The annual salary statistics of loan officers in Hagerstown-Martinsburg, West Virginia is shown in Table 1. The wage information of loan officers in Hagerstown-Martinsburg 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 | $41,720 |
| 25th Percentile Wage | $48,420 |
| 50th Percentile Wage | $74,940 |
| 75th Percentile Wage | $116,770 |
| 90th Percentile Wage | $139,840 |
Table 1 shows the average annual salary for loan officers in Hagerstown-Martinsburg, West Virginia in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $139,840. The median (50th percentile) annual salary is $74,940. The average annual salary for the bottom 10 percent earners is $41,720.
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 | $74,940 | 22.12% | 20.27% |
| 2021 | $58,360 | 21.49% | - |
| 2020 | $45,820 | -76.12% | - |
| 2019 | $80,700 | -6.73% | - |
| 2018 | $86,130 | 0.42% | - |
| 2017 | $85,770 | 40.78% | - |
| 2016 | $50,790 | -0.16% | - |
| 2015 | $50,870 | 3.09% | - |
| 2014 | $49,300 | -34.02% | - |
| 2013 | $66,070 | 9.57% | - |
| 2012 | $59,750 | - | - |
From Table 3 we note that the median annual salary of $74,940 in Hagerstown-Martinsburg is in the middle of salary range for loan officers in state of West Virginia. In comparison, the annual salary of loan officers in Hagerstown-Martinsburg is 2.4 percent (2.4%) lower than that in the highest paying Washington-Arlington-Alexandria and 42.7 percent (42.7%) higher than that in the lowest paying Weirton-Steubenville.
| Cities/Areas | Median Annual Salary |
|---|---|
| Washington-Arlington-Alexandria | |
| Winchester | |
| Hagerstown-Martinsburg | |
| Morgantown | |
| North Central West Virginia nonmetropolitan area | |
| Southern West Virginia nonmetropolitan area | |
| Wheeling | |
| Huntington-Ashland | |
| Steubenville-Weirton | |
| Parkersburg-Marietta-Vienna | |
| Beckley | |
| Charleston | |
| Cumberland | |
| Weirton-Steubenville |