Department of Labor Logo United States Department of Labor
Dot gov

The .gov means it's official.
Federal government websites often end in .gov or .mil. Before sharing sensitive information, make sure you're on a federal government site.

Https

The site is secure.
The https:// ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely.

Occupational Employment and Wage Statistics

Occupational Employment and Wages, May 2020

13-2072 Loan Officers

Evaluate, authorize, or recommend approval of commercial, real estate, or credit loans. Advise borrowers on financial status and payment methods. Includes mortgage loan officers and agents, collection analysts, loan servicing officers, loan underwriters, and payday loan officers.


National estimates for Loan Officers
Industry profile for Loan Officers
Geographic profile for Loan Officers

National estimates for Loan Officers:

Employment estimate and mean wage estimates for Loan Officers:

Employment (1) Employment
RSE (3)
Mean hourly
wage
Mean annual
wage (2)
Wage RSE (3)
308,700 1.2 % $ 36.99 $ 76,930 0.7 %

Percentile wage estimates for Loan Officers:

Percentile 10% 25% 50%
(Median)
75% 90%
Hourly Wage $ 16.18 $ 21.89 $ 30.75 $ 44.95 $ 64.35
Annual Wage (2) $ 33,650 $ 45,540 $ 63,960 $ 93,490 $ 133,850


Industry profile for Loan Officers:

Industries with the highest published employment and wages for Loan Officers are provided. For a list of all industries with employment in Loan Officers, see the Create Customized Tables function.

Industries with the highest levels of employment in Loan Officers:

Industry Employment (1) Percent of industry employment Hourly mean wage Annual mean wage (2)
Credit Intermediation and Related Activities (5221 and 5223 only) 173,590 8.55 $ 36.74 $ 76,420
Nondepository Credit Intermediation 85,040 14.72 $ 36.23 $ 75,360
Management of Companies and Enterprises 14,260 0.59 $ 37.75 $ 78,530
Automobile Dealers 10,650 0.89 $ 47.13 $ 98,020
Federal Executive Branch (OEWS Designation) 4,560 0.22 $ 35.17 $ 73,160

Industries with the highest concentration of employment in Loan Officers:

Industry Employment (1) Percent of industry employment Hourly mean wage Annual mean wage (2)
Nondepository Credit Intermediation 85,040 14.72 $ 36.23 $ 75,360
Credit Intermediation and Related Activities (5221 and 5223 only) 173,590 8.55 $ 36.74 $ 76,420
Automobile Dealers 10,650 0.89 $ 47.13 $ 98,020
Management of Companies and Enterprises 14,260 0.59 $ 37.75 $ 78,530
Monetary Authorities-Central Bank 90 0.46 (8) (8)

Top paying industries for Loan Officers:

Industry Employment (1) Percent of industry employment Hourly mean wage Annual mean wage (2)
Automobile Dealers 10,650 0.89 $ 47.13 $ 98,020
Other Motor Vehicle Dealers 320 0.21 $ 45.13 $ 93,860
Securities, Commodity Contracts, and Other Financial Investments and Related Activities 3,060 0.32 $ 44.67 $ 92,910
Data Processing, Hosting, and Related Services 180 0.05 $ 43.03 $ 89,510
Real Estate 3,180 0.19 $ 42.87 $ 89,160


Geographic profile for Loan Officers:

States and areas with the highest published employment, location quotients, and wages for Loan Officers are provided. For a list of all areas with employment in Loan Officers, see the Create Customized Tables function.





States with the highest employment level in Loan Officers:

State Employment (1) Employment per thousand jobs Location quotient (9) Hourly mean wage Annual mean wage (2)
California 34,710 2.11 0.95 $ 37.61 $ 78,220
Texas 23,590 1.95 0.88 $ 39.49 $ 82,130
Florida 16,980 2.01 0.91 $ 36.57 $ 76,060
North Carolina 12,980 3.03 1.36 $ 38.70 $ 80,490
New York 12,560 1.45 0.65 $ 50.19 $ 104,400




States with the highest concentration of jobs and location quotients in Loan Officers:

