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Occupational Employment and Wage Statistics

Occupational Employment and Wages, May 2022

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)
345,550 1.4 % $ 40.46 $ 84,160 1.0 %

Percentile wage estimates for Loan Officers:

Percentile 10% 25% 50%
(Median)
75% 90%
Hourly Wage $ 16.79 $ 23.02 $ 31.60 $ 47.69 $ 66.63
Annual Wage (2) $ 34,920 $ 47,890 $ 65,740 $ 99,200 $ 138,580


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) 172,200 8.51 $ 40.96 $ 85,190
Nondepository Credit Intermediation 115,240 18.68 $ 38.39 $ 79,860
Management of Companies and Enterprises 13,910 0.52 $ 41.80 $ 86,940
Automobile Dealers 11,020 0.88 $ 54.64 $ 113,640
Securities, Commodity Contracts, and Other Financial Investments and Related Activities 5,970 0.59 $ 54.86 $ 114,100

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 115,240 18.68 $ 38.39 $ 79,860
Credit Intermediation and Related Activities (5221 and 5223 only) 172,200 8.51 $ 40.96 $ 85,190
Other Investment Pools and Funds 340 1.98 $ 45.79 $ 95,250
Monetary Authorities-Central Bank 220 1.02 $ 51.89 $ 107,940
Automobile Dealers 11,020 0.88 $ 54.64 $ 113,640

Top paying industries for Loan Officers:

Industry Employment (1) Percent of industry employment Hourly mean wage Annual mean wage (2)
Securities, Commodity Contracts, and Other Financial Investments and Related Activities 5,970 0.59 $ 54.86 $ 114,100
Other Motor Vehicle Dealers 650 0.37 $ 54.74 $ 113,860
Automobile Dealers 11,020 0.88 $ 54.64 $ 113,640
Land Subdivision (8) (8) $ 53.56 $ 111,400
Monetary Authorities-Central Bank 220 1.02 $ 51.89 $ 107,940


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.



Map of employment of loan officers by state, May 2022


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 38,380 2.18 0.93 $ 40.51 $ 84,250
Texas 28,560 2.20 0.94 $ 37.09 $ 77,140
Florida 26,910 2.92 1.25 $ 34.51 $ 71,790
Arizona 14,650 4.83 2.07 $ 33.74 $ 70,170
North Carolina 13,880 2.99 1.28 $ 40.65 $ 84,550


Map of location quotient of loan officers by state, May 2022


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)
Arizona 14,650 4.83 2.07 $ 33.74 $ 70,170
South Dakota 1,890 4.35 1.86 $ 37.78 $ 78,580
Missouri 10,700 3.79 1.62 $ 40.48 $ 84,190
Rhode Island 1,720 3.58 1.53 (8) (8)
Idaho 2,760 3.46 1.48 $ 32.53 $ 67,670


Map of annual mean wages of loan officers by state, May 2022


Top paying states for Loan Officers:

State Employment (1) Employment per thousand jobs Location quotient (9) Hourly mean wage Annual mean wage (2)
District of Columbia 580 0.84 0.36 $ 67.88 $ 141,180
Georgia 10,280 2.23 0.95 $ 56.47 $ 117,460
Michigan 13,140 3.09 1.32 $ 53.40 $ 111,070
New York 13,850 1.52 0.65 $ 50.41 $ 104,850
Nevada 2,720 1.93 0.83 $ 48.78 $ 101,470



Map of employment of loan officers by area, May 2022


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 16,010 2.62 1.12 $ 38.23 $ 79,520
New York-Newark-Jersey City, NY-NJ-PA 13,170 1.43 0.61 $ 52.33 $ 108,840
Phoenix-Mesa-Scottsdale, AZ 12,590 5.67 2.43 $ 33.67 $ 70,030
Dallas-Fort Worth-Arlington, TX 10,690 2.81 1.20 $ 38.79 $ 80,670
Chicago-Naperville-Elgin, IL-IN-WI 8,620 1.95 0.84 $ 43.73 $ 90,960
Detroit-Warren-Dearborn, MI 8,290 4.44 1.90 $ 59.35 $ 123,450
Washington-Arlington-Alexandria, DC-VA-MD-WV 6,550 2.17 0.93 $ 51.18 $ 106,450
Charlotte-Concord-Gastonia, NC-SC 6,340 4.99 2.14 $ 42.51 $ 88,430
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD 6,290 2.27 0.97 $ 41.94 $ 87,240
Tampa-St. Petersburg-Clearwater, FL 6,140 4.50 1.93 $ 36.32 $ 75,540


