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Loan Officer Salary Information in New Jersey

The average annual and hourly salaries for loan officers in the state of New Jersey are shown in Table 1 and Table 2, respectively. The comparison of the salary statistics of loan officers amongst New Jersey 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 2017 and published in April 2018 [1].

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

Percentile BracketAverage Annual Salary
10th Percentile Wage
$36,580
25th Percentile Wage
$52,860
50th Percentile Wage
$73,280
75th Percentile Wage
$102,280
90th Percentile Wage
$148,720

Table 1 shows the average annual salary for loan officers in New Jersey in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $148,720. The median (50th percentile) annual salary is $73,280. The average annual salary for the bottom 10 percent is $36,580.

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
$73,280
-1.75% 3.14%
2016
$74,560
0.40% -
2015
$74,260
2.41% -
2014
$72,470
-1.50% -
2013
$73,560
3.51% -
2012
$70,980
- -

Table 3. Median Annual Salary of Loan Officers in New Jersey Cities

Table 3 shows the median annual salary of loan officers in some New Jersey cities and metropolitan areas. We note that the median annual salary of loan officers in state of New Jersey ranges from $56,490 to $80,610. The highest paying area for loan officers in New Jersey is Edison-New Brunswick with a median annual salary of $80,610. The second highest paying city/area in New Jersey State is Camden (mean annual salary $79,240). The lowest paying area is Atlantic City-Hammonton with a median annual salary of $56,490.

Cities/Areas Median Annual Salary
Edison-New Brunswick
$80,610
Camden
$79,240
Trenton-Ewing
$72,190
Wilmington
$61,250
Ocean City
$59,370
Vineland-Millville-Bridgeton
$57,610
Atlantic City-Hammonton
$56,490




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