There is more than meets the eye when it comes to being a commercial loan officer. For example, did you know that they make an average of $31.41 an hour? That's $65,332 a year!
Between 2018 and 2028, the career is expected to grow 8% and produce 24,300 job opportunities across the U.S.
There are certain skills that many commercial loan 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 initiative, interpersonal skills and detail oriented.
When it comes to the most important skills required to be a commercial loan officer, we found that a lot of resumes listed 25.6% of commercial loan officers included loan portfolio, while 12.5% of resumes included financial statements, and 8.7% of resumes included customer service. Hard skills like these are helpful to have when it comes to performing essential job responsibilities.
When it comes to searching for a job, many search for a key term or phrase. Instead, it might be more helpful to search by industry, as you might be missing jobs that you never thought about in industries that you didn't even think offered positions related to the commercial loan officer job title. But what industry to start with? Most commercial loan officers actually find jobs in the finance and professional industries.
If you're interested in becoming a commercial loan officer, one of the first things to consider is how much education you need. We've determined that 52.4% of commercial loan officers have a bachelor's degree. In terms of higher education levels, we found that 28.6% of commercial loan officers have master's degrees. Even though most commercial loan 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 commercial loan officer. When we researched the most common majors for a commercial loan officer, we found that they most commonly earn bachelor's degree degrees or master's degree degrees. Other degrees that we often see on commercial loan officer resumes include associate degree degrees or doctoral degree degrees.
You may find that experience in other jobs will help you become a commercial loan officer. In fact, many commercial loan officer jobs require experience in a role such as loan officer. Meanwhile, many commercial loan officers also have previous career experience in roles such as assistant vice president or credit analyst.
Tell us your goals and we'll match you with the right jobs to get there.
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 commercial loan officer can determine their career goals through the career progression. For example, they could start out with a role such as branch manager, progress to a title such as general manager and then eventually end up with the title director, inside sales.
Tell us your goals and we'll match you with the rights job to get there.
Job TitleCompany  | Company | Start Date | Salary |
|---|---|---|---|
Elevations Creditunion Commercial Loan Officer-Boulder Market (2350) Commercial Loan Officer-Boulder Market (2350) | Elevations Creditunion Elevations Creditunion | 01/25/2021 01/25/2021 | $75,36001/25/2021 $75,360 |
Management Recruiters of Wausau Commercial Loan Officer-Banking Commercial Loan Officer-Banking | Management Recruiters of Wausau Management Recruiters of Wausau | 01/04/2021 01/04/2021 | $70,00001/04/2021 $70,000 |
Management Recruiters of Wausau Senior Commercial Loan Officer Senior Commercial Loan Officer | Management Recruiters of Wausau Management Recruiters of Wausau | 01/04/2021 01/04/2021 | $85,00001/04/2021 $85,000 |
Management Recruiters of Wausau Commercial Loan Officer Commercial Loan Officer | Management Recruiters of Wausau Management Recruiters of Wausau | 12/28/2020 12/28/2020 | $70,00012/28/2020 $70,000 |
Management Recruiters of Wausau Agricultural/Commercial Loan Officer Agricultural/Commercial Loan Officer | Management Recruiters of Wausau Management Recruiters of Wausau | 12/22/2020 12/22/2020 | $80,00012/22/2020 $80,000 |
Use Zippia's Salary Calculator to see how your pay matches up.
Designing and figuring out what to include on your resume can be tough, not to mention time-consuming. That's why we put together a guide that is designed to help you craft the perfect resume for becoming a Commercial Loan Officer. If you're needing extra inspiration, take a look through our selection of templates that are specific to your job.
Learn How To Write a Commercial Loan Officer Resume
At Zippia, we went through countless Commercial Loan Officer resumes and compiled some information about how best to optimize them. Here are some suggestions based on what we found, divided by the individual sections of the resume itself.
View Detailed InformationPhiladelphia, PA • Private
Evanston, IL • Private
Los Angeles, CA • Private
Vestal, NY • Public
Villanova, PA • Private
San Diego, CA • Public
Waltham, MA • Private
Boston, MA • Private
Stony Brook, NY • Public
New York, NY • Private
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, 25.6% of commercial loan officers listed loan portfolio on their resume, but soft skills such as initiative and interpersonal skills are important as well.
Some places are better than others when it comes to starting a career as a commercial loan officer. The best states for people in this position are New Jersey, Massachusetts, Connecticut, and New Hampshire. Commercial loan officers make the most in New Jersey with an average salary of $84,771. Whereas in Massachusetts and Connecticut, they would average $83,336 and $78,680, respectively. While commercial loan officers would only make an average of $77,434 in New Hampshire, 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. New Jersey
$84,772
Avg. Salary
2. Maine
$72,129
Avg. Salary
3. Massachusetts
$83,337
Avg. Salary
