The annual salary statistics of loan officers in Provo-Orem, Utah is shown in Table 1. The wage statistics of loan officers in Provo-Orem 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 | $30,670 |
| 25th Percentile Wage | $36,780 |
| 50th Percentile Wage | $44,550 |
| 75th Percentile Wage | $78,980 |
| 90th Percentile Wage | $104,040 |
Table 1 shows the average annual salary for loan officers in Provo-Orem, Utah in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $104,040. The median (50th percentile) annual salary is $44,550. The average annual salary for the bottom 10 percent earners is $30,670.
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 | $44,550 | -5.70% | -12.91% |
| 2021 | $47,090 | -2.87% | - |
| 2020 | $48,440 | -7.04% | - |
| 2019 | $51,850 | -14.27% | - |
| 2018 | $59,250 | -17.40% | - |
| 2017 | $69,560 | 8.17% | - |
| 2016 | $63,880 | -12.23% | - |
| 2015 | $71,690 | 13.92% | - |
| 2014 | $61,710 | 8.88% | - |
| 2013 | $56,230 | 10.55% | - |
| 2012 | $50,300 | - | - |
From Table 3 we note that the median annual salary of $44,550 in Provo-Orem is in the middle of salary range for loan officers in state of Utah. In comparison, the annual salary of loan officers in Provo-Orem is 41.9 percent (41.9%) lower than that in the highest paying Central Utah nonmetropolitan area and 16.9 percent (16.9%) higher than that in the lowest paying Northern Utah nonmetropolitan area.