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.
Also called: Agricultural Loan Officer, Bank Officer, Bank Representative, Banking Services Officer, Branch Banker, Branch Lending Officer
Median pay
$76,690
per year, U.S.
Pay range (10th–90th)
$39,430 – $153,180
People employed
274,330
Holland code
CES
Conventional · Enterprising · Social
Updated October 2026 · Data: O*NET 31.0 and BLS OEWS May 2025 · How we match careers
Is this career right for you?
These are the things that stand out in this job compared with other U.S. jobs (O*NET 31.0 work context). Answer honestly.
- 1.Do you want a job with little physical risk?
- 2.Do you enjoy serving customers or the public?
- 3.Are you comfortable sitting at a desk most of the day?
- 4.Are you happy talking and working with people most of the day?
- 5.Do you want a lot of freedom to make your own decisions?
The hard parts
- Tight deadlines are common
Loan Officers pay by state
Highest-paying states
Annual median pay by state (50 states and DC with published data). Source: BLS OEWS May 2025.
What loan officers do
- 01Meet with applicants to obtain information for loan applications and to answer questions about the process.
- 02Analyze applicants' financial status, credit, and property evaluations to determine feasibility of granting loans.
- 03Approve loans within specified limits, and refer loan applications outside those limits to management for approval.
- 04Explain to customers the different types of loans and credit options that are available, as well as the terms of those services.
- 05Submit applications to credit analysts for verification and recommendation.
- 06Review loan agreements to ensure that they are complete and accurate according to policy.
Skills that matter most
- Active Listening
- Speaking
- Reading Comprehension
- Critical Thinking
- Writing
- Mathematics
Knowledge
- Customer and Personal Service
- Economics and Accounting
- English Language
- Mathematics
- Sales and Marketing
Work styles that stand out
- Dependability
- Attention to Detail
- Integrity
- Cautiousness
- Social Orientation
Education and first steps
Share of workers by required education, as reported to O*NET.
How people get started
- Usually needs a bachelor's degree (O*NET Job Zone 4).
- Related work experience: over 4 years, up to and including 6 years.
- On-the-job training: over 6 months, up to and including 1 year.
Most common answers from O*NET 31.0 Education, Training and Experience.
Interest fit (Holland code)
O*NET occupational interest scores, scale 1–7. Take the Free Career Test to compare with your own.
Career changes
Change from loan officers
- Securities, Commodities, and Financial Services Sales Agents93% · +3%
- Financial Managers90% · +117%
- Real Estate Brokers82% · −5%
- Compensation, Benefits, and Job Analysis Specialists82% · +2%
- Brokerage Clerks81% · −14%
Change into loan officers
Jobs whose skills carry over best (skill match, their median pay).
- Securities, Commodities, and Financial Services Sales Agents93% · $78,660
- Loan Interviewers and Clerks89% · $50,020
- Insurance Sales Agents88% · $62,280
- Real Estate Brokers85% · $73,220
- New Accounts Clerks84% · $47,670
Majors that lead here
- Finance, General
- Credit Management
From the NCES CIP 2020 to SOC 2018 crosswalk.