DETAILED OCCUPATION DATA

13-2072 Loan Officers

Occupational Description:
Evaluate, authorize, or recommend approval of commercial, real estate, or credit loans. Advise borrowers on financial status and payment methods. Includes mortgage loan officers and agents, collection analysts, loan servicing officers, loan underwriters, and payday loan officers.

Occupational Employment Statistics(OES) Wage Data
Wages Updated to First Quarter, 2020
 Percentiles
GeographyEmploymentEmp SE*MeanMean SE*10th25thMedian75th90th
Minnesota 8,550299$39.26/hr$1.06/hr$20.72/hr$26.65/hr$35.96/hr$48.74/hr$62.43/hr
U S 308,3703,700$36.99/hr$0.22/hr$15.80/hr$21.76/hr$30.71/hr$45.11/hr$64.39/hr
*SE = Standard error, a measure of the statistical reliability of the estimate.


Leading Industries for Loan Officers
IndustryOES EmploymentOES Median Wage
Financial Activities7,620$36.18/hr
Trade, Transportation and Utilities370$34.23/hr
Professional and Business Services350$32.82/hr
Public Administration160$34.66/hr
Other Services30$32.21/hr
Other Regional Data For Loan Officers
Geography (click title for details)OESProjections
EmploymentMedian Wage% Change 2023 - 2025
Minnesota 8,550 $35.96/hr -4.1%
Minneapolis-St Paul-Bloomington MN-WI MSA 5,920 $38.05/hr N/A
Seven County Mpls-St Paul, MN 5,590 $37.77/hr N/A
Central Minnesota 710 $29.41/hr N/A
Northwest Minnesota 670 $30.63/hr N/A
Southeast Minnesota 600 $34.95/hr N/A
Southwest Minnesota 590 $36.74/hr N/A
Northwest Balance of State 590 $30.15/hr N/A
Southeast Balance of State 490 $34.50/hr N/A
Fargo ND-MN MSA 420 $33.20/hr N/A
St Cloud MN MSA 410 $26.21/hr N/A
Southwest Balance of State 390 $35.92/hr N/A
Northeast Minnesota 310 $30.07/hr N/A
La Crosse WI-MN MSA 290 $25.62/hr N/A
Duluth MN-WI MSA 250 $29.54/hr N/A
Rochester MN MSA 220 $36.76/hr N/A
Northeast Balance of State 140 $28.69/hr N/A
Mankato-North Mankato MN MSA 110 $29.84/hr N/A
Grand Forks ND-MN MSA 110 $32.65/hr N/A
Related Occupations
Occupation
(click title for details)
OESProjections
EmploymentMedian Wage% Change 2023 - 2025
Tellers8,590$15.15/hr-6.9%
Billing and Posting Clerks and Machine Operators7,770$20.91/hr1.5%
Loan Interviewers and Clerks5,760$20.35/hr-4.5%
Personal Financial Advisors3,900$38.76/hr1.8%
Credit Analysts2,080$36.21/hr-3.6%
Brokerage Clerks2,050$24.24/hr-2.9%
Tax Preparers1,350$26.02/hr2.2%
Tax Examiners, Collectors, and Revenue Agents1,170$28.87/hr1.8%
New Accounts Clerks980$19.45/hr-6.9%
Tasks for Loan Officers