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Loan Officer Salary Information in Washington

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

Percentile BracketAverage Annual Salary
10th Percentile Wage
$23,100
25th Percentile Wage
$40,370
50th Percentile Wage
$63,310
75th Percentile Wage
$92,350
90th Percentile Wage
$132,160

Table 1 shows the average annual salary for loan officers in Washington in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $132,160. The median (50th percentile) annual salary is $63,310. The average annual salary for the bottom 10 percent is $23,100.

Percentile BracketAverage Hourly Salary
10th Percentile Wage
$11.11
25th Percentile Wage
$19.41
50th Percentile Wage
$30.44
75th Percentile Wage
$44.40
90th Percentile Wage
$63.54

Table 2 shows the average hourly salary for loan officers in Washington in 5 percentile scales. The average hourly salary for the 90th percentile is $63.54. The median hourly salary is $30.44. The average hourly salary for the bottom 10 percent is $11.11.

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
201663,3104.56%-5.83%
201560,420-2.73%-
201462,070-7.73%-
201366,870-0.19%-
201267,000--

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

Table 3 shows the median annual salary of loan officers in some Washington cities and metropolitan areas. We note that the median annual salary of loan officers in state of Washington ranges from $39,070 to $80,650. The highest paying area for loan officers in Washington is Wenatchee-East Wenatchee with a median annual salary of $80,650. The second highest paying city/area in Washington State is Longview (mean annual salary $79,500). The lowest paying area is Lewiston with a median annual salary of $39,070.

Cities/Areas Median Annual Salary
Wenatchee-East Wenatchee
$80,650
Longview
$79,500
Portland-Vancouver-Hillsboro
$76,660
Central Washington nonmetropolitan area
$71,590
Yakima
$69,950
Northwestern Washington nonmetropolitan area
$68,280
Seattle-Bellevue-Everett
$65,270
Seattle-Tacoma-Bellevue
$65,250
Tacoma
$65,120
Southwestern Washington nonmetropolitan area
$63,760
Kennewick-Pasco-Richland
$62,560
Spokane
$58,660
Bellingham
$55,430
Mount Vernon-Anacortes
$55,120
Olympia
$53,660
Bremerton-Silverdale
$53,410
Eastern Washington nonmetropolitan area
$52,590
Lewiston
$39,070


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