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The differences between senior credit analysts and mortgage bankers can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 1-2 years to become a senior credit analyst, becoming a mortgage banker takes usually requires 4-6 years. Additionally, a senior credit analyst has an average salary of $86,364, which is higher than the $27,331 average annual salary of a mortgage banker.
The top three skills for a senior credit analyst include credit analysis, customer service and real estate. The most important skills for a mortgage banker are customer service, NMLS, and federal regulations.
| Senior Credit Analyst | Mortgage Banker | |
| Yearly salary | $86,364 | $27,331 |
| Hourly rate | $41.52 | $13.14 |
| Growth rate | 17% | 4% |
| Number of jobs | 15,221 | 24,297 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 72% |
| Average age | 39 | 45 |
| Years of experience | 2 | 6 |
A senior credit analyst is responsible for reviewing the loan applications of an individual and organization, determining their eligibility by evaluating their credit scores and financial history. Senior credit analysts assess the applicant's capability to pay according to terms and conditions and loan payment plans. They submit recommendation reports of qualified applicants for further investigation and have them submit additional documents as needed. A senior credit analyst decides on credit limits and may provide the applicants' loan and credit alternatives, requiring them to have excellent knowledge of the financial industry and loan options.
A Mortgage Banker is specialized in offering financing to buy homes or refinance previous mortgages. They work as part of a banks loan department.
Senior credit analysts and mortgage bankers have different pay scales, as shown below.
| Senior Credit Analyst | Mortgage Banker | |
| Average salary | $86,364 | $27,331 |
| Salary range | Between $59,000 And $125,000 | Between $9,000 And $78,000 |
| Highest paying City | White Plains, NY | - |
| Highest paying state | New York | - |
| Best paying company | Apple | - |
| Best paying industry | Finance | - |
There are a few differences between a senior credit analyst and a mortgage banker in terms of educational background:
| Senior Credit Analyst | Mortgage Banker | |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 72% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between senior credit analysts' and mortgage bankers' demographics:
| Senior Credit Analyst | Mortgage Banker | |
| Average age | 39 | 45 |
| Gender ratio | Male, 54.6% Female, 45.4% | Male, 71.7% Female, 28.3% |
| Race ratio | Black or African American, 8.3% Unknown, 2.7% Hispanic or Latino, 9.9% Asian, 10.0% White, 68.8% American Indian and Alaska Native, 0.3% | Black or African American, 9.5% Unknown, 4.7% Hispanic or Latino, 15.7% Asian, 6.5% White, 63.2% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 11% | 8% |