|Federal Executive Branch||$69,070|
|Management of companies and enterprises||58,100|
|Nondepository credit intermediation||54,240|
|Activities related to credit intermediation||54,140|
|Depository credit intermediation||53,490|
The form of compensation for loan officers varies. Most are paid a commission based on the number of loans they originate. Some institutions pay only salaries, while others pay their loan officers a salary plus a commission or bonus based on the number of loans or the performance of the loans that they originated. Loan officers who are paid on commission usually earn more than those who earn only a salary, and those who work for smaller banks generally earn less than those employed by larger institutions.
Earnings often fluctuate with the number of loans generated, rising substantially when the economy is strong and interest rates are low.
Source: Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, 2010-11 Edition