1. Skip to content

Loan Officers

Make decisions about who gets approved for loans.

Quick Facts

Wages:

Well above the statewide median
$38.66 / hour    Read more about wages

Outlook:

Below statewide average
Growth rate:  1.3%    Read more about outlook

Education:

High School or less is typically required.

On the Job:

Typical Work Tasks
  • Gather financial records.
  • Interview clients to gather financial information.
  • Authorize financial actions.
  • Verify accuracy of financial information.
Read more about the job

Job Title Examples:

Commercial Banker
Credit Counselor
Financial Aid Counselor

See more job title examples

View All Career Information


 

O*NET in-it

This page includes information from the O*NET 24.2 Database by the U.S. Department of Labor, Employment and Training Administration (USDOL/ETA). Used under the CC BY 4.0 license. O*NET® is a trademark of USDOL/ETA.



Wages & Outlook

 

Typical Wages   This career pays well above the median wage.

Wages listed below are for a variety of experience and education levels. Make sure that you research the typical entry-level education and work experience and training requirements for this occupation.

This career: $38.66
Statewide median: $24.25

 

This is a very high-wage career. It pays well above the statewide median wage.


Wages for Loan Officers *

Area Low Median High
U S
$23.48 $32.23 $48.64
Minnesota
$29.11 $38.66 $51.3
Central Minnesota
$29.08 $38.42 $55.59
Northeast Minnesota
$23.55 $30.99 $46.88
Northwest Minnesota
$24.78 $36.45 $47.85
Southeast Minnesota
$29.1 $38.2 $50.52
Southwest Minnesota
$29.17 $38.2 $50.83
Seven County Mpls-St Paul, MN
$29.93 $39.57 $53.1

* "Low" indicates 25% of workers earn less and 75% earn more.
"Median" indicates 50% of workers earn less and 50% earn more.
"High" indicates 75% of workers earn less and 25% earn more.

See more wage detail.

 

Employment

In Minnesota, there are 8020 workers employed in this medium-sized career.

Where do Loan Officers most often work?

 

Current Demand

filled star

We're sorry.

The page you are looking for does not exist. Please try using the navigation links above to find what you're looking for.