Business & Finance
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.
Median salary
$74,180
Typical range
$38k – $146k
Job outlook
+2% (about average)
AI exposure
Plan a path to Loan Officers
Education
Typical entry: Bachelor's degree
Plan my path to this →Typical progression
Loan Officers Intern
Internship
$36,000
~4 mos to advance
Junior Loan Officers
Entry / Junior
$38,490
~2 yrs to advance
Loan Officers
Established
$74,180
~3 yrs to advance
Senior Loan Officers
Senior
$109,980
Internships are a common on-ramp here — they speed up landing that first role and improve your odds, which is why the Safe and High-ceiling plans build one in.
Key skills
A typical day
- •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.
Fields of study
Any field
Top colleges for Business & Finance
Explore all- University of Pennsylvania6% admit · $112,000 grad pay
- Massachusetts Institute of Technology4% admit · $124,000 grad pay
- Harvard University4% admit · $119,000 grad pay
- University of California, Berkeley11% admit · $97,000 grad pay
- New York University12% admit · $84,000 grad pay
Reputation-based selection; stats shown are outcome data per school.