Top Skills for This Career
BLS identifies these as the three highest-rated skills for this detailed occupation. TrustInEd adds the plain-language explanations so visitors understand what each skill means.
Identifying problems, considering possible solutions, and choosing appropriate actions.
Understanding customer needs and providing helpful, professional service.
Adjusting effectively when priorities, conditions, tools, or expectations change.
How Do You Prepare for This Career?
BLS describes the typical preparation for this occupation. Requirements can vary by employer, state, licensing rules and individual circumstances.
How to Become One
Loan officers typically need a bachelor’s degree and on-the-job training. Mortgage loan officers must be licensed. PayThe median annual wage for loan officers was $76,690 in May 2025. Job Outlook Employment of loan officers is projected to grow 1 percent from 2025 to 2035, slower than the average for all occupations. Despite limited employment growth, about 17,100 openings for loan officers are projected each year, on average, over the decade. Most of those openings are expected to result from the need to replace workers who transfer to different occupations or exit the labor force, such as to retire. State & Area Data Explore resources for employment and wages by state and area for loan officers. Similar Occupations Compare the job duties, education, job growth, and pay of loan officers with similar occupations. More Information, Including Links to O*NET Learn more about loan officers by visiting additional resources, including O*NET, a source on key characteristics of workers and occupations.
Your Next Step
Compare colleges and education options that can support the typical entry-level education for this career.
Pay
The median annual wage for loan officers was $76,690 in May 2025. Job Outlook Employment of loan officers is projected to grow 1 percent from 2025 to 2035, slower than the average for all occupations. Despite limited employment growth, about 17,100 openings for loan officers are projected each year, on average, over the decade. Most of those openings are expected to result from the need to replace workers who transfer to different occupations or exit the labor force, such as to retire. State & Area Data Explore resources for employment and wages by state and area for loan officers. Similar Occupations Compare the job duties, education, job growth, and pay of loan officers with similar occupations. More Information, Including Links to O*NET Learn more about loan officers by visiting additional resources, including O*NET, a source on key characteristics of workers and occupations.
Job Outlook
Employment of loan officers is projected to grow 1 percent from 2025 to 2035, slower than the average for all occupations. Despite limited employment growth, about 17,100 openings for loan officers are projected each year, on average, over the decade. Most of those openings are expected to result from the need to replace workers who transfer to different occupations or exit the labor force, such as to retire. State & Area Data Explore resources for employment and wages by state and area for loan officers. Similar Occupations Compare the job duties, education, job growth, and pay of loan officers with similar occupations. More Information, Including Links to O*NET Learn more about loan officers by visiting additional resources, including O*NET, a source on key characteristics of workers and occupations.
What They Do
Loan officers evaluate, authorize, or recommend approval of loan applications.
Work Environment
Most loan officers are employed by commercial banks, credit unions, mortgage companies, and other financial institutions. Most loan officers work full time, and some work more than 40 hours per week. Except for consumer loan officers, who spend most of their time in offices, these workers may travel to visit clients.
How to Become a Loan Officer
Loan officers typically need a bachelor’s degree and on-the-job training. Mortgage loan officers must be licensed.
Pay
The median annual wage for loan officers was $76,690 in May 2025.
Job Outlook
Employment of loan officers is projected to grow 1 percent from 2025 to 2035, slower than the average for all occupations.
Despite limited employment growth, about 17,100 openings for loan officers are projected each year, on average, over the decade. Most of those openings are expected to result from the need to replace workers who transfer to different occupations or exit the labor force, such as to retire.
State & Area Data
Explore resources for employment and wages by state and area for loan officers.
Similar Occupations
Compare the job duties, education, job growth, and pay of loan officers with similar occupations.
More Information, Including Links to O*NET
Learn more about loan officers by visiting additional resources, including O*NET, a source on key characteristics of workers and occupations.
Work Environment
Most loan officers are employed by commercial banks, credit unions, mortgage companies, and other financial institutions. Most loan officers work full time, and some work more than 40 hours per week. Except for consumer loan officers, who spend most of their time in offices, these workers may travel to visit clients.
How to Become a Loan Officer
Loan officers typically need a bachelor’s degree and on-the-job training. Mortgage loan officers must be licensed.
Pay
The median annual wage for loan officers was $76,690 in May 2025.
Job Outlook
Employment of loan officers is projected to grow 1 percent from 2025 to 2035, slower than the average for all occupations.
Despite limited employment growth, about 17,100 openings for loan officers are projected each year, on average, over the decade. Most of those openings are expected to result from the need to replace workers who transfer to different occupations or exit the labor force, such as to retire.
State & Area Data
Explore resources for employment and wages by state and area for loan officers.
Similar Occupations
Compare the job duties, education, job growth, and pay of loan officers with similar occupations.
More Information, Including Links to O*NET
Learn more about loan officers by visiting additional resources, including O*NET, a source on key characteristics of workers and occupations.
State & Area Data
Explore resources for employment and wages by state and area for loan officers.
Similar Occupations
Compare the job duties, education, job growth, and pay of loan officers with similar occupations.
More Information, Including Links to O*NET
Learn more about loan officers by visiting additional resources, including O*NET, a source on key characteristics of workers and occupations.
More Information
Learn more about loan officers by visiting additional resources, including O*NET, a source on key characteristics of workers and occupations.
Take the Next Step
Find Education Programs
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Start with ED →Career data and occupational profile text are sourced from the U.S. Bureau of Labor Statistics Occupational Outlook Handbook and Employment Projections program. Education requirements are typical entry-level requirements and may vary by employer, state, occupation or individual circumstance. View the official BLS profile.