SalariesWhat the occupation covers
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.
Official definition from the Standard Occupational Classification, code 13-2072.
The pay range
Pay differs a lot inside one occupation, with experience, employer and place. The table shows where the lines fall.
| Share of workers | A year | A month* | A week* | An hour |
|---|---|---|---|---|
| Lowest 10% earn less than | $39,430 | $3,286 | $758 | $18.96 |
| Lowest 25% earn less than | $52,730 | $4,394 | $1,014 | $25.35 |
| Median (half earn less, half more) | $76,690 | $6,391 | $1,475 | $36.87 |
| Top 25% earn more than | $104,080 | $8,673 | $2,002 | $50.04 |
| Top 10% earn more than | $153,180 | $12,765 | $2,946 | $73.65 |
* Month and week are the yearly figure divided by 12 and by 52, worked out here for convenience. BLS publishes the yearly and hourly figures.
How it compares
The median for all occupations in the United States was $50,980 a year. The median for Loan Officers is $76,690, which is 50% higher. Among the 32 occupations of the field Business and Financial Operations, it ranks number 23 by median pay. With 274,330 jobs, it makes up about 18 of every 10,000 jobs in the country. The average ($87,790) is well above the median, a sign that a smaller group of high earners pulls the average up.
Loan Officers pay by state
The highest median pay was in Massachusetts ($101,600), Connecticut ($95,730) and New York ($95,710). The lowest was in Puerto Rico ($35,730), Virgin Islands ($44,780) and Guam ($45,180). The most jobs were in California (25,790), Texas (21,200) and Florida (18,830). The occupation is most concentrated in South Dakota, where its share of all jobs is 2.3 times the national share.
No state matches.
| State | Jobs | Median a year | Average a year | Median an hour |
|---|---|---|---|---|
| Massachusetts | 4,470 | $101,600 | $118,390 | $48.85 |
| Connecticut | 2,220 | $95,730 | $101,710 | $46.03 |
| New York | 10,840 | $95,710 | $114,670 | $46.01 |
| Minnesota | 6,430 | $95,170 | $104,700 | $45.76 |
| Colorado | 3,230 | $94,520 | $97,840 | $45.44 |
| Oregon | 4,220 | $94,440 | $101,000 | $45.40 |
| New Jersey | 6,200 | $92,920 | $102,890 | $44.67 |
| District of Columbia | 370 | $92,890 | $100,150 | $44.66 |
| Vermont | 350 | $88,710 | $101,600 | $42.65 |
| Kansas | 3,540 | $86,970 | $98,160 | $41.81 |
| North Dakota | 1,370 | $84,650 | $91,760 | $40.70 |
| Iowa | 2,840 | $83,670 | $93,090 | $40.23 |
| Delaware | 1,420 | $83,130 | $92,000 | $39.97 |
| Maine | 1,060 | $81,900 | $88,830 | $39.38 |
| California | 25,790 | $81,770 | $97,120 | $39.31 |
| New Hampshire | 1,120 | $80,660 | $97,080 | $38.78 |
| Washington | 6,040 | $80,120 | $94,320 | $38.52 |
| South Dakota | 1,820 | $79,920 | $85,970 | $38.42 |
| Nebraska | 2,710 | $79,840 | $89,530 | $38.39 |
| Wyoming | 740 | $79,620 | $87,930 | $38.28 |
| Illinois | 10,890 | $79,150 | $89,350 | $38.05 |
| Virginia | 8,790 | $78,320 | $90,090 | $37.66 |
| Wisconsin | 4,940 | $78,290 | $89,090 | $37.64 |
| Rhode Island | 1,290 | $77,250 | $82,690 | $37.14 |
| Ohio | 9,880 | $76,370 | $83,960 | $36.71 |
| North Carolina | 10,700 | $75,920 | $84,160 | $36.50 |
| Michigan | 11,340 | $74,470 | $83,990 | $35.80 |
| Missouri | 7,050 | $73,660 | $82,180 | $35.41 |
| Maryland | 3,850 | $73,580 | $84,190 | $35.37 |
| Oklahoma | 4,100 | $72,990 | $86,020 | $35.09 |
| Indiana | 4,790 | $72,960 | $78,980 | $35.08 |
| Alaska | 490 | $72,800 | $73,300 | $35.00 |
| Montana | 1,180 | $71,570 | $77,390 | $34.41 |
| Florida | 18,830 | $71,090 | $81,320 | $34.18 |
| Idaho | 2,030 | $71,070 | $90,160 | $34.17 |
| Arkansas | 2,610 | $70,260 | $85,120 | $33.78 |
| Pennsylvania | 8,140 | $69,300 | $80,450 | $33.32 |
| Georgia | 9,540 | $68,490 | $84,980 | $32.93 |
| Alabama | 5,050 | $66,710 | $83,410 | $32.07 |
| Texas | 21,200 | $66,370 | $79,410 | $31.91 |
| Nevada | 2,580 | $64,500 | $87,850 | $31.01 |
| Hawaii | 980 | $63,740 | $81,330 | $30.65 |
| South Carolina | 4,140 | $63,220 | $77,890 | $30.39 |
| Tennessee | 6,510 | $62,800 | $71,590 | $30.19 |
| New Mexico | 1,140 | $62,610 | $75,410 | $30.10 |
| Arizona | 10,020 | $62,160 | $77,060 | $29.88 |
| Kentucky | 3,940 | $62,090 | $74,870 | $29.85 |
| Louisiana | 2,810 | $61,110 | $73,240 | $29.38 |
| Mississippi | 3,450 | $60,260 | $73,480 | $28.97 |
| Utah | 3,990 | $59,440 | $73,370 | $28.58 |
| West Virginia | 1,290 | $57,580 | $66,780 | $27.68 |
| Guam | 60 | $45,180 | $52,800 | $21.72 |
| Virgin Islands | 50 | $44,780 | $54,550 | $21.53 |
| Puerto Rico | 2,360 | $35,730 | $41,490 | $17.18 |
Sorted by median pay, highest first. "Not published" means BLS did not release that figure for the state, usually because too few employers were surveyed. "$239,200 or more" is the highest value BLS reports in the state tables.
Similar occupations by pay
- Compensation, Benefits, and Job Analysis Specialists$78,210 a year
- Claims Adjusters, Examiners, and Investigators$78,000 a year
- Buyers and Purchasing Agents$77,710 a year
- Human Resources Specialists$75,940 a year
- Fundraisers$72,550 a year
- Training and Development Specialists$69,280 a year
Common questions
How much do Loan Officers earn in the United States?
The median pay was $76,690 a year in May 2025, according to the U.S. Bureau of Labor Statistics. The lowest-paid 10% earned less than $39,430 and the highest-paid 10% more than $153,180.
How many people work as Loan Officers?
About 274,330 jobs in the United States in May 2025, not counting the self-employed.
Source: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics, May 2025. Checked in November 2026. Figures are for employees, before tax, and leave out overtime pay and benefits. They are official statistics, not advice or a pay offer; see bls.gov/oes for the original tables.