What are the downsides of being a loan officer?

Downsides include slow job growth, long hours, and income that swings with loan volume. The U.S. Bureau of Labor Statistics projects loan officer employment to grow only 1% from 2025 to 2035, slower than the average for all occupations. Fifty-one percent of loan officers report working more than 40 hours per week, according to O*NET OnLine survey data, and many are paid largely on commission, so pay falls when volume slows.

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