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Occupational Employment and Wage Statistics
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Occupational Employment and Wages, May 2021

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)
340,170 1.1 % $ 38.74 $ 80,570 0.8 %

Percentile wage estimates for Loan Officers:

Percentile 10% 25% 50%
(Median)
75% 90%
Hourly Wage $ 15.64 $ 22.83 $ 30.47 $ 47.18 $ 66.50
Annual Wage (2) $ 32,520 $ 47,490 $ 63,380 $ 98,130 $ 138,310


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) 177,920 8.89 $ 38.50 $ 80,090
Nondepository Credit Intermediation 106,390 17.11 $ 37.84 $ 78,710
Management of Companies and Enterprises 14,010 0.55 $ 38.71 $ 80,520
Automobile Dealers 10,960 0.90 $ 50.31 $ 104,640
Federal Executive Branch (OEWS Designation) 5,920 0.28 $ 32.68 $ 67,980

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 106,390 17.11 $ 37.84 $ 78,710
Credit Intermediation and Related Activities (5221 and 5223 only) 177,920 8.89 $ 38.50 $ 80,090
Monetary Authorities-Central Bank 290 1.40 $ 53.17 $ 110,580
Other Investment Pools and Funds 150 1.20 $ 39.32 $ 81,780
Automobile Dealers 10,960 0.90 $ 50.31 $ 104,640

Top paying industries for Loan Officers:

Industry Employment (1) Percent of industry employment Hourly mean wage Annual mean wage (2)
Professional and Commercial Equipment and Supplies Merchant Wholesalers 30 (7) $ 101.18 $ 210,460
Securities, Commodity Contracts, and Other Financial Investments and Related Activities 5,300 0.55 $ 57.35 $ 119,300
Monetary Authorities-Central Bank 290 1.40 $ 53.17 $ 110,580
Automobile Dealers 10,960 0.90 $ 50.31 $ 104,640
Data Processing, Hosting, and Related Services 130 0.04 $ 48.69 $ 101,270


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 2021


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 37,120 2.25 0.93 $ 39.71 $ 82,610
Florida 26,770 3.11 1.29 $ 35.86 $ 74,590
Texas 26,500 2.17 0.90 $ 34.76 $ 72,300
New York 15,700 1.81 0.75 $ 51.81 $ 107,770
Michigan 15,040 3.70 1.53 $ 44.11 $ 91,740


Map of location quotient of loan officers by state, May 2021


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 1,880 4.47 1.85 $ 35.64 $ 74,130
Arizona 12,650 4.39 1.82 $ 30.16 $ 62,730
Michigan 15,040 3.70 1.53 $ 44.11 $ 91,740
Idaho 2,790 3.68 1.53 $ 31.72 $ 65,970
Utah 5,520 3.55 1.47 $ 31.46 $ 65,440


Map of annual mean wages of loan officers by state, May 2021


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 15,700 1.81 0.75 $ 51.81 $ 107,770
Nevada 2,860 2.22 0.92 $ 48.89 $ 101,690
District of Columbia 420 0.64 0.26 $ 47.21 $ 98,200
Oregon 5,200 2.85 1.18 $ 46.32 $ 96,340
Massachusetts 6,010 1.77 0.73 $ 45.85 $ 95,370



Map of employment of loan officers by area, May 2021


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 15,680 1.81 0.75 $ 53.76 $ 111,830
Los Angeles-Long Beach-Anaheim, CA 15,280 2.67 1.11 $ 37.15 $ 77,260
Phoenix-Mesa-Scottsdale, AZ 11,070 5.23 2.17 $ 30.42 $ 63,280
Chicago-Naperville-Elgin, IL-IN-WI 11,050 2.61 1.08 $ 39.11 $ 81,340
Dallas-Fort Worth-Arlington, TX 10,740 2.99 1.24 $ 35.38 $ 73,580
Detroit-Warren-Dearborn, MI 10,120 5.62 2.33 $ 46.00 $ 95,670
Tampa-St. Petersburg-Clearwater, FL 6,800 5.27 2.18 $ 36.63 $ 76,180
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD 6,770 2.55 1.06 $ 40.60 $ 84,440
Washington-Arlington-Alexandria, DC-VA-MD-WV 6,250 2.13 0.88 $ 47.84 $ 99,500
Miami-Fort Lauderdale-West Palm Beach, FL 6,140 2.50 1.04 $ 37.09 $ 77,150


Map of location quotient of loan officers by area, May 2021


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)
Columbia, MO 1,140 12.31 5.10 $ 46.01 $ 95,700
Pocatello, ID 300 8.84 3.66 $ 27.14 $ 56,460
Pensacola-Ferry Pass-Brent, FL 1,050 6.01 2.49 $ 29.05 $ 60,430
Owensboro, KY 290 5.81 2.41 $ 31.40 $ 65,320
Detroit-Warren-Dearborn, MI 10,120 5.62 2.33 $ 46.00 $ 95,670
Tampa-St. Petersburg-Clearwater, FL 6,800 5.27 2.18 $ 36.63 $ 76,180
Phoenix-Mesa-Scottsdale, AZ 11,070 5.23 2.17 $ 30.42 $ 63,280
Sioux Falls, SD 800 5.15 2.13 $ 36.01 $ 74,890
Oxnard-Thousand Oaks-Ventura, CA 1,440 4.86 2.01 $ 33.66 $ 70,020
Des Moines-West Des Moines, IA 1,660 4.65 1.93 $ 36.49 $ 75,890