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Loan Officer Salary Information in Tennessee

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

Percentile BracketAverage Annual Salary
10th Percentile Wage
$32,730
25th Percentile Wage
$41,400
50th Percentile Wage
$60,320
75th Percentile Wage
$83,010
90th Percentile Wage
$124,840

Table 1 shows the average annual salary for loan officers in Tennessee in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $124,840. The median (50th percentile) annual salary is $60,320. The average annual salary for the bottom 10 percent is $32,730.

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
$60,320
2.87% 16.55%
2016
$58,590
5.63% -
2015
$55,290
3.62% -
2014
$53,290
7.56% -
2013
$49,260
-2.19% -
2012
$50,340
- -

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

Table 3 shows the median annual salary of loan officers in some Tennessee cities and metropolitan areas. We note that the median annual salary of loan officers in state of Tennessee ranges from $38,480 to $82,530. The highest paying area for loan officers in Tennessee is Morristown with a median annual salary of $82,530. The second highest paying city/area in Tennessee State is Nashville-Davidson--Murfreesboro--Franklin (mean annual salary $72,860). The lowest paying area is Cleveland with a median annual salary of $38,480.

Cities/Areas Median Annual Salary
Morristown
$82,530
Nashville-Davidson--Murfreesboro--Franklin
$72,860
Chattanooga
$69,290
Jackson
$67,980
Knoxville
$58,380
Western Tennessee nonmetropolitan area
$57,760
South Central Tennessee nonmetropolitan area
$56,400
Memphis
$55,230
Eastern Tennessee nonmetropolitan area
$51,380
Clarksville
$50,620
North Central Tennessee nonmetropolitan area
$49,660
Johnson City
$47,390
Cleveland
$38,480




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