Loan Officers pay in the U.S.
$87,790avg. a year
$42.21 an hour · 274,330 employed
Loan Officers in the U.S. earn an average of $87,790 a year and a median of $76,690. Pay is highest in Massachusetts ($118,390) and lowest in West Virginia ($66,780).
$76,690Median pay
$42.21Average hourly
+14%Avg. pay since 2020
274,330Jobs in the U.S.
Top-paying states for loan officers
Average pay by state. Swipe to see the top 10.
14,470 jobs
Massachusetts
$118,390
$56.92 an hour
210,840 jobs
New York
$114,670
$55.13 an hour
36,430 jobs
Minnesota
$104,700
$50.34 an hour
46,200 jobs
New Jersey
$102,890
$49.47 an hour
52,220 jobs
Connecticut
$101,710
$48.90 an hour
6350 jobs
Vermont
$101,600
$48.85 an hour
74,220 jobs
Oregon
$101,000
$48.56 an hour
8370 jobs
District of Columbia
$100,150
$48.15 an hour
93,540 jobs
Kansas
$98,160
$47.19 an hour
103,230 jobs
Colorado
$97,840
$47.04 an hour
Why people trust JobPayFacts
Official government dataEvery number comes from the U.S. Bureau of Labor Statistics wage survey of employers, not self-reported salaries.
Every state and city830 jobs across all 50 states, D.C. and 199 large metro areas.
Updated every yearNew figures each spring when BLS releases them. This site uses May 2025 data.
Loan Officers pay, charted
Pay over time
United States, annual wage, May of each year
AverageMedian
Where the jobs are
Employment by state, May 2025
Average pay by state
May 2025 · tap a state
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Under $79k$79k–$86k$86k–$94k$94k+
Top-paying metro areas
Average pay, May 2025 (areas with 100+ jobs)
| Metro area | Avg. pay | Hourly |
|---|---|---|
| New York-Newark-Jersey City, NY-NJ | $121,180 | $58.26 |
| Boston-Cambridge-Newton, MA-NH | $120,300 | $57.84 |
| San Francisco-Oakland-Fremont, CA | $116,480 | $56.00 |
| Bridgeport-Stamford-Danbury, CT | $115,770 | $55.66 |
| Santa Maria-Santa Barbara, CA | $112,610 | $54.14 |
| Rochester, NY | $111,610 | $53.66 |
| Minneapolis-St. Paul-Bloomington, MN-WI | $110,870 | $53.30 |
| Barnstable Town, MA | $110,380 | $53.07 |
Related jobs
- Accountants and Auditors$94,750
- Financial and Investment Analysts$116,800
- Personal Financial Advisors$156,670
- Financial Specialists, All Other$93,810
- Insurance Underwriters$93,700
- Tax Preparers$60,930
Average U.S. pay, May 2025
Bureau of Labor Statistics OEWS
Loan Officers pay in every state
States without a figure had too few jobs or too little survey data for BLS to publish.
