All careersBusiness & finance

Loan Officer

$74,180
median pay per year
full range coming in the next data update

What the job actually is

Evaluate and approve loan applications, guiding borrowers through mortgages, business, or personal loans.

Where you work

Banks and lending offices, some remote

The hours

Regular hours, some evenings for clients

By the numbers

May 2024–25 BLS wage data · 2024–34 BLS employment projections.

Median pay
$74,180
per year
What most earn
range coming soon
Openings a year
~20,300
projected, 2024–34
Outlook to 2034
+2%
About average
Working in the U.S.
301,400
people, nationwide

Openings a year counts new jobs plus the ones that open when people retire or move on — a truer picture of your odds than growth alone.

“Median” means half earn more and half earn less. Your city, employer, and years on the job move it a lot — that is what the 10th-to-90th range shows.

How you get in

Typical starting education

Bachelor's degree

Training path: Moderate on-the-job training, paid.

License or certification

Mortgage loan officers must register with the national NMLS system and, in most states, hold a license.

You can earn while you train. This field has a genuinely paid pathway in — an apprenticeship, a paid academy, or employer-funded training — so you draw a paycheck instead of taking on debt to learn it.

What it takes

Financial judgmentCommunicationSalesAttention to detail

The honest take

You can start with a high school diploma and learn on the job, though pay often leans on commission.

Standard Occupational Classification 13-2072. Pay, employment, and outlook from the U.S. Bureau of Labor Statistics (OEWS wage survey and 2024–34 employment projections). See something off? Tell us.