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Career and Education Opportunities for Loan Officers in Oklahoma

Oklahoma has a population of 3,687,050, which has grown by 6.85% in the last 10 years. Nicknamed the "Sooner State," Oklahoma's capital and biggest city is Oklahoma City.

There are currently 3,670 working loan officers in Oklahoma; this should grow 11% to about 4,090 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.

A person working as a loan officer can expect to earn about $19 hourly or $39,870 per year on average in Oklahoma and about $26 per hour or $54,700 annually on average in the U.S. as a whole. Loan officers earn less than people working in the category of Accounting and Auditing generally in Oklahoma and less than people in the Accounting and Auditing category nationally. Loan officers work in a variety of jobs, including: loan service officer, loan reviewer, and corporate banking officer.

In 2008, there were a total of 2,206,469 jobs in Oklahoma. The average annual income was $35,969 in 2008, up from $34,298 the previous year. The unemployment rate in Oklahoma was 6.4% in 2009, which has grown by 2.7% since the previous year. Roughly 20.3% of Oklahoma residents have college degrees, which is lower than the national average.

The top industries in Oklahoma include boiler, tank, and shipping container manufacturing, pump manufacturing, and oil field machinery manufacturing. Notable tourist destinations include the Banker Art Museum, the Lifehouse, and the Oklahoma Historical Society.

CITIES WITH Loan Officer OPPORTUNITIES IN Oklahoma


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 Oklahoma 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: Oklahoma

Oklahoma
Oklahoma photo by Nyttend

Oklahoma has a population of 3,687,050, which has grown by 6.85% over the past decade. Nicknamed the "Sooner State," Oklahoma's capital and biggest city is Oklahoma City. In 2008, there were a total of 2,206,469 jobs in Oklahoma. The average annual income was $35,969 in 2008, up from $34,298 the previous year. The unemployment rate in Oklahoma was 6.4% in 2009, which has grown by 2.7% since the previous year. Approximately 20.3% of Oklahoma residents have college degrees, which is lower than the national average.

The top industries in Oklahoma include boiler, tank, and shipping container manufacturing, pump manufacturing, and oil field machinery manufacturing. Notable tourist attractions include the Amateur Softball Association of Amrca NTNL Hdqrtrs, the National Cowboy & Western Heritage Museum, and the Oklahoma Museums Association.