Loan Officer Salary With Bachelor's Degree
Do you need a Bachelors Degree to be an Intermediate Consumer Loan Officer. An entry-level loan officer can earn around 1450 per hour while highly experienced professionals can earn 57 per hour and even more.
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Although loan officers need at least a high school diploma a bachelors degree in business economics finance or other related fields can help one.
Loan officer salary with bachelor's degree. 1 These financial professionals must have a bachelors degree and increasingly a. Salaries vary depending on the specific job. Alongside their base salary it is not uncommon for loan officers to receive commission for their work as well.
The average Loan Officer II salary in the United States is 109430 as of April 27 2021 but the range typically falls between 61790 and 130870. Salaries for Mortgage Loan Officer I with a Bachelors Degree According to our 100 employer reported salary sources the median salary for a Mortgage Loan Officer I with a Bachelors Degree is 40851 - 45494. Do you need a Bachelors Degree to be a Senior Loan Officer.
Salary Rankings And Facts 165 Nationally for All Careers. The base salary for Loan Officer I ranges from 72900 to 132870 with the average base salary of 110480. As of 2013 there were a total of 301860 employed loan officers in the US.
Earn a Bachelors Degree. Salaries for Mortgage Loan Officer II with a Bachelors Degree According to our 100 employer reported salary sources the median salary for a Mortgage Loan Officer II with a Bachelors Degree is 46490 - 56340. The average Loan Officer I salary in the United States is 91840 as of June 28 2021 but the range typically falls between 60600 and 110450.
On average loan officers can make a little more than 59500 per year in the United States. They must generally have a Mortgage Loan. According to our data 0 of Senior Loan Officer have a Bachelors degree.
The average loan officer makes a median income of 46000 per year while those on the high-end of the scale can make up to 74000 annually. According to Indeed the average loan officer salary is 74150 with 38300 of this in the form of commissions. However in 2019 the BLS reported the median annual salary of loan officers as 63270 with the top ten percent earning an annual salary of more than.
Loan officer salaries vary by career path but hard work is typically rewarded. You must generally have a bachelors degree in finance economics or a related field to work as a loan officer. Salary ranges can vary widely depending on many important factors including education certifications additional skills the number of years you have spent in your profession.
Based on the latest jobs data nationwide Loan Officers can make an average annual salary of 75170 or 36 per hour. According to our data 53 of Intermediate Consumer Loan Officer have a Bachelors degree. The total cash compensation which includes base and annual incentives can vary anywhere from 73200 to 152310 with the average total cash compensation of 113290.
Salary ranges can vary widely depending on many important factors including education certifications additional skills the number of years you have spent in your profession. According to the Bureau of Labor Statistics BLS the median annual salary was 71800 in May of 2013 with a projected job growth of 8 through 2022. There are currently no specific licensing requirements for loan officers working in banks or credit unions but licensing requirements for loan officers who work in mortgage banks or brokerages can vary by state.
In case you decide to choose this career path you can expect to earn anywhere between 30000 and 118000 annually. However a CNN Money report determines the average loan officer salary is 64660 with a large range between the high and low side. On the lower end they can make 44740 or 22 per hour perhaps when just starting out or based on the state you live in.
The BLS predicts the job market will require 22900 more loan officers through 2022.
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