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Career and Education Opportunities for Loan Officers in West Virginia

West Virginia has a population of 1,819,777, which has grown by 0.63% over the past 10 years. Nicknamed the "Mountain State," West Virginia's capital and biggest city is Charleston.

There are currently 1,110 jobs for loan officers in West Virginia and this is projected to shrink by 3% to about 1,080 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. Loan officers generally evaluate, authorize, or recommend approval of commercial, real estate, or credit loans.

A person working as a loan officer can expect to earn about $22 per hour or $47,120 per year on average in West Virginia and about $26 per hour or $54,700 per year on average in the U.S. as a whole. Earnings for loan officers are better than earnings in the general category of Accounting and Auditing in West Virginia and not quite as good as general Accounting and Auditing category earnings nationally. Loan officers work in a variety of jobs, including: relationship manager, portfolio manager, and loan coordinator.

In 2008, there were a total of 934,944 jobs in West Virginia. The average annual income was $31,634 in 2008, up from $30,121 the preceding year. The unemployment rate in West Virginia was 7.9% in 2009, which has grown by 3.6% since the previous year. Roughly 14.8% of West Virginia residents have college degrees, which is lower than the national average.

The top industries in West Virginia include bituminous coal underground mining, plastics material manufacturing, and pipeline transportation. Notable tourist destinations include the Southridge Grand PRIX and Family Fun Center, the West Virginia Humanities, and the South Charleston Museum.

CITIES WITH Loan Officer OPPORTUNITIES IN West Virginia


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 West Virginia 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: West Virginia

West Virginia
West Virginia photo by the U.S. Dept. of Transportation

West Virginia has a population of 1,819,777, which has grown by 0.63% over the past 10 years. Nicknamed the "Mountain State," West Virginia's capital and biggest city is Charleston. In 2008, there were a total of 934,944 jobs in West Virginia. The average annual income was $31,634 in 2008, up from $30,121 in 2007. The unemployment rate in West Virginia was 7.9% in 2009, which has grown by 3.6% since the previous year. Approximately 14.8% of West Virginia residents have college degrees, which is lower than the national average.

The top industries in West Virginia include bituminous coal underground mining, plastics material manufacturing, and pipeline transportation. Notable tourist attractions include the P A Denny, the Robert C Byrd Health Sciences C of W Vrgna Unvrsty, and the Craik.