Salary Range & Percentiles
Pay distribution across experience levels
- 10th Percentile — Entry Level$39,430
- 25th Percentile — Junior$52,730
- 50th Percentile — Median$76,690
- 75th Percentile — Senior$104,080
- 90th Percentile — Top Earners$153,180
The top 10% of Loan Officers earn $153,180 or more per year. Entry-level professionals can expect to start around $39,430, with significant growth over the first 5 years.
Salary by State
Geographic salary comparison
| State | Avg Salary | vs National |
|---|---|---|
| Massachusetts | $118,390 | +34.9% |
| New York | $114,670 | +30.6% |
| Minnesota | $104,700 | +19.3% |
| New Jersey | $102,890 | +17.2% |
| Connecticut | $101,710 | +15.9% |
| Vermont | $101,600 | +15.7% |
| Oregon | $101,000 | +15.0% |
| District of Columbia | $100,150 | +14.1% |
| Kansas | $98,160 | +11.8% |
| Colorado | $97,840 | +11.4% |
| California | $97,120 | +10.6% |
| New Hampshire | $97,080 | +10.6% |
| Washington | $94,320 | +7.4% |
| Iowa | $93,090 | +6.0% |
| Delaware | $92,000 | +4.8% |
| North Dakota | $91,760 | +4.5% |
| Idaho | $90,160 | +2.7% |
| Virginia | $90,090 | +2.6% |
| Nebraska | $89,530 | +2.0% |
| Illinois | $89,350 | +1.8% |
| Wisconsin | $89,090 | +1.5% |
| Maine | $88,830 | +1.2% |
| Wyoming | $87,930 | +0.2% |
| Nevada | $87,850 | +0.1% |
| Oklahoma | $86,020 | -2.0% |
| South Dakota | $85,970 | -2.1% |
| Arkansas | $85,120 | -3.0% |
| Georgia | $84,980 | -3.2% |
| Maryland | $84,190 | -4.1% |
| North Carolina | $84,160 | -4.1% |
| Michigan | $83,990 | -4.3% |
| Ohio | $83,960 | -4.4% |
| Alabama | $83,410 | -5.0% |
| Rhode Island | $82,690 | -5.8% |
| Missouri | $82,180 | -6.4% |
| Hawaii | $81,330 | -7.4% |
| Florida | $81,320 | -7.4% |
| Pennsylvania | $80,450 | -8.4% |
| Texas | $79,410 | -9.5% |
| Indiana | $78,980 | -10.0% |
| South Carolina | $77,890 | -11.3% |
| Montana | $77,390 | -11.8% |
| Arizona | $77,060 | -12.2% |
| New Mexico | $75,410 | -14.1% |
| Kentucky | $74,870 | -14.7% |
| Mississippi | $73,480 | -16.3% |
| Utah | $73,370 | -16.4% |
| Alaska | $73,300 | -16.5% |
| Louisiana | $73,240 | -16.6% |
| Tennessee | $71,590 | -18.5% |
| West Virginia | $66,780 | -23.9% |
What Factors Affect Loan Officers Salary?
Key factors affecting compensation
Pay for Loan Officers is influenced by geographic location, years of experience, employer type, and educational background. Location alone is a large factor: Massachusetts pays an average of $118,390, while West Virginia pays $66,780 — a gap of $51,610 per year.
The middle half of Loan Officers earn between $52,730 and $104,080 per year. The lowest-paid 10% earn under $39,430, while the top 10% earn more than $153,180.
These figures are the wages employers report to BLS: base pay plus commissions, production bonuses and tips. They exclude overtime pay, shift differentials, year-end bonuses, benefits and self-employed workers, so total compensation can be higher than the numbers shown.
U.S. Bureau of Labor Statistics · Occupational Employment and Wage Statistics (OES) · May 2025
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Frequently Asked Questions
Common questions about this salary
What is the average salary for Loan Officers?
The average salary for Loan Officers in the United States is $87,790 per year, with a median of $76,690.
What is the starting salary for Loan Officers?
Entry-level Loan Officers typically earn between $39,430 and $52,730 per year depending on location and employer.
What state pays Loan Officers the most?
Massachusetts pays Loan Officers the most at $118,390 per year on average, followed by New York ($114,670) and Minnesota ($104,700).
How much do Loan Officers make per hour?
Based on the average annual salary of $87,790, Loan Officers earn approximately $42.21 per hour (based on 2,080 working hours/year).
Is Loan Officers a good career in 2026?
BLS counts 274,330 Loan Officers jobs in the United States, with a mean annual wage of $87,790 and a median of $76,690 (OEWS May 2025). This site does not publish job-growth projections; the BLS Occupational Outlook Handbook covers the outlook for each occupation.
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