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Job outlook for loan analysts in the United States
Loan analyst job growth summary. After extensive research, interviews, and analysis, Zippia's data science team found that:
The projected loan analyst job growth rate is 4% from 2018-2028.
About 12,600 new jobs for loan analysts are projected over the next decade.
Loan analyst salaries have increased 0% for loan analysts in the last 5 years.
There are over 50,608 loan analysts currently employed in the United States.
There are 24,756 active loan analyst job openings in the US.
The average loan analyst salary is $37,857.
Are loan analyst jobs in demand?
Loan Analyst job and salary trends over time
Loan Analyst jobs over time
Loan Analyst job growth rate over time
Year  | # Of Jobs | % Of Population |
|---|---|---|
| 2021 | 50,608 | 0.02% |
| 2020 | 44,391 | 0.01% |
| 2019 | 45,058 | 0.01% |
| 2018 | 46,950 | 0.01% |
| 2017 | 47,738 | 0.01% |
Average loan analyst salary over time
Loan Analyst salary by year
| Year | Avg. Salary | Hourly Rate | % Change |
|---|---|---|---|
| 2025 | $37,857 | $18.20 | +1.1% |
| 2024 | $37,449 | $18.00 | +0.4% |
| 2023 | $37,313 | $17.94 | --2.5% |
| 2022 | $38,272 | $18.40 | +1.6% |
| 2021 | $37,674 | $18.11 | +0.3% |
Loan Analyst jobs by state
Most common states for loan analysts
| Rank | State | Population | # of Jobs | Employment/ 1000ppl |
|---|---|---|---|---|
| 1 | District of Columbia | 693,972 | 144 | 21% |
| 2 | Delaware | 961,939 | 113 | 12% |
| 3 | South Dakota | 869,666 | 103 | 12% |
| 4 | North Dakota | 755,393 | 93 | 12% |
| 5 | Arizona | 7,016,270 | 767 | 11% |
| 6 | Minnesota | 5,576,606 | 628 | 11% |
| 7 | Colorado | 5,607,154 | 590 | 11% |
| 8 | Wyoming | 579,315 | 61 | 11% |
| 9 | Utah | 3,101,833 | 297 | 10% |
| 10 | Rhode Island | 1,059,639 | 106 | 10% |
| 11 | Virginia | 8,470,020 | 736 | 9% |
| 12 | Maryland | 6,052,177 | 520 | 9% |
| 13 | Montana | 1,050,493 | 92 | 9% |
| 14 | Vermont | 623,657 | 56 | 9% |
| 15 | Illinois | 12,802,023 | 984 | 8% |
| 16 | Ohio | 11,658,609 | 882 | 8% |
| 17 | Missouri | 6,113,532 | 476 | 8% |
| 18 | Kansas | 2,913,123 | 237 | 8% |
| 19 | Maine | 1,335,907 | 108 | 8% |
| 20 | Alaska | 739,795 | 61 | 8% |
Most common cities for loan analysts
| Rank | City | # of Jobs | Employment/ 1000ppl | Avg. Salary |
|---|---|---|---|---|
| 1 | Annapolis | 1 | 3% | $48,642 |
| 2 | Burlingame | 1 | 3% | $45,231 |
| 3 | Jersey City | 4 | 2% | $49,134 |
| 4 | Brockton | 2 | 2% | $46,312 |
| 5 | Livonia | 2 | 2% | $42,787 |
| 6 | Overland Park | 2 | 1% | $41,528 |
| 7 | Cedar Rapids | 1 | 1% | $38,536 |
| 8 | Atlanta | 1 | 0% | $38,326 |
| 9 | Baltimore | 1 | 0% | $48,832 |
| 10 | Baton Rouge | 1 | 0% | $37,488 |
| 11 | Boston | 1 | 0% | $46,155 |
| 12 | Chicago | 1 | 0% | $40,792 |
| 13 | Des Moines | 1 | 0% | $38,418 |
Loan Analyst job outlook: Expert opinions
Our panel of loan analyst experts
UMass Lowell
University of Southern Maine
Western Kentucky University
University of Minnesota - Twin Cities
Drexel University
Wake Forest University
University of Georgia
Insurance Information Institute
Michael Ciuchta Ph.D.
