Loan Officer Salary

Average Yearly Salary
$42,000
$26,000
Min 10%
$42,000
Median 50%
$69,000
Max 90%
Best Paying Company
Royal Bank of Canada
Highest Paying City
New York, NY
Highest Paying State
New York
Average Experience Level
3.1 years
How much does a loan officer make?
Loan Officers in the US make on average $42,678 annually or $20.52 hourly. There is a huge gap between the top 10 percent earners and the bottom 10 percent earners -- about 43,000. The top 10 percent earn over $69,000, while the bottom 10 percent make less than $26,000 annually. Finance companies and Construction companies tend to have the highest concentration of employment in this field. The top 5 states when it comes to Loan Officer salaries are New York, New Jersey, Pennsylvania, Oregon, and Delaware. The typical tenure for a Loan Officer is 3.1 years.
Annual Salaries For Related Jobs

Average Loan Officer Salary By Location

Across America, Loan Officers make on average $42,678 annually or $20.52 hourly. The city with the highest Loan Officer salary is New York, NY at $55,758 per year. Not only that, New York, NY also has an average entry-level salary of $28,000. Some of the states with the best Loan Officer salaries are New York, New Jersey, Pennsylvania, Oregon, Delaware, Maryland, and Nevada. On the other hand, Oklahoma, Colorado, Georgia, Nebraska, and Missouri report the lowest wages for Loan Officers.

Map of Loan Officer Salaries

The darker areas on the map show where Loan Officers earn the highest salaries across all 50 states.

Average Salary:

Average Loan Officer Salary By Company

There is good job security in Loan Officer positions. Some industries offer better pay and benefit packages than others. Employers that have the highest concentration of job opportunities for Loan Officers are Finance companies and Construction companies. Loan Officers at Royal Bank of Canada and Associated Banc report the highest salaries. If you can find a job at a company like BBVA Compass or Comerica, they also offer very competitive salaries to their Loan Officers.

Loan Officer Salary History

Compare salaries for individual cities or states with the national average.

National Average
Ashburn, VA

Loan Officer Salary By Experience Level

The salary for a Loan Officer can range from $28,556 to $80,970 depending on the amount of work experience that the person has. Data on how experience level affects salary is provided by the Bureau of Labor Statistics (BLS) as part of their National Compensation Survey, which is based on factors such as knowledge, complexity, contacts, and environment.

Recently Added Loan Officer Salaries

Company
Job
Location
Date Added
Salary
Salal Credit Union
Mortgage Loan Officer
04/25/2020
$40,000
Management Recruiters of Wausau
Mortgage Loan Officers
04/21/2020
$75,000
Management Recruiters of Wausau
Banking Loan Officer
04/16/2020
$75,000
Loan Officer
04/14/2020
$41,740
Underwriter and Loan Officer
04/14/2020
$60,000
Management Recruiters of Wausau
Branch President/Loan Officer
04/13/2020
$90,000
1St. Mortgage Inside Loan Officer
04/09/2020
$37,500
Mortgage Loan Officer
04/08/2020
$100,000
Loan Officer-Leads Provided
04/04/2020
$150,000
Loan Officer
03/26/2020
$50,000
Show More