| State | Avg. pay | Median | Jobs |
|---|---|---|---|
| Alabama | $83,410 | $66,710 | 5,050 |
| Alaska | $73,300 | $72,800 | 490 |
| Arizona | $77,060 | $62,160 | 10,020 |
| Arkansas | $85,120 | $70,260 | 2,610 |
| California | $97,120 | $81,770 | 25,790 |
| Colorado | $97,840 | $94,520 | 3,230 |
| Connecticut | $101,710 | $95,730 | 2,220 |
| Delaware | $92,000 | $83,130 | 1,420 |
| District of Columbia | $100,150 | $92,890 | 370 |
| Florida | $81,320 | $71,090 | 18,830 |
| Georgia | $84,980 | $68,490 | 9,540 |
| Hawaii | $81,330 | $63,740 | 980 |
| Idaho | $90,160 | $71,070 | 2,030 |
| Illinois | $89,350 | $79,150 | 10,890 |
| Indiana | $78,980 | $72,960 | 4,790 |
| Iowa | $93,090 | $83,670 | 2,840 |
| Kansas | $98,160 | $86,970 | 3,540 |
| Kentucky | $74,870 | $62,090 | 3,940 |
| Louisiana | $73,240 | $61,110 | 2,810 |
| Maine | $88,830 | $81,900 | 1,060 |
| Maryland | $84,190 | $73,580 | 3,850 |
| Massachusetts | $118,390 | $101,600 | 4,470 |
| Michigan | $83,990 | $74,470 | 11,340 |
| Minnesota | $104,700 | $95,170 | 6,430 |
| Mississippi | $73,480 | $60,260 | 3,450 |
| Missouri | $82,180 | $73,660 | 7,050 |
| Montana | $77,390 | $71,570 | 1,180 |
| Nebraska | $89,530 | $79,840 | 2,710 |
| Nevada | $87,850 | $64,500 | 2,580 |
| New Hampshire | $97,080 | $80,660 | 1,120 |
| New Jersey | $102,890 | $92,920 | 6,200 |
| New Mexico | $75,410 | $62,610 | 1,140 |
| New York | $114,670 | $95,710 | 10,840 |
| North Carolina | $84,160 | $75,920 | 10,700 |
| North Dakota | $91,760 | $84,650 | 1,370 |
| Ohio | $83,960 | $76,370 | 9,880 |
| Oklahoma | $86,020 | $72,990 | 4,100 |
| Oregon | $101,000 | $94,440 | 4,220 |
| Pennsylvania | $80,450 | $69,300 | 8,140 |
| Rhode Island | $82,690 | $77,250 | 1,290 |
| South Carolina | $77,890 | $63,220 | 4,140 |
| South Dakota | $85,970 | $79,920 | 1,820 |
| Tennessee | $71,590 | $62,800 | 6,510 |
| Texas | $79,410 | $66,370 | 21,200 |
| Utah | $73,370 | $59,440 | 3,990 |
| Vermont | $101,600 | $88,710 | 350 |
| Virginia | $90,090 | $78,320 | 8,790 |
| Washington | $94,320 | $80,120 | 6,040 |
| West Virginia | $66,780 | $57,580 | 1,290 |
| Wisconsin | $89,090 | $78,290 | 4,940 |
| Wyoming | $87,930 | $79,620 | 740 |
Metro areas with the most jobs
New York-Newark-Jersey City, NY-NJ
$121,180
10,350 jobsLos Angeles-Long Beach-Anaheim, CA$94,540
9,690 jobsDallas-Fort Worth-Arlington, TX$80,100
8,370 jobsPhoenix-Mesa-Chandler, AZ$76,460
8,350 jobsChicago-Naperville-Elgin, IL-IN$91,650
7,380 jobsDetroit-Warren-Dearborn, MI$85,940
7,200 jobsAtlanta-Sandy Springs-Roswell, GA$90,990
5,550 jobsWashington-Arlington-Alexandria, DC-VA-MD-WV
$105,520
5,000 jobsQuestions and answers
How much do loan officers make?
The average is $87,790 a year across the U.S. Half earn more than $76,690 and half earn less (the median).
What is the hourly pay?
The average hourly wage is $42.21, and the median is $36.87 an hour.
Which state pays loan officers the most?
Massachusetts, with an average of $118,390 a year. The best-paying metro area is New York-Newark-Jersey City, NY-NJ at $121,180.
What is the pay range?
The lowest-paid 10% earn under $39,430 a year, and the top 10% earn over $153,180.
Sources and notes. U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS), May 2025 (trend: May 2020–May 2025), occupation code 13-2072. Wages are gross pay before taxes and don't include overtime premiums, tips, bonuses or benefits; self-employed workers aren't included. Year-to-year changes can partly reflect survey method changes, so treat the trend as a guide. How we use the data. JobPayFacts isn't affiliated with BLS.