Loan Officers
Also called: Commercial Loan Officer, Financial Aid Counselor, Loan Counselor, Loan OfficerEvaluate, 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.
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What the data says: AI could halve the time on 28 of its 30 tasks, yet jobs are projected to grow 1.1% by 2035. In the most exposed occupations, the squeeze shows up first among early-career workers. How to think about this →
About this projection
BLS builds AI into its projections where the research supports it: “BLS generally applies adjustments based on this research conservatively, where there is convincing evidence for a change.”
It also notes a limit: “BLS projection methods are not designed to capture extremely rapid technological change.”
On its AI exposure groups, BLS says exposure “does not imply job loss.”
Recent conditions
- In 2024, 2.8% of people in this work were unemployed, against 3.8% across all occupations Census ACS 2024, all workers in the Census group “Credit counselors and loan officers”
- From Sep 2025 to Aug 2026, 4.3 hires for every 10 job openings in finance and insurance, which employs about 84% of people in this work, against 7.3 across all industries BLS JOLTS
One box per opening, filled for each hire; hires beyond the openings are added in a lighter shade. Higher can mean openings get filled, or that people leave often; lower, that jobs go unfilled, or hiring is slow.4.3 this industry7.3 all industries
Median pay by state BLS OEWS May 2025, state estimates
Tap a state for its figures.
Median pay in every state
| State | Median | Middle half earn | Jobs |
|---|---|---|---|
| Alabama | $66,710 | $49,470 to $102,990 | 5,050 |
| Alaska | $72,800 | $44,780 to $88,000 | 490 |
| Arizona | $62,160 | $48,290 to $101,250 | 10,020 |
| Arkansas | $70,260 | $51,990 to $106,700 | 2,610 |
| California | $81,770 | $53,670 to $122,960 | 25,790 |
| Colorado | $94,520 | $60,730 to $125,430 | 3,230 |
| Connecticut | $95,730 | $63,790 to $121,360 | 2,220 |
| Delaware | $83,130 | $65,690 to $107,570 | 1,420 |
| District of Columbia | $92,890 | $64,940 to $125,720 | 370 |
| Florida | $71,090 | $49,200 to $100,550 | 18,830 |
| Georgia | $68,490 | $48,820 to $98,650 | 9,540 |
| Guam | $45,180 | $37,370 to $57,230 | 60 |
| Hawaii | $63,740 | $48,060 to $100,510 | 980 |
| Idaho | $71,070 | $49,730 to $102,630 | 2,030 |
| Illinois | $79,150 | $60,520 to $104,560 | 10,890 |
| Indiana | $72,960 | $50,380 to $98,960 | 4,790 |
| Iowa | $83,670 | $66,550 to $104,790 | 2,840 |
| Kansas | $86,970 | $63,930 to $125,800 | 3,540 |
| Kentucky | $62,090 | $47,860 to $92,990 | 3,940 |
| Louisiana | $61,110 | $49,000 to $83,490 | 2,810 |
| Maine | $81,900 | $60,120 to $108,400 | 1,060 |
| Maryland | $73,580 | $49,990 to $99,220 | 3,850 |
| Massachusetts | $101,600 | $79,760 to $136,940 | 4,470 |
| Michigan | $74,470 | $50,280 to $101,150 | 11,340 |
| Minnesota | $95,170 | $73,240 to $125,550 | 6,430 |
| Mississippi | $60,260 | $44,930 to $83,330 | 3,450 |
| Missouri | $73,660 | $51,300 to $98,270 | 7,050 |
| Montana | $71,570 | $55,830 to $96,100 | 1,180 |
| Nebraska | $79,840 | $61,110 to $104,510 | 2,710 |
| Nevada | $64,500 | $46,260 to $111,170 | 2,580 |
| New Hampshire | $80,660 | $62,410 to $123,320 | 1,120 |
| New Jersey | $92,920 | $62,740 to $131,870 | 6,200 |
| New Mexico | $62,610 | $48,040 to $90,040 | 1,140 |
| New York | $95,710 | $62,670 to $148,890 | 10,840 |
| North Carolina | $75,920 | $57,680 to $100,550 | 10,700 |
| North Dakota | $84,650 | $63,320 to $102,540 | 1,370 |
| Ohio | $76,370 | $50,550 to $103,260 | 9,880 |
| Oklahoma | $72,990 | $49,100 to $101,570 | 4,100 |
| Oregon | $94,440 | $64,170 to $126,740 | 4,220 |
| Pennsylvania | $69,300 | $49,150 to $99,750 | 8,140 |
| Puerto Rico | $35,730 | $30,260 to $43,510 | 2,360 |
| Rhode Island | $77,250 | $55,640 to $99,930 | 1,290 |
| South Carolina | $63,220 | $47,170 to $91,750 | 4,140 |
| South Dakota | $79,920 | $65,570 to $99,750 | 1,820 |
| Tennessee | $62,800 | $47,250 to $81,600 | 6,510 |
| Texas | $66,370 | $48,030 to $95,770 | 21,200 |
| Utah | $59,440 | $46,240 to $87,320 | 3,990 |
| Vermont | $88,710 | $64,420 to $125,960 | 350 |
| Virgin Islands | $44,780 | $43,010 to $64,260 | 50 |
| Virginia | $78,320 | $57,200 to $109,380 | 8,790 |
| Washington | $80,120 | $61,450 to $121,170 | 6,040 |
| West Virginia | $57,580 | $44,670 to $78,070 | 1,290 |
| Wisconsin | $78,290 | $61,730 to $105,950 | 4,940 |
| Wyoming | $79,620 | $60,720 to $103,170 | 740 |
Nationally: $76,690. Shades run from the lowest state median to the highest; a territory below that range takes the lightest. How to read this
How AI touches the work
What AI could speed up, task by task, and where people already use it.
