The annual salary statistics of loan officers in Maryland nonmetropolitan area, Maryland is shown in Table 1. The wage data of loan officers in Maryland 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 | $37,190 |
| 25th Percentile Wage | $45,340 |
| 50th Percentile Wage | $50,990 |
| 75th Percentile Wage | $81,100 |
| 90th Percentile Wage | $94,450 |
Table 1 shows the average annual salary for loan officers in Maryland nonmetropolitan area, Maryland in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $94,450. The median (50th percentile) annual salary is $50,990. The average annual salary for the bottom 10 percent earners is $37,190.
The table and chart below show the trend of the median salary of loan officers from 2012 to 2022.
| Year | Median Salary | Yearly Growth | 4-Year Growth |
|---|---|---|---|
| 2022 | $50,990 | -17.89% | 6.43% |
| 2021 | $60,110 | -4.08% | - |
| 2020 | $62,560 | 13.04% | - |
| 2019 | $54,400 | 12.30% | - |
| 2018 | $47,710 | - | - |
From Table 3 we note that the median annual salary of $50,990 in Maryland nonmetropolitan area is in the middle of salary range for loan officers in state of Maryland. In comparison, the annual salary of loan officers in Maryland nonmetropolitan area is 40.1 percent (40.1%) lower than that in the highest paying Salisbury and 5.5 percent (5.5%) higher than that in the lowest paying Upper Eastern Shore nonmetropolitan area.
| Cities/Areas | Median Annual Salary |
|---|---|
| Salisbury | |
| Baltimore-Towson | |
| California-Lexington Park | |
| Bethesda-Rockville-Frederick | |
| Maryland nonmetropolitan area | |
| Upper Eastern Shore nonmetropolitan area |