State Employment (1) Employment per thousand jobs Location quotient (9) Hourly mean wage Annual mean wage (2)
South Dakota 2,010 4.90 2.21 $ 33.72 $ 70,140
Utah 7,020 4.71 2.12 $ 27.59 $ 57,380
Arizona 9,650 3.40 1.53 $ 29.32 $ 60,980
North Dakota 1,330 3.31 1.49 $ 38.57 $ 80,230
Minnesota 8,760 3.23 1.46 $ 38.34 $ 79,740




Top paying states for Loan Officers:

State Employment (1) Employment per thousand jobs Location quotient (9) Hourly mean wage Annual mean wage (2)
New York 12,560 1.45 0.65 $ 50.19 $ 104,400
Maryland 5,040 2.00 0.90 $ 44.26 $ 92,060
Hawaii 1,280 2.22 1.00 $ 44.17 $ 91,880
Georgia 10,830 2.51 1.13 $ 41.44 $ 86,200
Missouri 7,610 2.83 1.27 $ 39.84 $ 82,880





Metropolitan areas with the highest employment level in Loan Officers:

Metropolitan area Employment (1) Employment per thousand jobs Location quotient (9) Hourly mean wage Annual mean wage (2)
Los Angeles-Long Beach-Anaheim, CA 15,550 2.67 1.20 $ 35.78 $ 74,430
New York-Newark-Jersey City, NY-NJ-PA 12,090 1.37 0.62 $ 51.91 $ 107,970
Chicago-Naperville-Elgin, IL-IN-WI 9,210 2.11 0.95 $ 34.86 $ 72,510
Dallas-Fort Worth-Arlington, TX 8,670 2.42 1.09 $ 41.97 $ 87,300
Phoenix-Mesa-Scottsdale, AZ 8,650 4.10 1.85 $ 28.31 $ 58,890
Detroit-Warren-Dearborn, MI 7,270 4.09 1.84 $ 40.68 $ 84,620
Atlanta-Sandy Springs-Roswell, GA 6,860 2.61 1.17 $ 46.44 $ 96,590
Washington-Arlington-Alexandria, DC-VA-MD-WV 6,630 2.19 0.99 $ 41.80 $ 86,940
Minneapolis-St. Paul-Bloomington, MN-WI 6,100 3.30 1.49 $ 39.71 $ 82,600
Charlotte-Concord-Gastonia, NC-SC 5,680 4.69 2.11 $ 40.15 $ 83,510




Metropolitan areas with the highest concentration of jobs and location quotients in Loan Officers:

Metropolitan area Employment (1) Employment per thousand jobs Location quotient (9) Hourly mean wage Annual mean wage (2)
Pocatello, ID 320 9.61 4.33 $ 26.11 $ 54,320
Owensboro, KY 350 7.38 3.32 $ 28.78 $ 59,850
Salt Lake City, UT 4,900 6.76 3.05 $ 26.04 $ 54,150
Sioux Falls, SD 910 5.94 2.67 $ 33.24 $ 69,150
La Crosse-Onalaska, WI-MN 340 4.77 2.15 $ 30.79 $ 64,050
Charlotte-Concord-Gastonia, NC-SC 5,680 4.69 2.11 $ 40.15 $ 83,510
Twin Falls, ID 210 4.66 2.10 $ 30.92 $ 64,310
Lewiston-Auburn, ME 220 4.59 2.07 $ 32.14 $ 66,850
St. Cloud, MN 450 4.54 2.05 $ 32.44 $ 67,470
Oxnard-Thousand Oaks-Ventura, CA 1,270 4.25 1.92 $ 36.71 $ 76,360




Top paying metropolitan areas for Loan Officers:

Metropolitan area Employment (1) Employment per thousand jobs Location quotient (9) Hourly mean wage Annual mean wage (2)
Eau Claire, WI 210 2.61 1.18 $ 62.45 $ 129,900
Stockton-Lodi, CA 460 1.84 0.83 $ 58.22 $ 121,100
Tyler, TX 210 2.10 0.95 $ 55.14 $ 114,690
New York-Newark-Jersey City, NY-NJ-PA 12,090 1.37 0.62 $ 51.91 $ 107,970
Kingston, NY 70 1.27 0.57 $ 49.89 $ 103,760
New Bedford, MA 70 1.21 0.55 $ 49.83 $ 103,640
Hanford-Corcoran, CA 50 1.16 0.52 $ 48.29 $ 100,440
Champaign-Urbana, IL 210 2.21 0.99 $ 47.86 $ 99,540
St. George, UT 290 4.18 1.88 $ 47.52 $ 98,840
Bismarck, ND 250 3.67 1.65 $ 47.13 $ 98,030

