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Occupational Employment and Wages, May 2020
13-2072 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 estimates for Loan Officers
Industry profile for Loan Officers
Geographic profile for Loan Officers
National estimates for Loan Officers: Top
Employment estimate and mean wage estimates for Loan Officers:
| Employment (1) |
Employment
RSE (3) |
Mean hourly
wage |
Mean annual
wage (2) |
Wage RSE (3) |
| 308,700 |
1.2 % |
$ 36.99 |
$ 76,930 |
0.7 % |
Percentile wage estimates for Loan Officers:
| Percentile |
10% |
25% |
50%
(Median) |
75% |
90% |
| Hourly Wage |
$ 16.18 |
$ 21.89 |
$ 30.75 |
$ 44.95 |
$ 64.35 |
| Annual Wage (2) |
$ 33,650 |
$ 45,540 |
$ 63,960 |
$ 93,490 |
$ 133,850 |
Industry profile for Loan Officers: Top
Industries with the highest published employment and wages for Loan Officers are provided.
For a list of all industries with employment in Loan Officers, see the Create Customized Tables function.
Industries with the highest levels of employment in Loan Officers:
| Industry |
Employment (1) |
Percent of industry employment |
Hourly mean wage |
Annual mean wage (2) |
| Credit Intermediation and Related Activities (5221 and 5223 only) |
173,590 |
8.55 |
$ 36.74 |
$ 76,420 |
| Nondepository Credit Intermediation |
85,040 |
14.72 |
$ 36.23 |
$ 75,360 |
| Management of Companies and Enterprises |
14,260 |
0.59 |
$ 37.75 |
$ 78,530 |
| Automobile Dealers |
10,650 |
0.89 |
$ 47.13 |
$ 98,020 |
| Federal Executive Branch (OEWS Designation) |
4,560 |
0.22 |
$ 35.17 |
$ 73,160 |
Industries with the highest concentration of employment in Loan Officers:
Top paying industries for Loan Officers:
| Industry |
Employment (1) |
Percent of industry employment |
Hourly mean wage |
Annual mean wage (2) |
| Automobile Dealers |
10,650 |
0.89 |
$ 47.13 |
$ 98,020 |
| Other Motor Vehicle Dealers |
320 |
0.21 |
$ 45.13 |
$ 93,860 |
| Securities, Commodity Contracts, and Other Financial Investments and Related Activities |
3,060 |
0.32 |
$ 44.67 |
$ 92,910 |
| Data Processing, Hosting, and Related Services |
180 |
0.05 |
$ 43.03 |
$ 89,510 |
| Real Estate |
3,180 |
0.19 |
$ 42.87 |
$ 89,160 |
Geographic profile for Loan Officers: Top
States and areas with the highest published employment, location quotients, and wages for Loan Officers are provided.
For a list of all areas with employment in Loan Officers, see the Create Customized Tables function.
States with the highest employment level in Loan Officers:
| State |
Employment (1) |
Employment per thousand jobs |
Location quotient (9) |
Hourly mean wage |
Annual mean wage (2) |
| California |
34,710 |
2.11 |
0.95 |
$ 37.61 |
$ 78,220 |
| Texas |
23,590 |
1.95 |
0.88 |
$ 39.49 |
$ 82,130 |
| Florida |
16,980 |
2.01 |
0.91 |
$ 36.57 |
$ 76,060 |
| North Carolina |
12,980 |
3.03 |
1.36 |
$ 38.70 |
$ 80,490 |
| New York |
12,560 |
1.45 |
0.65 |
$ 50.19 |
$ 104,400 |
