The annual salary statistics of loan officers in Buffalo-Niagara Falls, New York is shown in Table 1. The wage data of loan officers in Buffalo-Niagara Falls 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 | $38,600 |
| 25th Percentile Wage | $49,670 |
| 50th Percentile Wage | $62,740 |
| 75th Percentile Wage | $101,330 |
| 90th Percentile Wage | $164,940 |
Table 1 shows the average annual salary for loan officers in Buffalo-Niagara Falls, New York in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $164,940. The median (50th percentile) annual salary is $62,740. The average annual salary for the bottom 10 percent earners is $38,600.
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 | $62,740 | -5.96% | -7.84% |
| 2021 | $66,480 | 7.57% | - |
| 2020 | $61,450 | 0.47% | - |
| 2019 | $61,160 | -0.93% | - |
| 2018 | $61,730 | 7.40% | - |
| 2017 | $57,160 | 8.36% | - |
| 2016 | $52,380 | 10.61% | - |
| 2015 | $46,820 | -12.94% | - |
| 2014 | $52,880 | 2.10% | - |
| 2013 | $51,770 | -30.69% | - |
| 2012 | $67,660 | - | - |
From Table 3 we note that the median annual salary of $62,740 in Buffalo-Niagara Falls is in the middle of salary range for loan officers in state of New York. In comparison, the annual salary of loan officers in Buffalo-Niagara Falls is 34.8 percent (34.8%) lower than that in the highest paying Elmira and 17.2 percent (17.2%) higher than that in the lowest paying Utica-Rome.