The annual salary statistics of loan officers in Cleveland-Elyria-Mentor, Ohio is shown in Table 1. The wage statistics of loan officers in Cleveland-Elyria-Mentor 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 | $30,870 |
| 25th Percentile Wage | $45,620 |
| 50th Percentile Wage | $63,320 |
| 75th Percentile Wage | $90,890 |
| 90th Percentile Wage | $128,610 |
Table 1 shows the average annual salary for loan officers in Cleveland-Elyria-Mentor, Ohio in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $128,610. The median (50th percentile) annual salary is $63,320. The average annual salary for the bottom 10 percent earners is $30,870.
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 | $63,320 | 1.14% | 14.78% |
| 2021 | $62,600 | -26.85% | - |
| 2020 | $79,410 | -5.04% | - |
| 2019 | $83,410 | 9.48% | - |
| 2018 | $75,500 | 2.81% | - |
| 2017 | $73,380 | 3.88% | - |
| 2016 | $70,530 | 7.81% | - |
| 2015 | $65,020 | 17.01% | - |
| 2012 | $53,960 | - | - |
From Table 3 we note that with a median annual salary of $63,320, Cleveland-Elyria-Mentor is the second highest paying city for loan officers in state of Ohio, following the highest paying city Columbus (median annual salary of $64,220). Compared with Columbus, the median annual salary of loan officers in Cleveland-Elyria-Mentor is 1.4 percent (1.4%) lower.
| Cities/Areas | Median Annual Salary |
|---|---|
| Columbus | |
| Cleveland-Elyria-Mentor | |
| Akron | |
| Dayton | |
| Cincinnati-Middletown | |
| Springfield | |
| Other Ohio nonmetropolitan area | |
| West Northwestern Ohio nonmetropolitan area | |
| Eastern Ohio nonmetropolitan area | |
| Toledo | |
| Lima | |
| Canton-Massillon | |
| Mansfield | |
| Southern Ohio nonmetropolitan area | |
| Sandusky |