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Career and Education Opportunities for Loan Officers in Ohio

Ohio has a population of 11,542,645, which has grown by 1.67% over the past decade. Nicknamed the "Buckeye State," Ohio's capital and largest city is Columbus.

There are currently 11,650 jobs for loan officers in Ohio and this is projected to grow 8% to about 12,610 jobs 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 $22 hourly or $47,730 per year on average in Ohio. In the U.S. as a whole, their income is about $26 per hour or $54,700 annually on average. Compared with people working in the overall category of Accounting and Auditing, people working as loan officers in Ohio earn less. They earn less than people working in the overall category of Accounting and Auditing nationally. Loan officers work in a variety of jobs, including: commercial banker, loan reviewer, and bank representative.

In 2008, there were a total of 6,819,050 jobs in Ohio. The average annual income was $35,889 in 2008, up from $35,174 the preceding year. The unemployment rate in Ohio was 10.2% in 2009, which has grown by 3.6% since the previous year. Approximately 21.1% of Ohio residents have college degrees, which is lower than the national average.

The top industries in Ohio include fabricated metal product manufacturing, soap detergent manufacturing, and forging. Notable tourist attractions include the Gahanna Historical Society, the Franklin Park Conservatory, and the Columbus Jewish Historical.

CITIES WITH Loan Officer OPPORTUNITIES IN Ohio


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 Ohio 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.
  • Assessor. Appraise real and personal property to determine its fair value. May assess taxes in accordance with prescribed schedules.
  • 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.
  • Insurance Underwriter. Review individual applications for insurance to evaluate degree of risk involved and determine acceptance of applications.
  • 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.
  • Real Estate Appraiser. Appraise real property to determine its value for purchase, sales, or loan purposes.
  • Tax Examiner. Determine tax liability or collect taxes from individuals or business firms according to prescribed laws and regulations.

LOCATION INFORMATION: Ohio

Ohio
Ohio photo by Matthew Trump

Ohio has a population of 11,542,645, which has grown by 1.67% over the past decade. Nicknamed the "Buckeye State," Ohio's capital and most populous city is Columbus. In 2008, there were a total of 6,819,050 jobs in Ohio. The average annual income was $35,889 in 2008, up from $35,174 in 2007. The unemployment rate in Ohio was 10.2% in 2009, which has grown by 3.6% since the previous year. Roughly 21.1% of Ohio residents have college degrees, which is lower than the national average.

The top industries in Ohio include fabricated metal product manufacturing, soap detergent manufacturing, and forging. Notable tourist destinations include the Columbus Museum of Art, the Columbus Jewish Historical, and the COSI.