Loan Officer
Loan Officers
SOC 13-2072
How Much Does a Loan Officer Make?
The national median salary for a Loan Officer is $69,990 per year ($33.65/hour), according to the Bureau of Labor Statistics (May 2024 data).
That's 7% above the national median salary of $65,470 for all occupations.
How to Become a Loan Officer
Bachelor's preferred. NMLS licensing required for mortgage.
NMLS license required for mortgage lending
Loan Officer Job Outlook
Decline — the BLS projects -2% growth from 2024 to 2034.
This occupation is projected to see fewer positions. However, retirements and turnover still create openings each year.
About 21,100 positions are expected to open annually, from both new roles and replacement needs.
DECLINING due to online lending automation. Still 21K openings from turnover.
What It's Like to Work as a Loan Officer
This is primarily desk-based or low-physical-effort work.
Some employers offer remote or hybrid arrangements.
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Career data sourced from the U.S. Bureau of Labor Statistics Occupational Outlook Handbook, 2024-34 projections (released August 2025). Salary data: BLS OEWS May 2024.
View on BLS.gov