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.
SOC: 13-2072.00
Common Job Titles
Commercial Loan OfficerFinancial Aid CounselorLoan CounselorLoan 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
| 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 AccessMicrosoft DynamicsMicrosoft ExcelMicrosoft Office softwareMicrosoft OutlookMicrosoft PowerPointMicrosoft WordOracle PeopleSoftSAP softwareZoom
Technology Skills
1003 Uniform Residential Loan ApplicationAmortization loan softwareBankers Systems Rembrandt Lending SystemBottom Line LoanMaster Loan ServicingCGI-AMS BureauLink EnterpriseCGI-AMS CACS EnterpriseCGI-AMS StrataCalifornia Infinite LPS
Tools & Equipment
10-key calculatorsAutodialersDesktop computersNotebook computersPersonal computersPersonal digital assistants PDAScannersTablet computers