Loan Officers

Significant Points

• About 9 out of 10 loan officers work for commercial banks, savings institutions, credit unions, and related financial institutions.
• Loan officer positions generally require a bachelor's degree in finance, economics, or a related field; training or experience in banking, lending, or sales is advantageous.
• Slower-than-average employment growth is expected despite rising demand for loans, because technology is making for simpler and faster processing and approval of loans.
• Earnings often fluctuate with the number of loans generated, rising substantially when the economy is good and interest rates are low.

source: OOH; about this section