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Loan Officer Earnings

Median annual wages of wage and salary loan officers were $54,700 in May 2008. The middle 50 percent earned between $39,710 and $76,860. The lowest 10 percent earned less than $30,850, while the top 10 percent earned more than $106,360. Median annual wages in the industries employing the largest numbers of loan officers were as follows:

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

for State specific information, visit  Job Outlook by State

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Special Features:   Banks in the USA   Credit Unions in the USA   Special Districts in the USA   School Districts in the USA  

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Use of this website is expressly subject to the various terms and conditions set forth in our

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Other Proquantum sites:
Engineers Guide USA    Health Guide USA
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