How much does a Loan Officer make?
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$147,731
/ yrThe estimated total pay for a Loan Officer is $147,731 per year in the United States area, with an average salary of $92,738 per year. These numbers represent the median, which is the midpoint of the ranges from our proprietary Total Pay Estimate model and based on salaries collected from our users. The estimated additional pay is $54,993 per year. Additional pay could include cash bonus, commission, tips, and profit sharing. The "Most Likely Range" represents values that exist within the 25th and 75th percentile of all pay data available for this role.
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For Loan Officer
Download as data table
What is the total pay trajectory for Loan Officer?
| Job Title | Salary |
|---|---|
| Loan Officer | $147,731 /yr |
| Senior Loan Officer | $190,537 /yr |
| Lead Loan Officer | $116,101 /yr |
Related Job Titles
For Loan Officer
Some related job titles are Commercial Loan Officer Salaries with median pay of $202,974, Financial Advisor Salaries with median pay of $159,394, Mortgagr Loan Originator Salaries with median pay of $188,533, Sales Salaries with median pay of $130,853.
Top Paying Companies
For a Loan Officer in United States
Below is the total pay for the top 10 highest paying companies for a Loan Officer in United States. Employers include OppFi, Obsidian Financial Services and Shinhan Financial Group.
Top Paying Companies
For Loan Officer in United States
| 1 | OppFi | $242,801 | |
| 2 | Obsidian Financial Services | $233,959 | |
| 3 | Shinhan Financial Group | $201,029 | |
| 4 | GoodLeap | $197,911 | |
| 5 | Quicken | $193,644 | |
| 6 | AgSouth Farm Credit | $187,172 | |
| 7 | Foundation Financial Group | $186,299 | |
| 8 | Cascade Financial Services | $180,775 | |
| 9 | Citi | $179,572 | |
| 10 | Truist | $177,113 |
For Loan Officer
Download as data table
What is the total pay trajectory for Loan Officer?
| Job Title | Salary |
|---|---|
| Loan Officer | $147,731 /yr |
| Senior Loan Officer | $190,537 /yr |
| Lead Loan Officer | $116,101 /yr |
What are total pay estimates for a Loan Officer at different companies?
- Popular
- Most Reports
- Salary: high to low
- Salary: low to high
$233,959
/ yr
$103,230
/ yr
$141,379
/ yr
$132,459
/ yr
$136,124
/ yrIs this salary info helpful?
Let’s pay it forward! The Glassdoor community relies on people like you to share accurate salary info to promote fair compensation everywhere
$131,464
/ yr
$151,322
/ yr
$144,622
/ yr
$139,178
/ yr
$98,673
/ yr
$126,198
/ yr
$134,593
/ yr
$52
/ hr
$137,528
/ yr
Loan Officer Salaries
Top Paying Industries
For a Loan Officer in United States
The top 5 paying industries for a Loan Officer in United States are Construction, Repair & Maintenance Services with a median total pay of $153,401, Information Technology with a median total pay of $148,250, Insurance with a median total pay of $141,949, Financial Services with a median total pay of $133,513, and Real Estate with a median total pay of $128,503.
- Construction, Repair & Maintenance ServicesConstruction, Repair & Maintenance Services$153,401
13% Higher than other industries
Glassdoor Economist Pay Overview
What is the pay outlook for Finance & Accounting?
Jobs in finance and accounting are expected to see continued demand, with employment growth linked to the health of the broader economy. These jobs will continue to offer above average pay but usually require higher education or certification to enter the field. While automation will replace many common tasks, it is not expected to reduce the need for these employees; it will instead allow them to focus on core soft skills like advising clients and analyzing trends.
Recent Salaries Shared
For loan officer
Job Title
Location
Total Pay
Base Pay | Additional Pay
Total Years of Experience
Years at Recent Employer
Submitted
Date or Time
United States of America
| 1-3 years
/yr
Submitted Yesterday
United States of America
| 4-6 years
/yr
$40K | $432K
Submitted Yesterday
United States of America
| 1-3 years
/hr
Submitted Yesterday
United States of America
| 4-6 years
/yr
Submitted Yesterday
United States of America
| 1-3 years
/yr
Submitted Yesterday
United States of America
| 4-6 years
/yr
$24K | $147K
Submitted Yesterday
United States of America
| 10-14 years
/yr
Submitted Yesterday
United States of America
| 10-14 years
/mo
Submitted Yesterday
Loan Officer pay FAQ
The average salary for a Loan Officer is $147,731 per year in United States. Salaries estimates are based on 8029 salaries submitted anonymously to Glassdoor by a Loan Officer employees in United States.
The highest salary for a Loan Officer in United States is $201,087 per year.
The lowest salary for a Loan Officer in United States is $110,798 per year.
If you are thinking of becoming a Loan Officer or planning the next step in your career, find details about the role, the career path and salary trajectory of a Loan Officer.
Salaries for loan officers are similar to salaries for financial analysts, personal financial advisors and tax examiners. They may have the opportunity to earn high performance-based bonuses. Candidates may be able to further increase their opportunities and pay by taking courses or earning certifications from the American Bankers Association or the Mortgage Bankers Association. Some specialties require the Mortgage Loan Originator (MLO) license. Advancement opportunities exist into roles such as bank manager or corporate banker.
Powered by Glassdoor Economic Research
73% of loan officers are satisfied with their salaries according to anonymous Glassdoor ratings. With bonuses and profit sharing, loan officers can make an extra $54,990.92 each year. Pursuing higher education and working with wealthy clients could provide a good salary.
Loan officers can make more money by earning a license to handle mortgages. This can grant access to high-paying jobs since houses may cost hundreds of thousands of dollars. If you already have a license, you could relocate to a wealthier area or expand your reach so you find more clients. Similarly, you could research Realtors and work with the ones who close the most sales. Other options include earning multiple Bachelor's degrees or a Master's degree in a business subject. You could also advertise your business and attend networking events to connect with more people.
When you apply for loan officer jobs, talk about the biggest projects that you've closed in the past. If you have a mortgage license, discuss the high-earning Realtors that you've worked with. You could also discuss the number of loans that you close per year and the wide region that you serve. Point out your degrees, especially if you have graduate education. Highlight your years of experience if you've been a loan officer for three or more years. This suggests to employers that you're a relatively long-term employee committed to your job.
About 72.66% of Loan Officer professionals feel satisfied with their salary, according to anonymous Glassdoor ratings. An additional $54,991 in potential pay per year, among other factors, can qualify the annual pay of a Loan Officer in United States as a good salary.
Loan Officer professionals in United States have a wide total pay range, between $85,682 and $262,001 depending on experience, with an estimated total pay of $147,728 following the average career path of a Loan Officer.