Explore jobs
Find specific jobs
Explore careers
Explore professions
Best companies
Explore companies
Loan manager salary
Average loan manager salary
$39,623
Understanding Loan Manager Salaries
The average salary for a Loan Manager stands at approximately $39,623 annually. This figure can vary based on factors such as geographic location, years of experience, and the specific financial institution. For instance, Loan Managers in states like California and New York tend to earn more, reflecting the cost of living and demand for skilled professionals in these areas.
Salary by Experience Level
Entry-level positions may start around $30,000, while seasoned Loan Managers with several years of experience can earn upwards of $50,000 annually. As professionals advance, they often take on additional responsibilities, directly impacting their earning potential.
Job Opportunities
Loan Managers are found in various sectors, including banks, credit unions, and mortgage companies. Understanding the salary landscape helps prospective employees gauge potential earnings and select roles that align with their career goals. Explore job openings in your area to find opportunities that match your qualifications.
Let Zippia find your next loan manager job
Let Zippia find your next loan manager job
Where can a Loan Manager earn more?
Loan manager salaries by experience level
| Experience level | Avg. salary | Hourly rate |
|---|---|---|
| Entry-level loan manager | $25,800 | $12.39 |
| Mid-level loan manager | $42,400 | $20.39 |
| Senior-level loan manager | $75,700 | $36.39 |
Loan manager salary estimates from across the web
Average loan manager salary by state
The highest-paying states for loan managers are New Jersey, Rhode Island, and Massachusetts. The lowest average loan manager salary states are Utah, Tennessee, and Alabama.
- State view
- County view
Highest paying states for loan managers
| Rank | State | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | New Jersey | $76,530 | $36.79 |
| 2 | Rhode Island | $75,510 | $36.30 |
| 3 | Delaware | $70,810 | $34.04 |
| 4 | New York | $71,834 | $34.54 |
| 5 | Florida | $60,074 | $28.88 |
| 6 | Maryland | $69,627 | $33.47 |
| 7 | Maine | $69,126 | $33.23 |
| 8 | Connecticut | $69,206 | $33.27 |
| 9 | Massachusetts | $74,830 | $35.98 |
| 10 | North Carolina | $58,327 | $28.04 |
| 11 | Pennsylvania | $56,227 | $27.03 |
| 12 | Minnesota | $49,475 | $23.79 |
| 13 | Hawaii | $56,629 | $27.23 |
| 14 | District of Columbia | $63,071 | $30.32 |
| 15 | New Hampshire | $64,697 | $31.10 |
| 16 | Wyoming | $48,154 | $23.15 |
| 17 | Texas | $49,188 | $23.65 |
| 18 | Vermont | $62,036 | $29.82 |
| 19 | Washington | $55,209 | $26.54 |
| 20 | Arkansas | $53,083 | $25.52 |
| 21 | Ohio | $45,624 | $21.93 |
| 22 | Colorado | $50,109 | $24.09 |
| 23 | New Mexico | $57,877 | $27.83 |
| 24 | Michigan | $46,499 | $22.36 |
| 25 | South Dakota | $46,769 | $22.49 |
| 26 | Iowa | $47,576 | $22.87 |
| 27 | South Carolina | $49,556 | $23.82 |
| 28 | Oregon | $50,099 | $24.09 |
| 29 | West Virginia | $48,001 | $23.08 |
| 30 | Virginia | $51,262 | $24.65 |
| 31 | Arizona | $42,191 | $20.28 |
| 32 | Montana | $47,031 | $22.61 |
| 33 | Nevada | $43,037 | $20.69 |
| 34 | North Dakota | $43,629 | $20.98 |
| 35 | Missouri | $40,596 | $19.52 |
| 36 | California | $42,329 | $20.35 |
| 37 | Kentucky | $42,655 | $20.51 |
| 38 | Georgia | $42,114 | $20.25 |
| 39 | Louisiana | $45,114 | $21.69 |
| 40 | Alaska | $39,887 | $19.18 |
| 41 | Wisconsin | $42,764 | $20.56 |
| 42 | Utah | $38,982 | $18.74 |
| 43 | Kansas | $41,189 | $19.80 |
| 44 | Nebraska | $42,404 | $20.39 |
| 45 | Oklahoma | $43,005 | $20.68 |
| 46 | Illinois | $33,772 | $16.24 |
| 47 | Idaho | $41,361 | $19.89 |
| 48 | Tennessee | $38,434 | $18.48 |
| 49 | Indiana | $35,974 | $17.30 |
| 50 | Alabama | $37,118 | $17.85 |
| 51 | Mississippi | $36,407 | $17.50 |
Highest paying cities for loan managers
The highest-paying cities for loan managers are Jersey City, NJ, Boston, MA, and New York, NY.
| Rank | City | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | Jersey City, NJ | $77,052 | $37.04 |
| 2 | Boston, MA | $74,902 | $36.01 |
| 3 | New York, NY | $72,589 | $34.90 |
| 4 | Columbia, MD | $69,632 | $33.48 |
| 5 | Southington, CT | $69,285 | $33.31 |
| 6 | Washington, DC | $63,062 | $30.32 |
| 7 | Urban Honolulu, HI | $56,606 | $27.21 |
| 8 | Lancaster, PA | $56,168 | $27.00 |
| 9 | Charlotte, NC | $55,711 | $26.78 |
| 10 | McLean, VA | $54,031 | $25.98 |
| 11 | San Antonio, TX | $51,584 | $24.80 |
| 12 | Denver, CO | $50,033 | $24.05 |
| 13 | Minneapolis, MN | $49,485 | $23.79 |
| 14 | San Francisco, CA | $48,720 | $23.42 |
| 15 | Greenville, SC | $47,663 | $22.91 |
| 16 | New Orleans, LA | $46,291 | $22.26 |
| 17 | Tucson, AZ | $42,088 | $20.23 |
| 18 | Atlanta, GA | $41,474 | $19.94 |
| 19 | Jefferson City, MO | $40,557 | $19.50 |
| 20 | Gulfport, MS | $39,668 | $19.07 |
Loan manager salary details
A loan manager's salary ranges from $27,000 a year at the 10th percentile to $58,000 at the 90th percentile.