AI could halve the time on 28 of its 30 tasks
| AI rating | Its main tasks | Share of Claude conversations May 2026 |
|---|---|---|
| AI + software | Meet with applicants to obtain information for loan applications and to answer questions about the process. | Not published |
| AI + software | Analyze applicants' financial status, credit, and property evaluations to determine feasibility of granting loans. | Not published |
| AI alone | Explain to customers the different types of loans and credit options that are available, as well as the terms of those services. | Not published |
| AI + software | Obtain and compile copies of loan applicants' credit histories, corporate financial statements, and other financial information. | Not published |
| AI + software | Review and update credit and loan files. | under 0.01% |
| AI alone | Handle customer complaints and take appropriate action to resolve them. | under 0.01% |
See all 30 tasks
| AI + software | Work with clients to identify their financial goals and to find ways of reaching those goals. | 0.02% |
| AI + software | Stay abreast of new types of loans and other financial services and products to better meet customers' needs. | Not published |
| AI + software | Approve loans within specified limits, and refer loan applications outside those limits to management for approval. | Not published |
| AI + software | Review loan agreements to ensure that they are complete and accurate according to policy. | Not published |
| AI alone | Submit applications to credit analysts for verification and recommendation. | Not published |
| AI + software | Analyze potential loan markets and develop referral networks to locate prospects for loans. | Not published |
| AI + software | Compute payment schedules. | under 0.01% |
| AI alone | Market bank products to individuals and firms, promoting bank services that may meet customers' needs. | Not published |
| AI + software | Prepare reports to send to customers whose accounts are delinquent, and forward irreconcilable accounts for collector action. | Not published |
| Not much | Supervise loan personnel. | Not published |
| AI alone | Set credit policies, credit lines, procedures and standards in conjunction with senior managers. | Not published |
| AI + software | Assist in selection of financial award candidates using electronic databases to certify loan eligibility. | Not published |
| AI + software | Authorize or sign mail collection letters. | Not published |
| AI + software | Calculate amount of debt and funds available to plan methods of payoff and to estimate time for debt liquidation. | Not published |
| Not much | Confer with underwriters to resolve mortgage application problems. | Not published |
| AI alone | Contact applicants or creditors to resolve questions about applications or to assist with completion of paperwork. | under 0.01% |
| AI alone | Contact borrowers with delinquent accounts to obtain payment in full or to negotiate repayment plans. | Not published |
| AI alone | Counsel clients on personal and family financial problems, such as excessive spending or borrowing of funds. | 0.02% |
| AI + software | Establish payment priorities according to credit terms and interest rates to reduce clients' overall costs. | Not published |
| AI alone | Inform individuals and groups about the financial assistance available to college or university students. | Not published |
| AI alone | Maintain and review account records, updating and recategorizing them according to status changes. | 0.04% |
| AI alone | Match individuals' needs and eligibility with available financial aid programs to provide informed recommendations. | under 0.01% |
| AI + software | Review accounts to determine write-offs for collection agencies. | Not published |
| AI + software | Review billing for accuracy. | under 0.01% |
Ordered by how important O*NET's respondents rate each task (1 to 5) times the share who say it is part of their job. The ordering is ours. O*NET hasn't rated 13 of the tasks, so they come last, in O*NET's own order. 9 of the 30 have a published share of Claude conversations; “not published” means too few conversations for Anthropic to publish a figure.
Where people already use AI
The tasks above say what AI could speed up. This shows what people are using it for. Its 30 tasks fall under 23 work activities that many occupations share, and Microsoft counted how often each one came up in 200,000 conversations with its Copilot assistant in 2024.
- #1 Gather information from physical or electronic sources
- #3 Respond to customer problems or inquiries
- #4 Maintain current knowledge in area of expertise
- and 4 more, in the table below
| Work activity | This occupation's tasks under it | People asked AI for help in 10,000 conversations |
AI did it for them in 10,000 conversations |
|---|---|---|---|
| Respond to customer problems or inquiries | |||
| Explain financial information | |||
| Calculate financial data | |||
| Evaluate the quality or accuracy of data | |||
| Examine financial activities, operations, or systems | |||
| Evaluate condition of financial assets, property, or other resources | |||
| Maintain operational records | |||
| Develop financial or business plans |
Show all 23 activities
| Authorize business activities or transactions | |||
| Gather information from physical or electronic sources | |||
| Maintain current knowledge in area of expertise | |||
| Provide information to guests, clients, or customers | |||
| Advise others on products or services | |||
| Analyze market or industry conditions | |||
| Promote products, services, or programs | |||
| Verify personal information | |||
| Execute financial transactions | |||
| Advise others on financial matters | |||
| Interview people to obtain information | |||
| Coordinate activities with clients, agencies, or organizations | |||
| Prepare financial documents, reports, or budgets | |||
| Develop organizational policies, systems, or processes | |||
| Supervise personnel activities |
How people in this work use Claude
What people in this work made with Claude % of conversations
- Data or a spreadsheet18%
- A document or report16%
- A plan or strategy14%
- Advice or a recommendation8%
- An analysis or summary8%
How they worked with Claude
37% of these conversations were about work. Anthropic Economic Index, May 2026.
