Education Career Articles

Connect Facebook Connect Twitter Connect Google+ Connect Pinterest Connect Stumbleupon

What is the Job Market Outlook for Loan Managers?

Job Market Outlook October 14, 2013

Loan managers are experienced loan officers with managerial and leadership skills. They make business work and are involved in everything from investment to business loans to advertising firms and even government offices. This is a very kind market to new entry level graduates straight from college, as it allows them to use their people skills to relate to households desiring a loan.

Education and Training

These workers will come from an educational background that prepares them for financial records supervision as well as budgeting. They may even work in investment, determining risk, and helping borrowers to become approved wherever possible. Loan managers assume weightier responsibilities, leading the team, training new employees, and instructing officers where needed. This is a job that requires a solid education, since lending is such a delicate process.

A college education is obviously a step in the right direction, although trends suggest that higher degrees, such as a PhD or a master’s degree, are more likely to land you a position in a competitive field. However, work experience is also preferred, as is an education in business administration. Training in computers and modern software programs is also important.

The popular hire-worthy candidate comes from an educational background and a resume boasting at least five years of experience working as a loan officer, or an accountant, or financial analyst.

Certification is also a worthy goal, and a CPA title, as well as a Certified Treasury Professional and Certified Risk Manager title, can make a good resume look great. All that is required is to fulfill the educational and work hour requirements and then take a computer exam.

The good news is that loan managers tend to make good money for their hard work, upwards of $103,000 per year. Of course, competing for these jobs is challenging and it shows—it is estimated that 4,000 loan officers quit the business every month of every year.

A Changing Industry

In fact, the whole industry is changing. Now lenders are changing the role of the loan officer to that of acquisitions; that he or she should be developing customer relationships and not merely overseeing transactions.

Sometimes managers now act in the capacity as officers, and may even incur longer work hours. This may well be because of the job turnover rate in this industry which is unusually bleak. Therefore, companies are not only in need of manpower but also of efficient systems that allow business to continue, undeterred by that turnover.

Another important issue to deal with is that of support quality, which is often questioned by borrowers who feel that back office staff is not giving their all. A lot of this boils down to poor communication skills. Therefore, understanding the loan process, its dynamics and psychology, is just one part of the deal, together with technology savvy and leadership ability.

You have the potential to break into this exciting field and progress—as a worker, a devoted accountant, and finally, a leader of business communication. Start your college training today!

Searching Searching ...

Matching School Ads
5 Program(s) Found
  • There's still time to apply to Grand Canyon University and pursue your education. Learn more today!
  • Study on your schedule - GCU offers many programs 100% online to fit your busy lifestyle.
  • GCU offers a variety of opportunities to reduce the cost of furthering your education. Campus students may qualify for scholarships, while online students can take part in limited special offers.
  • A regionally accredited university, GCU also holds specialized accreditations and approvals for some of our core program offerings.
  • Degrees in business, education, nursing, humanities and social sciences, theology and more. Find the degree that fits you.
  • Talk to us today to learn more about financial aid and start dates!
Good for Working Adults
  • Accredited
  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
  • Financial Aid
  • Transferable Credits
5 Program(s) Found
  • Become the leader you know you can be @ Ashford University
  • Apply Now! Classes Start Every Tuesday!
  • Online Courses
  • Financial Aid
  • Transferable Credits
5 Program(s) Found
  • Available business concentrations include Accounting, Economics, Marketing, and more.
  • Ranked among the Best Online MBA and Online Graduate Business Programs in 2016 by U.S. News & World Report.
  • Programmatic accreditation provided by the Accreditation Council for Business Schools and Programs (ACBSP).
  • Online Courses
  • Education Connection is a 100% Free College Matching Service used by 50,000 People Daily.
  • Get Matched to the Right Business Administration and Management, Accounting, Healthcare Administration, Marketing and Entrepreneurship Degree Program for YOU.
  • Affordable and Flexible Business Degree Programs from Top Colleges Across the Nation. Both Online And Campus!
  • Just Fill Out a Few Questions and You Can Find Your Perfect Business Degree Program Within Minutes.
  • Start Using our Fast, Free, and Easy Matching Service Right HERE and Right NOW!
  • Online Courses
  • Full Sail's curriculum combines elements of creativity, art, technical prowess, and academic achievement
  • Full Sail offers accelerated programs, so a degree that would normally take four years takes 24 months on average
  • Students gain real-world experience by working with industry-standard tools and technologies
  • Online Courses
  • Alumni have appeared in reality competition shows such as Top Chef and Project Runway
  • Design, media arts, fashion, and culinary programs available, with over 50 locations nationwide
  • Designated Program Coordinators focus on improving program content and ensure that students have the resources needed to learn
  • Start your journey! Classes starting Aug 17.
Good for Working Adults
  • Flexible Scheduling
  • Financial Aid

Searching Searching ...

Matching School Ads
5 Program(s) Found
  • Do you have entrepreneurial visions to advance your career in the business world? Learn about the options available at GCU.
  • Earn a competitive bachelor's or master's degree in the areas of business administration, business analytics, accounting, marketing and more.
  • Many of our business degrees have attained elite accreditation from the Accreditation Council for Business Schools & Programs (ACBSP).
  • GCU nurtures the startup spirit, propelling your entrepreneurial visions on a powerful platform with opportunities to help you thrive.
  • Pursue a next-generation education with an online program or join Grand Canyon University's vibrant and growing campus community in beautiful Phoenix, Arizona.
Good for Working Adults
  • Accredited
  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
  • Financial Aid
  • Transferable Credits
5 Program(s) Found
  • Become the leader you know you can be @ Ashford University
  • Apply Now! Classes Start Every Tuesday!
  • Online Courses
  • Financial Aid
  • Transferable Credits
5 Program(s) Found
  • Available business concentrations include Accounting, Economics, Marketing, and more.
  • Ranked among the Best Online MBA and Online Graduate Business Programs in 2016 by U.S. News & World Report.
  • Programmatic accreditation provided by the Accreditation Council for Business Schools and Programs (ACBSP).
  • Online Courses
  • Education Connection is a 100% Free College Matching Service used by 50,000 People Daily.
  • Get Matched to the Right Business Administration and Management, Accounting, Healthcare Administration, Marketing and Entrepreneurship Degree Program for YOU.
  • Affordable and Flexible Business Degree Programs from Top Colleges Across the Nation. Both Online And Campus!
  • Just Fill Out a Few Questions and You Can Find Your Perfect Business Degree Program Within Minutes.
  • Start Using our Fast, Free, and Easy Matching Service Right HERE and Right NOW!
  • Online Courses
  • Full Sail's curriculum combines elements of creativity, art, technical prowess, and academic achievement
  • Full Sail offers accelerated programs, so a degree that would normally take four years takes 24 months on average
  • Students gain real-world experience by working with industry-standard tools and technologies
  • Online Courses

Login to your account

Can't remember your Password ?

Register for this site!