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
|
Job Title Examples: |
Commercial Banker Credit Counselor Financial Aid Counselor See more job title examples |
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
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 is a very high-wage career. It pays well above the statewide median wage.
Wages for Loan Officers *
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.
Employment
In Minnesota, there are 8020 workers employed in this medium-sized career.
Where do Loan Officers most often work?
- Credit Intermediation and Related Activities
- Motor Vehicle and Parts Dealers
- Securities, Commodity Contracts, and Other Financial Investments and Related Activities
- Data Processing, Hosting, and Related Servicesssss
- Management of Companies and Enterprises
Current Demand
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