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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 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 New York

Percentile BracketAverage Annual Salary
10th Percentile Wage
$35,750
25th Percentile Wage
$50,940
50th Percentile Wage
$79,660
75th Percentile Wage
$136,020
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 $79,660. The average annual salary for the bottom 10 percent is $35,750.

Percentile BracketAverage Hourly Salary
10th Percentile Wage
$17.19
25th Percentile Wage
$24.49
50th Percentile Wage
$38.29
75th Percentile Wage
$65.40
90th Percentile Wage
$95.16

Table 2 shows the average hourly salary for loan officers in New York in 5 percentile scales. The average hourly salary for the 90th percentile is $95.16. The median hourly salary is $38.29. The average hourly salary for the bottom 10 percent is $17.19.

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
201679,6607.00%-25.60%
201574,080-6.48%-
201478,880-3.97%-
201382,010-22.00%-
2012100,050--

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 $33,940 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 $84,490). The lowest paying area is Glens Falls with a median annual salary of $33,940.

Cities/Areas Median Annual Salary
New York-White Plains-Wayne
$93,380
New York-Northern New Jersey-Long Island
$84,490
Nassau-Suffolk
$77,380
Rochester
$68,470
Syracuse
$62,160
Ithaca
$59,850
Albany-Schenectady-Troy
$57,250
Poughkeepsie-Newburgh-Middletown
$56,610
Kingston
$54,130
Buffalo-Niagara Falls
$52,380
Utica-Rome
$50,490
Southwest New York nonmetropolitan area
$49,260
Central New York nonmetropolitan area
$47,610
Binghamton
$44,400
Capital-Northern New York nonmetropolitan area
$39,950
Glens Falls
$33,940


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