What is a loan manager's salary?
| Percentile | Annual salary | Monthly salary | Hourly rate |
|---|---|---|---|
| 90th Percentile | $58,000 | $4,833 | $28 |
| 75th Percentile | $48,000 | $4,000 | $23 |
| Average | $39,623 | $3,302 | $19 |
| 25th Percentile | $32,000 | $2,667 | $15 |
| 10th Percentile | $27,000 | $2,250 | $13 |
Highest paying loan manager jobs
The highest paying types of loan managers are mortgage broker, commercial loan officer, and senior underwriter.
| Job title | Annual salary | Monthly salary | Hourly rate | Job openings |
|---|---|---|---|---|
| Mortgage Consultant | $38,934 | $3,245 | $18.72 | 24,057 |
| Escrow Officer | $50,270 | $4,189 | $24.17 | 62,077 |
| Mortgage Underwriter | $55,721 | $4,643 | $26.79 | 9,260 |
| Closer | $29,291 | $2,441 | $14.08 | 7,560 |
| Mortgage Banker | $27,331 | $2,278 | $13.14 | 24,297 |
| Commercial Loan Officer | $70,876 | $5,906 | $34.07 | 91,582 |
Top companies hiring loan managers now:
Which companies pay loan managers the most?
Loan manager salaries at Pacific Investment Management Company LLC and FNB are the highest-paying according to our most recent salary estimates. In addition, the average loan manager salary at companies like BNY Mellon and Invesco are highly competitive.
| Rank | Company | Average salary | Hourly rate |
|---|---|---|---|
| 1 | Pacific Investment Management Company LLC | $128,946 | $61.99 |
| 2 | FNB | $98,005 | $47.12 |
| 3 | BNY Mellon | $81,359 | $39.11 |
| 4 | Invesco | $79,810 | $38.37 |
| 5 | First Republic Bank | $75,382 | $36.24 |
| 6 | JPMorgan Chase & Co. | $72,054 | $34.64 |
| 7 | Northern Trust | $68,549 | $32.96 |
| 8 | University of Hawaii Foundation | $66,961 | $32.19 |
| 9 | Wells Fargo | $61,870 | $29.75 |
| 10 | Zions Ban | $60,693 | $29.18 |
| 11 | Fulton Bank | $60,155 | $28.92 |
| 12 | KPMG LLP | $57,049 | $27.43 |
| 13 | City National Bank | $55,826 | $26.84 |
| 14 | Summit Funding | $54,476 | $26.19 |
| 15 | Associated Bank | $53,856 | $25.89 |
| 16 | Valley National Bank | $53,721 | $25.83 |
| 17 | USAA | $50,723 | $24.39 |
| 18 | Fulton Savings Bank | $49,343 | $23.72 |
| 19 | Hudson Valley Credit Union | $49,190 | $23.65 |
| 20 | Atlantic Capital Bank | $48,110 | $23.13 |
Wage gap by gender, race and education
Loan manager salary trends
The average loan manager salary has risen by $3,674 over the last ten years. In 2014, the average loan manager earned $35,949 annually, but today, they earn $39,623 a year. That works out to a 0% change in pay for loan managers over the last decade.
Compare loan manager salaries for cities or states with the national average over time.
Average loan manager salary over time
Compare loan manager salaries for individual cities or states with the national average.
Loan manager salary by year
| Year | Avg. salary | Hourly rate | % Change |
|---|---|---|---|
| 2026 | $39,600 | $19.05 | +1.1% |
| 2025 | $39,200 | $18.84 | +0.4% |
| 2024 | $39,100 | $18.78 | -2.6% |
| 2023 | $40,100 | $19.26 | +1.6% |
| 2022 | $39,400 | $18.96 | +0.3% |
Recently added loan manager salaries
| Company | Job | Location | Date added | Salary |
|---|---|---|---|---|
| First Busey Corporation | Commercial Loan Transaction Manager | Creve Coeur, MO | 06/25/2025 | $68,000 |
| Trustco Bank | Commercial Loans Manager | Albany, NY | 06/23/2025 | $58,500 |
| INB National Association | Consumer Loan Manager | Springfield, IL | 06/22/2025 | $65,000 |
| The Citco Group Limited | Manager, Loan Operations | Malvern, PA | 06/10/2025 | $76,000 |
| Insight Global | Loan Manager | Moorpark, CA | 05/30/2025 | $66,784 |
| Forbes Todd Group | Cashier/Loan Car Manager-Goodson Acura | Dallas, TX | 05/29/2025 | $31,305 |
| The Citco Group Limited | Manager, Loan Operations | Malvern, PA | 05/28/2025 | $76,000 |
| Rallye Motor Company | Loaner Vehicle Manager | Westbury, NY | 05/18/2025 | $65,000 |
| Citco | Manager, Loan Operations | Malvern, PA | 05/14/2025 | $76,000 |
| National Mortgage Staffing | Hybrid Loan Manager | Indianapolis, IN | 05/14/2025 | $75,000 |
Loan manager salary FAQs
Search for loan manager jobs