The annual salary statistics of loan officers in Norwich-New London, Rhode Island is shown in Table 1. The wage data of loan officers in Norwich-New London 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 | $45,180 |
| 25th Percentile Wage | $52,690 |
| 50th Percentile Wage | $65,770 |
| 75th Percentile Wage | $82,640 |
| 90th Percentile Wage | $117,550 |
Table 1 shows the average annual salary for loan officers in Norwich-New London, Rhode Island in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $117,550. The median (50th percentile) annual salary is $65,770. The average annual salary for the bottom 10 percent earners is $45,180.
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 | $65,770 | 3.95% | -1.46% |
| 2021 | $63,170 | 12.14% | - |
| 2020 | $55,500 | -8.05% | - |
| 2019 | $59,970 | -10.17% | - |
| 2018 | $66,070 | -22.25% | - |
| 2017 | $80,770 | 21.22% | - |
| 2016 | $63,630 | 2.26% | - |
| 2015 | $62,190 | 5.26% | - |
| 2014 | $58,920 | -5.14% | - |
| 2013 | $61,950 | -7.72% | - |
| 2012 | $66,730 | - | - |
From Table 3 we note that with a median annual salary of $65,770, Norwich-New London is the second highest paying city for loan officers in state of Rhode Island, following the highest paying city Providence-Fall River-Warwick (median annual salary of $78,590). Compared with Providence-Fall River-Warwick, the median annual salary of loan officers in Norwich-New London is 16.3 percent (16.3%) lower.
| Cities/Areas | Median Annual Salary |
|---|---|
| Providence-Fall River-Warwick | |
| Norwich-New London |