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The differences between senior underwriters and loan analysts can be seen in a few details. Each job has different responsibilities and duties. Additionally, a senior underwriter has an average salary of $69,375, which is higher than the $37,857 average annual salary of a loan analyst.
The top three skills for a senior underwriter include customer service, portfolio and underwriting guidelines. The most important skills for a loan analyst are loan documentation, customer service, and real estate.
| Senior Underwriter | Loan Analyst | |
| Yearly salary | $69,375 | $37,857 |
| Hourly rate | $33.35 | $18.20 |
| Growth rate | -4% | 4% |
| Number of jobs | 6,726 | 24,756 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 66% |
| Average age | 44 | 45 |
| Years of experience | - | 6 |
A senior underwriter is responsible for evaluating the eligibility of an applicant for loan application processing. Senior underwriters verify the applicant's information, including their credit score and other valid documents, ensuring that the applicant fulfills the loan application's parameters. They check the applicant's portfolios and provide them the next necessary steps and the alternatives for loan types. A senior underwriter must have excellent knowledge of the loan processes and underwriting procedures to analyze applications and make accurate decisions.
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.
Senior underwriters and loan analysts have different pay scales, as shown below.
| Senior Underwriter | Loan Analyst | |
| Average salary | $69,375 | $37,857 |
| Salary range | Between $44,000 And $108,000 | 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 senior underwriter and a loan analyst in terms of educational background:
| Senior Underwriter | Loan Analyst | |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 66% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between senior underwriters' and loan analysts' demographics:
| Senior Underwriter | Loan Analyst | |
| Average age | 44 | 45 |
| Gender ratio | Male, 42.0% Female, 58.0% | Male, 43.2% Female, 56.8% |
| Race ratio | Black or African American, 9.3% Unknown, 2.5% Hispanic or Latino, 9.4% Asian, 5.6% White, 72.9% 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% |