Loan Officers
Also called: Agricultural Loan Officer, Bank Officer, Bank Representative, Banking Services Officer, Branch Banker, Branch Lending Officer, Business Banker, Business Banking Officer
Evaluate, authorize, or recommend approval of commercial, real estate, or credit loans.
What loan officers do
Typical tasks
- Meet with applicants to obtain information for loan applications and to answer questions about the process.
- Analyze applicants' financial status, credit, and property evaluations to determine feasibility of granting loans.
- Approve loans within specified limits, and refer loan applications outside those limits to management for approval.
- Explain to customers the different types of loans and credit options that are available, as well as the terms of those services.
- Submit applications to credit analysts for verification and recommendation.
- Review loan agreements to ensure that they are complete and accurate according to policy.
- Review and update credit and loan files.
- Obtain and compile copies of loan applicants' credit histories, corporate financial statements, and other financial information.
- Work with clients to identify their financial goals and to find ways of reaching those goals.
- Handle customer complaints and take appropriate action to resolve them.
- Stay abreast of new types of loans and other financial services and products to better meet customers' needs.
- Market bank products to individuals and firms, promoting bank services that may meet customers' needs.
Typical path into the job (BLS)
Loan Officers salary
The median annual wage for loan officers is $76,690 (BLS OEWS May 2025; BLS Employment Projections 2025–35, national). The lowest 10 percent earn less than $39,430 and the highest 10 percent earn more than $153,180. The mean annual wage is $87,790.
The mean hourly wage of $42.00 is 5.8× the federal minimum wage of $7.25. State minimums are higher in most large states. Minimum wage by state →
How does your pay compare with people your age?
Your numbers are not sent or stored. The comparison uses this occupation's BLS wage percentiles, adjusted for age with BLS median weekly earnings by age group (Q3 2026).
Pay by percentile
Annual wage percentiles from the BLS Occupational Employment and Wage Statistics (OEWS). Percentiles are a good proxy for pay by experience.
Projected pay for Loan Officers (3, 5 and 10 years)est.
Today $76,690 → in 3 years $81,600 → in 5 years $85,100 → in 10 years $94,500 (10-year range $81,200–$109,700). The model assumes pay growth of +2.1% per year.
What drives the annual growth rate
Projected pay = current pay × (1 + annual growth)^years. The annual growth rate starts from a base wage-growth rate and adds or subtracts labor demand (BLS projected employment growth), wage momentum and AI replacement risk for each occupation. Projections are not guarantees. How it is calculated →
Outlook score for Loan Officers
Each component is a percentile rank among all occupations in the same country (0–100). Weights: labor demand 25, wage momentum / openings 15, pay level 15, AI resistance 25, aging workforce 10 (Japan only), entry barrier 10.
Will AI replace Loan Officers? AI replacement risk
How AI is changing this job
A written analysis for this occupation is being prepared.
AI replacement risk compares the parts of a job that are easy to hand to AI or software (processing information, documentation, repetitive computer work) with the parts that are hard to automate (physical work, working closely with people, judgment in unpredictable settings), using O*NET work activities, work context, skills and knowledge. The result is a relative position among all occupations in the country, scaled to 0–100%. Methodology →
Labor demand for Loan Officers
Employment projections are from the BLS Employment Projections program (2025–35). Annual openings include both new jobs and replacement of workers who leave the occupation.
Skills, education and requirements for Loan Officers
Key skills
O*NET skill level ratings (0–7).
Key knowledge areas
What the work involves
Important abilities
Education of workers
Training before entry
Related work experience
Job Zone 4 — considerable preparation needed (O*NET)
Difficulty of entry: ★★★☆☆ Moderate (from education, training, experience and Job Zone)
How to become loan officers
A step-by-step guide for this occupation is being prepared. The education, training and experience data above show the typical path.
Career path and how to earn more as loan officers
Career-path guidance is being prepared. Pay by percentile is shown in the Pay section.