Commercial Loan Analyst: Job Description and Education Requirements

Sep 24, 2019

Learn about the education and preparation needed to become a commercial loan analyst. Get a quick view of the requirements as well as details about degree programs, job duties and salary expectations to find out if this is the career for you.

Commercial loan analysts analyze loans for banks and other financial institutions and may assist customers with the application process. These positions require a bachelor's degree in a related field. The job growth outlook for this position is about as fast as all jobs.

Essential Information

Working as a commercial loan analyst involves reviewing the financial documents of loan applicants and determining if applicants should receive loan. They may assist customers in applying for their loans. Commercial loan officers often meet their clients in the clients' offices. Many commercial loan analysts have bachelor's degrees and complete additional training in commercial lending. Some on-the-job training is usually required, too.

Required Education Bachelor's degree in business, finance or related field is preferred
Other Requirements Commercial lending training often recommended
Projected Job Growth (2018-2028) 8%*
Median Salary (2018) $63,040*

Source: *U.S. Bureau of Labor Statistics (BLS).

Job Description

Commercial loan analysts typically work as employees of financial institutions such as banks or credit unions. They spend their work hours analyzing the credit-worthiness of potential loan customers and determining if those customers are likely to repay their debt. They must also assist customers in applying for their loan and will ultimately determine if the applicant should receive the loan. In addition to having a solid education in finance, economics or business, a commercial loan analyst needs strong customer service, interpersonal and communication skills. Sales experience is also beneficial.

Education Requirements

A bachelor's degree is required to obtain a job as a commercial loan analyst. Students who major in finance, economics, business or a related field will be best suited for this field. While earning a degree in finance or economics, a few of the required courses may include accounting, business law, corporate and investment finance, calculus, statistics and contract law. Gaining an internship or work experience at a financial institution while still in school will prove beneficial during the search for a permanent position.

Many banks or financial institutions prefer to hire degreed commercial loan analysts who have completed lending-specific education courses. The Bank Administration Institute offers a Loan Review Certificate Program that educates the student in how to manage a wide range of commercial lending issues.

Salary Information

According to the U.S. Bureau of Labor Statistics (BLS), the loan officer occupation is expected to grow faster than average at 8% between 2018 and 2028 ( Salaries range from $31,870 to $132,080 annually for most loan officers, as of May 2018. The BLS also notes that while some loan analysts are paid an annual salary, many are paid based on commission, which is dependent on the amount of loans they approve.

Loan officers are required to have bachelor's degrees, and may also be required to have completed on-the-job training and educational courses that focus on lending. These positions offer a median salary of about $63,000 per year.

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