Loan Officers Salary in the United States
The median annual wage for loan officers is $76,690, or $36.87 per hour. About 274,330 people work in this occupation nationwide. Wages vary substantially by state — from $101,600 in Massachusetts to $57,580 in West Virginia.
Wage distribution nationwide
Earnings spread across all U.S. workers in this occupation.
Salary by state
All 51 states with published data, ranked by median annual wage.
| # | State | Median annual | Median hourly | Employment | Location quotient |
|---|---|---|---|---|---|
| 1 | Massachusetts | $101,600 | $48.85 | 4,470 | 0.70 |
| 2 | Connecticut | $95,730 | $46.03 | 2,220 | 0.74 |
| 3 | New York | $95,710 | $46.01 | 10,840 | 0.63 |
| 4 | Minnesota | $95,170 | $45.76 | 6,430 | 1.24 |
| 5 | Colorado | $94,520 | $45.44 | 3,230 | 0.64 |
| 6 | Oregon | $94,440 | $45.40 | 4,220 | 1.22 |
| 7 | New Jersey | $92,920 | $44.67 | 6,200 | 0.82 |
| 8 | District of Columbia | $92,890 | $44.66 | 370 | 0.30 |
| 9 | Vermont | $88,710 | $42.65 | 350 | 0.64 |
| 10 | Kansas | $86,970 | $41.81 | 3,540 | 1.40 |
| 11 | North Dakota | $84,650 | $40.70 | 1,370 | 1.81 |
| 12 | Iowa | $83,670 | $40.23 | 2,840 | 1.03 |
| 13 | Delaware | $83,130 | $39.97 | 1,420 | 1.66 |
| 14 | Maine | $81,900 | $39.38 | 1,060 | 0.93 |
| 15 | California | $81,770 | $39.31 | 25,790 | 0.80 |
| 16 | New Hampshire | $80,660 | $38.78 | 1,120 | 0.93 |
| 17 | Washington | $80,120 | $38.52 | 6,040 | 0.96 |
| 18 | South Dakota | $79,920 | $38.42 | 1,820 | 2.26 |
| 19 | Nebraska | $79,840 | $38.39 | 2,710 | 1.50 |
| 20 | Wyoming | $79,620 | $38.28 | 740 | 1.50 |
| 21 | Illinois | $79,150 | $38.05 | 10,890 | 1.01 |
| 22 | Virginia | $78,320 | $37.66 | 8,790 | 1.21 |
| 23 | Wisconsin | $78,290 | $37.64 | 4,940 | 0.95 |
| 24 | Rhode Island | $77,250 | $37.14 | 1,290 | 1.45 |
| 25 | Ohio | $76,370 | $36.71 | 9,880 | 1.01 |
| 26 | North Carolina | $75,920 | $36.50 | 10,700 | 1.23 |
| 27 | Michigan | $74,470 | $35.80 | 11,340 | 1.46 |
| 28 | Missouri | $73,660 | $35.41 | 7,050 | 1.36 |
| 29 | Maryland | $73,580 | $35.37 | 3,850 | 0.79 |
| 30 | Oklahoma | $72,990 | $35.09 | 4,100 | 1.36 |
| 31 | Indiana | $72,960 | $35.08 | 4,790 | 0.85 |
| 32 | Alaska | $72,800 | $35.00 | 490 | 0.86 |
| 33 | Montana | $71,570 | $34.41 | 1,180 | 1.31 |
| 34 | Florida | $71,090 | $34.18 | 18,830 | 1.07 |
| 35 | Idaho | $71,070 | $34.17 | 2,030 | 1.34 |
| 36 | Arkansas | $70,260 | $33.78 | 2,610 | 1.14 |
| 37 | Pennsylvania | $69,300 | $33.32 | 8,140 | 0.76 |
| 38 | Georgia | $68,490 | $32.93 | 9,540 | 1.11 |
| 39 | Alabama | $66,710 | $32.07 | 5,050 | 1.35 |
| 40 | Texas | $66,370 | $31.91 | 21,200 | 0.85 |
| 41 | Nevada | $64,500 | $31.01 | 2,580 | 0.94 |
| 42 | Hawaii | $63,740 | $30.65 | 980 | 0.88 |
| 43 | South Carolina | $63,220 | $30.39 | 4,140 | 1.02 |
| 44 | Tennessee | $62,800 | $30.19 | 6,510 | 1.13 |
| 45 | New Mexico | $62,610 | $30.10 | 1,140 | 0.74 |
| 46 | Arizona | $62,160 | $29.88 | 10,020 | 1.75 |
| 47 | Kentucky | $62,090 | $29.85 | 3,940 | 1.12 |
| 48 | Louisiana | $61,110 | $29.38 | 2,810 | 0.82 |
| 49 | Mississippi | $60,260 | $28.97 | 3,450 | 1.68 |
| 50 | Utah | $59,440 | $28.58 | 3,990 | 1.30 |
| 51 | West Virginia | $57,580 | $27.68 | 1,290 | 1.04 |
Related occupations
Same job family, ranked by national employment.
Frequently asked questions
How much do loan officers make?
The median annual wage for loan officers in the United States is $76,690, or $36.87 per hour. Entry-level workers (10th percentile) earn $39,430, and the top 10% earn $153,180.
How many loan officers are employed in the U.S.?
About 274,330 people work as loan officers nationwide.
Which state pays loan officers the most?
Massachusetts pays the most at a median of $101,600, followed by Connecticut ($95,730) and New York ($95,710).
Which state pays loan officers the least?
West Virginia has the lowest median at $57,580.
Where are loan officers jobs most concentrated?
The location quotient measures employment concentration relative to the national average. The highest is South Dakota at 2.26×.