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The differences between personal lines underwriters and loan analysts can be seen in a few details. Each job has different responsibilities and duties. Additionally, a personal lines underwriter has an average salary of $69,706, which is higher than the $37,857 average annual salary of a loan analyst.
The top three skills for a personal lines underwriter include insurance policies, underwriting decisions and loss ratio. The most important skills for a loan analyst are loan documentation, customer service, and real estate.
| Personal Lines Underwriter | Loan Analyst | |
| Yearly salary | $69,706 | $37,857 |
| Hourly rate | $33.51 | $18.20 |
| Growth rate | -4% | 4% |
| Number of jobs | 19,754 | 24,756 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 64% | Bachelor's Degree, 66% |
| 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.
A loan analyst is responsible for determining the eligibility of loan applicants in purchasing loan services by analyzing their application documents, account statements, and financial and credit status. Loan analysts evaluate loan agreements and payment plans and explain feasibility to the customers and loan officers before granting the loan. They also provide loan options and alternatives to the clients according to their needs and risk limitations. A loan analyst must have excellent knowledge of the loan and financial industry, especially in handling credit policies and loan processes and ensuring timely submission of reports.
Personal lines underwriters and loan analysts have different pay scales, as shown below.
| Personal Lines Underwriter | Loan Analyst | |
| Average salary | $69,706 | $37,857 |
| Salary range | Between $43,000 And $111,000 | Between $24,000 And $58,000 |
| Highest paying City | New York, NY | Raleigh, NC |
| Highest paying state | New York | South Dakota |
| Best paying company | Capital Group | Barclays |
| Best paying industry | Insurance | Finance |
There are a few differences between a personal lines underwriter and a loan analyst in terms of educational background:
| Personal Lines Underwriter | Loan Analyst | |
| Most common degree | Bachelor's Degree, 64% | Bachelor's Degree, 66% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between personal lines underwriters' and loan analysts' demographics:
| Personal Lines Underwriter | Loan Analyst | |
| Average age | 44 | 45 |
| Gender ratio | Male, 43.1% Female, 56.9% | Male, 43.2% Female, 56.8% |
| 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, 9.2% Unknown, 4.6% Hispanic or Latino, 15.9% Asian, 6.4% White, 63.4% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 9% | 8% |