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.
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.
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.