The annual salary statistics of loan officers in Virginia Beach-Norfolk-Newport News, Virginia is shown in Table 1. The wage data of loan officers in Virginia Beach-Norfolk-Newport News 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 | $38,070 |
| 25th Percentile Wage | $52,180 |
| 50th Percentile Wage | $75,060 |
| 75th Percentile Wage | $99,840 |
| 90th Percentile Wage | $169,520 |
Table 1 shows the average annual salary for loan officers in Virginia Beach-Norfolk-Newport News, Virginia in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $169,520. The median (50th percentile) annual salary is $75,060. The average annual salary for the bottom 10 percent earners is $38,070.
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 | $75,060 | 15.84% | 34.25% |
| 2021 | $63,170 | 7.01% | - |
| 2020 | $58,740 | 1.16% | - |
| 2019 | $58,060 | 2.39% | - |
| 2018 | $56,670 | -7.61% | - |
| 2017 | $60,980 | 3.12% | - |
| 2016 | $59,080 | 4.32% | - |
| 2015 | $56,530 | -0.11% | - |
| 2014 | $56,590 | 10.44% | - |
| 2013 | $50,680 | 2.62% | - |
| 2012 | $49,350 | - | - |
From Table 3 we note that the median annual salary of $75,060 in Virginia Beach-Norfolk-Newport News is in the middle of salary range for loan officers in state of Virginia. In comparison, the annual salary of loan officers in Virginia Beach-Norfolk-Newport News is 4.1 percent (4.1%) lower than that in the highest paying Charlottesville and 41.6 percent (41.6%) higher than that in the lowest paying Danville.
| Cities/Areas | Median Annual Salary |
|---|---|
| Charlottesville | |
| Richmond | |
| Virginia Beach-Norfolk-Newport News | |
| Staunton-Waynesboro | |
| Southside Virginia nonmetropolitan area | |
| Southwestern Virginia nonmetropolitan area | |
| Northwestern Virginia nonmetropolitan area | |
| Roanoke | |
| Blacksburg-Christiansburg-Radford | |
| Kingsport-Bristol-Bristol | |
| Harrisonburg | |
| Lynchburg | |
| Northeastern Virginia nonmetropolitan area | |
| Danville |