Median Salary
$76,690
per year, national
Hourly Rate
$36.87
based on 2,080 hrs/yr
Top 10% Earn
$153,180
entry level starts ~$39,430
Pay Grade
B
solid pay · 274,000 employed
How much does a Loan Officer make?
Loan Officers in the United States bring home a median salary of $76,690 a year, or around $36.87 an hour. Pay spans a wide range: the bottom 10% earn under $39,430, while the top 10% earn $153,180.
That is $15,300 more than the median across all occupations in BLS data ($61,390).
Loan Officer salary range by percentile
Half of all Loan Officers earn between $52,730 and $104,080 a year.
| Pay level | Annual salary | Hourly rate | |
|---|
| 10th percentile (entry level) | $39,430 | $18.96 |
|
| 25th percentile (early career) | $52,730 | $25.35 |
|
| 50th percentile (median) | $76,690 | $36.87 |
|
| 75th percentile (experienced) | $104,080 | $50.04 |
|
| 90th percentile (top earners) | $153,180 | $73.64 |
|
Highest-paying states for Loan Officer
Where you work matters more than almost anything else. Massachusetts leads the country for Loan Officer pay at $101,600 a year, followed by Connecticut ($95,730) and New York ($95,710). At the other end, West Virginia posts the lowest median at $57,580 — a gap of $44,020 for the same job, driven by local demand, industry mix, and cost of living.
Loan Officer salary in every state
Official BLS state-level figures across 51 states and territories. Click a state for the full local breakdown.
Massachusetts $101,600Connecticut $95,730New York $95,710Minnesota $95,170Colorado $94,520Oregon $94,440New Jersey $92,920District of Columbia $92,890Vermont $88,710Kansas $86,970North Dakota $84,650Iowa $83,670Delaware $83,130Maine $81,900California $81,770New Hampshire $80,660Washington $80,120South Dakota $79,920Nebraska $79,840Wyoming $79,620Illinois $79,150Virginia $78,320Wisconsin $78,290Rhode Island $77,250Ohio $76,370North Carolina $75,920Michigan $74,470Missouri $73,660Maryland $73,580Oklahoma $72,990Indiana $72,960Alaska $72,800Montana $71,570Florida $71,090Idaho $71,070Arkansas $70,260Pennsylvania $69,300Georgia $68,490Alabama $66,710Texas $66,370Nevada $64,500Hawaii $63,740South Carolina $63,220Tennessee $62,800New Mexico $62,610Arizona $62,160Kentucky $62,090Louisiana $61,110Mississippi $60,260Utah $59,440West Virginia $57,580
Workforce and education
About 274,000 people work as Loan Officers in the United States. The mean (average) wage is $87,790 — above the median, which means high earners pull the average up. On qualifications: a bachelor's degree (about 4 years of college) is the standard entry requirement, per O*NET occupation data.
Frequently asked questions
How much does a Loan Officer make in the United States?
The median Loan Officer salary in the United States is $76,690 per year, or about $36.87 per hour, according to U.S. Bureau of Labor Statistics estimates. Entry-level pay (10th percentile) starts around $39,430, while the top 10% of earners make $153,180 or more.
How does Loan Officer pay compare to other jobs?
With a pay grade of B (solid pay), the Loan Officer median of $76,690 is above the national median across all occupations tracked in BLS data ($61,390).
Which state pays Loan Officers the most?
Massachusetts is the highest-paying state for Loan Officers, with a median salary of $101,600 per year, based on official state-level BLS wage estimates.
How long does it take to become a Loan Officer?
Becoming a Loan Officer typically requires about 4 years of college. A bachelor's degree (about 4 years of college) is the standard entry requirement.
How many Loan Officers work in the United States?
About 274,000 people were employed as Loan Officers in the United States in the latest BLS Occupational Employment and Wage Statistics estimates.
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Source: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS), Unknown vintage. Education requirements: O*NET (U.S. Department of Labor). Percentiles, employment, and state figures are official BLS estimates; hourly figures assume 2,080 hours/year. Individual pay varies by employer, experience, and location.