Loan Officer

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AVG. SALARY

$86,020

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EDUCATION

Bachelor's degree

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JOB OUTLOOK

Stable

Money & Outlook

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Oklahoma Earnings

Average Annual Wage

$86,020

Entry Annual Wage

$36,510

Experienced Annual Wage

$158,710

Average Hourly Wage

$41.36

Entry Hourly Wage

$17.55

Experienced Hourly Wage

$76.30

Median Hourly Wage

$35.09

Oklahoma Regional Earnings

Oklahoma Metropolitan Areas Wages

Region Average Entry Level Experienced
Enid MSA $110,150 or $52.96/hr $54,990 or $26.44/hr $192,970 or $92.78/hr
Fort Smith AR-OK MSA $79,050 or $38.00/hr $35,160 or $16.90/hr $139,930 or $67.27/hr
Lawton MSA $71,810 or $34.52/hr $33,990 or $16.34/hr $130,940 or $62.95/hr
Oklahoma City MSA $83,570 or $40.18/hr $35,780 or $17.20/hr $157,630 or $75.78/hr
Tulsa MSA $97,390 or $46.82/hr $38,440 or $18.48/hr $164,820 or $79.24/hr

Oklahoma Geographical Areas Wages

Region Average Entry Level Experienced
Northeast Oklahoma nonmetropolitan area $82,560 or $39.69/hr $41,650 or $20.02/hr $134,520 or $64.67/hr
Northwest Oklahoma nonmetropolitan area $85,140 or $40.93/hr $42,090 or $20.24/hr $139,720 or $67.18/hr
Southwest Oklahoma nonmetropolitan area $84,630 or $40.69/hr $43,450 or $20.89/hr $155,620 or $74.82/hr
Southeast Oklahoma nonmetropolitan area $82,100 or $39.47/hr $35,670 or $17.15/hr $126,480 or $60.81/hr

Oklahoma's Employment and Outlook (State-wide)

Outlook Stable
Growth rate is estimated to be 4%
Job Openings 330 estimated annual job openings
Employment 4,610 were employed in this occupation

Oklahoma's Regional Employment and Outlook

Regions with stable outlook (0 to 20% growth rate expected)

Region Employment Projected Growth Rate Annual Openings (growth) Annual Openings (replacement) Annual Openings
Northeast 320 9% 3 N/A 25
Northwest 380 8% 3 N/A 29
Southeast 580 5% 3 N/A 43
Southwest 250 4% 2 N/A 19
Tulsa MSA 1,260 4% 5 N/A 91
Lawton MSA 140 7% 1 N/A 11
Oklahoma City MSA 2,130 12% 25 N/A 176

National Earnings

Average Annual Wage

$87,790

Average Hourly Wage

$42.21

Average Annual Range

$39,430 to $153,180

Note: variations in salaries reflect differences in size of firm, location, level of education and professional credentials.

Where do these numbers come from?


National Employment and Outlook

Outlook stable
  The employment change from 2024 to 2034 is estimated to be +2%.
(The National average for all occupations is +3%)
Job Openings very small number
  A total of 2030 average annual openings are expected for this occupation between 2024 and 2034.
(The National Average for all occupations is 1,696 openings)
Employment medium occupation
  This was a medium sized occupation in the United States, employing 301,400 workers in 2024.
(The National average for all occupations is 152,838 workers)
Growth Slower than average growth
  Increased demand for loan officers is expected as both businesses and individuals seek credit to finance commercial investments and personal spending. Loan officers will be needed to evaluate the creditworthiness of applicants and determine the likelihood that loans will be paid back in full and on time. However, the decline of bank branches and the increased use of productivity-enhancing technology in loan processing are expected to slow employment growth. 
Industries Large concentrations of this occupation are found in these industries
  • Finance and insurance (NAICS520000) (82.5%)
  • Credit intermediation and related activities (NAICS522000) (79%)
  • Nondepository credit intermediation (NAICS522200) (27.2%)
  • Other Nondepository Credit Intermediation (NAICS522290) (23.8%)