Occupational Employment and Wages, May 2023

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:

Employment estimate and mean wage estimates for Loan Officers:

Employment (1)	Employment RSE (3)	Mean hourly wage	Mean annual wage (2)	Wage RSE (3)
321,090	0.8 %	$ 40.62	$ 84,490	0.5 %

Percentile wage estimates for Loan Officers:

Percentile	10%	25%	50% (Median)	75%	90%
Hourly Wage	$ 17.80	$ 23.62	$ 33.65	$ 48.09	$ 67.05
Annual Wage (2)	$ 37,020	$ 49,130	$ 69,990	$ 100,020	$ 139,470

Industry profile for Loan Officers:

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)	167,130	8.19	$ 40.49	$ 84,230
Nondepository Credit Intermediation	97,560	17.72	$ 38.47	$ 80,010
Management of Companies and Enterprises	12,000	0.43	$ 43.26	$ 89,970
Automobile Dealers	10,880	0.86	$ 60.63	$ 126,100
Securities, Commodity Contracts, and Other Financial Investments and Related Activities	6,760	0.64	$ 53.43	$ 111,140

Industries with the highest concentration of employment in Loan Officers:

Industry	Employment (1)	Percent of industry employment	Hourly mean wage	Annual mean wage (2)
Nondepository Credit Intermediation	97,560	17.72	$ 38.47	$ 80,010
Credit Intermediation and Related Activities (5221 and 5223 only)	167,130	8.19	$ 40.49	$ 84,230
Other Investment Pools and Funds	210	1.11	$ 46.76	$ 97,260
Automobile Dealers	10,880	0.86	$ 60.63	$ 126,100
Securities, Commodity Contracts, and Other Financial Investments and Related Activities	6,760	0.64	$ 53.43	$ 111,140

Top paying industries for Loan Officers:

Industry	Employment (1)	Percent of industry employment	Hourly mean wage	Annual mean wage (2)
Automobile Dealers	10,880	0.86	$ 60.63	$ 126,100
Other Motor Vehicle Dealers	610	0.35	$ 55.57	$ 115,580
Securities, Commodity Contracts, and Other Financial Investments and Related Activities	6,760	0.64	$ 53.43	$ 111,140
Other Investment Pools and Funds	210	1.11	$ 46.76	$ 97,260
Management, Scientific, and Technical Consulting Services	950	0.05	$ 45.70	$ 95,060

Geographic profile for Loan Officers:

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.

Map of employment of loan officers by state, May 2023

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	30,520	1.70	0.80	$ 42.79	$ 89,010
Texas	28,460	2.10	0.99	$ 36.79	$ 76,520
Florida	25,670	2.68	1.27	$ 37.82	$ 78,660
North Carolina	14,790	3.08	1.46	$ 39.59	$ 82,350
Ohio	12,340	2.26	1.07	$ 36.56	$ 76,040

Map of location quotient of loan officers by state, May 2023

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	2,000	4.50	2.13	$ 38.91	$ 80,930
Delaware	1,680	3.57	1.69	$ 41.49	$ 86,300
Arizona	10,930	3.49	1.65	$ 31.66	$ 65,850
North Dakota	1,420	3.40	1.61	$ 44.72	$ 93,020
Idaho	2,670	3.25	1.54	$ 41.25	$ 85,790

Map of annual mean wages of loan officers by state, May 2023

Top paying states for Loan Officers:

State	Employment (1)	Employment per thousand jobs	Location quotient (9)	Hourly mean wage	Annual mean wage (2)
District of Columbia	380	0.54	0.25	$ 87.29	$ 181,550
New York	11,620	1.24	0.59	$ 57.74	$ 120,100
Massachusetts	6,410	1.76	0.83	$ 52.91	$ 110,060
New Hampshire	1,170	1.73	0.82	$ 47.80	$ 99,420
Vermont	430	1.44	0.68	$ 46.78	$ 97,300

Map of employment of loan officers by area, May 2023

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)
New York-Newark-Jersey City, NY-NJ-PA	12,240	1.29	0.61	$ 57.03	$ 118,620
Los Angeles-Long Beach-Anaheim, CA	11,900	1.92	0.91	$ 40.19	$ 83,590
Dallas-Fort Worth-Arlington, TX	10,920	2.75	1.30	$ 39.00	$ 81,120
Phoenix-Mesa-Scottsdale, AZ	9,490	4.14	1.96	$ 31.93	$ 66,420
Chicago-Naperville-Elgin, IL-IN-WI	8,720	1.94	0.92	$ 43.66	$ 90,810
Atlanta-Sandy Springs-Roswell, GA	6,610	2.35	1.11	$ 51.48	$ 107,080
Tampa-St. Petersburg-Clearwater, FL	6,520	4.61	2.18	$ 38.26	$ 79,580
Charlotte-Concord-Gastonia, NC-SC	5,840	4.45	2.10	$ 42.61	$ 88,640
Washington-Arlington-Alexandria, DC-VA-MD-WV	5,680	1.84	0.87	$ 54.90	$ 114,180
Detroit-Warren-Dearborn, MI	5,570	2.93	1.39	$ 43.48	$ 90,440

Map of location quotient of loan officers by area, May 2023

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	8.78	4.15	$ 30.43	$ 63,290
Columbia, MO	850	8.64	4.09	$ 34.11	$ 70,950
Pensacola-Ferry Pass-Brent, FL	1,480	7.99	3.78	$ 32.88	$ 68,390
Hattiesburg, MS	310	4.96	2.34	$ 27.37	$ 56,940
Coeur d'Alene, ID	340	4.78	2.26	$ 43.44	$ 90,350
Johnson City, TN	380	4.70	2.22	$ 35.87	$ 74,610
Tampa-St. Petersburg-Clearwater, FL	6,520	4.61	2.18	$ 38.26	$ 79,580
Sioux Falls, SD	760	4.58	2.17	$ 39.46	$ 82,080
Charlotte-Concord-Gastonia, NC-SC	5,840	4.45	2.10	$ 42.61	$ 88,640
Winchester, VA-WV	290	4.43	2.09	$ 39.06	$ 81,250