Loan Officer Salary in Sector of Finance and Insurance

The salary statistics of loan officers in the industry sector of finance and insurance are shown in Table 1. In Table 2 we compare loan officer salaries in different industries within the finance and insurance sector.

Average Annual Salary of Loan Officers

Percentile BracketAverage Annual Salary
10th Percentile Wage
$31,960
25th Percentile Wage
$44,790
50th Percentile Wage
$63,660
75th Percentile Wage
$93,130
90th Percentile Wage
$134,010

Table 1 shows the average annual salary for loan officers in the industry sector of finance and insurance. The salaries are shown in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) loan officers is $134,010. The median annual salary (50th percentile) is $63,660. The average annual salary for the bottom 10 percent paid loan officers is $31,960.

Salary Trend (2012 to 2017)

The table and chart below show the trend of the median salary of loan officers in the industry sector of finance and insurance from 2012 to 2017.

YearMedian SalaryYearly Growth5-Year Growth
2017
$63,660
1.96% 7.38%
2016
$62,410
0.48% -
2015
$62,110
1.16% -
2014
$61,390
1.53% -
2013
$60,450
2.46% -
2012
$58,960
- -

Compare Loan Officer Salary in Different Industries within the Finance and Insurance Sector

The average salaries of loan officers in 19 industries in the finance and insurance sector are shown below. We note that within this industry sector, the salaries vary among different industries. The highest paying industry for loan officer occupations is the securities, commodity contracts, and other financial investments and related activities industry with an annual salary $80,530. The lowest paying industry is the activities related to credit intermediation industry (annual salary $61,540). For detailed loan officer salary information in a particular industry, use the links provided below.

Industry Name Median Annual Salary
Securities, Commodity Contracts, and Other Financial Investments and Related Activities
$80,530
Funds, Trusts, and Other Financial Vehicles
$80,450
Other Investment Pools and Funds
$80,450
Other Insurance Related Activities
$79,750
Monetary Authorities-Central Bank
$77,590
Monetary Authorities-Central Bank
$77,590
Securities and Commodity Contracts Intermediation and Brokerage
$77,340
Other Financial Investment Activities
$77,220
Credit Intermediation and Related Activities
$63,830
Agencies, Brokerages, and Other Insurance Related Activities
$63,730
Direct Insurance (except Life, Health, and Medical) Carriers
$63,480
Insurance Carriers and Related Activities
$63,480
Credit Intermediation and Related Activities
$63,420
Insurance Carriers
$63,370
Depository Credit Intermediation
$62,890
Nondepository Credit Intermediation
$62,600
Insurance Agencies and Brokerages
$62,370
Other Nondepository Credit Intermediation
$61,560
Activities Related to Credit Intermediation
$61,540

Data source: The national compensation survey conducted by the U.S. Bureau of Labor Statistics (BLS) in 2017 and published in April 2018 [1].




Related:

Highest paying cities for loan officers

Highest paying industries for loan officers.