States with the highest concentration of jobs and location quotients in Loan Officers:
| State |
Employment (1) |
Employment per thousand jobs |
Location quotient (9) |
Hourly mean wage |
Annual mean wage (2) |
| South Dakota |
2,010 |
4.90 |
2.21 |
$ 33.72 |
$ 70,140 |
| Utah |
7,020 |
4.71 |
2.12 |
$ 27.59 |
$ 57,380 |
| Arizona |
9,650 |
3.40 |
1.53 |
$ 29.32 |
$ 60,980 |
| North Dakota |
1,330 |
3.31 |
1.49 |
$ 38.57 |
$ 80,230 |
| Minnesota |
8,760 |
3.23 |
1.46 |
$ 38.34 |
$ 79,740 |
Top paying states for Loan Officers:
| State |
Employment (1) |
Employment per thousand jobs |
Location quotient (9) |
Hourly mean wage |
Annual mean wage (2) |
| New York |
12,560 |
1.45 |
0.65 |
$ 50.19 |
$ 104,400 |
| Maryland |
5,040 |
2.00 |
0.90 |
$ 44.26 |
$ 92,060 |
| Hawaii |
1,280 |
2.22 |
1.00 |
$ 44.17 |
$ 91,880 |
| Georgia |
10,830 |
2.51 |
1.13 |
$ 41.44 |
$ 86,200 |
| Missouri |
7,610 |
2.83 |
1.27 |
$ 39.84 |
$ 82,880 |
Metropolitan areas with the highest employment level in Loan Officers:
| Metropolitan area |
Employment (1) |
Employment per thousand jobs |
Location quotient (9) |
Hourly mean wage |
Annual mean wage (2) |
| Los Angeles-Long Beach-Anaheim, CA |
15,550 |
2.67 |
1.20 |
$ 35.78 |
$ 74,430 |
| New York-Newark-Jersey City, NY-NJ-PA |
12,090 |
1.37 |
0.62 |
$ 51.91 |
$ 107,970 |
| Chicago-Naperville-Elgin, IL-IN-WI |
9,210 |
2.11 |
0.95 |
$ 34.86 |
$ 72,510 |
| Dallas-Fort Worth-Arlington, TX |
8,670 |
2.42 |
1.09 |
$ 41.97 |
$ 87,300 |
| Phoenix-Mesa-Scottsdale, AZ |
8,650 |
4.10 |
1.85 |
$ 28.31 |
$ 58,890 |
| Detroit-Warren-Dearborn, MI |
7,270 |
4.09 |
1.84 |
$ 40.68 |
$ 84,620 |
| Atlanta-Sandy Springs-Roswell, GA |
6,860 |
2.61 |
1.17 |
$ 46.44 |
$ 96,590 |
| Washington-Arlington-Alexandria, DC-VA-MD-WV |
6,630 |
2.19 |
0.99 |
$ 41.80 |
$ 86,940 |
| Minneapolis-St. Paul-Bloomington, MN-WI |
6,100 |
3.30 |
1.49 |
$ 39.71 |
$ 82,600 |
| Charlotte-Concord-Gastonia, NC-SC |
5,680 |
4.69 |
2.11 |
$ 40.15 |
$ 83,510 |
Metropolitan areas with the highest concentration of jobs and location quotients in Loan Officers:
| Metropolitan area |
Employment (1) |
Employment per thousand jobs |
Location quotient (9) |
Hourly mean wage |
Annual mean wage (2) |
| Pocatello, ID |
320 |
9.61 |
4.33 |
$ 26.11 |
$ 54,320 |
| Owensboro, KY |
350 |
7.38 |
3.32 |
$ 28.78 |
$ 59,850 |
| Salt Lake City, UT |
4,900 |
6.76 |
3.05 |
$ 26.04 |
$ 54,150 |
| Sioux Falls, SD |
910 |
5.94 |
2.67 |
$ 33.24 |
$ 69,150 |
| La Crosse-Onalaska, WI-MN |
340 |
4.77 |
2.15 |
$ 30.79 |
$ 64,050 |
| Charlotte-Concord-Gastonia, NC-SC |
5,680 |
4.69 |
2.11 |
$ 40.15 |
$ 83,510 |
| Twin Falls, ID |
210 |
4.66 |
2.10 |
$ 30.92 |
$ 64,310 |
| Lewiston-Auburn, ME |
220 |
4.59 |
2.07 |
$ 32.14 |
$ 66,850 |
| St. Cloud, MN |
450 |
4.54 |
2.05 |
$ 32.44 |
$ 67,470 |
| Oxnard-Thousand Oaks-Ventura, CA |
1,270 |
4.25 |
1.92 |
$ 36.71 |
$ 76,360 |
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United States Department of Labor
