1. University of Pennsylvania
Philadelphia, PA • Private
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 $16.36 an hour? That's $34,028 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 communication skills, math skills and organizational skills.
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 47.0% of loan representatives have a bachelor's degree. In terms of higher education levels, we found that 4.1% of loan representatives have master's degrees. Even though most loan representatives have a college degree, it's possible to become one with only a high school degree or GED.
As you move along in your career, you may start taking on more responsibilities or notice that you've taken on a leadership role. Using our career map, a loan representative can determine their career goals through the career progression. For example, they could start out with a role such as loan officer, progress to a title such as account executive and then eventually end up with the title senior account manager.
What Am I Worth?
The role of a loan representative includes a wide range of responsibilities. These responsibilities can vary based on an individual's specific job, company, or industry.Here are some general loan representative responsibilities:
There are several types of loan representative, including:
As a service representative, you're going to spend a lot of your time addressing customer complaints. For someone who likes to solve problems, this is a great position. Bonus points if you're able to be nice with every customer.
You'll probably only need a high school degree in this position, as you'll get a lot of on-the-job training to really learn about the job. Aside from handling customer complaints, you will take a lot of orders from customers and you'll be a resource for people to ask questions. So it's not all negative.
What's even better about this job is that you'll only ever work full-time. You probably won't ever have to work more than that so you can take solice in knowing that. Plus, you'll have lots of job opportunities as service respresentatives are helpful in nearly every industry.
Since respresentative is such a broad term, you can really take your pick when it comes to having a career as one. Maybe you want to pursue customer service or politics. Either way, representatives are very important for the people they're serving.
As a representative, it's important that you present yourself well. A state representative needs to be a likeable figure for people to vote into office, while a customer service representative needs to put on an understanding face when presented with a customer complaint.
Representatives work all sorts of hours, depending on the industry they've picked. Luckily, there are so many industries that a representative can go into that you'll have plenty of job opportunities available.
As the primary contact for clients, it's your job to represent your company well. Your goal is to have those clients return, year after year, while also creating new client relationships. New growth is always good.
Some of your responsibilities include going over customer complaints and working toward a solution for each complaint. We can't stressed this enough - you want to keep your clients happy, no matter how much you despise them.
The majority of account representatives put in a full-time schedule, week after week. But every now and then, you might be responsible for meeting with a client after working hours. And you're just going to have to be ok with it.
Mouse over a state to see the number of active loan representative jobs in each state. The darker areas on the map show where loan representatives earn the highest salaries across all 50 states.
|Rank||State||Number of Jobs||Average Salary|
High School Diploma
Philadelphia, PA • Private
Evanston, IL • Private
Los Angeles, CA • Private
Vestal, NY • Private
Villanova, PA • Private
San Diego, CA • Private
Waltham, MA • Private
Boston, MA • Private
Stony Brook, NY • Private
New York, NY • Private
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, 12.6% of loan representatives listed customer service on their resume, but soft skills such as communication skills and math skills are important as well.
Zippia allows you to choose from different easy-to-use Loan Representative templates, and provides you with expert advice. Using the templates, you can rest assured that the structure and format of your Loan Representative resume is top notch. Choose a template with the colors, fonts & text sizes that are appropriate for your industry.
After extensive research and analysis, Zippia's data science team found that:
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Some places are better than others when it comes to starting a career as a loan representative. The best states for people in this position are California, West Virginia, Maryland, and Alaska. Loan representatives make the most in California with an average salary of $41,601. Whereas in West Virginia and Maryland, they would average $40,338 and $38,401, respectively. While loan representatives would only make an average of $38,147 in Alaska, 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. West Virginia
3. Rhode Island
|Rank||Company||Average Salary||Hourly Rate||Job Openings|
|1||JPMorgan Chase & Co.||$44,532||$21.41||58|
|2||Bank of America||$42,422||$20.40||43|
|6||Royal Credit Union||$39,444||$18.96||6|
|7||People's United Bank||$39,256||$18.87||19|
|9||Marine Credit Union||$37,705||$18.13||9|