Loan Officers
Business and Financial Operations
Meets with applicants to collect facts for the application and to explain available loan types, terms, and payment options. Gathers credit histories, property evaluations, and, for business borrowers, corporate financial statements, then judges whether the loan is feasible. Approves requests within set limits or refers them to management, submits applications to credit analysts when needed, and checks loan agreements and files for completeness and accuracy against policy. Keeps credit and loan files current as the case moves along. Works well for people who prefer meeting applicants, working through numbers, and making approval decisions within clear rules.
Typical education: Bachelor’s Degree (4-year)
Annual Median Wage in Field (2025)
$76'690
Median Wage Market Position
$76'690
What you might do
- Judge whether credit and income support the loan
- Meet applicants to collect facts for a loan
- Approve loans that fall within your lending limit
- Describe loan types, terms, and payment options
- Pull credit histories and financial statements
- Read loan papers for completeness and accuracy
Skills that matter
- Meeting applicants to collect loan facts
- Weighing credit, income, and property value
- Approving loans inside authorized limits
- Explaining loan types and payment terms
- Checking loan agreements against policy
- Compiling credit histories and financial statements
AI & the future of this role
Credit scoring, document review, and option comparisons are areas where models could take over large shares of the workload. Relationship-building with borrowers may still help close complex deals, but the evaluation core looks especially vulnerable.
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Includes O*NET® 30.3 Database information by USDOL/ETA under CC BY 4.0; modified by LostInCareer. Wage/outlook from BLS. Attribution details