Career comparison
Loan Officer vs. Tax Preparer
Side-by-side pay, training, growth and day-to-day duties to help you choose between two related careers.
Loan officers earn more at the median ($76,690 vs. $54,920), while tax preparers usually get to work faster (1–3 months of tax training of training). Loan officers help people and businesses get mortgages and loans, from application to closing. Tax preparers prepare income tax returns and help clients understand what they owe or get back.
Pay data: BLS OEWS, May 2025 · Outlook: BLS 2025–35 · Checked October 15, 2026
| Loan Officer | Tax Preparer | |
|---|---|---|
| Median pay | $76,690 ($36.87/hr) | $54,920 ($26.40/hr) |
| Pay range (10th–90th) | $39,430 – $153,180 | $33,760 – $99,270 |
| Job growth, 2025–35 | +1.1% (slower than average) | +4.7% (about as fast as average) |
| Openings per year | 17,100 | 9,400 |
| Typical entry education | Bachelor's degree | High school diploma or equivalent |
| Training time | 3–6 months for mortgage licensing | 1–3 months of tax training |
| Key credential | NMLS Mortgage Loan Originator license | IRS PTIN |
| Work setting | Loan officers work in banks, credit unions, mortgage companies and from home, meeting clients in offices or virtually. | Tax preparers work in tax offices, accounting firms, retail kiosks and from home. |
What each job does
Loan Officer
- Meet with borrowers to understand their goals
- Review credit, income, assets and debts
- Explain loan options, rates and costs
- Take and submit loan applications
- Work with processors and underwriters
Tax Preparer
- Interview clients about income and life changes
- Gather and review tax documents
- Prepare returns in tax software
- Identify deductions and credits
- Check returns for accuracy
How they’re similar
Both careers involve working with people, desk work, working with information, and working independently. Both are part of the business & office field, so many skills transfer between them.
Which should you choose?
Choose loan officer if…
- I like helping people with big decisions
- I’m comfortable with numbers and credit
- I enjoy building relationships
Choose tax preparer if…
- I like working with numbers and rules
- I’m detail-oriented
- I enjoy helping people with money questions
Still torn? Take the Loan Officer fit quiz and the Tax Preparer fit quiz, or the full Career Match Quiz.
Quick comparisons
Which pays more, loan officer or tax preparer?
Loan Officers earn more at the median: $76,690 versus $54,920 for tax preparers, based on BLS May 2025 data.
Which takes less time to train for?
Tax Preparers typically train faster (1–3 months of tax training) than loan officers (3–6 months for mortgage licensing).
Which career has better job growth?
BLS projects tax preparers to grow +4.7% from 2025–35, compared with +1.1% for loan officers.