The table below provides information about the number of workers in this career in various regions. It also provides information about the expected growth rate and future job openings.
Employment
Major employers:
- Banks and credit unions
- Mortgage bankers and brokers
- Personal credit companies
Outlook
Growth for this career will be about as fast as average. The number of loan applications processed each year is expected to increase as more people apply for loans. However, the increased use of technology that allows loan officers to be more efficient will reduce the number of workers needed, slowing growth.
The job outlook in this career is affected by changes in the economy. An economic downturn and a rise in interest rates could lead to a drop in demand for loans. Job prospects are best for people with banking, loan, or sales experience.
Loan Officers (CIS 100362)
| Location | Employment | & | Growth | >>>> | Annual openings | |
| This occupation |
All occupations |
|||||
| Illinois |
12,439 Large |
& |
-0.1% |
8.2% |
>>>> |
942 High |
| Champaign Area |
229 Medium |
& |
-8.3% |
5.2% |
>>>> |
15 Very few |
| Charleston-Effingham-Centralia Area |
226 Medium |
& |
-0.9% |
2.9% |
>>>> |
17 Very few |
| Cook County |
6,272 Large |
& |
3.0% |
9.2% |
>>>> |
503 High |
| Decatur Area |
92 Small |
& |
-1.1% |
3.8% |
>>>> |
7 Very few |
| DeKalb-Elgin-Aurora Area |
597 Large |
& |
-5.0% |
10.3% |
>>>> |
41 Few |
| Du Page County |
1,138 Large |
& |
-4.7% |
8.8% |
>>>> |
79 Few |
| Edwardsville Area |
209 Medium |
& |
-3.3% |
12.4% |
>>>> |
14 Very few |
| Jacksonville-Carlinville-Litchfield Area |
108 Medium |
& |
-12.0% |
-0.2% |
>>>> |
7 Very few |
| Kankakee-Morris-Pontiac Area |
119 Medium |
& |
0.8% |
6.0% |
>>>> |
9 Very few |
| Lake County |
1,095 Large |
& |
7.0% |
11.7% |
>>>> |
94 Moderate |
| McHenry County |
116 Small |
& |
-9.5% |
7.6% |
>>>> |
7 Very few |
| Mt Vernon-Marion-Carbondale Area |
169 Medium |
& |
-6.5% |
4.4% |
>>>> |
12 Very few |
| Northwest Illinois Area |
242 Medium |
& |
-4.1% |
4.3% |
>>>> |
17 Very few |
| Peoria-Bloomington Area |
428 Medium |
& |
-4.2% |
4.5% |
>>>> |
30 Few |
| Quincy-Macomb-Galesburg Area |
160 Medium |
& |
-10.0% |
3.5% |
>>>> |
9 Very few |
| Rock Island-Moline Area |
180 Medium |
& |
-5.6% |
5.6% |
>>>> |
13 Very few |
| Rockford Area |
208 Medium |
& |
-9.1% |
6.6% |
>>>> |
13 Very few |
| Shawnee National Forest Area |
93 Medium |
& |
-7.5% |
1.1% |
>>>> |
6 Very few |
| Springfield Area |
298 Medium |
& |
-7.7% |
4.6% |
>>>> |
20 Very few |
| St Louis-Belleville Area |
188 Medium |
& |
-9.0% |
0.9% |
>>>> |
12 Very few |
| Vermilion County |
27 Very small |
& |
-7.4% |
-0.5% |
>>>> |
2 Very few |
| Will County |
243 Medium |
& |
-4.1% |
14.9% |
>>>> |
17 Very few |
| United States |
334,100 Large |
& |
1.4% |
4.0% |
>>>> |
22,900 Moderate |