Loan officers
SOC Code: 13-2072
Loan officers carries a 69% AI exposure score (Very High automation risk), with a median annual wage of $74,180 and +1.7% projected employment growth from 2024 to 2034 (BLS), affecting approximately 301,400 workers. Full task breakdown, skills, and employer data are below.
Proportion of tasks susceptible to AI automation (O*NET analysis)
AI Exposure vs Industry Growth
Total occupations tracked
832
Covering all SOC major groups
Data currency
2024
BLS Employment Projections
AI exposure avg
40%
Fleet-wide median across all roles
Composite score weighing O*NET task data completeness, BLS projection methodology, and cross-validation with employer risk grades.
Employment Projections
Occupation Insight
Loan officers (SOC 13-2072) carries an AI exposure score of 69%, placing it in the Very High automation-risk tier. This score is computed from O*NET Database 30.0 task-level analysis, where each task an occupation performs is evaluated against current generative AI, robotic process automation, and machine-learning capabilities. A score in the 40–70% range indicates meaningful automation pressure on specific task categories, but the role as a whole still requires human judgment for coordination, exception handling, or client interaction.
The economic context matters alongside the risk score. BLS counted approximately 301,400 workers in this occupation in 2024, and projects a +1.7% change through 2034 — modest growth that keeps the occupation viable even as tasks evolve. Median annual compensation stands at $74,180, reflecting both skill scarcity and the value employers place on the tasks that remain difficult to automate. Entry typically requires Bachelor's degree, plus Less than 5 years of related experience.
For career planners, this profile should be read alongside the task, skill, and knowledge breakdowns below and the list of employers whose workforce composition includes Loan officers. Adjacent occupations shown further down offer lateral moves that preserve industry knowledge while potentially reducing exposure. Pair the AI exposure score with the BLS employment projection and wage percentiles above for a complete career assessment.
Education & Entry Requirements
Top Tasks (O*NET)
- 1. Meet with applicants to obtain information for loan applications and to answer questions about the process.
- 2. Analyze applicants' financial status, credit, and property evaluations to determine feasibility of granting loans.
- 3. Approve loans within specified limits, and refer loan applications outside those limits to management for approval.
- 4. Explain to customers the different types of loans and credit options that are available, as well as the terms of those services.
- 5. Submit applications to credit analysts for verification and recommendation.
- 6. Review loan agreements to ensure that they are complete and accurate according to policy.
- 7. Review and update credit and loan files.
- 8. Obtain and compile copies of loan applicants' credit histories, corporate financial statements, and other financial information.
- 9. Work with clients to identify their financial goals and to find ways of reaching those goals.
- 10. Handle customer complaints and take appropriate action to resolve them.
Key Skills Required
- Active Listening
- Speaking
- Reading Comprehension
- Judgment and Decision Making
- Critical Thinking
- Writing
- Mathematics
- Social Perceptiveness
- Complex Problem Solving
- Active Learning
Knowledge Areas
- Customer and Personal Service
- Economics and Accounting
- English Language
- Mathematics
- Sales and Marketing
- Law and Government
- Administration and Management
- Education and Training
- Administrative
- Computers and Electronics
Frequently Asked Questions
Will AI replace Loan officers?
Loan officers has an AI exposure score of 69%, indicating a very high level of automation risk. Some tasks in this role can be augmented or partially automated by AI, but core responsibilities require human judgment.
What is the job outlook for Loan officers?
According to BLS Employment Projections 2024-2034, Loan officers is projected to grow by 1.7% over the decade. Current employment stands at approximately 301,400 workers.
What skills are needed for Loan officers?
Key skills for Loan officers include Active Listening, Speaking, Reading Comprehension, and others. Typical entry-level education is Bachelor's degree.
How much do Loan officers earn?
The median annual wage for Loan officers is $74,180, according to BLS Occupational Employment and Wage Statistics (May 2024). Actual earnings vary by location, experience, industry, and employer. The BLS publishes detailed wage percentiles by region in its Occupational Employment and Wage Statistics program.
What education is required for Loan officers?
The typical entry-level education for Loan officers is Bachelor's degree. Employers generally expect Less than 5 years of related work experience. On-the-job training typically involves Moderate-term on-the-job training. Requirements can vary by employer and specialization.
Which companies employ Loan officers?
Loan officers roles exist across many industries and employers. Workforce composition is estimated from BLS industry-occupation employment distributions matched to SEC-registered public companies.
AI Exposure Rating
Very High automation risk based on 10 analyzed tasks. A majority of tasks in this occupation are susceptible to AI automation.
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Data sources: Bureau of Labor Statistics Employment Projections 2024–2034 and O*NET Database 30.0. Employment figures are rounded. Wage data from BLS Occupational Employment Statistics (OES).