SOC 13-2072 · May 2025
Loan Officer Salary
Loan Officers in the US earn a median of $76,690 a year ($42.21 an hour on average), according to the BLS May 2025 wage survey. Average Loan Officer pay climbed from $76,200 in 2019 to $87,790 in 2025, a +15.2% change in 6 years.
Median annual
$76,690
Half of all Loan Officers in the United States earn more than this figure, half earn less. From the BLS Occupational Employment and Wage Statistics May 2025 release.
Wage trend
+15.2% since 2019 · +2.1% YoY
Hourly
$42.21
Job growth 2025-35
+1.1%
US workers
274,330
BLS series
Annual median wage for Loan Officers in All Industries in the United States
Salary range
From entry to top decile
The 10th-to-90th percentile spread for Loan Officers is $39,430 – $153,180.
Percentile distribution
USD · annual
10th
$39,430
25th
$52,730
Median
$76,690
75th
$104,080
90th
$153,180
Percentile bands
Where your pay would sit
Percentile bands
Annual wages at each point of the BLS distribution for Loan Officers. Where you sit depends on experience, employer, location and credentials.
| Percentile | What it means | Annual wage |
|---|---|---|
| 10th percentile | 10% earn less. Common for new entrants | $39,430 |
| 25th percentile | A quarter earn less | $52,730 |
| Median | Half earn more, half earn less | $76,690 |
| 75th percentile | A quarter earn more | $104,080 |
| 90th percentile | 10% earn more. Often senior or specialist staff | $153,180 |
Geography
Loan Officer pay by state
Loan Officers earn the most in Massachusetts ($101,600, +32% against the national median) and the least in West Virginia ($57,580). BLS publishes a May 2025 estimate for this occupation in 51 of 51 states and D.C.
National median
$76,690
Highest-paying states for loan officers
| State | Annual median | vs national | Employed |
|---|---|---|---|
| Massachusetts | $101,600 | +32% | 4,470 |
| Connecticut | $95,730 | +25% | 2,220 |
| New York | $95,710 | +25% | 10,840 |
| Minnesota | $95,170 | +24% | 6,430 |
| Colorado | $94,520 | +23% | 3,230 |
| Oregon | $94,440 | +23% | 4,220 |
| New Jersey | $92,920 | +21% | 6,200 |
| D.C. | $92,890 | +21% | 370 |
| Vermont | $88,710 | +16% | 350 |
| Kansas | $86,970 | +13% | 3,540 |
All 51 states, highest to lowest
| State | Annual median | Employed |
|---|---|---|
| Massachusetts | $101,600 | 4,470 |
| Connecticut | $95,730 | 2,220 |
| New York | $95,710 | 10,840 |
| Minnesota | $95,170 | 6,430 |
| Colorado | $94,520 | 3,230 |
| Oregon | $94,440 | 4,220 |
| New Jersey | $92,920 | 6,200 |
| D.C. | $92,890 | 370 |
| Vermont | $88,710 | 350 |
| Kansas | $86,970 | 3,540 |
| North Dakota | $84,650 | 1,370 |
| Iowa | $83,670 | 2,840 |
| Delaware | $83,130 | 1,420 |
| Maine | $81,900 | 1,060 |
| California | $81,770 | 25,790 |
| New Hampshire | $80,660 | 1,120 |
| Washington | $80,120 | 6,040 |
| South Dakota | $79,920 | 1,820 |
| Nebraska | $79,840 | 2,710 |
| Wyoming | $79,620 | 740 |
| Illinois | $79,150 | 10,890 |
| Virginia | $78,320 | 8,790 |
| Wisconsin | $78,290 | 4,940 |
| Rhode Island | $77,250 | 1,290 |
| Ohio | $76,370 | 9,880 |
| North Carolina | $75,920 | 10,700 |
| Michigan | $74,470 | 11,340 |
| Missouri | $73,660 | 7,050 |
| Maryland | $73,580 | 3,850 |
| Oklahoma | $72,990 | 4,100 |
| Indiana | $72,960 | 4,790 |
| Alaska | $72,800 | 490 |
| Montana | $71,570 | 1,180 |
| Florida | $71,090 | 18,830 |
| Idaho | $71,070 | 2,030 |
| Arkansas | $70,260 | 2,610 |
| Pennsylvania | $69,300 | 8,140 |
| Georgia | $68,490 | 9,540 |
| Alabama | $66,710 | 5,050 |
| Texas | $66,370 | 21,200 |
| Nevada | $64,500 | 2,580 |
| Hawaii | $63,740 | 980 |
| South Carolina | $63,220 | 4,140 |
| Tennessee | $62,800 | 6,510 |
| New Mexico | $62,610 | 1,140 |
| Arizona | $62,160 | 10,020 |
| Kentucky | $62,090 | 3,940 |
| Louisiana | $61,110 | 2,810 |
| Mississippi | $60,260 | 3,450 |
| Utah | $59,440 | 3,990 |
| West Virginia | $57,580 | 1,290 |
Source: BLS Occupational Employment and Wage Statistics, state estimates, May 2025, all industries.
What affects this salary
Pay drivers for Loan Officers
Loan officers (BLS SOC 13-2072) evaluate, authorize, or recommend approval of loans for businesses, mortgages, and consumer credit. The role typically requires a bachelor's degree and, for mortgage origination, NMLS licensure under the SAFE Act. Compensation often combines base salary with commission tied to loan production; commercial and large-mortgage originators routinely exceed the OEWS median substantially during high-volume markets.
The 10th-to-90th percentile spread is $39,430 – $153,180. That gap reflects experience, certification, employer type, geographic cost of living, and shift differentials where applicable.
Geography matters. The best-paying states for this role are Massachusetts, Connecticut and New York. Pay in Massachusetts runs 1.8 times the level in West Virginia, before any adjustment for cost of living.
Getting in. BLS lists the typical entry-level education as bachelor's degree, and projects about 17,100 openings a year over 2025-35. Employment is projected to grow 1.1% over the same period, against 3.5% for all occupations.
Frequently asked
Questions readers ask
Frequently asked
What is the average Loan Officer salary in the US?
How much does a Loan Officer make an hour?
How much do Loan Officers make at the low and high end?
Which state pays Loan Officers the most?
Is the average Loan Officer salary higher than the median?
Is Loan Officer a growing career?
Open positions
Open Loan Officer roles hiring now
Browse current Loan Officer listings on Indeed and ZipRecruiter, filtered to your role.
Source & methodology
Wage and employment figures are from the U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS) program, May 2025 release. Standard Occupational Classification: 13-2072. Figures represent the national median, mean, and percentile distribution across all employers and industries. Hourly equivalents assume a 2,080-hour work year. Job growth, annual openings and typical education are from the BLS Employment Projections program, 2025-35; see the Occupational Outlook Handbook entry. Read our methodology for details on how the data is sourced, transformed, and refreshed.