How to read this
Work activities come from O*NET, which links every task to the broader activities it involves. Microsoft's figures are for the activity across everyone who used Copilot, not for loan officers specifically. Copilot is a general chat assistant; dedicated coding tools are not included, so programming help is under-counted here. Activities are listed by how many of this occupation's tasks fall under them.
The task ratings say whether AI could halve the time a task takes: on its own (“AI alone”), or with software built on it (“AI + software”). They were made by people in 2023 (Eloundou et al.). Claude's share is the task's share of all Claude.ai conversations in May 2026; Anthropic doesn't publish a task with too few conversations. None of these add up to the BLS exposure group, which combines five research measures.
More in the Guide: task ratings · task order · work activities · Copilot figures · Claude
High exposure doesn't mean fewer jobs
BLS projects most occupations in its two most exposed groups to grow: 141 of 206 rated Very high and 165 of 206 rated High. Each dot is one of the 831 occupations BLS rates.
Career moves into and out of this occupation
From moves between occupations found in online resumes, 2002–2016. Career changes only: a first job after school isn't a move.
Where people moved next
of 189,733 moves out
- 1 Sales Representatives, Wholesale and Manufacturing, Except Technical and Scientific Products Very high -0.9% 7%
- 2 General and Operations Managers High +5.0% 6%
- 3 Managers, All Other (2010 group) an older group BLS has since split; no exposure group today 5%
- 4 Financial Managers Very high +9.7% 5%
- 5 Sales Managers High +4.5% 4%
Where people moved in from
of 163,772 moves in
- 1 Sales Representatives, Wholesale and Manufacturing, Except Technical and Scientific Products Very high -0.9% 6%
- 2 Loan Interviewers and Clerks Very high -2.4% 5%
- 3 General and Operations Managers High +5.0% 4%
- 4 Customer Service Representatives Very high -5.3% 4%
- 5 Managers, All Other (2010 group) an older group BLS has since split; no exposure group today 4%
Resumes over-represent younger, white-collar job-seekers and moves into management. Schubert, Stansbury and Taska (resume data).
Education and training for the occupation
O*NET survey of workers in this occupation
- 6% high school
- 13% some college
- 11% associate's
- 69% bachelor's
- 1% post-bachelor's certificate
O*NET 31.0 survey of workers in this occupation · 22 people answered.
Census survey (American Community Survey)
- 1% less than high school
- 14% high school
- 21% some college
- 10% associate's
- 41% bachelor's
- 11% master's
Census ACS 2024, all workers in the Census group “Credit counselors and loan officers” · 3,379 people surveyed.
Why the two can differ
O*NET asks about 20 people in each occupation, which makes its shares uncertain, but it reports the exact occupation and counts certificates. The Census survey reaches thousands, but it groups some occupations together and counts degrees only. More in the Guide
Median pay by highest degree full-time, year-round · Census ACS 2024, all workers in the Census group “Credit counselors and loan officers”
2 programs: Finance, General and Credit Management.
Jobs that require a credential BLS Occupational Requirements Survey 2023
61.4% this occupation
45.3% all occupations
| By kind | This occupation | All occupations |
|---|---|---|
| a license | 48.3% | 19.1% |
| an educational certificate | <0.5% | 2.8% |
| a certification | not published |
Share of jobs whose employer requires it. BLS doesn't say which credential. How to read this
Look up certifications, training and licenses U.S. Department of Labor
- Certification Finder ↗ certifications CareerOneStop lists for this occupation
- Training Finder ↗ schools and programs, nationwide; narrow the place there
- License Finder ↗ licenses by state
- Apprenticeship Finder ↗ DOL lists 1 registered apprenticeship in this occupation (Loan Officer (NOF)). Apprenticeship.gov can't be linked to one occupation, so search for “Loan Officers” there.
These open in a new tab and send only the occupation's public code. More in the Guide
BLS AI exposure categories (Aug 2026) · BLS Employment Projections 2025–35 · O*NET 31.0 · Task ratings: Eloundou et al., Science (2024) · Microsoft "Working with AI" v1.1 · Anthropic Economic Index (2026-06-26) · Schubert, Stansbury and Taska · NCES CIP–SOC · Census ACS 2024 · BLS JOLTS · Brynjolfsson, Chandar and Chen, Stanford (Aug 2026)
See it online, and explore any career: https://www.pathmosaic.com/card/13-2072.00