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Career Readiness

Loan Officer

What Loan Officers Do
Loan officers evaluate, authorize, or recommend approval of loan applications for people and businesses. Most loan officers are employed by commercial banks, credit unions, mortgage companies, and related financial institutions. 

How to Become a Loan Officer
Most loan officers need a bachelor’s degree and receive on-the-job training. Loan officers must be licensed.

Pay - Job Outlook
The median annual wage for loan officers was $63,430 in May 2015. Employment of loan officers is projected to grow 8 percent by 2024, about as fast as the average for all occupations.

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