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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 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 Ohio

Percentile BracketAverage Annual Salary
10th Percentile Wage
$29,820
25th Percentile Wage
$42,280
50th Percentile Wage
$61,530
75th Percentile Wage
$86,900
90th Percentile Wage
$115,690

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 $115,690. The median (50th percentile) annual salary is $61,530. The average annual salary for the bottom 10 percent is $29,820.

Percentile BracketAverage Hourly Salary
10th Percentile Wage
$14.34
25th Percentile Wage
$20.32
50th Percentile Wage
$29.58
75th Percentile Wage
$41.78
90th Percentile Wage
$55.62

Table 2 shows the average hourly salary for loan officers in Ohio in 5 percentile scales. The average hourly salary for the 90th percentile is $55.62. The median hourly salary is $29.58. The average hourly salary for the bottom 10 percent is $14.34.

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
201661,5306.50%11.00%
201557,5300.23%-
201457,4002.74%-
201355,8301.92%-
201254,760--

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 $44,990 to $71,110. The highest paying area for loan officers in Ohio is Cincinnati-Middletown with a median annual salary of $71,110. The second highest paying city/area in Ohio State is Cleveland-Elyria-Mentor (mean annual salary $70,530). The lowest paying area is Canton-Massillon with a median annual salary of $44,990.

Cities/Areas Median Annual Salary
Cincinnati-Middletown
$71,110
Cleveland-Elyria-Mentor
$70,530
Akron
$59,060
Columbus
$58,100
Springfield
$57,980
West Northwestern Ohio nonmetropolitan area
$57,220
Toledo
$56,020
Lima
$54,670
Eastern Ohio nonmetropolitan area
$54,200
Other Ohio nonmetropolitan area
$50,530
Southern Ohio nonmetropolitan area
$49,130
Mansfield
$49,040
Dayton
$47,980
Sandusky
$47,070
Canton-Massillon
$44,990


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