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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 2016 and published in April 2017 [1].

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

Percentile BracketAverage Annual Salary
10th Percentile Wage
$41,290
25th Percentile Wage
$53,010
50th Percentile Wage
$75,670
75th Percentile Wage
$118,800
90th Percentile Wage
$174,730

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 $174,730. The median (50th percentile) annual salary is $75,670. The average annual salary for the bottom 10 percent is $41,290.

Percentile BracketAverage Hourly Salary
10th Percentile Wage
$19.85
25th Percentile Wage
$25.48
50th Percentile Wage
$36.38
75th Percentile Wage
$57.11
90th Percentile Wage
$84.00

Table 2 shows the average hourly salary for loan officers in Massachusetts in 5 percentile scales. The average hourly salary for the 90th percentile is $84.00. The median hourly salary is $36.38. The average hourly salary for the bottom 10 percent is $19.85.

Salary Trend (2012 to 2016)

The following table and chart show the trend of the median salary of loan officers from 2012 to 2016.

YearMedian SalaryYearly Growth4-Year Growth
201675,670-1.20%9.07%
201576,5801.46%-
201475,4604.41%-
201372,1304.60%-
201268,810--

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 $50,390 to $85,510. The highest paying area for loan officers in Massachusetts is Peabody with a median annual salary of $85,510. The second highest paying city/area in Massachusetts State is Boston-Cambridge-Quincy (mean annual salary $81,780). The lowest paying area is Springfield with a median annual salary of $50,390.

Cities/Areas Median Annual Salary
Peabody
$85,510
Boston-Cambridge-Quincy
$81,780
Boston-Cambridge-Quincy
$78,090
Barnstable Town
$75,160
Northwest Massachusetts nonmetropolitan area
$74,000
Brockton-Bridgewater-Easton
$72,070
Worcester
$70,310
Taunton-Norton-Raynham
$66,270
Framingham
$65,860
New Bedford
$63,830
Leominster-Fitchburg-Gardner
$63,360
Springfield
$50,390



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