Loan Officers
SOC 13-2072 • View wages by state
The median annual wage for Loan Officers is $69,990, based on BLS OEWS 2023 data. The mean annual wage is $84,490, and an estimated 321,090 workers are employed in this occupation nationally. Between 2020 and 2023, pay rose +9.4% while consumer prices rose 17.7% — a real change of -7.1% (pay did not keep up with inflation). BLS projects employment will grow 1.7% between 2024 and 2034.
Wage Trend & Inflation Adjustment
How the national median wage for Loan Officers has moved across BLS OEWS release years, and what each year's wage is worth in 2023 dollars after adjusting for CPI inflation. "Real" change strips out inflation — the truest measure of whether pay is actually rising.
| Year | Median (nominal) | In 2023 $ (real) | Employment |
|---|---|---|---|
| 2023 | $69,990 | $69,990 | 321,090 |
| 2022 | $65,740 | $68,446 | 345,550 |
| 2021 | $63,380 | $71,270 | 340,170 |
| 2020 | $63,960 | $75,301 | 308,700 |
Nominal change
+9.4%
Inflation (CPI)
+17.7%
Real change
-7.1%
Job Outlook (2024–2034 BLS projection)
The BLS Employment Projections program estimates how each occupation's employment will change over the coming decade, and how many job openings to expect each year (from both growth and the need to replace workers who leave).
Projected Growth
+1.7%
About average
Employment 2024
301,400
Projected 2034
306,500
Annual Openings
20,300
Typical entry-level education: Bachelor's degree.
Highest-Paying Areas (2023)
Where Loan Officers earn the most, and how each area's median compares to the national median of $69,990. A positive premium means the area pays above the national rate.
| Area | Median Annual | vs National | Employment |
|---|---|---|---|
| District of Columbia | $100,210 | +43.2% | 380 |
| New York | $97,300 | +39% | 11,620 |
| Massachusetts | $96,940 | +38.5% | 6,410 |
| Southeast Minnesota nonmetropolitan area | $89,880 | +28.4% | 400 |
| North Dakota | $86,440 | +23.5% | 1,420 |
| West North Dakota nonmetropolitan area | $85,030 | +21.5% | 340 |
| Northern Vermont nonmetropolitan area | $83,030 | +18.6% | 130 |
| New Jersey | $82,560 | +18% | 7,190 |
| Minnesota | $82,330 | +17.6% | 7,270 |
| Massachusetts nonmetropolitan area | $82,020 | +17.2% | 100 |
Wage Distribution (National, 2023)
10th, 25th, 50th (median), 75th, and 90th percentile annual wages from BLS OEWS — the full spread, not just an average.
10th Pct
$37,020
25th Pct
$49,130
Median
$69,990
75th Pct
$100,020
90th Pct
$139,470
H-1B Employer Filings
Employer-certified wages from DOL H-1B LCA filings — competitive market benchmark, not approved visas.
| Employer | State | Filings | Median Wage |
|---|---|---|---|
| CTBC Bank Co. Ltd. | NY | 1 | $130,000 |
| Better Mortgage Corporation (A Better Holdco, Inc. company) | NY | 1 | $60,000 |
| PREMIUM MERCHANT FUNDING | MI | 1 | $79,643 |
| THE UNIVERSITY OF TEXAS RIO GRANDE VALLEY | TX | 1 | $40,500 |
| JDM Funding Corporation | CA | 1 | $80,000 |
Source: DOL Office of Foreign Labor Certification, H-1B LCA data.
Related Occupations in Business & Financial Operations
Other occupations in the same SOC major group, ranked by national median wage.
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