Loan Officers Salaries by State
Mean and median pay, wage percentiles, employment, and top-paying metro areas for loan officerss across the U.S. Source: BLS OEWS May 2025 (data.bls.gov OEWS tool /OESServices/combo/table, all-occupation crawl by area).
National mean salary $87,790 ≈ $42/hr
National median salary $76,690
Total employment 274,330 nationwide
Job Outlook, 2024–2034
Source: BLS Employment Projections 2024-2034.
Projected growth +1.7%
Slower than average
Annual openings 20,300 per year (avg)
Employment 2024→2034 301,400 → 306,500 (+5,000)
Typical entry education Bachelor's degree
Salary Map
Brighter tiles = higher average pay; dashed tiles have no data. Click a state for details.
💰 Top 5 Highest-Paying States
- Massachusetts$118,390
- New York$114,670
- Minnesota$104,700
- New Jersey$102,890
- Connecticut$101,710
📉 5 Lowest-Paying States
- West Virginia$66,780
- Tennessee$71,590
- Louisiana$73,240
- Alaska$73,300
- Utah$73,370
State Rankings
| # | State | Mean | Median | Hourly | vs. U.S. | Employment |
|---|---|---|---|---|---|---|
| 1 | Massachusetts | $118,390 | $101,600 | $57 | +34.9% | 4,470 |
| 2 | New York | $114,670 | $95,710 | $55 | +30.6% | 10,840 |
| 3 | Minnesota | $104,700 | $95,170 | $50 | +19.3% | 6,430 |
| 4 | New Jersey | $102,890 | $92,920 | $49 | +17.2% | 6,200 |
| 5 | Connecticut | $101,710 | $95,730 | $49 | +15.9% | 2,220 |
| 6 | Vermont | $101,600 | $88,710 | $49 | +15.7% | 350 |
| 7 | Oregon | $101,000 | $94,440 | $49 | +15% | 4,220 |
| 8 | District of Columbia | $100,150 | $92,890 | $48 | +14.1% | 370 |
| 9 | Kansas | $98,160 | $86,970 | $47 | +11.8% | 3,540 |
| 10 | Colorado | $97,840 | $94,520 | $47 | +11.4% | 3,230 |
| 11 | California | $97,120 | $81,770 | $47 | +10.6% | 25,790 |
| 12 | New Hampshire | $97,080 | $80,660 | $47 | +10.6% | 1,120 |
| 13 | Washington | $94,320 | $80,120 | $45 | +7.4% | 6,040 |
| 14 | Iowa | $93,090 | $83,670 | $45 | +6% | 2,840 |
| 15 | Delaware | $92,000 | $83,130 | $44 | +4.8% | 1,420 |
| 16 | North Dakota | $91,760 | $84,650 | $44 | +4.5% | 1,370 |
| 17 | Idaho | $90,160 | $71,070 | $43 | +2.7% | 2,030 |
| 18 | Virginia | $90,090 | $78,320 | $43 | +2.6% | 8,790 |
| 19 | Nebraska | $89,530 | $79,840 | $43 | +2% | 2,710 |
| 20 | Illinois | $89,350 | $79,150 | $43 | +1.8% | 10,890 |
| 21 | Wisconsin | $89,090 | $78,290 | $43 | +1.5% | 4,940 |
| 22 | Maine | $88,830 | $81,900 | $43 | +1.2% | 1,060 |
| 23 | Wyoming | $87,930 | $79,620 | $42 | +0.2% | 740 |
| 24 | Nevada | $87,850 | $64,500 | $42 | +0.1% | 2,580 |
| 25 | Oklahoma | $86,020 | $72,990 | $41 | -2% | 4,100 |
| 26 | South Dakota | $85,970 | $79,920 | $41 | -2.1% | 1,820 |
| 27 | Arkansas | $85,120 | $70,260 | $41 | -3% | 2,610 |
| 28 | Georgia | $84,980 | $68,490 | $41 | -3.2% | 9,540 |
| 29 | Maryland | $84,190 | $73,580 | $40 | -4.1% | 3,850 |
| 30 | North Carolina | $84,160 | $75,920 | $40 | -4.1% | 10,700 |
| 31 | Michigan | $83,990 | $74,470 | $40 | -4.3% | 11,340 |
| 32 | Ohio | $83,960 | $76,370 | $40 | -4.4% | 9,880 |
| 33 | Alabama | $83,410 | $66,710 | $40 | -5% | 5,050 |
| 34 | Rhode Island | $82,690 | $77,250 | $40 | -5.8% | 1,290 |
| 35 | Missouri | $82,180 | $73,660 | $40 | -6.4% | 7,050 |
| 36 | Hawaii | $81,330 | $63,740 | $39 | -7.4% | 980 |
| 37 | Florida | $81,320 | $71,090 | $39 | -7.4% | 18,830 |
| 38 | Pennsylvania | $80,450 | $69,300 | $39 | -8.4% | 8,140 |
