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The differences between mortgage analysts and analysts can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 1-2 years to become a mortgage analyst, becoming an analyst takes usually requires 2-4 years. Additionally, an analyst has an average salary of $73,007, which is higher than the $32,763 average annual salary of a mortgage analyst.
The top three skills for a mortgage analyst include origination, financial statements and excellent organizational. The most important skills for an analyst are customer service, troubleshoot, and data analysis.
| Mortgage Analyst | Analyst | |
| Yearly salary | $32,763 | $73,007 |
| Hourly rate | $15.75 | $35.10 |
| Growth rate | 4% | 11% |
| Number of jobs | 22,208 | 253,138 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 67% |
| Average age | 39 | 44 |
| Years of experience | 2 | 4 |
Mortgage analysts are financial professionals who are responsible for executing mortgage or loan applications by assessing financial risks and rewards. These analysts are required to analyze the financial and supporting documents on incoming applications to determine whether they are consistent with the internal and insurer policies. They must determine their borrowers' creditworthiness by evaluating property values based on appraised market prices. Mortgage analysts should also collaborate with credit bureaus and reporting agencies to investigate the credit ratings of loan applicants.
Analysts are employees or individual contributors with a vast experience in a particular field that help the organization address challenges. They help the organization improve processes, policies, and other operations protocol by studying the current processes in place and determining the effectiveness of those processes. They also research industry trends and data to make sound inferences and recommendations on what the company should do to improve their numbers. Analysts recommend business solutions and often help the organization roll out these solutions. They ensure that the proposed action plans are effective and produce the desired results.
Mortgage analysts and analysts have different pay scales, as shown below.
| Mortgage Analyst | Analyst | |
| Average salary | $32,763 | $73,007 |
| Salary range | Between $13,000 And $77,000 | Between $53,000 And $99,000 |
| Highest paying City | New York, NY | Jersey City, NJ |
| Highest paying state | New York | New Jersey |
| Best paying company | Citi | The Citadel |
| Best paying industry | - | Technology |
There are a few differences between a mortgage analyst and an analyst in terms of educational background:
| Mortgage Analyst | Analyst | |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 67% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | Northwestern University |
Here are the differences between mortgage analysts' and analysts' demographics:
| Mortgage Analyst | Analyst | |
| Average age | 39 | 44 |
| Gender ratio | Male, 54.1% Female, 45.9% | Male, 52.4% Female, 47.6% |
| Race ratio | Black or African American, 8.2% Unknown, 2.7% Hispanic or Latino, 9.8% Asian, 9.6% White, 69.3% American Indian and Alaska Native, 0.3% | Black or African American, 7.4% Unknown, 4.4% Hispanic or Latino, 8.5% Asian, 14.3% White, 65.2% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 11% | 12% |