The annual salary statistics of loan officers in Portland-South Portland-Biddeford, Maine is shown in Table 1. The wage data of loan officers in Portland-South Portland-Biddeford 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 | $48,210 |
| 25th Percentile Wage | $60,270 |
| 50th Percentile Wage | $73,780 |
| 75th Percentile Wage | $108,220 |
| 90th Percentile Wage | $172,600 |
Table 1 shows the average annual salary for loan officers in Portland-South Portland-Biddeford, Maine in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $172,600. The median (50th percentile) annual salary is $73,780. The average annual salary for the bottom 10 percent earners is $48,210.
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 | $73,780 | -4.26% | 33.55% |
| 2021 | $76,920 | 16.58% | - |
| 2020 | $64,170 | -34.99% | - |
| 2019 | $86,620 | -3.21% | - |
| 2018 | $89,400 | 5.03% | - |
| 2017 | $84,900 | 29.80% | - |
| 2016 | $59,600 | 1.49% | - |
| 2015 | $58,710 | 3.47% | - |
| 2014 | $56,670 | 5.86% | - |
| 2013 | $53,350 | 8.10% | - |
| 2012 | $49,030 | - | - |
From Table 3 we note that with a median annual salary of $73,780, Portland-South Portland-Biddeford is the second highest paying city for loan officers in state of Maine, following the highest paying city Lewiston-Auburn (median annual salary of $75,970). Compared with Lewiston-Auburn, the median annual salary of loan officers in Portland-South Portland-Biddeford is 2.9 percent (2.9%) lower.
| Cities/Areas | Median Annual Salary |
|---|---|
| Lewiston-Auburn | |
| Portland-South Portland-Biddeford | |
| Bangor | |
| Southwest Maine nonmetropolitan area | |
| Northeast Maine nonmetropolitan area |