Career and Education Opportunities for Loan Officers in South Carolina
South Carolina has a population of 4,561,242, which has grown by 13.69% in the last 10 years. Nicknamed the "Palmetto State," South Carolina's capital and most populous city is Columbia.
There are currently 4,590 working loan officers in South Carolina; this should grow by 9% to about 5,010 working loan officers in the state by 2016. This is not quite as good as the nation as a whole, where employment opportunities for loan officers are expected to grow by about 10.1%. 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 $50,530 yearly on average in South Carolina. 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 South Carolina, and not quite as good as the overall Accounting and Auditing category nationally. Loan officers work in a variety of jobs, including: mortgage specialist, loan consultant, and corporate banking officer.
In 2008, there were a total of 2,579,280 jobs in South Carolina. The average annual income was $32,495 in 2008, up from $31,925 in 2007. The unemployment rate in South Carolina was 11.7% in 2009, which has grown by 4.8% since the previous year. About 20.4% of South Carolina residents have college degrees, which is lower than the national average.
The top industries in South Carolina include engine, turbine, and power transmission equipment manufacturing, textile mills, and plastics products manufacturing. Notable tourist attractions include the University of South Carolina, the Columbia Museum of Art, and the Edventure.
CITIES WITH Loan Officer OPPORTUNITIES IN South Carolina
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 South Carolina 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.
- 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: South Carolina
South Carolina has a population of 4,561,242, which has grown by 13.69% over the past 10 years. Nicknamed the "Palmetto State," South Carolina's capital and biggest city is Columbia. In 2008, there were a total of 2,579,280 jobs in South Carolina. The average annual income was $32,495 in 2008, up from $31,925 the preceding year. The unemployment rate in South Carolina was 11.7% in 2009, which has grown by 4.8% since the previous year. Approximately 20.4% of South Carolina residents have college degrees, which is lower than the national average.
The top industries in South Carolina include engine, turbine, and power transmission equipment manufacturing, textile mills, and plastics products manufacturing. Notable tourist attractions include the Edventure, the University of South Carolina, and the The Church of Jesus Christ of Latter.