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Occupational Employment and Wage Statistics

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:

Industry Employment (1) Percent of industry employment Hourly mean wage Annual mean wage (2)
Nondepository Credit Intermediation 83,200 14.61 $35.62 $74,080
Credit Intermediation and Related Activities (5221 And 5223 only) 175,430 8.58 $36.26 $75,410
Other Investment Pools and Funds 130 1.31 $31.22 $64,950
Automobile Dealers 11,940 0.92 $46.56 $96,840
Management of Companies and Enterprises 14,740 0.60 $37.58 $78,170

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 area Employment (1) Employment per thousand jobs Location quotient (9) Hourly mean wage Annual mean wage (2)
Kansas nonmetropolitan area 1,540 3.92 1.87 $30.03 $62,470
Southeast Coastal North Carolina nonmetropolitan area 690 2.77 1.32 $29.05 $60,430
North Texas Region of Texas nonmetropolitan area 650 2.36 1.13 $32.33 $67,240
Northwest Minnesota nonmetropolitan area 590 3.05 1.46 $34.94 $72,680
Northeastern Wisconsin nonmetropolitan area 580 2.85 1.36 $32.69 $67,990

Nonmetropolitan areas with the highest concentration of jobs and location quotients in this occupation:

Nonmetropolitan area Employment (1) Employment per thousand jobs Location quotient (9) Hourly mean wage Annual mean wage (2)
West South Dakota nonmetropolitan area 290 4.80 2.29 $31.00 $64,480
East North Dakota nonmetropolitan area 280 4.37 2.08 $31.85 $66,240
Northeast Nebraska nonmetropolitan area 390 4.16 1.98 $34.05 $70,820
East South Dakota nonmetropolitan area 540 4.12 1.96 $31.42 $65,360
Kansas nonmetropolitan area 1,540 3.92 1.87 $30.03 $62,470

Top paying nonmetropolitan areas for this occupation:

Nonmetropolitan area Employment (1) Employment per thousand jobs Location quotient (9) Hourly mean wage Annual mean wage (2)
Eastern Oregon nonmetropolitan area 130 1.92 0.91 $43.90 $91,310
Massachusetts nonmetropolitan area 120 1.92 0.91 $43.83 $91,170
Hawaii / Kauai nonmetropolitan area 190 1.85 0.88 $42.34 $88,080
West Central-Southwest New Hampshire nonmetropolitan area 80 0.78 0.37 $40.86 $84,980
Northwest Iowa nonmetropolitan area 470 3.43 1.63 $40.11 $83,420


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