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Career and Education Opportunities for Loan Officers in Louisiana

Louisiana has a population of 4,492,076, which has grown by 0.52% in the last 10 years. Nicknamed the "Pelican State," its capital is Baton Rouge, though its largest city is New Orleans.

There are currently 5,090 working loan officers in Louisiana; this should grow 15% to 5,830 working loan officers in the state by 2016. This is better than the national trend for loan officers, which sees this job pool growing by about 10.1% over the next eight years. In general, loan officers evaluate, authorize, or recommend approval of commercial, real estate, or credit loans.

Loan officers earn approximately $18 per hour or $39,370 annually on average in Louisiana. Nationally they average about $26 per hour or $54,700 yearly. Compared with people working in the overall category of Accounting and Auditing, people working as loan officers in Louisiana earn less. 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 administrator, and commercial loan officer.

In 2008, there were a total of 2,576,960 jobs in Louisiana. The average annual income was $36,091 in 2008, up from $35,340 in 2007. The unemployment rate in Louisiana was 6.8% in 2009, which has grown by 2.3% since the previous year. Roughly 18.7% of Louisiana residents have college degrees, which is lower than the national average.

The top industries in Louisiana include petroleum products manufacturing, petroleum refineries, and basic chemical manufacturing. Notable tourist attractions include the Musee Conti Wax Museum, the American Italian Renaissance Foundation, and the Reverend Zombies House of Voodoo.

CITIES WITH Loan Officer OPPORTUNITIES IN Louisiana


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 Louisiana 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: Louisiana

Louisiana
Louisiana photo by Lane Lefort

Louisiana has a population of 4,492,076, which has grown by 0.52% over the past 10 years. Nicknamed the "Pelican State," its capital is Baton Rouge, though its largest city is New Orleans. In 2008, there were a total of 2,576,960 jobs in Louisiana. The average annual income was $36,091 in 2008, up from $35,340 in 2007. The unemployment rate in Louisiana was 6.8% in 2009, which has grown by 2.3% since the previous year. Roughly 18.7% of Louisiana residents have college degrees, which is lower than the national average.

The top industries in Louisiana include petroleum products manufacturing, petroleum refineries, and basic chemical manufacturing. Notable tourist attractions include the Longue Vue House & Gardens, the Reverend Zombies House of Voodoo, and the Louisiana Children's Museum.