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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 amongst 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 2016 and published in April 2017 [1].

Table 1 & 2. Annual & Hourly Salary of Loan Officers in Tennessee

Percentile BracketAverage Annual Salary
10th Percentile Wage
$31,150
25th Percentile Wage
$41,510
50th Percentile Wage
$58,590
75th Percentile Wage
$80,610
90th Percentile Wage
$132,500

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 $132,500. The median (50th percentile) annual salary is $58,590. The average annual salary for the bottom 10 percent is $31,150.

Percentile BracketAverage Hourly Salary
10th Percentile Wage
$14.98
25th Percentile Wage
$19.95
50th Percentile Wage
$28.17
75th Percentile Wage
$38.76
90th Percentile Wage
$63.70

Table 2 shows the average hourly salary for loan officers in Tennessee in 5 percentile scales. The average hourly salary for the 90th percentile is $63.70. The median hourly salary is $28.17. The average hourly salary for the bottom 10 percent is $14.98.

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
201658,5905.63%14.08%
201555,2903.62%-
201453,2907.56%-
201349,260-2.19%-
201250,340--

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 $44,000 to $70,930. The highest paying area for loan officers in Tennessee is Morristown with a median annual salary of $70,930. The second highest paying city/area in Tennessee State is Jackson (mean annual salary $66,910). The lowest paying area is Clarksville with a median annual salary of $44,000.

Cities/Areas Median Annual Salary
Morristown
$70,930
Jackson
$66,910
Nashville-Davidson--Murfreesboro--Franklin
$65,190
Johnson City
$63,130
Chattanooga
$61,020
Western Tennessee nonmetropolitan area
$58,640
Knoxville
$56,030
Memphis
$53,530
South Central Tennessee nonmetropolitan area
$52,370
North Central Tennessee nonmetropolitan area
$51,260
Eastern Tennessee nonmetropolitan area
$48,940
Cleveland
$44,100
Clarksville
$44,000



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