Working as a Senior Loan Officer

There is more than meets the eye when it comes to being a senior loan officer. For example, did you know that they make an average of $23.56 an hour? That's $49,006 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 Senior Loan Officer Do

There are certain skills that many senior loan officers 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 decisionmaking skills, interpersonal skills and detail oriented.

When it comes to the most important skills required to be a senior loan officer, we found that a lot of resumes listed 32.1% of senior loan officers included loan applications, while 7.7% of resumes included financial status, and 5.6% of resumes included customer service. 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 senior loan officer job title. But what industry to start with? Most senior loan officers actually find jobs in the finance and professional industries.

How To Become a Senior Loan Officer

If you're interested in becoming a senior loan officer, one of the first things to consider is how much education you need. We've determined that 53.1% of senior loan officers have a bachelor's degree. In terms of higher education levels, we found that 11.1% of senior loan officers have master's degrees. Even though most senior loan officers 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 senior loan officer. When we researched the most common majors for a senior loan officer, we found that they most commonly earn bachelor's degree degrees or associate degree degrees. Other degrees that we often see on senior loan officer resumes include master's degree degrees or high school diploma degrees.

You may find that experience in other jobs will help you become a senior loan officer. In fact, many senior loan officer jobs require experience in a role such as loan officer. Meanwhile, many senior loan officers also have previous career experience in roles such as branch manager or account executive.

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Average Salary$49,006
Job Growth Rate8%

Senior Loan Officer Jobs

Senior Loan Officer Career Paths

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Tell us your goals and we'll match you with the rights job to get there.

Average Salary for a Senior Loan Officer

Senior Loan Officers in America make an average salary of $49,006 per year or $24 per hour. The top 10 percent makes over $156,000 per year, while the bottom 10 percent under $15,000 per year.
Average Salary
$49,006

Best Paying Cities

City
Average Salary

Recently Added Salaries

Job TitleCompanyCompanyStart DateSalary
SR. Loan Officer
SR. Loan Officer
Robert Half
Robert Half
07/19/2020
07/19/2020
$59,00007/19/2020
$59,000
Senior Loan Officer
Senior Loan Officer
State of Wyoming
State of Wyoming
12/09/2019
12/09/2019
$58,07812/09/2019
$58,078
Senior Loan Officer
Senior Loan Officer
Cybercoders
Cybercoders
10/04/2019
10/04/2019
$120,00010/04/2019
$120,000
Senior Loan Officer
Senior Loan Officer
Fidelity First Mortgage
Fidelity First Mortgage
08/31/2019
08/31/2019
$100,00008/31/2019
$100,000
Senior Loan Officer
Senior Loan Officer
Ag Real Estate
Ag Real Estate
07/01/2019
07/01/2019
$40,00007/01/2019
$40,000
See More Recent Salaries

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Senior Loan Officer Demographics

Gender

Male

66.0 %

Female

30.5 %

Unknown

3.5 %
Ethnicity

White

61.5 %

Hispanic or Latino

16.9 %

Black or African American

11.2 %
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Foreign Languages Spoken

Spanish

63.7 %

French

5.9 %

Portuguese

3.4 %
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Senior Loan Officer Education

Schools

Arizona State University

10.5 %

Ohio State University

6.9 %

Ashford University

6.3 %

San Diego State University

5.9 %
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Majors

Business

39.5 %

Finance

11.3 %

Accounting

6.3 %

Marketing

4.8 %
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Degrees

Bachelors

53.1 %

Associate

15.2 %

Masters

11.1 %

High School Diploma

10.5 %
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Entry Level Jobs For Becoming A Senior Loan Officer

Job type you want
Full Time
Part Time
Internship
Temporary

Top Skills For a Senior Loan Officer

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, 32.1% of senior loan officers listed loan applications on their resume, but soft skills such as decisionmaking skills and interpersonal skills are important as well.

Best States For a Senior Loan Officer

Some places are better than others when it comes to starting a career as a senior loan officer. The best states for people in this position are New York, New Jersey, Pennsylvania, and Delaware. Senior loan officers make the most in New York with an average salary of $92,193. Whereas in New Jersey and Pennsylvania, they would average $85,269 and $84,859, respectively. While senior loan officers would only make an average of $83,109 in Delaware, 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. Rhode Island

Total Senior Loan Officer Jobs:
31
Highest 10% Earn:
$173,000
Location Quotient:
1.82
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. Delaware

Total Senior Loan Officer Jobs:
20
Highest 10% Earn:
$176,000
Location Quotient:
1.28
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 Senior Loan Officer Jobs:
181
Highest 10% Earn:
$180,000
Location Quotient:
1.22
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
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Senior Loan Officer 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 senior loan officer. 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 senior loan officer 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 Senior Loan Officer Resume

At Zippia, we went through countless senior loan officer 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 Senior Loan Officer Employers

1. Bank of America
4.8
Avg. Salary: 
$56,114
Senior Loan Officers Hired: 
122+
2. Wells Fargo
4.8
Avg. Salary: 
$42,050
Senior Loan Officers Hired: 
118+
3. H&R Block
4.6
Avg. Salary: 
$40,367
Senior Loan Officers Hired: 
77+
4. JPMorgan Chase
4.9
Avg. Salary: 
$75,304
Senior Loan Officers Hired: 
77+
5. Flagstar Bancorp
4.8
Avg. Salary: 
$55,621
Senior Loan Officers Hired: 
77+
6. HSBC North America Holdings
4.9
Avg. Salary: 
$77,514
Senior Loan Officers Hired: 
57+

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Recently Added Senior Loan Officer Jobs

Updated October 2, 2020