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Consumer Loan Officer Careers

There is more than meets the eye when it comes to being a consumer loan officer. For example, did you know that they make an average of $25.94 an hour? That's $53,954 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 Consumer Loan Officer Do

There are certain skills that many consumer 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 detail oriented, initiative and interpersonal skills.

When it comes to the most important skills required to be a consumer loan officer, we found that a lot of resumes listed 21.0% of consumer loan officers included loan portfolio, while 10.5% of resumes included credit reports, and 10.4% of resumes included financial statements. 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 consumer loan officer job title. But what industry to start with? Most consumer loan officers actually find jobs in the finance and manufacturing industries.

How To Become a Consumer Loan Officer

If you're interested in becoming a consumer loan officer, one of the first things to consider is how much education you need. We've determined that 55.1% of consumer loan officers have a bachelor's degree. In terms of higher education levels, we found that 3.9% of consumer loan officers have master's degrees. Even though most consumer 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 consumer loan officer. When we researched the most common majors for a consumer loan officer, we found that they most commonly earn bachelor's degree degrees or associate degree degrees. Other degrees that we often see on consumer loan officer resumes include high school diploma degrees or master's degree degrees.

You may find that experience in other jobs will help you become a consumer loan officer. In fact, many consumer loan officer jobs require experience in a role such as teller. Meanwhile, many consumer loan officers also have previous career experience in roles such as customer service representative or branch manager.

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Average Salary
$53,954
Average Salary
Job Growth Rate
8%
Job Growth Rate
Job Openings
38,184
Job Openings

Consumer Loan Officer Career Paths

Top Careers Before Consumer Loan Officer

Teller
11.2 %

Top Careers After Consumer Loan Officer

Consumer Loan 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 Consumer Loan Officer

Consumer Loan Officers in America make an average salary of $53,954 per year or $26 per hour. The top 10 percent makes over $75,000 per year, while the bottom 10 percent under $38,000 per year.
Average Salary
$53,954
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Recently Added Salaries

Job TitleCompanyascdescCompanyascdescStart DateascdescSalaryascdesc
Consumer Loan Funder
Consumer Loan Funder
Kelly
Kelly
03/28/2021
03/28/2021
$41,74003/28/2021
$41,740
Outbound Consumer Loan Officer
Outbound Consumer Loan Officer
Robert Half
Robert Half
01/14/2021
01/14/2021
$41,74001/14/2021
$41,740
Indirect Consumer Loan Officer
Indirect Consumer Loan Officer
Fort Community Credit Union
Fort Community Credit Union
08/18/2020
08/18/2020
$35,47908/18/2020
$35,479
Consumer Loan Officer
Consumer Loan Officer
Security Capital Ventures, LLC
Security Capital Ventures, LLC
03/18/2014
03/18/2014
$37,89203/18/2014
$37,892
Consumer Loan Officer
Consumer Loan Officer
Community & Southern Bank
Community & Southern Bank
06/28/2011
06/28/2011
$44,88006/28/2011
$44,880

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Consumer Loan Officer Demographics

Gender

female

49.2 %

male

46.7 %

unknown

4.1 %

Ethnicity

White

68.6 %

Hispanic or Latino

14.5 %

Black or African American

8.4 %

Foreign Languages Spoken

Spanish

84.8 %

German

6.1 %

Polish

3.0 %
See More Demographics

Consumer Loan Officer Education

Majors

Business
39.9 %
Finance
15.5 %

Degrees

Bachelors

55.1 %

Certificate

17.7 %

Associate

14.1 %

Top Colleges for Consumer Loan Officers

1. University of Pennsylvania

Philadelphia, PA • Private

In-State Tuition
$55,584
Enrollment
10,764

2. Northwestern University

Evanston, IL • Private

In-State Tuition
$54,568
Enrollment
8,451

3. University of Southern California

Los Angeles, CA • Private

In-State Tuition
$56,225
Enrollment
19,548

4. SUNY at Binghamton

Vestal, NY • Private

In-State Tuition
$9,808
Enrollment
13,990

5. Villanova University

Villanova, PA • Private

In-State Tuition
$53,308
Enrollment
6,819

6. San Diego State University

San Diego, CA • Private

In-State Tuition
$7,488
Enrollment
30,018

7. Bentley University

Waltham, MA • Private

In-State Tuition
$49,880
Enrollment
4,177

8. Boston University

Boston, MA • Private

In-State Tuition
$53,948
Enrollment
17,238

9. SUNY Stony Brook

Stony Brook, NY • Private

In-State Tuition
$9,625
Enrollment
17,407

10. New York University

New York, NY • Private

In-State Tuition
$51,828
Enrollment
26,339
See More Education Info

Online Courses For Consumer Loan Officer That You May Like

Banking Credit Analysis Process (for Bankers)
udemy
4.5
(1,594)

Course for Bankers, Consultants and managers to Understand Credit Analysis Process from Indian Context...

Credit Repair: The 2021 Total Guide to a Great Credit Score
udemy
4.4
(514)

Credit Repair: A step-by-step 2021 plan to begin improving your credit within one hour of starting! Over 6,100 students!...

Commercial Credit Analysis
udemy
4.5
(977)

This course provides you with the tools needed to undertake effective, conclusion-based, commercial credit analysis...

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Top Skills For a Consumer Loan 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, 21.0% of consumer loan officers listed loan portfolio on their resume, but soft skills such as detail oriented and initiative are important as well.

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Top Consumer Loan Officer Employers

1. America First Credit Union
4.7
Avg. Salary: 
$58,736
Consumer Loan Officers Hired: 
19+
2. Bank of America
4.8
Avg. Salary: 
$90,773
Consumer Loan Officers Hired: 
18+
3. SunTrust Banks
4.9
Avg. Salary: 
$87,652
Consumer Loan Officers Hired: 
18+
4. Arvest Bank
4.5
Avg. Salary: 
$76,735
Consumer Loan Officers Hired: 
12+
5. TCF Bank
4.7
Avg. Salary: 
$78,953
Consumer Loan Officers Hired: 
11+
6. The PNC Financial Services Group
4.8
Avg. Salary: 
$85,303
Consumer Loan Officers Hired: 
7+
Updated October 2, 2020