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The differences between underwriters and loan analysts can be seen in a few details. Each job has different responsibilities and duties. Additionally, an underwriter has an average salary of $61,751, which is higher than the $37,857 average annual salary of a loan analyst.
The top three skills for an underwriter include customer service, investor guidelines and mortgage loans. The most important skills for a loan analyst are loan documentation, customer service, and real estate.
| Underwriter | Loan Analyst | |
| Yearly salary | $61,751 | $37,857 |
| Hourly rate | $29.69 | $18.20 |
| Growth rate | -4% | 4% |
| Number of jobs | 8,510 | 24,756 |
| Job satisfaction | 3 | - |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 66% |
| Average age | 44 | 45 |
| Years of experience | - | 6 |
An underwriter's duties depend on the line of work or industry involved, such as mortgage companies, insurance, or lending firms. However, an Underwriter's responsibility will mainly revolve around using their extensive expertise on how a company will achieve financial gains, and assessing the possible financial risks of a client by reviewing various aspects to determine their capacity to uphold monetary obligations. Most of the time, the Underwriter's tasks will also involve evaluating a client's credit history, health, assets, overall financial history.
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.
Underwriters and loan analysts have different pay scales, as shown below.
| Underwriter | Loan Analyst | |
| Average salary | $61,751 | $37,857 |
| Salary range | Between $39,000 And $96,000 | Between $24,000 And $58,000 |
| Highest paying City | Boston, MA | Raleigh, NC |
| Highest paying state | Massachusetts | South Dakota |
| Best paying company | Barclays | |
| Best paying industry | Manufacturing | Finance |
There are a few differences between an underwriter and a loan analyst in terms of educational background:
| Underwriter | Loan Analyst | |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 66% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between underwriters' and loan analysts' demographics:
| Underwriter | Loan Analyst | |
| Average age | 44 | 45 |
| Gender ratio | Male, 38.4% Female, 61.6% | Male, 43.2% Female, 56.8% |
| Race ratio | Black or African American, 9.2% Unknown, 2.5% Hispanic or Latino, 9.6% Asian, 5.6% White, 72.7% 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% |