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The differences between senior bankers 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 senior banker and a senior loan officer. Additionally, a senior banker has an average salary of $66,444, which is higher than the $37,162 average annual salary of a senior loan officer.
The top three skills for a senior banker include bank policies, cross-selling and financial services. The most important skills for a senior loan officer are customer service, loan applications, and origination.
| Senior Banker | Senior Loan Officer | |
| Yearly salary | $66,444 | $37,162 |
| Hourly rate | $31.94 | $17.87 |
| Growth rate | 4% | 4% |
| Number of jobs | 23,051 | 65,807 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 61% | Bachelor's Degree, 66% |
| Average age | 45 | 45 |
| Years of experience | 6 | 6 |
A senior banker works in a banking facility to help potential clients develop relationships with their company. They promote banking products such as credit cards, accounts, or loans to clients. They also have the responsibility of processing payments and reminding clients of payment deadlines.
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.
Senior bankers and senior loan officers have different pay scales, as shown below.
| Senior Banker | Senior Loan Officer | |
| Average salary | $66,444 | $37,162 |
| Salary range | Between $28,000 And $153,000 | Between $29,000 And $46,000 |
| Highest paying City | New York, NY | Miami, FL |
| Highest paying state | New York | Hawaii |
| Best paying company | Citi | Salal Credit Union |
| Best paying industry | Finance | Finance |
There are a few differences between a senior banker and a senior loan officer in terms of educational background:
| Senior Banker | Senior Loan Officer | |
| Most common degree | Bachelor's Degree, 61% | Bachelor's Degree, 66% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between senior bankers' and senior loan officers' demographics:
| Senior Banker | Senior Loan Officer | |
| Average age | 45 | 45 |
| Gender ratio | Male, 52.8% Female, 47.2% | Male, 69.4% Female, 30.6% |
| Race ratio | Black or African American, 8.9% Unknown, 4.6% Hispanic or Latino, 15.8% Asian, 6.3% White, 63.9% 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% |