Annual Salary, Salary Range, and Highest Paying States.
One of the most popular questions we get from our readers here is how much do Loan Officers make per year and their hourly wage.
Entry-level Loan Officers with little to no experience can expect to make anywhere between $31870 to $44500 per year or $15 to $21 per hour.
Just like any other job, the salary of a Loan Officer will increase as they become more experienced.
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We wanted to make it easy for our readers to compare the salary of a Loan Officer to all the other careers out there. So we created Salary Rank. We compare the salary of all careers then we give them a rank of A, B, C or D depending on where their average salary sits in comparison to other careers.
After comparing how much do Loan Officers make with other careers, they have a salary rank of B.
|Highest (Top 10%)||$64||$132080|
|Senior (Top 25%)||$44||$92240|
|Middle (Mid 50%)||$30||$63040|
|Junior (Bottom 25%)||$21||$44500|
|No experience (Bottom 10%)||$15||$31870|
Highest paying states
|NY||$ 50||$ 103,450|
|DC||$ 46||$ 95,000|
|MA||$ 45||$ 94,540|
|CT||$ 44||$ 91,730|
|NH||$ 44||$ 90,500|
|NJ||$ 41||$ 85,540|
|KS||$ 41||$ 84,320|
|MD||$ 41||$ 84,240|
|TX||$ 40||$ 83,910|
|NE||$ 39||$ 81,740|
Another simple way to increase your salary as a Loan Officer is to move to a higher paying state. However moving to a higher paying state like NY doesn’t guarantee that you will make more because the expenses at NY might be much higher than where you are currently living at right now.
According to BLS, the highest paid Loan Officers are in the states of NY, DC, MA, CT and NH.
appraise real and personal property to determine its fair value. May assess taxes in accordance with prescribed schedules.
enforce or ensure compliance with laws and regulations governing financial and securities institutions and financial and real estate transactions. May examine, verify, or authenticate records.
purchase machinery, equipment, tools, parts, supplies, or services necessary for the operation of an establishment. Purchase raw or semi-finished materials for manufacturing.
coordinate activities of staff, convention personnel, or clients to make arrangements for group meetings, events, or conventions.
prepare customs documentation and ensure that shipments meet all applicable laws to facilitate the import and export of goods. Determine and track duties and taxes payable and process payments on behalf of client. Sign documents under a power of attorney. Represent clients in meetings with customs officials and apply for duty refunds and tariff reclassifications. Coordinate transportation and storage of imported goods.
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