Occupational Employment and Wage Statistics
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Occupational Employment and Wages, May 2019
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 this occupation
Industry profile for this occupation
Geographic profile for this occupation
National estimates for this occupation:
Employment estimate and mean wage estimates for this occupation:
| Employment (1) |
Employment
RSE (3) |
Mean hourly
wage |
Mean annual
wage (2) |
Wage RSE (3) |
| 308,370 |
1.2 % |
$36.64 |
$76,200 |
0.6 % |
Percentile wage estimates for this occupation:
| Percentile |
10% |
25% |
50%
(Median) |
75% |
90% |
| Hourly Wage |
$15.65 |
$21.56 |
$30.42 |
$44.69 |
$63.79 |
| Annual Wage (2) |
$32,560 |
$44,840 |
$63,270 |
$92,960 |
$132,680 |
Industry profile for this occupation:
Industries with the highest published employment and wages for this occupation are provided.
For a list of all industries with employment in this occupation, see the Create Customized Tables function.
Industries with the highest levels of employment in this occupation:
| Industry |
Employment (1) |
Percent of industry employment |
Hourly mean wage |
Annual mean wage (2) |
| Credit Intermediation and Related Activities (5221 And 5223 only) |
175,430 |
8.58 |
$36.26 |
$75,410 |
| Nondepository Credit Intermediation |
83,200 |
14.61 |
$35.62 |
$74,080 |
| Management of Companies and Enterprises |
14,740 |
0.60 |
$37.58 |
$78,170 |
| Automobile Dealers |
11,940 |
0.92 |
$46.56 |
$96,840 |
| Federal Executive Branch (OES Designation) |
3,850 |
0.19 |
$35.45 |
$73,730 |
Industries with the highest concentration of employment in this occupation:
Top paying industries for this occupation:
| Industry |
Employment (1) |
Percent of industry employment |
Hourly mean wage |
Annual mean wage (2) |
| Securities, Commodity Contracts, and Other Financial Investments and Related Activities |
3,490 |
0.37 |
$51.26 |
$106,620 |
| Automobile Dealers |
11,940 |
0.92 |
$46.56 |
$96,840 |
| Real Estate |
3,100 |
0.19 |
$42.37 |
$88,120 |
| Grantmaking and Giving Services |
90 |
0.06 |
$40.90 |
$85,080 |
| Other Motor Vehicle Dealers |
400 |
0.25 |
$40.88 |
$85,040 |
Geographic profile for this occupation:
States and areas with the highest published employment, location quotients, and wages for this occupation are provided.
For a list of all areas with employment in this occupation, see the Create Customized Tables function.
States with the highest employment level in this occupation:
| State |
Employment (1) |
Employment per thousand jobs |
Location quotient (9) |
Hourly mean wage |
Annual mean wage (2) |
| California |
34,740 |
2.00 |
0.95 |
$37.15 |
$77,270 |
| Texas |
22,410 |
1.80 |
0.86 |
$39.39 |
$81,930 |
| Florida |
16,220 |
1.84 |
0.88 |
$35.57 |
$73,990 |
| North Carolina |
13,680 |
3.07 |
1.46 |
$36.33 |
$75,570 |
| New York |
13,420 |
1.41 |
0.67 |
$49.54 |
$103,040 |
States with the highest concentration of jobs and location quotients in this occupation:
| State |
Employment (1) |
Employment per thousand jobs |
Location quotient (9) |
Hourly mean wage |
Annual mean wage (2) |
| South Dakota |
1,880 |
4.43 |
2.11 |
$32.06 |
$66,680 |
| Utah |
6,000 |
3.99 |
1.90 |
$29.38 |
$61,110 |
| North Dakota |
1,430 |
3.38 |
1.61 |
$38.36 |
$79,790 |
| Nebraska |
3,170 |
3.23 |
1.54 |
$39.14 |
$81,410 |
| Arizona |
8,980 |
3.13 |
1.49 |
$29.17 |
$60,680 |
Top paying States for this occupation:
| State |
Employment (1) |
Employment per thousand jobs |
Location quotient (9) |
Hourly mean wage |
Annual mean wage (2) |
| New York |
13,420 |
1.41 |
0.67 |
$49.54 |
$103,040 |
| Massachusetts |
5,490 |
1.52 |
0.72 |
$43.97 |
$91,460 |
| Hawaii |
1,190 |
1.87 |
0.89 |
$42.19 |
$87,750 |
| Maryland |
4,830 |
1.79 |
0.85 |
$41.88 |
$87,120 |
| District of Columbia |
430 |
0.59 |
0.28 |
$41.77 |
$86,880 |
Metropolitan areas with the highest employment level in this occupation:
| Metropolitan area |
Employment (1) |
Employment per thousand jobs |
Location quotient (9) |
Hourly mean wage |
Annual mean wage (2) |
| Los Angeles-Long Beach-Anaheim, CA |
14,900 |
2.39 |
1.14 |
$34.91 |
$72,620 |
| New York-Newark-Jersey City, NY-NJ-PA |
13,210 |
1.37 |
0.65 |
$51.01 |
$106,090 |
| Chicago-Naperville-Elgin, IL-IN-WI |
9,100 |
1.95 |
0.93 |
$39.77 |
$82,720 |
| Dallas-Fort Worth-Arlington, TX |
8,890 |
2.43 |
1.16 |
$42.69 |
$88,790 |
| Phoenix-Mesa-Scottsdale, AZ |
7,940 |
3.74 |
1.78 |
$28.44 |
$59,160 |
