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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 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 2016 and published in April 2017 [1].

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

Percentile BracketAverage Annual Salary
10th Percentile Wage
$33,190
25th Percentile Wage
$46,160
50th Percentile Wage
$64,140
75th Percentile Wage
$93,330
90th Percentile Wage
$136,500

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 $136,500. The median (50th percentile) annual salary is $64,140. The average annual salary for the bottom 10 percent is $33,190.

Percentile BracketAverage Hourly Salary
10th Percentile Wage
$15.96
25th Percentile Wage
$22.19
50th Percentile Wage
$30.84
75th Percentile Wage
$44.87
90th Percentile Wage
$65.63

Table 2 shows the average hourly salary for loan officers in Virginia in 5 percentile scales. The average hourly salary for the 90th percentile is $65.63. The median hourly salary is $30.84. The average hourly salary for the bottom 10 percent is $15.96.

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
201664,140-1.12%13.05%
201564,8600.34%-
201464,6405.37%-
201361,1708.83%-
201255,770--

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 $43,260 to $71,140. The highest paying area for loan officers in Virginia is Southside Virginia nonmetropolitan area with a median annual salary of $71,140. The second highest paying city/area in Virginia State is Charlottesville (mean annual salary $66,430). The lowest paying area is Harrisonburg with a median annual salary of $43,260.

Cities/Areas Median Annual Salary
Southside Virginia nonmetropolitan area
$71,140
Charlottesville
$66,430
Blacksburg-Christiansburg-Radford
$64,930
Richmond
$64,380
Roanoke
$64,350
Virginia Beach-Norfolk-Newport News
$59,080
Northeastern Virginia nonmetropolitan area
$55,460
Lynchburg
$53,800
Southwestern Virginia nonmetropolitan area
$52,610
Northwestern Virginia nonmetropolitan area
$49,390
Kingsport-Bristol-Bristol
$45,920
Danville
$43,860
Harrisonburg
$43,260


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