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Loan Officer Salary Information in New York

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

Percentile BracketAverage Annual Salary
10th Percentile Wage
$36,490
25th Percentile Wage
$53,800
50th Percentile Wage
$86,680
75th Percentile Wage
$143,210
90th Percentile Wage
$197,940

Table 1 shows the average annual salary for loan officers in New York in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $197,940. The median (50th percentile) annual salary is $86,680. The average annual salary for the bottom 10 percent is $36,490.

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
$86,680
8.10% -15.42%
2016
$79,660
7.00% -
2015
$74,080
-6.48% -
2014
$78,880
-3.97% -
2013
$82,010
-22.00% -
2012
$100,050
- -

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

Table 3 shows the median annual salary of loan officers in some New York cities and metropolitan areas. We note that the median annual salary of loan officers in state of New York ranges from $38,830 to $93,380. The highest paying area for loan officers in New York is New York-White Plains-Wayne with a median annual salary of $93,380. The second highest paying city/area in New York State is New York-Northern New Jersey-Long Island (mean annual salary $90,680). The lowest paying area is Glens Falls with a median annual salary of $38,830.

Cities/Areas Median Annual Salary
New York-White Plains-Wayne
$93,380
New York-Northern New Jersey-Long Island
$90,680
Ithaca
$86,810
Nassau-Suffolk
$83,670
Utica-Rome
$66,600
East Central New York nonmetropolitan area
$64,810
Rochester
$61,110
Kingston
$60,080
Syracuse
$59,130
Buffalo-Niagara Falls
$57,160
Albany-Schenectady-Troy
$56,890
Poughkeepsie-Newburgh-Middletown
$56,610
Elmira
$56,420
Central New York nonmetropolitan area
$53,030
Southwest New York nonmetropolitan area
$51,590
Binghamton
$49,750
Capital-Northern New York nonmetropolitan area
$41,380
Glens Falls
$38,830




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