Loan officers play a crucial role in evaluating loan applications, determining creditworthiness, and helping individuals and businesses secure financing.
This article will explore the best states for loan officers, based on the average annual salary for the occupation.
- 1. District of Columbia ($141,180)
- 2. Georgia ($117,460)
- 3. Michigan ($111,070)
- 4. New York ($104,850)
- 5. Nevada ($101,470)
- 6. Virginia ($94,680)
- 7. Oregon ($94,510)
- 8. New Hampshire ($94,330)
- 9. Massachusetts ($93,570)
- 10. Maine ($93,460)
- Conclusion
Key Takeaways
- The highest-paid loan officers are in District of Columbia, where they earn an average of $141,180 per year.
- The lowest-paid loan officers are in Rhode Island, where they earn an average of $-1 per year.
- The U.S. average salary for loan officers is $80,626 per year.
1. District of Columbia ($141,180)
Loan Officers in District of Columbia earn the highest average salary in the U.S. The median annual salary for
loan officers in District of Columbia is
$141,180, which is +75% from the national average.
| Type | Annual Salary |
|---|
| Median Wage | $141,180 |
| 10th Percentile | $35,730 |
| 25th Percentile | $59,630 |
| 75th Percentile | $123,720 |
| 90th Percentile | $-3 |
2. Georgia ($117,460)
Loan Officers in Georgia earn the 2nd highest average salary in the U.S. The median annual salary for
loan officers in Georgia is
$117,460, which is +46% from the national average.
| Type | Annual Salary |
|---|
| Median Wage | $117,460 |
| 10th Percentile | $38,200 |
| 25th Percentile | $49,160 |
| 75th Percentile | $102,580 |
| 90th Percentile | $158,520 |
3. Michigan ($111,070)
Loan Officers in Michigan earn the 3rd highest average salary in the U.S. The median annual salary for
loan officers in Michigan is
$111,070, which is +38% from the national average.
| Type | Annual Salary |
|---|
| Median Wage | $111,070 |
| 10th Percentile | $24,940 |
| 25th Percentile | $48,840 |
| 75th Percentile | $135,150 |
| 90th Percentile | $-3 |
4. New York ($104,850)
Loan Officers in New York earn the 4th highest average salary in the U.S. The median annual salary for
loan officers in New York is
$104,850, which is +30% from the national average.
| Type | Annual Salary |
|---|
| Median Wage | $104,850 |
| 10th Percentile | $46,180 |
| 25th Percentile | $58,550 |
| 75th Percentile | $129,770 |
| 90th Percentile | $207,070 |
5. Nevada ($101,470)
Loan Officers in Nevada earn the 5th highest average salary in the U.S. The median annual salary for
loan officers in Nevada is
$101,470, which is +26% from the national average.
| Type | Annual Salary |
|---|
| Median Wage | $101,470 |
| 10th Percentile | $30,410 |
| 25th Percentile | $39,310 |
| 75th Percentile | $133,110 |
| 90th Percentile | $212,470 |
6. Virginia ($94,680)
Loan Officers in Virginia earn the 6th highest average salary in the U.S. The median annual salary for
loan officers in Virginia is
$94,680, which is +17% from the national average.
| Type | Annual Salary |
|---|
| Median Wage | $94,680 |
| 10th Percentile | $39,760 |
| 25th Percentile | $54,720 |
| 75th Percentile | $102,200 |
| 90th Percentile | $168,280 |
7. Oregon ($94,510)
Loan Officers in Oregon earn the 7th highest average salary in the U.S. The median annual salary for
loan officers in Oregon is
$94,510, which is +17% from the national average.
| Type | Annual Salary |
|---|
| Median Wage | $94,510 |
| 10th Percentile | $35,420 |
| 25th Percentile | $50,920 |
| 75th Percentile | $108,040 |
| 90th Percentile | $162,410 |
8. New Hampshire ($94,330)
Loan Officers in New Hampshire earn the 8th highest average salary in the U.S. The median annual salary for
loan officers in New Hampshire is
$94,330, which is +17% from the national average.
| Type | Annual Salary |
|---|
| Median Wage | $94,330 |
| 10th Percentile | $37,740 |
| 25th Percentile | $54,510 |
| 75th Percentile | $105,640 |
| 90th Percentile | $198,030 |
9. Massachusetts ($93,570)
Loan Officers in Massachusetts earn the 9th highest average salary in the U.S. The median annual salary for
loan officers in Massachusetts is
$93,570, which is +16% from the national average.
| Type | Annual Salary |
|---|
| Median Wage | $93,570 |
| 10th Percentile | $45,420 |
| 25th Percentile | $58,760 |
| 75th Percentile | $107,690 |
| 90th Percentile | $167,320 |
10. Maine ($93,460)
Loan Officers in Maine earn the 10th highest average salary in the U.S. The median annual salary for
loan officers in Maine is
$93,460, which is +16% from the national average.
| Type | Annual Salary |
|---|
| Median Wage | $93,460 |
| 10th Percentile | $47,040 |
| 25th Percentile | $56,910 |
| 75th Percentile | $99,240 |
| 90th Percentile | $138,380 |
Conclusion
The highest-paid loan officers are in District of Columbia, where they earn an average of $141,180 per year. The lowest-paid loan officers are in Rhode Island, where they earn an average of $-1 per year. The U.S. average salary for loan officers is $80,626 per year and there are 347,690 jobs in the field.