| 39 | Texas | $79,410 | $66,370 | $38 | -9.5% | 21,200 |
| 40 | Indiana | $78,980 | $72,960 | $38 | -10% | 4,790 |
| 41 | South Carolina | $77,890 | $63,220 | $37 | -11.3% | 4,140 |
| 42 | Montana | $77,390 | $71,570 | $37 | -11.8% | 1,180 |
| 43 | Arizona | $77,060 | $62,160 | $37 | -12.2% | 10,020 |
| 44 | New Mexico | $75,410 | $62,610 | $36 | -14.1% | 1,140 |
| 45 | Kentucky | $74,870 | $62,090 | $36 | -14.7% | 3,940 |
| 46 | Mississippi | $73,480 | $60,260 | $35 | -16.3% | 3,450 |
| 47 | Utah | $73,370 | $59,440 | $35 | -16.4% | 3,990 |
| 48 | Alaska | $73,300 | $72,800 | $35 | -16.5% | 490 |
| 49 | Louisiana | $73,240 | $61,110 | $35 | -16.6% | 2,810 |
| 50 | Tennessee | $71,590 | $62,800 | $34 | -18.5% | 6,510 |
| 51 | West Virginia | $66,780 | $57,580 | $32 | -23.9% | 1,290 |
Top-Paying Metro Areas
Highest median pay among 511 metro areas.
| # | Metro area | Median | Mean | Employment |
|---|---|---|---|---|
| 1 | Massachusetts nonmetropolitan area | $134,980 | $134,730 | 50 |
| 2 | Enid, OK | $104,990 | $110,150 | 40 |
| 3 | Bridgeport-Stamford-Danbury, CT | $103,850 | $115,770 | 560 |
| 4 | Boston-Cambridge-Newton, MA-NH | $103,400 | $120,300 | 3,420 |
| 5 | San Francisco-Oakland-Fremont, CA | $103,000 | $116,480 | 3,330 |
| 6 | Minneapolis-St. Paul-Bloomington, MN-WI | $102,200 | $110,870 | 3,910 |
| 7 | New York-Newark-Jersey City, NY-NJ | $101,570 | $121,180 | 10,350 |
| 8 | Des Moines-West Des Moines, IA | $101,190 | $101,800 | 650 |
| 9 | Lawrence, KS | $100,480 | $114,920 | 80 |
| 10 | Denver-Aurora-Centennial, CO | $100,130 | $103,790 | 1,970 |
Pay by Industry
Highest-paying industries employing loan officerss (BLS OEWS, by median).
| # | Industry | Median | Mean | Employment |
|---|---|---|---|---|
| 1 | Automotive Equipment Rental and Leasing | $128,300 | $122,520 | — |
| 2 | Other Investment Pools and Funds | $110,980 | $112,700 | 210 |
| 3 | Funds, Trusts, and Other Financial Vehicles | $109,320 | $111,760 | 220 |
| 4 | Automobile Dealers | $106,000 | $126,540 | 11,360 |
| 5 | Motor Vehicle and Parts Dealers | $103,990 | $124,840 | 12,200 |
| 6 | Rental and Leasing Services | $103,470 | $116,280 | 50 |
| 7 | Sectors 44 and 45 - Retail Trade | $103,260 | $124,270 | 12,290 |
| 8 | Grantmaking and Giving Services | $101,260 | $102,140 | — |
| 9 | Securities, Commodity Contracts, and Other Financial Investments and Related Activities | $99,960 | $116,270 | 5,040 |
| 10 | Computer Systems Design and Related Services | $97,900 | $99,000 | 490 |
| 11 | Other Motor Vehicle Dealers | $94,190 | $102,620 | 810 |
| 12 | Real Estate | $84,090 | $91,300 | 3,280 |
Frequently Asked Questions
How much do loan officers make in the U.S.?
The median loan officers salary in the United States is $76,690 per year (mean $87,790), and about 80% earn between $39,430 and $153,180.
How much do loan officers make per hour?
Roughly $42 per hour, based on a mean annual wage of $87,790 and 2,080 work hours per year.
Which state pays loan officers the most?
Massachusetts has the highest average pay for loan officers at $118,390 per year (median $101,600).
What is the job outlook for loan officers?
Employment is projected to change +1.7% from 2024 to 2034 (Slower than average), with about 20,300 openings per year.
What People Search
Common U.S. search queries related to this occupation.
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