Branch lending officers evaluate and authorize approval of business, real estate, or credit loans. They are specialists at evaluating the financial status of a loan applicant. Duties include updating account records and reviewing loan files. They work for commercial banks, mortgage companies, or credit unions.
Some of the functions that they perform include meeting with loan applicants to identify their needs and collect information for loan applications, analyzing active loan files on a regular basis and recommending solutions to speed up the loan process, preparing detailed lending proposals, and operating in compliance with laws and regulations. Qualifications include a bachelor's degree in finance or similar field along with at least three years of experience as a loan officer or a related capacity. Moreover, a solid understanding of local, state, and federal loan regulations is also required. Essential skills include interpersonal, computer, communication, and customer service.
The average hourly salary for the position is $29.19, which amounts to $60,723 annually. The career is expected to grow in the near future and create new opportunities across the United States.
How to Become a Branch Lending Officer
What is a Branch Lending Officer
There is more than meets the eye when it comes to being a Branch Lending Officer. For example, did you know that they make an average of $39.85 an hour? That's $82,892 a year!
Between 2018 and 2028, the career is expected to grow 8% and produce 24,300 job opportunities across the U.S.
What Does a Branch Lending Officer Do
There are certain skills that many Branch Lending Officers have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed Detail oriented, Initiative and Interpersonal skills.
How To Become a Branch Lending Officer
If you're interested in becoming a Branch Lending Officer, one of the first things to consider is how much education you need. We've determined that 72.9% of Branch Lending Officers have a bachelor's degree. In terms of higher education levels, we found that 9.8% of Branch Lending Officers have master's degrees. Even though most Branch Lending Officers have a college degree, it's possible to become one with only a high school degree or GED.
Choosing the right major is always an important step when researching how to become a Branch Lending Officer. When we researched the most common majors for a Branch Lending Officer, we found that they most commonly earn Bachelor's Degree degrees or Master's Degree degrees. Other degrees that we often see on Branch Lending Officer resumes include Associate Degree degrees or High School Diploma degrees.
You may find that experience in other jobs will help you become a Branch Lending Officer. In fact, many Branch Lending Officer jobs require experience in a role such as Branch Manager. Meanwhile, many Branch Lending Officers also have previous career experience in roles such as Loan Officer or Teller.
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Branch Lending Officer Career Paths
As you move along in your career, you may start taking on more responsibilities or notice that you've taken on a leadership role. Using our career map, a Branch Lending Officer can determine their career goals through the career progression. For example, they could start out with a role such as Credit Analyst, progress to a title such as Credit Manager and then eventually end up with the title Credit And Collection Manager.
Branch Lending Officer Jobs You Might Like
What is the right job for my career path?
Tell us your goals and we'll match you with the rights job to get there.
Average Salary for a Branch Lending Officer
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Choose From 10+ Customizable Branch Lending Officer Resume templates
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Find the best Branch Lending Officer job for you
Branch Lending Officer Jobs You Might Like
- High Paying Branch Lending Officer Jobs - $139K and Up
- Entry Level Branch Lending Officer Jobs
- Part Time Branch Lending Officer Jobs
- Actively Hiring
- No Degree Branch Lending Officer Jobs
Top Colleges for Branch Lending Officers
1. University of Pennsylvania
Philadelphia, PA • Private
2. Northwestern University
Evanston, IL • Private
3. University of Southern California
Los Angeles, CA • Private
4. SUNY at Binghamton
Vestal, NY • Private
5. Villanova University
Villanova, PA • Private
6. San Diego State University
San Diego, CA • Private
7. Bentley University
Waltham, MA • Private
8. Boston University
Boston, MA • Private
9. SUNY Stony Brook
Stony Brook, NY • Private
10. New York University
New York, NY • Private
Find the best Branch Lending Officer job for you
Branch Lending Officer Jobs You Might Like
- High Paying Branch Lending Officer Jobs - $139K and Up
- Entry Level Branch Lending Officer Jobs
- Part Time Branch Lending Officer Jobs
- Actively Hiring
- No Degree Branch Lending Officer Jobs
Online Courses For Branch Lending Officer That You May Like
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Top Skills For a Branch Lending Officer
The skills section on your resume can be almost as important as the experience section, so you want it to be an accurate portrayal of what you can do. Luckily, we've found all of the skills you'll need so even if you don't have these skills yet, you know what you need to work on. Out of all the resumes we looked through, 18.6% of Branch Lending Officers listed Business Relationships on their resume, but soft skills such as Detail oriented and Initiative are important as well.
Best States For a Branch Lending Officer
Some places are better than others when it comes to starting a career as a Branch Lending Officer. The best states for people in this position are Florida, Maryland, Delaware, and New York. Branch Lending Officers make the most in Florida with an average salary of $90,181. Whereas in Maryland and Delaware, they would average $89,671 and $88,734, respectively. While Branch Lending Officers would only make an average of $82,751 in New York, you would still make more there than in the rest of the country. We determined these as the best states based on job availability and pay. By finding the median salary, cost of living, and using the Bureau of Labor Statistics' Location Quotient, we narrowed down our list of states to these four.
1. Florida
$90,181
Avg. Salary
2. Maryland
$89,671
Avg. Salary
3. Rhode Island
$81,455
Avg. Salary