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Loan Officer Salary Information in Ohio

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

Percentile BracketAverage Annual Salary
10th Percentile Wage
$31,940
25th Percentile Wage
$45,140
50th Percentile Wage
$65,510
75th Percentile Wage
$90,110
90th Percentile Wage
$120,650

Table 1 shows the average annual salary for loan officers in Ohio in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $120,650. The median (50th percentile) annual salary is $65,510. The average annual salary for the bottom 10 percent is $31,940.

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
$65,510
6.08% 16.41%
2016
$61,530
6.50% -
2015
$57,530
0.23% -
2014
$57,400
2.74% -
2013
$55,830
1.92% -
2012
$54,760
- -

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

Table 3 shows the median annual salary of loan officers in some Ohio cities and metropolitan areas. We note that the median annual salary of loan officers in state of Ohio ranges from $46,530 to $76,700. The highest paying area for loan officers in Ohio is Toledo with a median annual salary of $76,700. The second highest paying city/area in Ohio State is Cleveland-Elyria-Mentor (mean annual salary $73,380). The lowest paying area is Dayton with a median annual salary of $46,530.

Cities/Areas Median Annual Salary
Toledo
$76,700
Cleveland-Elyria-Mentor
$73,380
Cincinnati-Middletown
$69,180
Springfield
$69,010
Other Ohio nonmetropolitan area
$68,140
Akron
$65,770
Columbus
$64,070
Lima
$60,930
Mansfield
$60,580
West Northwestern Ohio nonmetropolitan area
$59,480
Eastern Ohio nonmetropolitan area
$57,290
Southern Ohio nonmetropolitan area
$52,550
Canton-Massillon
$49,330
Sandusky
$47,070
Dayton
$46,530




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