The average annual salaries for loan officers in the state of Connecticut are shown in Table 1. The comparison of the salary statistics of loan officers among Connecticut cities is shown in Table 2. The salary statistics are 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 | $45,580 |
| 25th Percentile Wage | $55,480 |
| 50th Percentile Wage | $65,450 |
| 75th Percentile Wage | $81,070 |
| 90th Percentile Wage | $133,500 |
Table 1 shows the average annual salary for loan officers in Connecticut in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $133,500. The median (50th percentile) annual salary is $65,450. The average annual salary for the bottom 10 percent is $45,580.
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 | $65,450 | 5.50% | -1.76% |
| 2021 | $61,850 | 0.73% | - |
| 2020 | $61,400 | -14.77% | - |
| 2019 | $70,470 | -6.41% | - |
| 2018 | $74,990 | -2.40% | - |
| 2017 | $76,790 | 7.16% | - |
| 2016 | $71,290 | 1.81% | - |
| 2015 | $70,000 | 2.23% | - |
| 2014 | $68,440 | 4.40% | - |
| 2013 | $65,430 | -1.79% | - |
| 2012 | $66,600 | - | - |
Table 3 shows the median annual salary of loan officers in some Connecticut cities and metropolitan areas. We note that the median annual salary of loan officers in state of Connecticut ranges from $61,960 to $75,900. The highest paying area for loan officers in Connecticut is Danbury with a median annual salary of $75,900. The second highest paying city/area in Connecticut State is Bridgeport-Stamford-Norwalk (mean annual salary $67,600). The lowest paying area is Waterbury with a median annual salary of $61,960.
| Cities/Areas | Median Annual Salary |
|---|---|
| Danbury | |
| Bridgeport-Stamford-Norwalk | |
| New Haven | |
| Hartford-West Hartford-East Hartford | |
| Northwestern Connecticut nonmetropolitan area | |
| Waterbury |