There is more than meets the eye when it comes to being a loan representative. For example, did you know that they make an average of $17.19 an hour? That's $35,745 a year!
Between 2018 and 2028, the career is expected to grow 5% and produce 72,100 job opportunities across the U.S.
There are certain skills that many loan representatives 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 representative, we found that a lot of resumes listed 33.5% of loan representatives included loan applications, while 6.8% of resumes included customer service, and 3.8% of resumes included payment arrangements. 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 representative job title. But what industry to start with? Most loan representatives actually find jobs in the finance and professional industries.
If you're interested in becoming a loan representative, one of the first things to consider is how much education you need. We've determined that 35.3% of loan representatives have a bachelor's degree. In terms of higher education levels, we found that 6.4% of loan representatives have master's degrees. Even though some loan representatives 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 representative. When we researched the most common majors for a loan representative, we found that they most commonly earn bachelor's degree degrees or high school diploma degrees. Other degrees that we often see on loan representative resumes include associate degree degrees or master's degree degrees.
You may find that experience in other jobs will help you become a loan representative. In fact, many loan representative jobs require experience in a role such as customer service representative. Meanwhile, many loan representatives also have previous career experience in roles such as cashier or teller.