| Detroit-Warren-Dearborn, MI |
7,820 |
3.95 |
1.88 |
$38.45 |
$79,970 |
| Washington-Arlington-Alexandria, DC-VA-MD-WV |
7,000 |
2.20 |
1.05 |
$44.57 |
$92,710 |
| Minneapolis-St. Paul-Bloomington, MN-WI |
5,920 |
3.01 |
1.43 |
$40.74 |
$84,740 |
| Atlanta-Sandy Springs-Roswell, GA |
5,830 |
2.12 |
1.01 |
$41.13 |
$85,550 |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD |
5,660 |
1.97 |
0.94 |
$34.01 |
$70,730 |
Metropolitan areas with the highest concentration of jobs and location quotients in this occupation:
| Metropolitan area |
Employment (1) |
Employment per thousand jobs |
Location quotient (9) |
Hourly mean wage |
Annual mean wage (2) |
| Owensboro, KY |
410 |
7.93 |
3.77 |
$28.99 |
$60,300 |
| Pocatello, ID |
260 |
7.49 |
3.57 |
$25.68 |
$53,420 |
| Sioux Falls, SD |
800 |
5.08 |
2.42 |
$31.99 |
$66,530 |
| Des Moines-West Des Moines, IA |
1,700 |
4.56 |
2.17 |
$32.10 |
$66,760 |
| Columbia, MO |
420 |
4.48 |
2.13 |
$37.39 |
$77,770 |
| Lewiston-Auburn, ME |
220 |
4.37 |
2.08 |
$30.35 |
$63,130 |
| Charlotte-Concord-Gastonia, NC-SC |
5,310 |
4.26 |
2.03 |
$37.63 |
$78,260 |
| Coeur d'Alene, ID |
260 |
4.14 |
1.97 |
$31.81 |
$66,160 |
| Wilmington, NC |
530 |
4.01 |
1.91 |
$39.51 |
$82,180 |
| Bismarck, ND |
280 |
3.97 |
1.89 |
$47.48 |
$98,760 |
Top paying metropolitan areas for this occupation:
| Metropolitan area |
Employment (1) |
Employment per thousand jobs |
Location quotient (9) |
Hourly mean wage |
Annual mean wage (2) |
| Stockton-Lodi, CA |
380 |
1.49 |
0.71 |
$56.41 |
$117,330 |
| Santa Maria-Santa Barbara, CA |
230 |
1.21 |
0.58 |
$54.56 |
$113,480 |
| Yuba City, CA |
100 |
2.16 |
1.03 |
$54.49 |
$113,340 |
| Lubbock, TX |
380 |
2.60 |
1.24 |
$52.16 |
$108,490 |
| New York-Newark-Jersey City, NY-NJ-PA |
13,210 |
1.37 |
0.65 |
$51.01 |
$106,090 |
| Enid, OK |
70 |
2.95 |
1.40 |
$50.48 |
$105,010 |
| Tyler, TX |
160 |
1.58 |
0.75 |
$48.87 |
$101,650 |
| Hanford-Corcoran, CA |
40 |
0.98 |
0.47 |
$48.71 |
$101,310 |
| Portland-South Portland, ME |
410 |
1.97 |
0.94 |
$48.14 |
$100,120 |
| Bismarck, ND |
280 |
3.97 |
1.89 |
$47.48 |
$98,760 |
Nonmetropolitan areas with the highest employment in this occupation:
Nonmetropolitan areas with the highest concentration of jobs and location quotients in this occupation:
Top paying nonmetropolitan areas for this occupation:
About May 2019 National, State, Metropolitan, and Nonmetropolitan Area Occupational Employment and Wage Estimates
These estimates are calculated with data collected from employers in all industry sectors, all metropolitan and nonmetropolitan areas, and all states and the District of Columbia.
The top employment and wage figures are provided above. The complete list is available in the downloadable XLS files.
The percentile wage estimate is the value of a wage below which a certain percent of workers fall.
The median wage is the 50th percentile wage estimate--50 percent of workers earn less than the median and 50 percent of workers earn more than the median.
More about percentile wages.
(1) Estimates for detailed occupations do not sum to the totals because the totals include occupations not shown separately. Estimates do not include self-employed workers.
(2) Annual wages have been calculated by multiplying the hourly mean wage by a "year-round, full-time" hours figure of 2,080 hours;
for those occupations where there is not an hourly wage published, the annual wage has been directly calculated from the reported survey data.
(3) The relative standard error (RSE) is a measure of the reliability of a survey statistic. The smaller the relative standard error, the more precise the estimate.
(9) The location quotient is the ratio of the area concentration of occupational employment to the national average concentration.
A location quotient greater than one indicates the occupation has a higher share of employment than average, and a location quotient less than one indicates the occupation is less prevalent in the area than average.
Other OES estimates and related information:
May 2019 National Occupational Employment and Wage Estimates
May 2019 State Occupational Employment and Wage Estimates
May 2019 Metropolitan and Nonmetropolitan Area Occupational Employment and Wage Estimates
May 2019 National Industry-Specific Occupational Employment and Wage Estimates
May 2019 Occupation Profiles
Technical Notes
Last Modified Date: July 6, 2020
United States Department of Labor
