Career Details

Commercial Loan Officer


Career Overview

A loan officer reviews and evaluates loan applications and potentially awards loans to applicants. James, the loan officer featured in the video, deals with commercial loans (loans related to real estate, machinery, and equipment that will be used by a business).


A four-year bachelor’s degree in accounting, finance, marketing, or a related field is required to obtain this position. A master's degree in business (MBA), which may take an additional two-three years to earn, would be more valuable.

Salary Expectations

Low End:
High End:
$32,000 /yr
$63,000 /yr
$132,000 /yr

Recommended Courses

  • Psychology
  • Math - as much as possible!
  • English - as much as possible!
  • Communication
  • Take as many college-prep courses as possible!
  • Finance
Future Outlook

The job outlook for this position looks good over the next 10 years, keeping in mind that geographical differences may exist.

Jobs: Check Available Jobs!

Work Environment

Loan officers work in banks, credit unions, and other financing-related institutions.


Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook

Explore Careers, Labour Market Information, Government of Canada