Tellers to Loan Officers

7 of the 12 skills that matter most for loan officers are already at or near the typical level of tellers; 5 need work, led by speaking and judgment and decision making. The most common education reported in Loan Officers (Bachelor's Degree, 68.7% of respondents) is higher than in Tellers (High School Diploma or the equivalent (such as a GED)). Whether it is realistic for you depends on your own experience, credentials and budget.

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What tellers do

Balance currency, coin, and checks in cash drawers at ends of shifts and calculate daily transactions, using computers, calculators, or adding machines.
Cash checks and pay out money after verifying that signatures are correct, that written and numerical amounts agree, and that accounts have sufficient funds.
Receive checks and cash for deposit, verify amounts, and check accuracy of deposit slips.
Examine checks for endorsements and to verify other information, such as dates, bank names, identification of the persons receiving payments, and the legality of the documents.
Enter customers' transactions into computers to record transactions and issue computer-generated receipts.

More about Tellers

What loan officers do

Assist in selection of financial award candidates using electronic databases to certify loan eligibility.
Authorize or sign mail collection letters.
Calculate amount of debt and funds available to plan methods of payoff and to estimate time for debt liquidation.
Confer with underwriters to resolve mortgage application problems.
Contact applicants or creditors to resolve questions about applications or to assist with completion of paperwork.

More about Loan Officers

Transferable skills

7/12important skills of Loan Officers at or near your current occupation's typical level

5partial gaps

0larger gaps

85/100skill-level coverage index (not a probability)

Strengths you can carry over

Social Perceptiveness

Skills to build first

Speaking
Judgment and Decision Making
Writing
Reading Comprehension
Critical Thinking

Knowledge areas to learn

Economics and Accounting
Customer and Personal Service
Sales and Marketing
Law and Government
Administration and Management

All 12 important skills (target level vs. Tellers)

Loan Officers typical level Tellers typical level (0–7)

Active ListeningNear

SpeakingPartial gap

Reading ComprehensionPartial gap

Judgment and Decision MakingPartial gap

Critical ThinkingPartial gap

WritingPartial gap

MathematicsNear

Social PerceptivenessAt or above

Complex Problem SolvingNear

Active LearningNear

Time ManagementNear

Service OrientationNear

How this was calculated

A skill counts as important for Loan Officers when its O*NET importance is 3 or more (scale 1–5).
Levels are typical O*NET levels (0–7) for each occupation.
Within 0.5 level points counts as near; up to 1.5 as partial; more as a gap.

Limits

Compares occupations in general: it does not show that you personally have a skill.
Does not cover credentials, licensing or employer requirements (see qualifications).
The coverage index is a summary of typical levels, not a probability of being hired or of a successful switch.

Source: O*NET 31.0 Database (USDOL/ETA, CC BY 4.0) · dataset 2026.10.8 · method e1-skills-1.0.0

Qualifications and licensing

Most common education

Bachelor's Degree (68.7% of respondents)

Related experience

Over 4 years, up to and including 6 years (40.5%)

On-the-job training

Over 6 months, up to and including 1 year (32.4%)

Preparation level

O*NET job zone 4: Job Zone Four: Considerable Preparation Needed

Licensing

Depends on state or role (national summary): Mortgage loan officers must hold a Mortgage Loan Originator (MLO) license (prelicensing courses, national exam, background and credit checks, annual renewal); states may add requirements. source (checked 2026-10-25)

Compared with your current occupation

The most common education reported in Loan Officers (Bachelor's Degree, 68.7% of respondents) is higher than in Tellers (High School Diploma or the equivalent (such as a GED)).
Loan Officers is in O*NET job zone 4 (Job Zone Four: Considerable Preparation Needed); Tellers is in job zone 2: more preparation is typical.

Limits

Distributions show what current workers or occupational experts report, not legal minimums.
Requirements vary by employer and state; time to qualify is not estimated.

Source: O*NET 31.0 Database (USDOL/ETA, CC BY 4.0); BLS Employment Projections; State licensing authorities (curated, see evidence links) · dataset 2026.10.8 · method e3-qualification-1.0.0

Pay comparison

Annual wages, U.S., May 2025
Occupation	10th	25th	Median	75th	90th
Tellers	$34,360	$37,040	$43,030	$46,580	$49,680
Loan Officers	$39,430	$52,730	$76,690	$104,080	$153,180

Median difference: +$33,660 a year.

Limits

Wages are what current workers earn across all experience levels, not an offer for a career changer.
Entry pay after a switch is often nearer the lower percentiles.
Benefits, taxes and local costs are not included.

Source: BLS Occupational Employment and Wage Statistics · dataset 2026.10.8 · method e4-salary-1.0.0

Paths to consider

Partial move: roles between the two, found with the alternatives finder.
Full switch: close the priority gaps above, check credentials in your state and test the cost with the cost calculator.
No change yet: if the issue is your workplace rather than the work, the stay or switch check helps separate the two.

Tellers already work with customers, accounts and bank procedures every day, which makes loan officer a natural step up inside the same employer. Loan officers evaluate and recommend approval of loans for people and businesses. The data show a solid skills base and a clear step in knowledge and qualifications.

Skills: halfway there

O*NET rates 12 skills as important for loan officers. Seven are at or near the typical level of tellers, and none is a large gap. Social perceptiveness is a strength. The skills to grow are speaking, judgment and decision making, writing, reading comprehension and critical thinking: reviewing applications, judging risk and explaining decisions to customers.

The knowledge gap is larger. Loan officers use more economics and accounting, law and government (lending rules), sales and marketing, customer service and administration and management.

Education and licensing

Loan officers are in O*NET Job Zone 4, two levels above tellers. About 69% report a bachelor's degree, and the most common related experience is four to six years (41%). Ask how your employer fills these roles: internal moves are worth checking first.

For mortgages there is a license. According to the BLS, mortgage loan officers must hold a Mortgage Loan Originator (MLO) license: prelicensing courses, a national exam, background and credit checks and annual renewal, and states may add requirements.

Pay

In May 2025 the national median wage was $76,690 for loan officers and $43,030 for tellers, about $33,660 more a year. The range for loan officers is wide, about $52,730 to $104,080 for the middle half.

First steps

Ask about loan assistant, loan processor or personal banker roles, which are common bridges.
Check whether your bank pays for MLO prelicensing courses.
Use the cost calculator if you plan to finish a degree while working.

Tellers to Loan Officers

Try it with your own details

What tellers do

What loan officers do

Transferable skills

Strengths you can carry over

Skills to build first

Knowledge areas to learn

Qualifications and licensing

Pay comparison

Paths to consider

Skills: halfway there

Education and licensing

Pay

First steps

Sources