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Loan Officer Salary Information in Massachusetts

The average annual and hourly salaries for loan officers in the state of Massachusetts are shown in Table 1 and Table 2, respectively. The comparison of the salary statistics of loan officers among Massachusetts areas is shown in Table 3. The salary statistics are based on the national compensation survey conducted by the U.S. Bureau of Labor Statistics in 2017 and published in April 2018 [1].

Table 1 & 2. Annual & Hourly Salary of Loan Officers in Massachusetts

Percentile BracketAverage Annual Salary
10th Percentile Wage
$37,370
25th Percentile Wage
$50,170
50th Percentile Wage
$72,420
75th Percentile Wage
$108,790
90th Percentile Wage
$174,440

Table 1 shows the average annual salary for loan officers in Massachusetts in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $174,440. The median (50th percentile) annual salary is $72,420. The average annual salary for the bottom 10 percent is $37,370.

Salary Trend (2012 to 2017)

The table and chart below show the trend of the median salary of loan officers from 2012 to 2017.

YearMedian SalaryYearly Growth5-Year Growth
2017
$72,420
-4.49% 4.98%
2016
$75,670
-1.20% -
2015
$76,580
1.46% -
2014
$75,460
4.41% -
2013
$72,130
4.60% -
2012
$68,810
- -

Table 3. Median Annual Salary of Loan Officers in Massachusetts Cities

Table 3 shows the median annual salary of loan officers in some Massachusetts cities and metropolitan areas. We note that the median annual salary of loan officers in state of Massachusetts ranges from $54,380 to $79,480. The highest paying area for loan officers in Massachusetts is Barnstable Town with a median annual salary of $79,480. The second highest paying city/area in Massachusetts State is Peabody (mean annual salary $77,880). The lowest paying area is Springfield with a median annual salary of $54,380.

Cities/Areas Median Annual Salary
Barnstable Town
$79,480
Peabody
$77,880
Brockton-Bridgewater-Easton
$76,750
Boston-Cambridge-Quincy
$76,000
Boston-Cambridge-Quincy
$74,710
Framingham
$73,250
New Bedford
$68,970
Worcester
$68,740
Taunton-Norton-Raynham
$67,950
Leominster-Fitchburg-Gardner
$59,660
Northwest Massachusetts nonmetropolitan area
$58,400
Pittsfield
$54,730
Springfield
$54,380




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