The annual salary statistics of loan officers in Newark-Union, Pennsylvania is shown in Table 1. The wage data of loan officers in Newark-Union 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 | $40,310 |
| 25th Percentile Wage | $53,630 |
| 50th Percentile Wage | $74,910 |
| 75th Percentile Wage | $102,810 |
| 90th Percentile Wage | $161,590 |
Table 1 shows the average annual salary for loan officers in Newark-Union, Pennsylvania in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $161,590. The median (50th percentile) annual salary is $74,910. The average annual salary for the bottom 10 percent earners is $40,310.
The table and chart below show the trend of the median salary of loan officers from 2012 to 2017.
| Year | Median Salary | Yearly Growth | 5-Year Growth |
|---|---|---|---|
| 2017 | $74,910 | -1.23% | -5.99% |
| 2016 | $75,830 | 1.93% | - |
| 2015 | $74,370 | 6.75% | - |
| 2014 | $69,350 | -3.94% | - |
| 2013 | $72,080 | -10.16% | - |
| 2012 | $79,400 | - | - |
From Table 3 we note that the median annual salary of $74,910 in Newark-Union is in the middle of salary range for loan officers in state of Pennsylvania. In comparison, the annual salary of loan officers in Newark-Union is 6.5 percent (6.5%) lower than that in the highest paying Allentown-Bethlehem-Easton and 36.6 percent (36.6%) higher than that in the lowest paying East Stroudsburg.