Financial Manager
Median wage · national
$166,570
Range: $125K – $220K
Employed
842K
Openings/yr
75K
Typically: bachelor's degree
BUSINESS
Loan Interviewers and Clerks
Loan Interviewers and Clerks earn $50,020 nationally at the median. The middle 50% of workers fall between $45,120 and $60,600. Where you land depends on specialization, employer, and experience.
About Loan Interviewers and Clerks
Interview loan applicants to elicit information; investigate applicants' backgrounds and verify references; prepare loan request papers; and forward findings, reports, and documents to appraisal department. Review loan papers to ensure completeness, and complete transactions between loan establishment, borrowers, and sellers upon approval of loan.
- Median Wage
- $50,020
- Employed Nationally
- 165K
- Openings / Year
- 13,300
- Entry Education
- High school diploma or equivalent
- Job Zone
- Zone 3: Medium Preparation
Also known as:
Closer
Closing Agent
Closing Coordinator
Commercial Loan Processor
Consumer Loan Processor
How Much Do Loan Interviewers and Clerks Make?
Loan Interviewers and Clerks earn $50,020 nationally, below average for bachelor's degree holders. The middle 50% of earners fall between $45,120 and $60,600. Actual pay varies by employer, specialization, and location.
$50,020
National Median (Annual)
Below average for bachelor's degree holders.
$45K–$61K
Middle 50% Range
25th to 75th percentile. Most workers earn within this band.
Earnings Range
$45,120
Entry-level
$50,020
Median
$60,600
Experienced
What Do Loan Interviewers and Clerks Do?
O*NET data identifies 5 core activities and 5 measurable skills for Loan Interviewers and Clerks roles. Use this section to judge whether the day-to-day reality aligns with what you actually want to spend time doing.
What You'll Do
- Verify and examine information and accuracy of loan application and closing documents.
- Assemble and compile documents for loan closings, such as title abstracts, insurance forms, loan forms, and tax receipts.
- Record applications for loan and credit, loan information, and disbursements of funds, using computers.
- Submit loan applications with recommendation for underwriting approval.
- Contact customers by mail, telephone, or in person concerning acceptance or rejection of applications.
Core Skills Employers Look For
Active Listening
Speaking
Reading Comprehension
Critical Thinking
Writing
Who Thrives Here
C
Conventional
Success depends on precision and structured processes, where detail-oriented people who work consistently within established systems perform best.
E
Enterprising
Leadership, influence, and business acumen are rewarded here, where managing teams, driving decisions, or persuading others shapes career outcomes.
S
Social
Working closely with people, teaching, advising, or helping others navigate challenges is a defining feature of this career's daily work.
Where Do Loan Interviewers and Clerks Work?
What the physical and mental conditions of this job actually look like day to day, based on O*NET Work Context data collected from people working in this occupation.
Work Setting
Mixed
Split between indoor and outdoor or field settings.
Physical Demands
Light
Mix of sitting and movement throughout the day.
Stress Level
Moderate
Moderate pressure. Regular deadlines exist but are generally manageable with experience.
What Is the Job Outlook for Loan Interviewers and Clerks?
The BLS projects -2.3% employment change for Loan Interviewers and Clerks through 2034, a declining trend, below the national average of +5%. About 13,300 openings per year keep the field accessible to new entrants.
↘ -2.3%
10-Year Growth (2024–2034)
Declining employment projected.
13,300
Annual Openings
New positions plus replacements for retirees and career-changers.
165K
Currently Employed
Total US employment as of BLS May 2024.
Source: BLS Employment Projections 2024–2034 and Occupational Employment and Wage Statistics May 2024.
Where the Jobs Are
The five states below employ the most Loan Interviewers and Clerks professionals nationwide. State-level wages can differ significantly from the $50,020 national median. Research your specific market before committing to a program.
| # | State | Jobs | Median Wage | vs. National |
|---|---|---|---|---|
| 1 | Texas | 20,940 | $49,180 | -1.7% |
| 2 | California | 14,060 | $57,790 | +15.5% |
| 3 | Florida | 11,380 | $50,920 | +1.8% |
| 4 | Michigan | 8,160 | $48,380 | -3.3% |
| 5 | Ohio | 6,480 | $49,370 | -1.3% |
Source: BLS Occupational Employment and Wage Statistics, May 2024. Employment figures rounded. Read our methodology →
How to Get Here
Most Loan Interviewers and Clerks positions require a high school diploma or equivalent to qualify. The program below is the most common academic pathways into this field, ranked by how many graduates they produce each year.
Typical Entry Education
High school diploma or equivalent
Job Zone
Zone 3: Medium Preparation
A medium amount of preparation is required, often an associate degree, certificate program, or apprenticeship, plus some related experience.
