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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: Top

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: Top

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:

Industry Employment (1) Percent of industry employment Hourly mean wage Annual mean wage (2)
Nondepository Credit Intermediation 85,040 14.72 $ 36.23 $ 75,360
Credit Intermediation and Related Activities (5221 and 5223 only) 173,590 8.55 $ 36.74 $ 76,420
Automobile Dealers 10,650 0.89 $ 47.13 $ 98,020
Management of Companies and Enterprises 14,260 0.59 $ 37.75 $ 78,530
Monetary Authorities-Central Bank 90 0.46 (8) (8)

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: Top

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