Occupational Employment and Wages, May 2022

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)
345,550	1.4 %	$ 40.46	$ 84,160	1.0 %

Percentile wage estimates for Loan Officers:

Percentile	10%	25%	50% (Median)	75%	90%
Hourly Wage	$ 16.79	$ 23.02	$ 31.60	$ 47.69	$ 66.63
Annual Wage (2)	$ 34,920	$ 47,890	$ 65,740	$ 99,200	$ 138,580

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)	172,200	8.51	$ 40.96	$ 85,190
Nondepository Credit Intermediation	115,240	18.68	$ 38.39	$ 79,860
Management of Companies and Enterprises	13,910	0.52	$ 41.80	$ 86,940
Automobile Dealers	11,020	0.88	$ 54.64	$ 113,640
Securities, Commodity Contracts, and Other Financial Investments and Related Activities	5,970	0.59	$ 54.86	$ 114,100

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	115,240	18.68	$ 38.39	$ 79,860
Credit Intermediation and Related Activities (5221 and 5223 only)	172,200	8.51	$ 40.96	$ 85,190
Other Investment Pools and Funds	340	1.98	$ 45.79	$ 95,250
Monetary Authorities-Central Bank	220	1.02	$ 51.89	$ 107,940
Automobile Dealers	11,020	0.88	$ 54.64	$ 113,640

Top paying industries for Loan Officers:

Industry	Employment (1)	Percent of industry employment	Hourly mean wage	Annual mean wage (2)
Securities, Commodity Contracts, and Other Financial Investments and Related Activities	5,970	0.59	$ 54.86	$ 114,100
Other Motor Vehicle Dealers	650	0.37	$ 54.74	$ 113,860
Automobile Dealers	11,020	0.88	$ 54.64	$ 113,640
Land Subdivision	(8)	(8)	$ 53.56	$ 111,400
Monetary Authorities-Central Bank	220	1.02	$ 51.89	$ 107,940

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 2022

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	38,380	2.18	0.93	$ 40.51	$ 84,250
Texas	28,560	2.20	0.94	$ 37.09	$ 77,140
Florida	26,910	2.92	1.25	$ 34.51	$ 71,790
Arizona	14,650	4.83	2.07	$ 33.74	$ 70,170
North Carolina	13,880	2.99	1.28	$ 40.65	$ 84,550

Map of location quotient of loan officers by state, May 2022

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)
Arizona	14,650	4.83	2.07	$ 33.74	$ 70,170
South Dakota	1,890	4.35	1.86	$ 37.78	$ 78,580
Missouri	10,700	3.79	1.62	$ 40.48	$ 84,190
Rhode Island	1,720	3.58	1.53	(8)	(8)
Idaho	2,760	3.46	1.48	$ 32.53	$ 67,670

Map of annual mean wages of loan officers by state, May 2022

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	580	0.84	0.36	$ 67.88	$ 141,180
Georgia	10,280	2.23	0.95	$ 56.47	$ 117,460
Michigan	13,140	3.09	1.32	$ 53.40	$ 111,070
New York	13,850	1.52	0.65	$ 50.41	$ 104,850
Nevada	2,720	1.93	0.83	$ 48.78	$ 101,470

Map of employment of loan officers by area, May 2022

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	16,010	2.62	1.12	$ 38.23	$ 79,520
New York-Newark-Jersey City, NY-NJ-PA	13,170	1.43	0.61	$ 52.33	$ 108,840
Phoenix-Mesa-Scottsdale, AZ	12,590	5.67	2.43	$ 33.67	$ 70,030
Dallas-Fort Worth-Arlington, TX	10,690	2.81	1.20	$ 38.79	$ 80,670
Chicago-Naperville-Elgin, IL-IN-WI	8,620	1.95	0.84	$ 43.73	$ 90,960
Detroit-Warren-Dearborn, MI	8,290	4.44	1.90	$ 59.35	$ 123,450
Washington-Arlington-Alexandria, DC-VA-MD-WV	6,550	2.17	0.93	$ 51.18	$ 106,450
Charlotte-Concord-Gastonia, NC-SC	6,340	4.99	2.14	$ 42.51	$ 88,430
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD	6,290	2.27	0.97	$ 41.94	$ 87,240
Tampa-St. Petersburg-Clearwater, FL	6,140	4.50	1.93	$ 36.32	$ 75,540

Map of location quotient of loan officers by area, May 2022

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	310	8.64	3.70	$ 28.13	$ 58,500
Pensacola-Ferry Pass-Brent, FL	1,100	6.07	2.60	$ 27.53	$ 57,260
Phoenix-Mesa-Scottsdale, AZ	12,590	5.67	2.43	$ 33.67	$ 70,030
Sioux Falls, SD	860	5.35	2.29	$ 38.27	$ 79,600
Hattiesburg, MS	320	5.12	2.19	$ 26.26	$ 54,610
Charlotte-Concord-Gastonia, NC-SC	6,340	4.99	2.14	$ 42.51	$ 88,430
Oxnard-Thousand Oaks-Ventura, CA	1,500	4.78	2.05	$ 30.11	$ 62,640
Owensboro, KY	240	4.67	2.00	$ 33.86	$ 70,420
Panama City, FL	380	4.67	2.00	$ 26.53	$ 55,180
Winchester, VA-WV	290	4.53	1.94	$ 38.31	$ 79,690