SOC 132072

Loan Officers

Evaluate, authorize, or recommend approval of commercial, real estate, or credit loans. Advise borrowers on financial status and payment methods. Includes mortgage loan officers and agents, collection analysts, loan servicing officers, loan underwriters, and payday loan officers.

National Median

$74,180

per year

National Salary Overview

Median Annual

$74,180

Entry Level (10th pct)

$38,490

Experienced (90th pct)

$145,780

Total Employed

290,530

Salary Distribution

Salary percentiles show the range from entry-level (10th) to top earners (90th)

Salary by Experience Level

Experience Level	Estimated Salary Range
Entry Level0-2 years experience	$38,490 - $50,460
Mid Career2-8 years experience	$50,460 - $101,920
Senior / Expert8+ years experience	$101,920 - $145,780

Highest Paying Locations for Loan Officers

Elmira, NY

$106,430

+43.5% vs national

New York-Newark-Jersey City, NY-NJ

$102,540

+38.2% vs national

District of Columbia

$102,200

+37.8% vs national

New York

$98,940

+33.4% vs national

Northern Vermont nonmetropolitan area

$97,410

+31.3% vs national

Loan Officers Salary by Location

Compare salaries across 50 metropolitan areas

Metropolitan Area	Median Salary	Employed
Elmira, NY	$106,430	40
New York-Newark-Jersey City, NY-NJ	$102,540	11,250
District of Columbia	$102,200	420
New York	$98,940	11,850
Northern Vermont nonmetropolitan area	$97,410	140
Des Moines-West Des Moines, IA	$97,000	1,050
Salinas, CA	$95,960	150
New Haven, CT	$95,910	270
Iowa City, IA	$95,180	130
New Jersey	$95,090	5,690
Boston-Cambridge-Newton, MA-NH	$94,850	3,320
Barnstable Town, MA	$94,850	90
Washington-Arlington-Alexandria, DC-VA-MD-WV	$94,840	5,260
San Francisco-Oakland-Fremont, CA	$94,110	3,090
Massachusetts	$93,430	4,310
Mankato, MN	$93,140	150
Lawrence, KS	$93,030	90
Southwest Iowa nonmetropolitan area	$92,560	200
Minneapolis-St. Paul-Bloomington, MN-WI	$91,900	4,360
Fargo, ND-MN	$89,860	380
Manhattan, KS	$88,400	180
Massachusetts nonmetropolitan area	$88,110	40
Wichita, KS	$86,940	600
Grand Forks, ND-MN	$86,510	100
Southern Vermont nonmetropolitan area	$86,490	110
Vermont	$86,490	440
St. Cloud, MN	$85,030	280
Amherst Town-Northampton, MA	$84,610	90
Minnesota	$84,480	6,950
Northeast Nebraska nonmetropolitan area	$84,440	380
Corvallis, OR	$84,030	80
Trenton-Princeton, NJ	$83,730	310
Enid, OK	$83,710	50
Pittsfield, MA	$83,390	90
State College, PA	$83,220	180
Mount Vernon-Anacortes, WA	$83,140	80
Springfield, MA	$83,030	150
West North Dakota nonmetropolitan area	$82,990	250
North Dakota	$82,990	1,370
Topeka, KS	$82,910	230
Kansas	$82,540	3,950
Vineland, NJ	$82,490	40
Worcester, MA	$82,210	320
Bismarck, ND	$82,070	220
San Jose-Sunnyvale-Santa Clara, CA	$81,990	1,480
Southeast Minnesota nonmetropolitan area	$81,840	310
Milwaukee-Waukesha, WI	$81,680	1,290
Madison, WI	$81,580	680
Wilmington, NC	$81,540	530
Rochester, MN	$81,280	200

Frequently Asked Questions

What is the average salary for a Loan Officers?

The national median annual salary for Loan Officers is $74,180, according to Bureau of Labor Statistics data. This means half of workers in this occupation earn more, and half earn less.

Where do Loan Officerss earn the most?

The highest-paying metro area for Loan Officerss is Elmira, NY, with a median salary of $106,430.

How much can an experienced Loan Officers make?

Top-earning Loan Officerss (90th percentile) make $145,780 or more annually. This typically reflects workers with significant experience, specialized skills, or positions in high-paying regions.