Black or African American, 8.6% Unknown, 4.7% Hispanic or Latino, 16.6% Asian, 6.5% 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%

Differences between loan workout officer and loan analyst duties and responsibilities

Loan workout officer example responsibilities.

Supervise and manage the processing staff and also underwrite conventional loans for correspondent lenders.
Structure SBA repurchase packages with accurate liquidation and litigation financial plans.
Interact closely with the surveillance utilization and review team to audit medical record documentation in accordance with Medicaid regulations and guidelines.
Process trailing documents for initial and final GNMA certifications.

Loan analyst example responsibilities.

Innovate technical solutions, including development of complex macros within MSP, to automate work and reduce manual processes
Prepare and remit quarterly / semi-annual USDA reporting
Communicate with FHA, VA, FNMA and FHLMC investors for any missing documents that are not include at closing.
Review government loan's documents including FHA & VA loans, and approves or suspends the loans after the underwriter decision.
Contact correspondent lenders for any missing documents and request correction of documents when necessary.
Select to participate in company management as a critical member of loan origination process improvement team.

Loan workout officer vs loan analyst skills

Common loan workout officer skills

Financial Statements, 18%
Commercial Loans, 9%
SBA, 9%
Loan Portfolio, 8%
Cash Flow, 7%
Litigation, 7%

Common loan analyst skills

Loan Documentation, 13%
Customer Service, 12%
Real Estate, 9%
Financial Statements, 9%
Loan Portfolio, 4%
Data Entry, 4%