A Loan Officer earns an average salary of $40,596 per year. Most people with this job move on to other positions after 20 years in this career. The highest paying skills associated with this job are Commercial Loans, Financial Analysis, and Mortgage Loans.
Loan Officer Total Pay (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$27,143 - $74,253
(Median)
27K
41K
54K
74K
MEDIAN: $40,595
10%
50%
75%
90%
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Loan Officer Total Pay (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$10.29 - $19.58
(Median)
10
12
14
17
20
MEDIAN: $14.00
10%
25%
50%
75%
90%
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National Salary Data

 (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$34K$68K$102K
Salary
$27,143 - $74,253  
   
Bonus
$0.00 - $10,247  
Profit Sharing
$504 - $6,533  
Commission
$0.00 - $99,886  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$26,369 - $82,726  
PayScale
Country: United States | Currency: USD | Updated: 24 Apr 2014 | Individuals Reporting: 2,526
National Hourly Rate Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$17$34$51
Hourly Rate
$10.29 - $19.58  
   
Overtime
$12.62 - $29.84  
National Annualized Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$50K$100K$150K
Bonus
$0.00 - $10,247  
   
Commission
$0.00 - $99,886  
Profit Sharing
$504 - $6,533  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$26,369 - $82,726  
PayScale
Country: United States | Currency: USD | Updated: 24 Apr 2014 | Individuals Reporting: 2,526
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Loan Officer Job Listings

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Popular Employer Salaries for Loan Officer
Job Description for Loan Officer
Loan officers work for lenders such as financial institutions or banks as well as other agencies specializing in loans. They work to help borrowers obtain money they may need for financial ventures such as mortgaging a home, starting a new business, or buying a car. Loan officers must also work to minimize the risk to their place of employment in terms of what loans may be given and to whom.
Read More...
Loan Officer Tasks
  • Track and maintain credit and loan data.
  • Work directly with clients to review agreements, explain programs, and negotiate loans and terms.
  • Obtain and compile financial information to evaluate loan applications and their risk.
  • Generate new clients and referrals through strong relationship building.
Read more about: Credit Analysts , Loan Officers
Popular Skills for Loan Officer
Pay by Experience Level for Loan Officer
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Pay Difference By Location
Irvine
up arrow 152%
Chicago
up arrow 62%
Philadelphia
up arrow 49%
New York
up arrow 40%
San Diego
up arrow 36%
up arrow 22%
San Antonio
up arrow 21%
Columbus
up arrow 10%
Atlanta
up arrow 5%
Houston
up arrow 1%
Portland
up arrow 1%
National Average
$40,000
Denver
up arrow 18%
Phoenix
up arrow 19%
Larger circles over a city indicate a job is popular in that location.
Related Job Salaries

Experience Affects Loan Officer Salaries

National Average
$40,000

Skills That Affect Loan Officer Salaries

Loan Underwriting
up arrow 2%
National Average
$40,000
Consumer Loans
up arrow 3%
Job Satisfaction
Extremely satisfied Image
Extremely satisfied
Rated 5 out of 5 based on 473 votes.
Gender
Female
50%
female alumni
 
Male
50%
male alumni
Years of Experience
Less than 1 year
7%
1-4 years
40%
5-9 years
26%
10-19 years
20%
20 years or more
7%
Common Health Benefits
medical benefits Medical: 83% dental benefits Dental: 65%
vision benefits Vision: 47% employee benefits None: 14%
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