Map of location quotient of loan officers by area, May 2022


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 310 8.64 3.70 $ 28.13 $ 58,500
Pensacola-Ferry Pass-Brent, FL 1,100 6.07 2.60 $ 27.53 $ 57,260
Phoenix-Mesa-Scottsdale, AZ 12,590 5.67 2.43 $ 33.67 $ 70,030
Sioux Falls, SD 860 5.35 2.29 $ 38.27 $ 79,600
Hattiesburg, MS 320 5.12 2.19 $ 26.26 $ 54,610
Charlotte-Concord-Gastonia, NC-SC 6,340 4.99 2.14 $ 42.51 $ 88,430
Oxnard-Thousand Oaks-Ventura, CA 1,500 4.78 2.05 $ 30.11 $ 62,640
Owensboro, KY 240 4.67 2.00 $ 33.86 $ 70,420
Panama City, FL 380 4.67 2.00 $ 26.53 $ 55,180
Winchester, VA-WV 290 4.53 1.94 $ 38.31 $ 79,690


Map of annual mean wages of loan officers by area, May 2022


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)
Atlanta-Sandy Springs-Roswell, GA 6,140 2.25 0.96 $ 62.30 $ 129,580
Boulder, CO 200 1.06 0.45 $ 59.95 $ 124,700
Detroit-Warren-Dearborn, MI 8,290 4.44 1.90 $ 59.35 $ 123,450
Savannah, GA 270 1.44 0.61 $ 58.63 $ 121,950
Kennewick-Richland, WA 280 2.32 0.99 $ 57.94 $ 120,520
Ann Arbor, MI 440 2.07 0.89 $ 57.90 $ 120,430
Bay City, MI 100 2.96 1.27 $ 55.44 $ 115,320
Wilmington, NC 470 3.47 1.48 $ 53.22 $ 110,690
New York-Newark-Jersey City, NY-NJ-PA 13,170 1.43 0.61 $ 52.33 $ 108,840
Durham-Chapel Hill, NC 510 1.54 0.66 $ 51.98 $ 108,110

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 1,580 4.12 1.76 $ 39.26 $ 81,660
South Nebraska nonmetropolitan area 640 4.40 1.88 $ 36.68 $ 76,290
Northeast Mississippi nonmetropolitan area 540 2.38 1.02 $ 29.99 $ 62,370
North Northeastern Ohio nonmetropolitan area (noncontiguous) 520 1.62 0.70 $ 34.58 $ 71,920
North Texas Region of Texas nonmetropolitan area 510 1.88 0.80 $ 32.52 $ 67,640

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)
Northeast Nebraska nonmetropolitan area 480 5.17 2.21 $ 40.36 $ 83,950
East North Dakota nonmetropolitan area 270 4.45 1.91 $ 37.53 $ 78,060
South Nebraska nonmetropolitan area 640 4.40 1.88 $ 36.68 $ 76,290
Northwest Nebraska nonmetropolitan area 160 4.25 1.82 $ 39.26 $ 81,660
Kansas nonmetropolitan area 1,580 4.12 1.76 $ 39.26 $ 81,660

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)
Central Oregon nonmetropolitan area 80 1.19 0.51 $ 50.95 $ 105,980
Southwest Colorado nonmetropolitan area 130 1.28 0.55 $ 50.41 $ 104,850
Eastern Sierra-Mother Lode Region of California nonmetropolitan area 30 0.53 0.23 $ 49.77 $ 103,530
Eastern Washington nonmetropolitan area 80 0.78 0.33 $ 49.37 $ 102,690
Eastern Oregon nonmetropolitan area 110 1.51 0.64 $ 48.94 $ 101,790


About May 2022 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 2022 National Occupational Employment and Wage Estimates

May 2022 State Occupational Employment and Wage Estimates

May 2022 Metropolitan and Nonmetropolitan Area Occupational Employment and Wage Estimates

May 2022 National Industry-Specific Occupational Employment and Wage Estimates

May 2022 Occupation Profiles

Technical Notes

 

Last Modified Date: April 25, 2023