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The differences between personal lines underwriters and commercial loan officers can be seen in a few details. Each job has different responsibilities and duties. Additionally, a commercial loan officer has an average salary of $70,876, which is higher than the $69,706 average annual salary of a personal lines underwriter.
The top three skills for a personal lines underwriter include insurance policies, underwriting decisions and loss ratio. The most important skills for a commercial loan officer are customer service, loan portfolio, and financial statements.
| Personal Lines Underwriter | Commercial Loan Officer | |
| Yearly salary | $69,706 | $70,876 |
| Hourly rate | $33.51 | $34.08 |
| Growth rate | -4% | 4% |
| Number of jobs | 19,754 | 91,582 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 64% | Bachelor's Degree, 76% |
| Average age | 44 | 45 |
| Years of experience | - | 6 |
A personal lines underwriter works at insurance companies to ensure that clients are eligible to receive insurance services. Their responsibilities include gathering and analyzing insurance applications, verifying client information, studying financial histories and occupational risks, and conducting interviews. They may also perform clerical support tasks such as preparing and processing documents, handling calls and correspondence, and updating databases. Moreover, a personal lines underwriter typically works in a team setting, which requires an active communication line for a smooth and efficient workflow.
Commercial loan officers are financial professionals who are responsible for assessing and processing business loan applications at financial institutions. These loan officers must advise clients about their suitable loan and credit options while consulting with managers on credit policies, credit lines, and procedures. They are required to obtain and assess the financial information of applicants that includes their financial statements and credit histories. Commercial loan officers must also collaborate with other financial institutions to set up loan packages for extensive loans.
Personal lines underwriters and commercial loan officers have different pay scales, as shown below.
| Personal Lines Underwriter | Commercial Loan Officer | |
| Average salary | $69,706 | $70,876 |
| Salary range | Between $43,000 And $111,000 | Between $50,000 And $100,000 |
| Highest paying City | New York, NY | Fort Lee, NJ |
| Highest paying state | New York | Maine |
| Best paying company | Capital Group | Glacier Ban |
| Best paying industry | Insurance | Finance |
There are a few differences between a personal lines underwriter and a commercial loan officer in terms of educational background:
| Personal Lines Underwriter | Commercial Loan Officer | |
| Most common degree | Bachelor's Degree, 64% | Bachelor's Degree, 76% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between personal lines underwriters' and commercial loan officers' demographics:
| Personal Lines Underwriter | Commercial Loan Officer | |
| Average age | 44 | 45 |
| Gender ratio | Male, 43.1% Female, 56.9% | Male, 73.8% Female, 26.2% |
| Race ratio | Black or African American, 9.2% Unknown, 2.5% Hispanic or Latino, 9.8% Asian, 5.7% White, 72.5% American Indian and Alaska Native, 0.4% | Black or African American, 9.3% Unknown, 4.6% Hispanic or Latino, 15.5% Asian, 6.5% White, 63.6% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 9% | 8% |