Career Explorer Business and finance
Changing shape
Loan officers
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.
Among the careers AI is changing fastest: more resilient than 6% of the 831 careers we score. AI exposure is very high (the Bureau of Labor Statistics rates it very high), and US jobs are projected to change by +1.1% by 2035, slower than average. The work leans on ethical judgement.
AI can do many of the tasks, and hiring is expected to grow slower than average or to shrink. The job is likely to change, so build the human parts of it.
- Median pay (2025)
- $76,690
- Job growth to 2035
- +1.1%
- Openings a year
- 17,100
- People doing it (2025)
- 283,000
- Usual route in
- Bachelor's degree, then moderate on-the-job training
Where people already use AI for this work
- Explain financial information
- Respond to customer problems or inquiries
- Gather information from physical or electronic sources
From Microsoft Research, Working with AI (2025).
Work AI rarely helps with
- Interview people to obtain information
- Evaluate condition of financial assets, property, or other resources
- Examine financial activities, operations, or systems
What the work looks like
- 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.
From O*NET 31.0, US Department of Labor.
What the Bureau of Labor Statistics expects
- Fewer of these jobs, as companies adopt automated systems, which can perform data processing tasks and require reduced interactions with customers, thereby enabling fewer officers to complete loan applications.
Careers using similar strengths, with a stronger outlook
- Compliance officersGrows with AI, Index 21, +3.8%
- Accountants and auditorsGrows with AI, Index 14, +5.0%
- Buyers and purchasing agentsGrows with AI, Index 41, +6.0%
- Legal support workers, all otherChanging shape, Index 16, -0.3%
Also known as: Commercial Loan Officer, Financial Aid Counselor, Loan Counselor, Loan Officer, Commercial Banker, Corporate Banking Officer, Financial Aid Advisor, Financial Aid Officer.
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Sources: US Bureau of Labor Statistics Employment Projections 2025 to 2035; O*NET 31.0; Microsoft Research (2025); Anthropic Economic Index (2026); Eloundou and colleagues (Science, 2024); Felten, Raj and Seamans (2023). How we score. Updated 12 October 2026.