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* ELMI Occupation Profile - Loan Officers *
 
Loan Officers
(O*NET 13-2072.00, SOC 13-2072)
What they do
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, and loan underwriters.
 
Also called:
Branch Manager, Business Banking Officer, Commercial Banker, Commercial Loan Officer, Corporate Banking Officer, Loan Officer, Mortgage Loan Officer, Mortgage Loan Originator, Portfolio Manager, Relationship Manager
 
 
Wages
Vermont - 2018
Percentile1HourlyYearly
10% $ 16.87   $35,090  
25% $ 20.54   $42,730  
Median $ 28.20   $58,650  
75% $ 39.99   $83,170  
90% $ 52.78   $109,770  
 
Average $ 31.90   $66,350  
1 What are Percentile Wages?
More at CareerOneStop
 
Industries of Employment
United States - 2016
IndustryPercent of total
  • Credit intermediation and related activities
80%
  • Management of companies and enterprises
6%
  • Motor vehicle and parts dealers
4%
  • Self-employed workers, all industries
3%
  • Securities, commodity contracts, and other financial investments and related activities
2%
More at BLS
 
Knowledge
People in this career often know a lot about:
  • Customer and Personal Service
    Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
  • Economics and Accounting
    Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
  • English Language
    Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
  • Mathematics
    Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
  • Sales and Marketing
    Knowledge of principles and methods for showing, promoting, and selling products or services. This includes marketing strategy and tactics, product demonstration, sales techniques, and sales control systems.
More at O*NET
 
Skills
People in this career often have these skills:
  • Active Listening
    Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
  • Speaking
    Talking to others to convey information effectively.
  • Judgment and Decision Making
    Considering the relative costs and benefits of potential actions to choose the most appropriate one.
  • Reading Comprehension
    Understanding written sentences and paragraphs in work related documents.
  • Critical Thinking
    Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
More at O*NET
 
Interests
People in this career often prefer these work environments:
  • Conventional
    Conventional occupations frequently involve following set procedures and routines. These occupations can include working with data and details more than with ideas. Usually there is a clear line of authority to follow.
  • Enterprising
    Enterprising occupations frequently involve starting up and carrying out projects. These occupations can involve leading people and making many decisions. Sometimes they require risk taking and often deal with business.
  • Social
    Social occupations frequently involve working with, communicating with, and teaching people. These occupations often involve helping or providing service to others.
What are your interests? Take the O*NET Interest Profiler
 
Work Styles
People in this career will do well at jobs that need:
  • Integrity
    Job requires being honest and ethical.
  • Attention to Detail
    Job requires being careful about detail and thorough in completing work tasks.
  • Stress Tolerance
    Job requires accepting criticism and dealing calmly and effectively with high stress situations.
  • Achievement/Effort
    Job requires establishing and maintaining personally challenging achievement goals and exerting effort toward mastering tasks.
  • Dependability
    Job requires being reliable, responsible, and dependable, and fulfilling obligations.
More at O*NET
 
Other Resources
  • CareerOneStop
    resource for job seekers, students, businessess and career professionals
  • O*NET Online
    nation's primary source of occupational information
 
Related Occupations
More at O*NET
 
 
Career Video
 
Projected Employment
 Vermont
2016 employment 615
2026 employment 652
Annual percent change
(compounded)
0.6%
Annual projected job openings
(due to change and separations)
54
More at Occupational Projections
 
Education and Experience:
  • Typical education needed for entry
    Bachelor's degree
  • Work experience in a related occupation
    No work experience
  • Typical on-the-job training needed to attain competency
    1 to 12 months on-the-job training
Based on BLS Education and Training Classifications
 
Job Zone
Medium Preparation Needed
  • Specific Vocational Preparation Range
    (6.0 to < 7.0) - A typical worker will require over 1 year up to and including 2 years of training to achieve average performance in this occupation.
Based on O*Net Job Zones and SVP
 
Education Level
How much education do most people in this career have?
Education level Percent of
U.S. Workers
Doctoral or professional degree
or post-MA certificate
  0%
Master's degree or
post-BA certificate
  2%
Bachelor's degree   32%
Associate's degree   13%
Certificate or some college,
no degree
  27%
High school diploma
or equivalent
  20%
Less than high school diploma   7%
More at O*NET
 
Abilities
People in this career often have talent in:
  • Oral Comprehension
    The ability to listen to and understand information and ideas presented through spoken words and sentences.
  • Oral Expression
    The ability to communicate information and ideas in speaking so others will understand.
  • Speech Clarity
    The ability to speak clearly so others can understand you.
  • Deductive Reasoning
    The ability to apply general rules to specific problems to produce answers that make sense.
  • Inductive Reasoning
    The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
More at O*NET
 
Work Activities
In general, what you might do:
  • Getting Information
    Observing, receiving, and otherwise obtaining information from all relevant sources.
  • Establishing and Maintaining Interpersonal Relationships
    Developing constructive and cooperative working relationships with others, and maintaining them over time.
  • Making Decisions and Solving Problems
    Analyzing information and evaluating results to choose the best solution and solve problems.
  • Interacting With Computers
    Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
  • Processing Information
    Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.
More at O*NET
 
Detailed Work Activities
What you might do in a day:
  • Assess financial status of clients.
  • Gather financial records.
  • Interview clients to gather financial information.
  • Interpret financial information for others.
  • Verify accuracy of financial information.
More at O*NET
 
Tasks
On the job, you would:
  • Analyze applicants' financial status, credit, and property evaluations to determine feasibility of granting loans.
  • Obtain and compile copies of loan applicants' credit histories, corporate financial statements, and other financial information.
  • Meet with applicants to obtain information for loan applications and to answer questions about the process.
  • Explain to customers the different types of loans and credit options that are available, as well as the terms of those services.
  • Review loan agreements to ensure that they are complete and accurate according to policy.
More at O*NET
 
O*NET in-it

This page includes information from the O*NET 24.0 Database by the U.S. Department of Labor, Employment and Training Administration (USDOL/ETA). Used under the CC BY 4.0 license. O*NET® is a trademark of USDOL/ETA.

BLS

This page includes information produced in cooperation with the U.S. Bureau of Labor Statistics, Occupational Employment Statistics and State Occupational Projecions programs.

 
 
 
 
Vermont.gov State of Vermont Department of Labor