If you are reading this, there is a good possibility that you are already working in the mortgage industry. But, perhaps not. Maybe you’re deliberating, trying to decide whether the mortgage industry is for you, and you’re looking for information that could help you decide whether you should give it a shot. Or, maybe you’re already in the industry and you’re trying to convince someone else to enter the business. Regardless, the main question you want answered is the same main question you ask for almost anything: “what’s in it for me?” Why should you work in the mortgage industry?
Well, let’s go ahead and get the obvious out of the way. There a lot of job opportunities as a loan officer, as it’s a continually growing field. Also, the industry can be quite rewarding on the financial end of things. According to the Bureau of Labor Statistics, the median annual wage for a loan officer was $63,500 in 2015—nearly twice the amount of the average across all occupations. But, is there more to the industry than just finding a “good job?” Can it be rewarding in other ways?
In my mind, here are two of the biggest reasons for starting a career in the mortgage industry.
1. The mortgage industry offers the opportunity to impact a larger number of people—as it is typical to close on around 20 loans per month.
2. The mortgage industry offers a challenge, as the industry is more complex financially and legally than other sales-oriented professions.
Why should you start a career in the mortgage industry? Pick your reason. Whatever justification sounds best for you, I promise that it’s worth giving a shot…