The annual salary statistics of loan officers in Providence-Fall River-Warwick, Rhode Island is shown in Table 1. The wage data of loan officers in Providence-Fall River-Warwick 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 | $30,710 |
| 25th Percentile Wage | $47,230 |
| 50th Percentile Wage | $78,590 |
| 75th Percentile Wage | $97,520 |
| 90th Percentile Wage | $160,110 |
Table 1 shows the average annual salary for loan officers in Providence-Fall River-Warwick, Rhode Island in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $160,110. The median (50th percentile) annual salary is $78,590. The average annual salary for the bottom 10 percent earners is $30,710.
The table and chart below show the trend of the median salary of loan officers from 2012 to 2021.
| Year | Median Salary | Yearly Growth | 9-Year Growth |
|---|---|---|---|
| 2021 | $78,590 | 13.73% | 27.40% |
| 2020 | $67,800 | 11.40% | - |
| 2019 | $60,070 | -1.00% | - |
| 2018 | $60,670 | 2.92% | - |
| 2017 | $58,900 | -0.75% | - |
| 2016 | $59,340 | -9.82% | - |
| 2015 | $65,170 | 6.12% | - |
| 2014 | $61,180 | -0.08% | - |
| 2013 | $61,230 | 6.81% | - |
| 2012 | $57,060 | - | - |
From Table 3 we note that with a median annual salary of $78,590, Providence-Fall River-Warwick is the highest paying city for loan officers in state of Rhode Island, followed by Norwich-New London (median annual salary $65,770). In comparison, the median annual salary of loan officers in Providence-Fall River-Warwick is 16.3 percent (16.3%) higher than that in Norwich-New London.
| Cities/Areas | Median Annual Salary |
|---|---|
| Providence-Fall River-Warwick | |
| Norwich-New London |