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Career and Education Opportunities for Loan Officers in Idaho

Idaho has a population of 1,545,801, which has grown by 19.46% over the past 10 years. Nicknamed the "Gem State," Idaho's capital and largest city is Boise.

About 2,310 people are currently employed as loan officers in Idaho. By 2016, this is expected to grow 33% to about 3,080 people employed. This is better than the nation as a whole, where employment opportunities for loan officers are expected to grow by about 10.1%. In general, loan officers evaluate, authorize, or recommend approval of commercial, real estate, or credit loans.

Loan officers earn about $23 per hour or $48,740 per year on average in Idaho and about $26 per hour or $54,700 yearly on average nationally. Compared with people working in the overall category of Accounting and Auditing, people working as loan officers in Idaho earn more. They earn less than people working in the overall category of Accounting and Auditing nationally. Jobs in this field include: mortgage or loan underwriter, loan auditor, and farm loan representative.

In 2008, there were a total of 939,793 jobs in Idaho. The average annual income was $32,994 in 2008, up from $32,837 in 2007. The unemployment rate in Idaho was 8.0% in 2009, which has grown by 3.1% since the previous year. About 21.7% of Idaho residents have college degrees, which is lower than the national average.

The top industries in Idaho include semiconductor electronic component manufacturing, fruit preserving food manufacturing, and frozen food manufacturing.

CITIES WITH Loan Officer OPPORTUNITIES IN Idaho


JOB DESCRIPTION: Loan Officer

Loan Officer video from the State of New Jersey Dept. of Labor and Workforce Development

In general, loan officers evaluate, authorize, or recommend approval of commercial, real estate, or credit loans. They also advise borrowers on financial status and methods of payments.

Every day, loan officers are expected to be able to articulate ideas and problems. They need to see details at a very fine level of focus. It is also important that they listen to and understand others in meetings.

Similar jobs with educational opportunities in Idaho include:

  • Accountant. Analyze financial information and prepare financial reports to determine or maintain records of assets, liabilities, profit and loss, tax liability, or other financial activities within an organization.
  • Auditor. Examine and analyze accounting records to determine financial status of establishment and prepare financial reports concerning operating procedures.
  • Budget Analyst. Examine budget estimates for completeness, accuracy, and conformance with procedures and regulations. Analyze budgeting and accounting reports for the purpose of maintaining expenditure controls.
  • Credit Analyst. Analyze current credit data and financial statements of individuals or firms to determine the degree of risk involved in extending credit or lending money. Prepare reports with this credit information for use in decision-making.
  • Financial Analyst. Conduct quantitative analyses of information affecting investment programs of public or private institutions.
  • Financial Examiner. Enforce or ensure compliance with laws and regulations governing financial and securities institutions and financial and real estate transactions. May examine, verify correctness of, or establish authenticity of records.
  • Income Tax Advisor. Prepare tax returns for individuals or small businesses but do not have the background or responsibilities of an accredited or certified public accountant.
  • Personal Financial Planner. Advise clients on financial plans utilizing knowledge of tax and investment strategies, securities, and real estate. Duties include assessing clients' assets, liabilities, and financial objectives to establish investment strategies.
  • Tax Examiner. Determine tax liability or collect taxes from individuals or business firms according to prescribed laws and regulations.

LOCATION INFORMATION: Idaho

Idaho
Idaho photo by the U.S. Dept. of Agriculture

Idaho has a population of 1,545,801, which has grown by 19.46% in the last 10 years. Nicknamed the "Gem State," Idaho's capital and biggest city is Boise. In 2008, there were a total of 939,793 jobs in Idaho. The average annual income was $32,994 in 2008, up from $32,837 the previous year. The unemployment rate in Idaho was 8.0% in 2009, which has grown by 3.1% since the previous year. Roughly 21.7% of Idaho residents have college degrees, which is lower than the national average.

The top industries in Idaho include semiconductor electronic component manufacturing, fruit preserving food manufacturing, and frozen food manufacturing.