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Working as a Loan Analyst

There is more than meets the eye when it comes to being a loan analyst. For example, did you know that they make an average of $20.62 an hour? That's $42,879 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 Analyst Do

There are certain skills that many loan analysts 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 analyst, we found that a lot of resumes listed 25.1% of loan analysts included loan applications, while 12.3% of resumes included financial statements, and 7.0% of resumes included real estate. 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 analyst job title. But what industry to start with? Most loan analysts actually find jobs in the finance and professional industries.

How To Become a Loan Analyst

If you're interested in becoming a loan analyst, one of the first things to consider is how much education you need. We've determined that 48.5% of loan analysts have a bachelor's degree. In terms of higher education levels, we found that 17.5% of loan analysts have master's degrees. Even though most loan analysts 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 analyst. When we researched the most common majors for a loan analyst, we found that they most commonly earn bachelor's degree degrees or master's degree degrees. Other degrees that we often see on loan analyst resumes include associate degree degrees or high school diploma degrees.

You may find that experience in other jobs will help you become a loan analyst. In fact, many loan analyst jobs require experience in a role such as customer service representative. Meanwhile, many loan analysts also have previous career experience in roles such as loan processor or loan servicing specialist.

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Average Salary$42,879
Job Growth Rate8%

Loan Analyst Jobs

Loan Analyst 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 Analyst. 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 Analyst Resume

At Zippia, we went through countless Loan Analyst 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 Analyst Career Paths

Top Careers Before Loan Analyst

Top Careers After Loan Analyst

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 Analyst

Loan Analysts in America make an average salary of $42,879 per year or $21 per hour. The top 10 percent makes over $60,000 per year, while the bottom 10 percent under $30,000 per year.
Average Salary
$42,879

Best Paying Cities

Average Salary
Salary Range38k - 70k$52k$51,870
Salary Range36k - 67k$50k$49,666
Salary Range35k - 64k$48k$47,933
Salary Range34k - 63k$47k$46,982
Salary Range36k - 59k$46k$46,392
Salary Range34k - 61k$46k$46,006
$30k
$70k

Recently Added Salaries

Job TitleCompanyCompanyStart DateSalary
Loan Analyst
Loan Analyst
Randstad
Randstad
08/17/2020
08/17/2020
$83,48008/17/2020
$83,480
Mortgage Loan Servicing Analyst
Mortgage Loan Servicing Analyst
Ent Federal Credit Union
Ent Federal Credit Union
07/21/2020
07/21/2020
$50,21307/21/2020
$50,213
Loan Analyst
Loan Analyst
Randstad
Randstad
07/02/2020
07/02/2020
$37,56607/02/2020
$37,566
Supervisor of Mortgage Loan Servicing Analysts
Supervisor of Mortgage Loan Servicing Analysts
Ent Federal Credit Union
Ent Federal Credit Union
06/23/2020
06/23/2020
$56,88806/23/2020
$56,888
Commercial Loan Servicing Analyst
Commercial Loan Servicing Analyst
Randstad
Randstad
06/19/2020
06/19/2020
$55,00006/19/2020
$55,000
See More Recent Salaries

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Loan Analyst Demographics

Gender

female

54.9%

male

40.3%

unknown

4.8%

Ethnicity

White

68.8%

Hispanic or Latino

14.6%

Black or African American

8.2%

Foreign Languages Spoken

Spanish

57.0%

Mandarin

5.8%

Korean

4.7%
See More Demographics

Loan Analyst Education

Majors

Finance
14.4%

Degrees

Bachelors

48.5%

Masters

17.5%

Associate

14.5%

Top Colleges for Loan Analysts

1. University of Pennsylvania

Philadelphia, PA

Tuition and fees
$55,584
Enrollment
10,764

2. Northwestern University

Evanston, IL

Tuition and fees
$54,568
Enrollment
8,451

3. University of Southern California

Los Angeles, CA

Tuition and fees
$56,225
Enrollment
19,548

4. SUNY at Binghamton

Vestal, NY

Tuition and fees
$9,808
Enrollment
13,990

5. Villanova University

Villanova, PA

Tuition and fees
$53,308
Enrollment
6,819

6. San Diego State University

San Diego, CA

Tuition and fees
$7,488
Enrollment
30,018

7. Bentley University

Waltham, MA

Tuition and fees
$49,880
Enrollment
4,177

8. Boston University

Boston, MA

Tuition and fees
$53,948
Enrollment
17,238

9. SUNY Stony Brook

Stony Brook, NY

Tuition and fees
$9,625
Enrollment
17,407

10. New York University

New York, NY

Tuition and fees
$51,828
Enrollment
26,339
See More Education Info

Entry Level Jobs For Becoming A Loan Analyst

Job type you want
Full Time
Part Time
Internship
Temporary

Top Skills For a Loan Analyst

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, 25.1% of loan analysts listed loan applications on their resume, but soft skills such as math skills and communication skills are important as well.

  • Loan Applications, 25.1%
  • Financial Statements, 12.3%
  • Real Estate, 7.0%
  • Customer Service, 6.0%
  • Ensure Compliance, 4.6%
  • Other Skills, 45.0%
  • See All Loan Analyst Skills

Best States For a Loan Analyst

Some places are better than others when it comes to starting a career as a loan analyst. The best states for people in this position are New York, New Jersey, Michigan, and Pennsylvania. Loan analysts make the most in New York with an average salary of $51,532. Whereas in New Jersey and Michigan, they would average $49,525 and $47,846, respectively. While loan analysts would only make an average of $47,601 in Pennsylvania, 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 York

Total Loan Analyst Jobs:
511
Highest 10% Earn:
$90,000
Location Quotient:
1.3
Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here

2. Pennsylvania

Total Loan Analyst Jobs:
321
Highest 10% Earn:
$82,000
Location Quotient:
0.96
Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here

3. New Jersey

Total Loan Analyst Jobs:
238
Highest 10% Earn:
$86,000
Location Quotient:
1.03
Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here
View Full List

Loan Analyst 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 analyst. If you're needing extra inspiration, take a look through our selection of templates that are specific to your job.

At Zippia, we went through countless loan analyst 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.

Learn How To Write a Loan Analyst Resume

At Zippia, we went through countless loan analyst 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

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Top Loan Analyst Employers

1. Wells Fargo
4.8
Avg. Salary: 
$42,050
Loan Analysts Hired: 
404+
2. The PNC Financial Services Group
4.9
Avg. Salary: 
$49,510
Loan Analysts Hired: 
85+
3. JPMorgan Chase
4.9
Avg. Salary: 
$75,304
Loan Analysts Hired: 
73+
4. Bank of America
4.8
Avg. Salary: 
$56,114
Loan Analysts Hired: 
65+
5. Sallie Mae Bank
4.6
Avg. Salary: 
$41,117
Loan Analysts Hired: 
48+
6. WMC Mortgage
4.6
Avg. Salary: 
$57,845
Loan Analysts Hired: 
37+

Loan Analyst Videos

Recently Added Loan Analyst Jobs

Updated October 2, 2020