Career and Education Opportunities for Loan Officers in Maine
Maine has a population of 1,318,301, which has grown by 3.40% in the last 10 years. Nicknamed the "Pine Tree State," its capital is Augusta, though its most populous city is Portland.
There are currently 1,510 working loan officers in Maine; this should grow 9% to 1,650 working loan officers in the state by 2016. This is not quite as good as 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.
The income of a loan officer is about $24 hourly or $51,060 annually on average in Maine. In the U.S. as a whole, their income is about $26 hourly or $54,700 annually on average. Incomes for loan officers are better than in the overall category of Accounting and Auditing in Maine, and not quite as good as the overall Accounting and Auditing category nationally. Jobs in this field include: loan examiner, relationship manager, and loan counselor.
In 2008, there were a total of 840,874 jobs in Maine. The average annual income was $36,368 in 2008, up from $35,028 in 2007. The unemployment rate in Maine was 8.0% in 2009, which has grown by 2.7% since the previous year. Roughly 22.9% of Maine residents have college degrees, which is lower than the national average.
The top industries in Maine include paper manufacturing, pulp, paper, and paperboard mills, and direct selling establishments. Notable tourist attractions include the Maine Historical Society Museum, the Center for Maine History, and the Tate House Museum.
CITIES WITH Loan Officer OPPORTUNITIES IN Maine
JOB DESCRIPTION: Loan Officer
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 Maine 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.
- Loan Counselor. Provide guidance to prospective loan applicants who have problems qualifying for traditional loans. Guidance may include determining the best type of loan and explaining loan requirements or restrictions.
- 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: Maine
Maine has a population of 1,318,301, which has grown by 3.40% over the past decade. Nicknamed the "Pine Tree State," its capital is Augusta, though its biggest city is Portland. In 2008, there were a total of 840,874 jobs in Maine. The average annual income was $36,368 in 2008, up from $35,028 the previous year. The unemployment rate in Maine was 8.0% in 2009, which has grown by 2.7% since the previous year. Approximately 22.9% of Maine residents have college degrees, which is lower than the national average.
The top industries in Maine include paper manufacturing, pulp, paper, and paperboard mills, and direct selling establishments. Notable tourist attractions include the Maine Womens Chistian Temperance Union, the Tate House Museum, and the Portland Harbor Museum.