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Working as a Loan Adviser

There is more than meets the eye when it comes to being a loan adviser. For example, did you know that they make an average of $31.81 an hour? That's $66,170 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 Loan Adviser Do

There are certain skills that many loan advisers 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 math skills, communication skills and interpersonal skills.

When it comes to the most important skills required to be a loan adviser, we found that a lot of resumes listed 18.4% of loan advisers included customer service, while 18.3% of resumes included loan applications, and 13.7% of resumes included loan advisor. 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 loan adviser job title. But what industry to start with? Most loan advisers actually find jobs in the finance and professional industries.

How To Become a Loan Adviser

If you're interested in becoming a loan adviser, one of the first things to consider is how much education you need. We've determined that 41.0% of loan advisers have a bachelor's degree. In terms of higher education levels, we found that 6.9% of loan advisers have master's degrees. Even though some loan advisers 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 loan adviser. When we researched the most common majors for a loan adviser, we found that they most commonly earn bachelor's degree degrees or high school diploma degrees. Other degrees that we often see on loan adviser resumes include associate degree degrees or master's degree degrees.

You may find that experience in other jobs will help you become a loan adviser. In fact, many loan adviser jobs require experience in a role such as customer service representative. Meanwhile, many loan advisers also have previous career experience in roles such as sales associate or cashier.

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Average Salary$66,170
Job Growth Rate8%

Loan Adviser Jobs

Loan Adviser Career Paths

Top Careers Before Loan Adviser

Cashier
9.4 %

Top Careers After Loan Adviser

Owner
6.6 %

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 Loan Adviser

Loan Advisers in America make an average salary of $66,170 per year or $32 per hour. The top 10 percent makes over $92,000 per year, while the bottom 10 percent under $47,000 per year.
Average Salary
$66,170

Best Paying Cities

0

Recently Added Salaries

Job TitleCompanyCompanyStart DateSalary
Loan Adviser
Loan Adviser
Kelly Services
Kelly Services
11/18/2019
11/18/2019
$48,00111/18/2019
$48,001
Loan Adviser
Loan Adviser
Tennessee Housing Development Agency
Tennessee Housing Development Agency
11/14/2019
11/14/2019
$72,54011/14/2019
$72,540

Calculate your salary

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Loan Adviser Resumes

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 Loan Adviser. 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 Loan Adviser Resume

At Zippia, we went through countless Loan Adviser 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 Information

Loan Adviser Demographics

Gender

female

52.0 %

male

44.2 %

unknown

3.8 %

Ethnicity

White

68.5 %

Hispanic or Latino

14.8 %

Black or African American

8.3 %

Foreign Languages Spoken

Spanish

62.5 %

French

8.3 %

Swedish

4.2 %
See More Demographics

Loan Adviser Education

Majors

Business
29.8 %
Finance
7.0 %

Degrees

Bachelors

41.0 %

High School Diploma

24.6 %

Associate

16.0 %

Top Colleges for Loan Advisers

1. University of Pennsylvania

Philadelphia, PA

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

2. Northwestern University

Evanston, IL

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

3. University of Southern California

Los Angeles, CA

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

4. SUNY at Binghamton

Vestal, NY

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

5. Villanova University

Villanova, PA

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

6. San Diego State University

San Diego, CA

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

7. Bentley University

Waltham, MA

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

8. Boston University

Boston, MA

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

9. SUNY Stony Brook

Stony Brook, NY

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

10. New York University

New York, NY

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

Entry Level Jobs For Becoming A Loan Adviser

Job type you want
Full Time
Part Time
Internship
Temporary

Top Skills For a Loan Adviser

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, 18.4% of loan advisers listed customer service on their resume, but soft skills such as math skills and communication skills are important as well.

  • Customer Service, 30.7%
  • Communication, 16.6%
  • Sales Goals, 8.0%
  • Loan Portfolio, 7.8%
  • Loan Applications, 5.3%
  • Other Skills, 31.6%
  • See All Loan Adviser Skills

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Top Loan Adviser Employers

We've made finding a great employer to work for easy by doing the hard work for you. We looked into employers that employ loan advisers and discovered their number of loan adviser opportunities and average salary. Through our research, we concluded that Nelnet was the best, especially with an average salary of $47,365. DriveTime follows up with an average salary of $37,984, and then comes Freedom Mortgage with an average of $54,567. In addition, we know most people would rather work from home. So instead of having to change careers, we identified the best employers for remote work as a loan adviser. The employers include FLAGSTAR BANCORP, Freedom Mortgage, and Drivetime Automotive Group

1. Nelnet
4.4
Avg. Salary: 
$47,365
Loan Advisers Hired: 
279+
2. DriveTime
4.2
Avg. Salary: 
$37,984
Loan Advisers Hired: 
154+
3. Freedom Mortgage
4.8
Avg. Salary: 
$54,567
Loan Advisers Hired: 
36+
4. Amerisave Mortgage
4.2
Avg. Salary: 
$53,955
Loan Advisers Hired: 
26+
5. First Mortgage
4.1
Avg. Salary: 
$62,141
Loan Advisers Hired: 
20+
6. On Deck Capital
4.8
Avg. Salary: 
$76,231
Loan Advisers Hired: 
9+

Loan Adviser Videos

Recently Added Loan Adviser Jobs

Updated October 2, 2020