The annual salary statistics of loan officers in Leominster-Fitchburg-Gardner, Massachusetts is shown in Table 1. The wage data of loan officers in Leominster-Fitchburg-Gardner 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 | $44,960 |
| 25th Percentile Wage | $56,690 |
| 50th Percentile Wage | $78,150 |
| 75th Percentile Wage | $99,180 |
| 90th Percentile Wage | $152,580 |
Table 1 shows the average annual salary for loan officers in Leominster-Fitchburg-Gardner, Massachusetts in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $152,580. The median (50th percentile) annual salary is $78,150. The average annual salary for the bottom 10 percent earners is $44,960.
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 | $78,150 | 1.98% | 25.91% |
| 2021 | $76,600 | 14.96% | - |
| 2020 | $65,140 | -1.61% | - |
| 2019 | $66,190 | 5.94% | - |
| 2018 | $62,260 | 4.18% | - |
| 2017 | $59,660 | -6.20% | - |
| 2016 | $63,360 | 8.89% | - |
| 2013 | $57,730 | -0.29% | - |
| 2012 | $57,900 | - | - |
From Table 3 we note that the median annual salary of $78,150 in Leominster-Fitchburg-Gardner is in the middle of salary range for loan officers in state of Massachusetts. In comparison, the annual salary of loan officers in Leominster-Fitchburg-Gardner is 3.4 percent (3.4%) lower than that in the highest paying Boston-Cambridge-Quincy and 25.3 percent (25.3%) higher than that in the lowest paying Northwest Massachusetts nonmetropolitan area.
| Cities/Areas | Median Annual Salary |
|---|---|
| Boston-Cambridge-Quincy | |
| Barnstable Town | |
| Pittsfield | |
| Leominster-Fitchburg-Gardner | |
| Peabody | |
| New Bedford | |
| Brockton-Bridgewater-Easton | |
| Boston-Cambridge-Quincy | |
| Worcester | |
| Springfield | |
| Massachusetts nonmetropolitan area | |
| Framingham | |
| Taunton-Norton-Raynham | |
| Northwest Massachusetts nonmetropolitan area |