Salary for Loan Officers

Also known as:  Branch Lending Officer, Commercial Lender, Loan Analyst, Loan Officer, Loan Reviewer, Real Estate Loan Officer helps finance professionals find better paying jobs across all specialties and locations.

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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 expect salaries in a range of 48000 to 72000 based on tenure level. Loan Officers earn an average compensation of Sixty Five Thousand Nine Hundred dollars yearly.

Loan Officers make the highest salary in New York, where they earn normal pay levels of close to $77310. People in this career group have the best average compensation in Retail Trade, which has pay of $76530.

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The national wage distribution is shown below. To overlay local salaries for a Loan Officer, please select your state.
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The annual compensation for this career has gone up since 2004. Salaries have increased by an average of 13.14 percent nationwide in that time.
Loan Officers tend to make the most in the following industries
Construction $76,530
Retail Trade $74,580
Management of Companies and Enterprises $71,740
Information $71,110
Real Estate and Rental and Leasing $70,560
Public Administration $69,330
In general, they earn less within the industries below
Educational Services $50,020
Health Care and Social Assistance $54,590
Transportation and Warehousing $54,940
Professional, Scientific, and Technical Services $61,500
Administrative, Support and Waste Management Services $63,670
Finance and Insurance $65,590