Degree Programs That Lead Here
| # | Program | Graduates/yr | 4yr Median | Colleges |
|---|---|---|---|---|
| 1 | Finance | 58,013 | $83,343 | 949 |
Top Colleges for Aspiring Loan Interviewers and Clerks
Colleges offering the degree programs that lead to this career, ranked by UCD Score. A strong program plus solid outcomes is a good place to begin your search.
| # | College | UCD Score | Net Price | Salary 10yr |
|---|---|---|---|---|
| 1 | CUNY Bernard M Baruch College New York, NY | 93 | $3,033 | $75,971 |
| 2 | University of Florida Gainesville, FL | 93 | $6,541 | $71,588 |
| 3 | University of Chicago Chicago, IL | 91 | $14,860 | $91,885 |
| 4 | Vanderbilt University Nashville, TN | 90 | $15,846 | $91,565 |
| 5 | University of Central Florida Orlando, FL | 90 | $10,411 | $58,308 |
| 6 | Florida State University Tallahassee, FL | 90 | $11,297 | $61,675 |
Plan Your Path
Once you've sized up Loan Interviewers and Clerks, these tools turn the numbers into a plan. Estimate the real cost of a degree that leads here, weigh the long-term payoff, compare specific colleges side-by-side, and find programs that match your profile.
College ROI Calculator
See if the degree that leads to Loan Interviewers and Clerks pays off. Weighs each college's cost against the earnings graduates see.
College Cost Calculator
Enter a budget and see the colleges whose net price fits, with the out-of-pocket cost and likely loan load for each.
Compare Colleges
Put any 2–4 colleges side-by-side. Admissions, cost, outcomes, and earnings, all on one screen, no tab-hopping.
College Match Quiz
Answer six quick questions and see your best-fit colleges ranked by budget, field of study, and what matters most to you.
Loan Interviewers and Clerks Pros & Cons
Loan Interviewers and Clerks has real financial strengths, but declining employment projections deserve careful consideration. The 1 upsides and 2 concerns below are all data-sourced.
PROS
- Accessible entry path The typical entry requirement is a high school diploma or equivalent, lower than many comparable-paying careers. This creates a shorter path from training to first paycheck.
CONS
- Modest median salary At $50,020 median, this career lags STEM and business fields. High-cost degree programs may be difficult to justify on salary alone.
- Declining employment The BLS projects -2.3% employment change through 2034. This field is expected to shrink. Automation, offshoring, or structural industry change are likely factors.
Loan Interviewers and Clerks Frequently Asked Questions
How much do Loan Interviewers and Clerks professionals earn?
The national median annual wage for Loan Interviewers and Clerks is $50,020, below the national median, program ROI depends heavily on keeping tuition costs low. The middle 50% of earners fall between $45,120 and $60,600. Pay varies by employer size, industry sector, specialization, and geography. National figures are a starting point, not a guarantee.
Is Loan Interviewers and Clerks a good career?
With realistic expectations. The BLS projects -2.3% employment change through 2034. This field is shrinking, not expanding. The $50,020 median wage is competitive, but most openings come from retirements and exits rather than new positions. If you're drawn to this work, differentiate through a specialized niche or adjacent certification that keeps you relevant as the broader field contracts.
How do I become a Loan Interviewers and Clerks?
Most Loan Interviewers and Clerks positions require a high school diploma or equivalent as the minimum credential. a medium amount of preparation is required, often an associate degree, certificate program, or apprenticeship, plus some related experience. Programs like Finance are common starting points.
Why are Loan Interviewers and Clerks jobs declining?
The BLS projects -2.3% employment change for Loan Interviewers and Clerks through 2034. Declining occupations typically face some combination of automation, industry consolidation, offshoring, or reduced consumer demand, rarely a single cause. Despite the overall decline, about 13,300 openings per year are still projected, mostly replacements for workers who retire or leave, not new positions. 165K people currently work in this field, so while it's contracting, active hiring still occurs. Specialization in high-value segments of the role gives the strongest protection.
What skills do Loan Interviewers and Clerks professionals need?
O*NET data identifies the core skills employers consistently prioritize for Loan Interviewers and Clerks roles: Active Listening, Speaking, Reading Comprehension, Critical Thinking, and Writing. These develop through formal education and hands-on work. Programs with internship or co-op requirements give you a meaningful head start on the ones that take time to build.
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- Master's degree
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- Median wage
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- Career outcomes
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Only 95 of 385 federal careers both pay a median above $80,000 and grow faster than the typical job. Here is the rare set that clears both bars.
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- High-paying careers
- Job outlook
- Career change
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