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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 metropolitan 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 Maryland

Percentile BracketAverage Annual Salary
10th Percentile Wage
$28,560
25th Percentile Wage
$42,090
50th Percentile Wage
$59,010
75th Percentile Wage
$90,620
90th Percentile Wage
$147,470

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 $147,470. The median (50th percentile) annual salary is $59,010. The average annual salary for the bottom 10 percent is $28,560.

Percentile BracketAverage Hourly Salary
10th Percentile Wage
$13.73
25th Percentile Wage
$20.23
50th Percentile Wage
$28.37
75th Percentile Wage
$43.57
90th Percentile Wage
$70.90

Table 2 shows the average hourly salary for loan officers in Maryland in 5 percentile scales. The average hourly salary for the 90th percentile is $70.90. The median hourly salary is $28.37. The average hourly salary for the bottom 10 percent is $13.73.

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
201659,0100.37%1.69%
201558,7901.11%-
201458,140-6.11%-
201361,6905.97%-
201258,010--

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 $43,940 to $59,780. The highest paying area for loan officers in Maryland is Salisbury with a median annual salary of $59,780. The second highest paying city/area in Maryland State is Baltimore-Towson (mean annual salary $56,090). The lowest paying area is Upper Eastern Shore nonmetropolitan area with a median annual salary of $43,940.

Cities/Areas Median Annual Salary
Salisbury
$59,780
Baltimore-Towson
$56,090
Bethesda-Rockville-Frederick
$52,560
Upper Eastern Shore nonmetropolitan area
$43,940


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