The annual salary statistics of loan officers in Northwest Massachusetts nonmetropolitan area, Massachusetts is shown in Table 1. The wage information of loan officers in Northwest Massachusetts nonmetropolitan area 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 | $43,190 |
| 25th Percentile Wage | $48,660 |
| 50th Percentile Wage | $58,400 |
| 75th Percentile Wage | $75,600 |
| 90th Percentile Wage | $98,380 |
Table 1 shows the average annual salary for loan officers in Northwest Massachusetts nonmetropolitan area, Massachusetts in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $98,380. The median (50th percentile) annual salary is $58,400. The average annual salary for the bottom 10 percent earners is $43,190.
The table and chart below show the trend of the median salary of loan officers from 2012 to 2017. Note that there is no salary data for some years between 2012 and 2022.
| Year | Median Salary | Growth | 5-Year Growth |
|---|---|---|---|
| 2017 | $58,400 | -26.71% | -17.09% |
| 2014 | $74,000 | 8.11% | - |
| 2013 | $68,000 | -0.56% | - |
| 2012 | $68,380 | - | - |
From Table 3 we note that with a median annual salary of $58,400, Northwest Massachusetts nonmetropolitan area is the lowest paying city for loan officers in state of Massachusetts, following city of Boston-Cambridge-Quincy (median annual salary of $80,910). In comparison, the median annual salary of loan officers in Northwest Massachusetts nonmetropolitan area is 27.8 percent (27.8%) lower than that in the highest paying city Boston-Cambridge-Quincy.
| 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 |