Occupational Employment and Wage Statistics
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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:
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:
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:
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 |
Top paying metropolitan areas for Loan Officers:
| Metropolitan area |
Employment (1) |
Employment per thousand jobs |
Location quotient (9) |
Hourly mean wage |
Annual mean wage (2) |
| Eau Claire, WI |
210 |
2.61 |
1.18 |
$ 62.45 |
$ 129,900 |
| Stockton-Lodi, CA |
460 |
1.84 |
0.83 |
$ 58.22 |
$ 121,100 |
| Tyler, TX |
210 |
2.10 |
0.95 |
$ 55.14 |
$ 114,690 |
| New York-Newark-Jersey City, NY-NJ-PA |
12,090 |
1.37 |
0.62 |
$ 51.91 |
$ 107,970 |
| Kingston, NY |
70 |
1.27 |
0.57 |
$ 49.89 |
$ 103,760 |
| New Bedford, MA |
70 |
1.21 |
0.55 |
$ 49.83 |
$ 103,640 |
| Hanford-Corcoran, CA |
50 |
1.16 |
0.52 |
$ 48.29 |
$ 100,440 |
| Champaign-Urbana, IL |
210 |
2.21 |
0.99 |
$ 47.86 |
$ 99,540 |
| St. George, UT |
290 |
4.18 |
1.88 |
$ 47.52 |
$ 98,840 |
| Bismarck, ND |
250 |
3.67 |
1.65 |
$ 47.13 |
$ 98,030 |
Nonmetropolitan areas with the highest employment in Loan Officers:
Nonmetropolitan areas with the highest concentration of jobs and location quotients in Loan Officers:
Top paying nonmetropolitan areas for Loan Officers:
About May 2020 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.
(8) Estimate not released.
(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 OEWS estimates and related information:
May 2020 National Occupational Employment and Wage Estimates
May 2020 State Occupational Employment and Wage Estimates
May 2020 Metropolitan and Nonmetropolitan Area Occupational Employment and Wage Estimates
May 2020 National Industry-Specific Occupational Employment and Wage Estimates
May 2020 Occupation Profiles
Technical Notes
Last Modified Date: March 31, 2021
United States Department of Labor