Associate Professor, Program Coordinator, Masters of Science in EntrepreneurshipUMass Lowell
Department of Marketing, Entrepreneurship & Innovation
What Loan Analyst skills would you recommend for someone trying to advance their career?
Michael Ciuchta Ph.D.: Obviously we are seeing a tremendous increase in AI and other digital technologies. These will become a more crucial skill set for many careers going forward. But I wouldn't downplay the role of what are traditionally seen as soft skills like empathy, communications, and judgment. Not only can these distinguish you from robots but from your human competitors as well.
What will help Loan Analysts increase their earning potential?
Michael Ciuchta Ph.D.: If all you want is the highest potential starting salary, then you should aim for careers that offer them. But that is a shortsighted way to view things. For example, many careers that have tournament-like pay structures (think entertainment) often have very low starting salaries but the so-called winners enjoy outsized financial gains. If you are thinking about a more traditional career, I think it's important to make sure you are more valuable to your employer than they are to you. This means you have to market yourself, both to your current employer as well as to potential ones. Of course, this approach may not be for everyone and maximizing your salary potential is only one thing you should be considering when assessing job and career opportunities.
Tove Rasmussen
LecturerUniversity of Southern Maine
Specialized Sales, Merchandising And Marketing Operations
What general advice would you give to a Loan Analyst?
Tove Rasmussen: Tove Rasmussen advises graduates beginning their career in the field to...
What Loan Analyst skills would you recommend for someone trying to advance their career?
Timothy Rich PhD: Think about the types of jobs that interest you and the skills necessary for those jobs early. So many students start thinking about post-graduation life spring their senior year, when it should be an incremental process much earlier. Another pieces of advice would be to talk to faculty and alum about your interests, find internship or research opportunities when possible, and try to figure out early your strengths and weaknesses. It's easy for students, especially high performing ones, to not fully consider what their weaknesses are. I encourage students to jot down what they see as their skills too and to share them with others. It helps them to identify what's a common skill versus something that might make them stick out.
What general advice would you give to a Loan Analyst?
Dr. Paige Novak P.E. (Minnesota), BCEE: Ask questions, stay curious and open minded, take opportunities to learn and develop new skills.
What Loan Analyst skills would you recommend for someone trying to advance their career?
Mark Stehr PhD: At the start of your career, it's very important to land a role where you learn a lot and find good mentors. The additional skills will pay dividends as your career progresses.
What will help Loan Analysts increase their earning potential?
Mary Rodena-Krasan Ph.D.: A degree in German Studies is extraordinarily flexible, giving you a skill set that makes you suitable to a variety of fields. Be open to every opportunity and never underestimate the skill sets learning a new language has afforded you - cross-cultural competence, interlinguistic technological adeptness, problem solving, information analysis, and critical thinking. Employers want someone they don't have to hand-hold. Studying a foreign language requires a lot of self-initiative - apply that to every assignment at the job and don't be afraid to suggest approaches! Your ability to undertake something new and be successful has already been proven by your German studies degree!
What Loan Analyst skills would you recommend for someone trying to advance their career?
Dr. Mark Evans: Don't stop learning. Treat your first job like more graduate school. Learn everything you can.
Robert Hoyt, Ph.D.
Department Head and Dudley L. Moore Jr. Chair of InsuranceUniversity of Georgia
Risk Management and Insurance Program
Will there be an enduring impact of the coronavirus pandemic on Loan Analysts?
Robert Hoyt, Ph.D.: I think it is clear that the working environment and the necessary skills in insurance have been impacted by the pandemic in ways that will persistent. In some cases it has accelerated trends that were already underway (e.g., increased use of technology, expanded use of remote work, digital strategies). In other cases it has presented a business case for the importance of business resilience and the opportunities to interact with customers and business partners in new and efficient ways. The good news for our graduates is that opportunities in insurance will continue to grow in number and quality and emerging graduates who are digital natives will be perfectively positioned to help organizations embrace these new ways of doing business.
How do you envision technology impacting Loan Analysts in the next 5 years?
Janet Ruiz: Technology will continue to streamline and enhance the underwriting process. Underwriters need to understand digital tools, the use of artificial intelligence, working with technology to enhance work flow.