The annual salary statistics of loan officers in Albany-Schenectady-Troy, New York is shown in Table 1. The wage data of loan officers in Albany-Schenectady-Troy 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 | $41,890 |
| 25th Percentile Wage | $51,380 |
| 50th Percentile Wage | $74,730 |
| 75th Percentile Wage | $112,130 |
| 90th Percentile Wage | $178,940 |
Table 1 shows the average annual salary for loan officers in Albany-Schenectady-Troy, New York in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $178,940. The median (50th percentile) annual salary is $74,730. The average annual salary for the bottom 10 percent earners is $41,890.
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 | $74,730 | -1.75% | 23.50% |
| 2021 | $76,040 | 17.91% | - |
| 2020 | $62,420 | -1.68% | - |
| 2019 | $63,470 | 20.80% | - |
| 2018 | $50,270 | -13.17% | - |
| 2017 | $56,890 | -0.63% | - |
| 2016 | $57,250 | 10.10% | - |
| 2015 | $51,470 | -1.36% | - |
| 2014 | $52,170 | -5.12% | - |
| 2013 | $54,840 | -4.25% | - |
| 2012 | $57,170 | - | - |
From Table 3 we note that the median annual salary of $74,730 in Albany-Schenectady-Troy is in the middle of salary range for loan officers in state of New York. In comparison, the annual salary of loan officers in Albany-Schenectady-Troy is 22.3 percent (22.3%) lower than that in the highest paying Elmira and 30.5 percent (30.5%) higher than that in the lowest paying Utica-Rome.