Salary for Loan Officers

Also known as:  Branch Lending Officer, Commercial Lender, Loan Analyst, Loan Officer, Loan Reviewer, Real Estate Loan Officer

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Loan officers educate potential borrowers about the different types of loans available to them and the requirements and regulations governing these loans. They determine borrower eligibility based on credit history, financial status and property evaluations. These professionals frequently review and update borrower credit information and handle customer complaints when necessary. They must stay informed regarding innovations in the industry in order to anticipate and better meet their client's needs. Educational requirements for this position include a high school diploma or equivalent and several years of experience working in the banking and lending industries.

A Loan Officer can get salaries in a range of $33,650 to $133,850 depending on tenure and industry expertise. will normally receive an average salary of seventy-six thousand nine hundred and thirty dollars per year.

are compensated highest in New York, where they can earn average pay scales of close to $104,400. People in this category of job can expect the highest salaries in Retail Trade, which has an average salary rate of $97,830.

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The national wage distribution is shown below. To overlay local salaries for a Loan Officer, please select your state.
Annual salary
Hourly rate
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SALARY TREND

The annual compensation for this career has gone up since 2004. Salaries have increased by an average of 32.42 percent nationwide in that time.

INDUSTRIES

Loan Officers tend to make the most in the following industries:

Retail Trade
$97,830
Wholesale Trade
$91,980
Information
$88,470
Real Estate and Rental and Leasing
$87,360
Manufacturing
$85,660
Management of Companies and Enterprises
$78,530

In general, they earn less within the industries below:

Health Care and Social Assistance
$53,800
Educational Services
$56,610
Administrative, Support and Waste Management Services
$63,450
Other Services (except Public Administration)
$68,360
Professional, Scientific, and Technical Services
$69,820
Public Administration
$72,530