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Loan Officer Salary Information in Maryland

The average annual and hourly salaries for loan officers in the state of Maryland are shown in Table 1 and Table 2, respectively. The comparison of the salary statistics of loan officers amongst Maryland 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 Maryland

Percentile BracketAverage Annual Salary
10th Percentile Wage
$30,290
25th Percentile Wage
$45,770
50th Percentile Wage
$65,820
75th Percentile Wage
$96,330
90th Percentile Wage
$143,600

Table 1 shows the average annual salary for loan officers in Maryland in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $143,600. The median (50th percentile) annual salary is $65,820. The average annual salary for the bottom 10 percent is $30,290.

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
$65,820
10.35% 11.87%
2016
$59,010
0.37% -
2015
$58,790
1.11% -
2014
$58,140
-6.11% -
2013
$61,690
5.97% -
2012
$58,010
- -

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

Table 3 shows the median annual salary of loan officers in some Maryland cities and metropolitan areas. We note that the median annual salary of loan officers in state of Maryland ranges from $48,200 to $68,170. The highest paying area for loan officers in Maryland is Salisbury with a median annual salary of $68,170. The second highest paying city/area in Maryland State is Baltimore-Towson (mean annual salary $64,110). The lowest paying area is Upper Eastern Shore nonmetropolitan area with a median annual salary of $48,200.

Cities/Areas Median Annual Salary
Salisbury
$68,170
Baltimore-Towson
$64,110
Bethesda-Rockville-Frederick
$52,560
Upper Eastern Shore nonmetropolitan area
$48,200




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