Source: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics, May 2025, aged to 2026 using compounded market movement. State selections show BLS state-level figures where published. Actual pay varies with experience, industry, and organization size.
Long-term incentive is not shown for this role. Equity awards are only disclosed publicly for the named executive officers of public companies, so no market figure exists for most jobs. See executive pay disclosures.
Typical entry preparation: Bachelor's Degree and up to 2 years of related work experience, per O*NET occupational data. Advancement typically requires additional years in role.
Meet with applicants to obtain information for loan applications and to answer questions about the process.
Analyze applicants' financial status, credit, and property evaluations to determine feasibility of granting loans.
Approve loans within specified limits, and refer loan applications outside those limits to management for approval.
Explain to customers the different types of loans and credit options that are available, as well as the terms of those services.
Submit applications to credit analysts for verification and recommendation.
Top skills:SpeakingActive ListeningReading ComprehensionJudgment and Decision MakingCritical ThinkingWriting
Includes information from O*NET OnLine by the U.S. Department of Labor, Employment and Training Administration (CC BY 4.0).
Loan Officer pay by experience level
Entry level$41,000
Typical starting pay (about the 10th percentile)
Early career$54,500
A few years in (about the 25th percentile)
Experienced$79,500
Mid-career median pay
Senior$107,500
Seasoned professionals (about the 75th percentile)
Top earners$158,500
Highest earners (about the 90th percentile)
Experience tiers are derived from the BLS wage percentile distribution for this occupation, aged to 2026. Actual pay varies by employer, location, and specialization.
Job outlook
+1.7%
projected change in jobs, 2024–2034
20,300
projected openings per year
Growing slower than average
Source: U.S. Bureau of Labor Statistics, Employment Projections program (2024–2034). Openings include growth and replacement needs.
Loan Officer salary by industry
Credit Intermediation and Related Activities
222,090 workers
$89,000
Credit Intermediation and Related Activities (5221 and 5223 only)
145,430 workers
$92,500
Nondepository Credit Intermediation
76,670 workers
$82,500
Management of Companies and Enterprises
12,320 workers
$97,000
Management of Companies and Enterprises
12,320 workers
$97,000
Motor Vehicle and Parts Dealers
12,200 workers
$129,000
Automobile Dealers
11,360 workers
$131,000
Federal, State, and Local Government, excluding State and Local Schools and Hospitals and USPS
5,880 workers
$86,500
Federal Executive Branch (OEWS Designation)
5,100 workers
$87,000
Securities, Commodity Contracts, and Other Financial Investments and Related Activities
5,040 workers
$120,500
National sector-level figures, BLS OEWS May 2025, aged to 2026.
Typical duties and FLSA status
Core duties
Meet with applicants to obtain information for loan applications and to answer questions about the process.
Analyze applicants' financial status, credit, and property evaluations to determine feasibility of granting loans.
Approve loans within specified limits, and refer loan applications outside those limits to management for approval.
Explain to customers the different types of loans and credit options that are available, as well as the terms of those services.
Submit applications to credit analysts for verification and recommendation.
FLSA classification (typical)
Typically Exempt · Professional, Administrative, or Executive exemption
Occupations in this SOC group are typically classified as Exempt when paid above the salary threshold, provided they satisfy the duties test for one of the FLSA exemption categories. Actual classification depends on the specific job duties, salary basis, and any applicable state or local rules. The current federal salary threshold for exemption is $684 per week ($35,568 per year), per the 2020 Department of Labor rule; the 2024 rule that would have raised the threshold was struck down by federal court in November 2024.
How this role compares
Loan Officer pays 4% below the average across 47 roles in the Business and Financial Operations job family (family average $94,500).
Similar-paying roles in Business and Financial Operations
Related occupations from O*NET OnLine, U.S. Department of Labor.
Frequently asked questions
How much does a Loan Officer make?
The average base salary for a Loan Officer in the United States is $91,000 per year, or about $43.75 per hour.
What is the typical salary range?
Pay typically falls between $54,500 and $107,500 per year (25th to 75th percentile) depending on experience, location, industry, and organization size.
How does this compare with other Business and Financial Operations roles?
The Business and Financial Operations job family averages $94,500 across 47 roles tracked by WePayFairly.
Need a defensible market price for this role? WePayFairly data is compiled from published survey sources and maintained by compensation professionals.
Need Loan Officer pay benchmarked for your organization, or defensible compensation analysis for a dispute or valuation? Grahall builds it from primary sources, backed by an expert who testifies.
