Loan Officers
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.
Common Job Titles
- Commercial Loan Officer
- Financial Aid Counselor
- Loan Counselor
- Loan Officer
Wage Data According to the Bureau of Labor Statistics
Annual wage data for Loan Officers (2024)
Estimated Total Employment (U.S.)
290,530
Wage Distribution by Percentile
Line chart of annual wages by percentile. U.S. is the solid line. 10th percentile: U.S. $38,490. 25th percentile: U.S. $50,460. 50th percentile: U.S. $74,180. 75th percentile: U.S. $101,920. 90th percentile: U.S. $145,780. Use the left and right arrow keys to move between percentiles.
- U.S.
| Metric | U.S. |
|---|---|
| 10% of workers earn the following or less | $38,490 |
| 10% of workers earn the following or more | $145,780 |
| Workers on average earn | $86,020 |
+ indicates wage is at or above the BLS reporting cap ($239,200/year)
Skills & Requirements
Key competencies for this occupation, ranked by importance
- Customer and Personal Service4.7/5
- Economics and Accounting3.9/5
- English Language3.8/5
- Mathematics3.7/5
- Sales and Marketing3.5/5
Tools & Technology
Equipment and software commonly used in this occupation
In-Demand Technology
Frequently requested by employers in job postings
- Microsoft Access
- Microsoft Dynamics
- Microsoft Excel
- Microsoft Office software
- Microsoft Outlook
- Microsoft PowerPoint
- Microsoft Word
- Oracle PeopleSoft
- SAP software
- Zoom
Technology Skills
- 1003 Uniform Residential Loan Application
- Amortization loan software
- Bankers Systems Rembrandt Lending System
- Bottom Line LoanMaster Loan Servicing
- CGI-AMS BureauLink Enterprise
- CGI-AMS CACS Enterprise
- CGI-AMS Strata
- California Infinite LPS
Tools & Equipment
- 10-key calculators
- Autodialers
- Desktop computers
- Notebook computers
- Personal computers
- Personal digital assistants PDA
- Scanners
- Tablet computers