Occupations · Business and Financial Operations
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.
O*NET 30.3 Database (USDOL/ETA) · occupation code 13-2072.00
What it pays
A single “average salary” hides the spread. This is the whole distribution — the gap between the bottom and top bar is usually the number that matters.
BLS Occupational Employment and Wage Statistics, May 2024 · national, cross-industry · annual wage
Pay over time
Median up 59% between 2003 and 2024, before inflation. The band shows the 10th to 90th percentile.
BLS OEWS, one release per year. Before May 2011 only national estimates were published, so geography detail starts there.
Where the jobs are
| Metro area | Median wage | Employed |
|---|---|---|
| New York-Newark-Jersey City, NY-NJ-PA | $102,540 | 11,250 |
| Los Angeles-Long Beach-Anaheim, CA | $80,340 | 11,110 |
| Dallas-Fort Worth-Arlington, TX | $63,800 | 10,060 |
| Phoenix-Mesa-Scottsdale, AZ | $53,700 | 9,840 |
| Chicago-Naperville-Elgin, IL-IN-WI | $77,270 | 7,040 |
| Detroit-Warren-Dearborn, MI | $76,710 | 6,340 |
| Atlanta-Sandy Springs-Roswell, GA | $78,220 | 5,550 |
| Washington-Arlington-Alexandria, DC-VA-MD-WV | $94,840 | 5,260 |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD | $76,910 | 4,830 |
| Miami-Fort Lauderdale-West Palm Beach, FL | $71,980 | 4,660 |
| Charlotte-Concord-Gastonia, NC-SC | $81,160 | 4,550 |
| Minneapolis-St. Paul-Bloomington, MN-WI | $91,900 | 4,360 |
BLS OEWS May 2024, metropolitan estimates · the 12 areas with the most people in this occupation
Typical education to enter: Bachelor's degree · BLS Employment Projections 2024–34
What people in this job actually do
Ordered by how important the work is rated.
- 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.
- Review loan agreements to ensure that they are complete and accurate according to policy.
- Review and update credit and loan files.
- Obtain and compile copies of loan applicants' credit histories, corporate financial statements, and other financial information.
- Work with clients to identify their financial goals and to find ways of reaching those goals.
- Handle customer complaints and take appropriate action to resolve them.
- Supervise loan personnel.
- Stay abreast of new types of loans and other financial services and products to better meet customers' needs.
O*NET 30.3 task ratings, importance scale
Skills that matter most
Importance, rated 1 to 5.
O*NET 30.3 skills, importance scale
Software and tools
A dot marks what O*NET flags as in demand.
O*NET 30.3 software skills · hot-technology flag
What this work is actually like
Conditions rated against the average across all occupations — only what makes this job different is listed.
O*NET 30.3 Job Zones
Working conditions that stand out
O*NET 30.3 work context, frequency scale · observed 2020-08
How people actually get in
Share of workers by the education they hold.
O*NET 30.2 education, training and experience · observed 2020-08
What kind of person the work suits
Occupational interest profile, rated 1 to 7.
O*NET 30.2 occupational interests (RIASEC)
What you take with you
Skills rated for how well they transfer into other occupations.
O*NET 30.3 transferable skills, importance scale
Knowledge the work draws on
Abilities it leans on
O*NET 30.3 abilities and knowledge, importance scale
How this job is advertised
The same work is posted under many titles — this is what to search for.
O*NET 30.3 job titles reported for this occupation
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What changed since 2015
Comparing O*NET release 20.1 (2015-10-01) with 30.3 (2026-05-01). Signs, not colour alone, carry the meaning. 1 entries that were only relabelled between releases are left out.
Now listed 23
No longer listed 4
Diff across the O*NET releases held here in full since October 2015, following occupations through merges and retirements. O*NET re-surveys occupations on a rolling cycle, so “no change” can also mean “not re-surveyed”.
Related jobs
O*NET 30.3 related occupations
Also called
O*NET 30.3 alternative titles
The same work in Europe
| ESCO occupation | ISCO | Match |
|---|---|---|
| loan officer | 3312.5 | exact |
| mortgage broker | 3311.2.2 | close |
| mortgage loan underwriter | 3312.6 | broader |
| credit analyst | 3312.2.1 | broader |
| credit adviser | 3312.2 | broader |
Official ESCO ↔ O*NET crosswalk (ESCO Secretariat with USDOL/ETA)
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