The annual salary statistics of loan officers in Phoenix-Mesa-Glendale, Arizona is shown in Table 1. The wage information of loan officers in Phoenix-Mesa-Glendale is based on the national compensation survey conducted by the U.S. Bureau of Labor Statistics in 2022 and published in April 2023 [1].
| Percentile Bracket | Average Annual Salary |
|---|---|
| 10th Percentile Wage | $28,300 |
| 25th Percentile Wage | $42,830 |
| 50th Percentile Wage | $60,650 |
| 75th Percentile Wage | $85,240 |
| 90th Percentile Wage | $105,840 |
Table 1 shows the average annual salary for loan officers in Phoenix-Mesa-Glendale, Arizona in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $105,840. The median (50th percentile) annual salary is $60,650. The average annual salary for the bottom 10 percent earners is $28,300.
The table and chart below show the trend of the median salary of loan officers from 2012 to 2022.
| Year | Median Salary | Yearly Growth | 10-Year Growth |
|---|---|---|---|
| 2022 | $60,650 | 0.45% | 11.06% |
| 2021 | $60,380 | 13.33% | - |
| 2020 | $52,330 | 1.07% | - |
| 2019 | $51,770 | -4.15% | - |
| 2018 | $53,920 | -18.32% | - |
| 2017 | $63,800 | 2.54% | - |
| 2016 | $62,180 | -3.52% | - |
| 2015 | $64,370 | 4.49% | - |
| 2014 | $61,480 | 8.85% | - |
| 2013 | $56,040 | 3.75% | - |
| 2012 | $53,940 | - | - |
From Table 3 we note that with a median annual salary of $60,650, Phoenix-Mesa-Glendale is the second highest paying city for loan officers in state of Arizona, following the highest paying city Sierra Vista-Douglas (median annual salary of $71,740). Compared with Sierra Vista-Douglas, the median annual salary of loan officers in Phoenix-Mesa-Glendale is 15.5 percent (15.5%) lower.
| Cities/Areas | Median Annual Salary |
|---|---|
| Sierra Vista-Douglas | |
| Phoenix-Mesa-Glendale | |
| Tucson | |
| North Arizona nonmetropolitan area | |
| Yuma | |
| Lake Havasu City-Kingman | |
| Prescott | |
| Flagstaff |