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Loan Officer Salary Information in Virginia

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

Percentile BracketAverage Annual Salary
10th Percentile Wage
$32,960
25th Percentile Wage
$48,060
50th Percentile Wage
$68,870
75th Percentile Wage
$97,160
90th Percentile Wage
$144,630

Table 1 shows the average annual salary for loan officers in Virginia in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $144,630. The median (50th percentile) annual salary is $68,870. The average annual salary for the bottom 10 percent is $32,960.

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
$68,870
6.87% 19.02%
2016
$64,140
-1.12% -
2015
$64,860
0.34% -
2014
$64,640
5.37% -
2013
$61,170
8.83% -
2012
$55,770
- -

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

Table 3 shows the median annual salary of loan officers in some Virginia cities and metropolitan areas. We note that the median annual salary of loan officers in state of Virginia ranges from $43,860 to $69,080. The highest paying area for loan officers in Virginia is Southside Virginia nonmetropolitan area with a median annual salary of $69,080. The second highest paying city/area in Virginia State is Charlottesville (mean annual salary $66,080). The lowest paying area is Danville with a median annual salary of $43,860.

Cities/Areas Median Annual Salary
Southside Virginia nonmetropolitan area
$69,080
Charlottesville
$66,080
Richmond
$64,980
Roanoke
$64,220
Virginia Beach-Norfolk-Newport News
$60,980
Blacksburg-Christiansburg-Radford
$60,950
Lynchburg
$59,140
Southwestern Virginia nonmetropolitan area
$58,170
Kingsport-Bristol-Bristol
$56,530
Northwestern Virginia nonmetropolitan area
$53,290
Northeastern Virginia nonmetropolitan area
$51,700
Harrisonburg
$44,680
Danville
$43,860




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