Loan Officers
Job Zone 4 - Considerable preparation needed
Evaluate, authorize, or recommend approval of commercial, real estate, or credit loans. Advise borrowers on financial status and payment methods. Includes mortgage loan officers and agents, collection analysts, loan servicing officers, loan underwriters, and payday loan officers.
Median pay: $76,690/yr (U.S. national, May 2025)
Typical range nationwide (10th–90th percentile). This is a population snapshot, not a personal prediction - actual pay varies by location, employer, and experience.
Job outlook: +1.7% projected growth, 2024–2034 — about as fast as average.
About 20,300 openings per year, on average, over the decade.
Typical entry-level education: Bachelor's degree.
Source: U.S. Bureau of Labor Statistics, OEWS and Employment Projections.
• Meet with applicants to obtain information for loan applications and to answer questions about the process.
• Analyze applicants' financial status, credit, and property evaluations to determine feasibility of granting loans.
• Approve loans within specified limits, and refer loan applications outside those limits to management for approval.
• Explain to customers the different types of loans and credit options that are available, as well as the terms of those services.
• Submit applications to credit analysts for verification and recommendation.
• Review loan agreements to ensure that they are complete and accurate according to policy.
• Review and update credit and loan files.
• Obtain and compile copies of loan applicants' credit histories, corporate financial statements, and other financial information.
What's the median pay for Loan Officers?
The median pay for Loan Officers is $76,690 per year, per the U.S. Bureau of Labor Statistics.
What's the job outlook for Loan Officers?
Employment for Loan Officers is projected to change +1.7% from 2024 to 2034 - about as fast as average.
What education is typically required for Loan Officers?
Typical entry-level education: Bachelor's degree.
How many job openings are there each year for Loan Officers?
About 20,300 openings per year, on average, over the decade.