The salary of a loan officer is not a clean number. This might sounds daunting at first, but when you think about the six-figure salary potential, it hopefully drums up more excitement and potential than fear.
In a published post on LinkedIn, Laura Dantuma, market leader at Movement Mortgage, poised the question to loan officers, “Should you being making six figures?”
It might sound a little harsh, but she explains, “If you have to ask that question, then the answer is probably ‘no’. However, if you’re not asking that question, and instead are asking, ‘what can I do to be making 6 figures,’ then the answer is much more likely to be ‘yes’.”
What’s special about being a loan officer compared to other professions, Dantuma said, is that loan officer jobs pay for performance.
So let’s look at the facts Dantuma presents.
From the piece:
The 75th percentile for LOs made $90k in 2014. Do you remember high school or college? Do you remember what the 75th percentile is? It’s a C.
So, you have to ask yourself, are you a “C” performer? Or a B? Or an A?
If this all does sounds appealing, Dantuma suggests taking About.com’s loan officer career planning quiz.
As far as moving your salary from a C to a B or A, here is at least one list of ways to drum up business and beat the competition using technology.