Nonmetropolitan areas with the highest employment in Loan Officers:

Nonmetropolitan area Employment (1) Employment per thousand jobs Location quotient (9) Hourly mean wage Annual mean wage (2)
Kansas nonmetropolitan area 1,660 4.38 1.97 $ 28.60 $ 59,490
Southeast Coastal North Carolina nonmetropolitan area 600 2.49 1.12 $ 31.67 $ 65,870
South Georgia nonmetropolitan area 600 3.23 1.46 $ 29.55 $ 61,460
North Texas Region of Texas nonmetropolitan area 600 2.21 1.00 $ 33.74 $ 70,180
South Nebraska nonmetropolitan area 570 3.95 1.78 $ 32.63 $ 67,860

Nonmetropolitan areas with the highest concentration of jobs and location quotients in Loan Officers:

Nonmetropolitan area Employment (1) Employment per thousand jobs Location quotient (9) Hourly mean wage Annual mean wage (2)
West South Dakota nonmetropolitan area 280 4.90 2.21 $ 32.32 $ 67,230
Northeast Nebraska nonmetropolitan area 410 4.55 2.05 $ 32.98 $ 68,600
Kansas nonmetropolitan area 1,660 4.38 1.97 $ 28.60 $ 59,490
Northeast Louisiana nonmetropolitan area 270 4.37 1.97 $ 33.09 $ 68,820
East South Dakota nonmetropolitan area 540 4.26 1.92 $ 33.39 $ 69,460

Top paying nonmetropolitan areas for Loan Officers:

Nonmetropolitan area Employment (1) Employment per thousand jobs Location quotient (9) Hourly mean wage Annual mean wage (2)
Massachusetts nonmetropolitan area 100 1.81 0.82 $ 55.86 $ 116,190
Eastern Oregon nonmetropolitan area 130 1.89 0.85 $ 47.64 $ 99,090
Hawaii / Kauai nonmetropolitan area 200 2.13 0.96 $ 45.55 $ 94,740
Arizona nonmetropolitan area 50 0.58 0.26 $ 44.91 $ 93,410
Western Wyoming nonmetropolitan area 330 3.49 1.57 $ 40.44 $ 84,120


About May 2020 National, State, Metropolitan, and Nonmetropolitan Area Occupational Employment and Wage Estimates

These estimates are calculated with data collected from employers in all industry sectors, all metropolitan and nonmetropolitan areas, and all states and the District of Columbia. The top employment and wage figures are provided above. The complete list is available in the downloadable XLS files.

The percentile wage estimate is the value of a wage below which a certain percent of workers fall. The median wage is the 50th percentile wage estimate—50 percent of workers earn less than the median and 50 percent of workers earn more than the median. More about percentile wages.


(1) Estimates for detailed occupations do not sum to the totals because the totals include occupations not shown separately. Estimates do not include self-employed workers.

(2) Annual wages have been calculated by multiplying the hourly mean wage by a "year-round, full-time" hours figure of 2,080 hours; for those occupations where there is not an hourly wage published, the annual wage has been directly calculated from the reported survey data.

(3) The relative standard error (RSE) is a measure of the reliability of a survey statistic. The smaller the relative standard error, the more precise the estimate.

(8) Estimate not released.

(9) The location quotient is the ratio of the area concentration of occupational employment to the national average concentration. A location quotient greater than one indicates the occupation has a higher share of employment than average, and a location quotient less than one indicates the occupation is less prevalent in the area than average.


Other OEWS estimates and related information:

May 2020 National Occupational Employment and Wage Estimates

May 2020 State Occupational Employment and Wage Estimates

May 2020 Metropolitan and Nonmetropolitan Area Occupational Employment and Wage Estimates

May 2020 National Industry-Specific Occupational Employment and Wage Estimates

May 2020 Occupation Profiles

Technical Notes

 

Last Modified Date: March 31, 2021