Business and Finance · Career brief

Loan Officers

Is it a good career to pursue?

The 30-second read

Loan Officers at a glance

Six signals to look at before you spend time on the full guide.

1Pay

$76,690

Above the middle on pay

2025 national median. Above the middle of ChooseField careers for pay.

2Demand

1.1%

Slow projected growth

Projected employment growth for 2025–2035. Below the middle of ChooseField careers for growth.

3Openings

17,100

Lots of annual openings

Average openings per year in 2025–2035, including replacement hiring. Top quarter for openings among careers on ChooseField.

4Route in

Bachelor's degree

A bachelor's degree is typically expected

Bachelor's degree + related experience. Related work experience is typically required.

5The work

Structured / detail

Accuracy, process, and organized information matter

Meet with applicants to obtain information for loan applications and to answer questions about the process.

6The catch

Know this first

What could make this a poor fit

BLS lists less than 5 years of related experience. This is normally reached through feeder roles, not directly from school.

ChooseField take

The standout national signal is opening volume; it ranks in the top quarter of ChooseField careers. It makes the most sense if structured, detail-oriented work appeals to you and you are comfortable with a bachelor's-degree path. Main tradeoff: BLS lists less than 5 years of related experience. This is normally reached through feeder roles, not directly from school.

Before choosing, compare:Compensation, Benefits, and Job Analysis Specialists Accountant / Auditor Insurance Underwriters

National labor-market measures: BLS 2025 wages and 2025–2035 projections. Work-profile signals: O*NET. See sources and caveats.

Compare Loan Officers with another field Explore rankings in Business and Finance Open shareable infographic

Want the evidence behind the snapshot?

Market and path

Pay, outlook, and the route in

National median pay (2025)

$76,690

A midpoint for workers nationwide, not a starting salary.

2025–2035 outlook

1.1%employment growth17,100openings per year

Openings include replacement hiring, not only newly created jobs.

Typical entry route

Bachelor's degree; Prior related experience: less than 5 years; More than one month and up to 12 months of on-the-job training, in addition to any qualifying education or licensing

BLS reports the usual education, related experience, and on-the-job training, not a guaranteed minimum for every employer.

2025 employment

283,000

Estimated workers in this occupation across the United States.

Source: BLS 2025 wages and 2025–2035 occupational projections ↗ · Loan officers (13-2072).

Actual responsibilities

What you would be trusted to own

Selected O*NET task statements, not a list of traits that applies to almost every career.

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.
Review loan agreements to ensure that they are complete and accurate according to policy.

Decision-changing realities

What could make this a poor fit

BLS lists less than 5 years of related experience. This is normally reached through feeder roles, not directly from school.

Work profile

What the work emphasizes

O*NET importance scores. Bars are relative to the highest score shown within this chart.

Getting Information4.5
Evaluating Information to Determine Compliance with Standards4.5
Establishing and Maintaining Interpersonal Relationships4.3
Processing Information4.3
Analyzing Data or Information4.3

Interest profile

Career interests

O*NET interest scores describe work someone may enjoy, not personality requirements. Bars are relative to the highest score shown within this chart.

Relative mix of the interest scores below, not percentages of your workday.

Conventional6.1
Enterprising5.0
Social3.7
Investigative2.3
Realistic1.4
Artistic1.0

Preparation

What the training must make you competent at

Subject matter

Economics and Accounting Mathematics Sales and Marketing Law and Government

Before choosing the major or training

Run a cheaper test first

Work through a realistic case with incomplete information: make a recommendation, show the numbers behind it, and defend the tradeoffs.
Ask someone doing this job which feeder role built the required experience, what that earlier job paid, and how long the transition actually took.

The fuller career guide

How the evidence fits together

Pay and demand: reading the benchmark

The pay and outlook figures describe Loan officers nationally. They do not establish the salary or number of vacancies available in your area.

Median pay is the middle wage across workers, not a starting offer. Projected openings include replacements as well as growth; neither measure predicts an individual worker's job security.

Before choosing a program

O*NET lists Active Listening, Speaking, Reading Comprehension among this occupation's skills. Ask a program to show the assignments, supervised practice, and assessment that develop these skills. Compare those examples with local job descriptions.

Common questions

Questions people ask about this career

Can I enter this occupation without related work experience?

Prior related experience: less than 5 years. Look for the preceding roles and promotion route before treating this as a first job.

What should I check before paying for training?

Get the full prerequisite and completion timeline, total cost, placement arrangements, and any licensing eligibility in writing. Ask local employers whether they hire graduates from the route you are considering and whether paid training is available.

Adjacent options