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Loan Officer Salary Information in Utah

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

Percentile BracketAverage Annual Salary
10th Percentile Wage
$25,040
25th Percentile Wage
$35,180
50th Percentile Wage
$50,780
75th Percentile Wage
$81,330
90th Percentile Wage
$119,900

Table 1 shows the average annual salary for loan officers in Utah in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $119,900. The median (50th percentile) annual salary is $50,780. The average annual salary for the bottom 10 percent is $25,040.

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
$50,780
0.08% -7.94%
2016
$50,740
0.55% -
2015
$50,460
-3.75% -
2014
$52,350
-8.63% -
2013
$56,870
3.62% -
2012
$54,810
- -

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

Table 3 shows the median annual salary of loan officers in some Utah cities and metropolitan areas. We note that the median annual salary of loan officers in state of Utah ranges from $37,040 to $74,260. The highest paying area for loan officers in Utah is South Western Utah nonmetropolitan area with a median annual salary of $74,260. The second highest paying city/area in Utah State is Provo-Orem (mean annual salary $69,560). The lowest paying area is Northern Utah nonmetropolitan area with a median annual salary of $37,040.

Cities/Areas Median Annual Salary
South Western Utah nonmetropolitan area
$74,260
Provo-Orem
$69,560
St George
$56,810
Salt Lake City
$55,360
Logan
$53,200
Eastern Utah nonmetropolitan area
$48,530
Ogden-Clearfield
$38,980
West Central Utah nonmetropolitan area
$37,450
Northern Utah nonmetropolitan area
$37,040




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