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Career and Education Opportunities for Loan Officers in Mississippi

Mississippi has a population of 2,951,996, which has grown by 3.77% in the last 10 years. Nicknamed the "Magnolia State," Mississippi's capital and most populous city is Jackson.

Currently, 2,500 people work as loan officers in Mississippi. This is expected to grow 20% to 3,000 people 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.

A person working as a loan officer can expect to earn about $24 per hour or $50,370 per year on average in Mississippi and about $26 hourly or $54,700 annually on average in the U.S. as a whole. Loan officers earn more than people working in the category of Accounting and Auditing generally in Mississippi and less than people in the Accounting and Auditing category nationally. People working as loan officers can fill a number of jobs, such as: loan adviser, loan specialist, and mortgage specialist.

In 2008, there were a total of 1,558,262 jobs in Mississippi. The average annual income was $30,383 in 2008, up from $29,542 in 2007. The unemployment rate in Mississippi was 9.6% in 2009, which has grown by 2.8% since the previous year. Roughly 16.9% of Mississippi residents have college degrees, which is lower than the national average.

The top industries in Mississippi include furniture product manufacturing, household furniture cabinet manufacturing, and household furniture manufacturing. Notable tourist attractions include the Medgar Evers Museum, the Oaks Museum House, and the Mississippi Museum of Natural Science.

CITIES WITH Loan Officer OPPORTUNITIES IN Mississippi


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 Mississippi 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: Mississippi

Mississippi
Mississippi photo by Nathan Culpepper

Mississippi has a population of 2,951,996, which has grown by 3.77% over the past decade. Nicknamed the "Magnolia State," Mississippi's capital and biggest city is Jackson. In 2008, there were a total of 1,558,262 jobs in Mississippi. The average annual income was $30,383 in 2008, up from $29,542 the previous year. The unemployment rate in Mississippi was 9.6% in 2009, which has grown by 2.8% since the previous year. About 16.9% of Mississippi residents have college degrees, which is lower than the national average.

The top industries in Mississippi include furniture product manufacturing, household furniture cabinet manufacturing, and household furniture manufacturing. Notable tourist destinations include the Audubon Society Jackson Chapter, the Manship House Museum, and the Glory of Baroque Dresden Exhibition.