Career overview

Loan Officers

O*NET-SOC 13-2072.00

Median pay / yr$74,180

OutlookBelow Average

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.

What it takes

The skills, knowledge, and credentials employers look for in Loan Officers.

Skills employers look for

Active ListeningGiving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
SpeakingTalking to others to convey information effectively.
Judgment and Decision MakingConsidering the relative costs and benefits of potential actions to choose the most appropriate one.
Reading ComprehensionUnderstanding written sentences and paragraphs in work-related documents.
Critical ThinkingUsing logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions, or approaches to problems.

Knowledge areas

Customer and Personal ServiceKnowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
Economics and AccountingKnowledge of economic and accounting principles and practices, the financial markets, banking, and the analysis and reporting of financial data.
English LanguageKnowledge of the structure and content of the English language including the meaning and spelling of words, and rules of composition and grammar.
MathematicsKnowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
Sales and MarketingKnowledge of principles and methods for showing, promoting, and selling products or services. This includes marketing strategy and tactics, product demonstration, sales techniques, and sales control systems.