The average salary for a loan officer in Massachusetts is around $79,570 per year.
Avg Salary
Loan officers earn an average yearly salary of $79,570.
Wages typically start from $47,230 and go up to $161,650.
25% above national average Updated in 2021
Loan officer earnings by seniority
90th percentile
Top-level loan officer earnings begin at:
$77.72 per hour
$161,650 per year
75th percentile
Senior-level loan officer earnings begin at:
$60.49 per hour
$125,810 per year
50th percentile
Mid-level loan officer earnings begin at:
$38.25 per hour
$79,570 per year
25th percentile
Junior-level loan officer earnings begin at:
$29.07 per hour
$60,470 per year
10th percentile
Starting level loan officer earnings begin at:
$22.71 per hour
$47,230 per year
Approximate values based on highest and lowest earning segments.
Loan officer salary by state
| State Name | Average Salary |
|---|---|
| New York | $96,430 |
| District of Columbia | $81,170 |
| Massachusetts | $79,570 |
| New Jersey | $78,870 |
| Minnesota | $78,660 |
| Rhode Island | $78,640 |
| Nevada | $78,470 |
| Oregon | $78,300 |
| North Dakota | $77,060 |
| Colorado | $76,920 |
| Kansas | $76,920 |
| New Hampshire | $76,920 |
| Michigan | $76,840 |
| North Carolina | $76,840 |
| Virginia | $76,710 |
| Nebraska | $75,700 |
| Wisconsin | $74,890 |
| Missouri | $74,520 |
| Arkansas | $74,490 |
| Pennsylvania | $65,810 |
| California | $64,390 |
| South Dakota | $63,560 |
| Hawaii | $63,460 |
| Montana | $63,270 |
| Maine | $63,200 |
| Illinois | $63,170 |
| Iowa | $62,650 |
| Maryland | $62,610 |
| Washington | $62,530 |
| Kentucky | $62,320 |
| Ohio | $62,320 |
| Wyoming | $62,160 |
| Georgia | $62,100 |
| Connecticut | $61,850 |
| New Mexico | $61,170 |
| Texas | $61,120 |
| Tennessee | $60,800 |
| Indiana | $60,550 |
| Delaware | $60,140 |
| Florida | $60,110 |
| Oklahoma | $60,110 |
| Vermont | $60,110 |
| Alabama | $53,410 |
| South Carolina | $53,410 |
| Arizona | $52,530 |
| Idaho | $49,920 |
| Louisiana | $49,780 |
| Alaska | $49,620 |
| Utah | $48,300 |
| West Virginia | $48,000 |
| Mississippi | $44,480 |
| Guam | $38,630 |
| Puerto Rico | $30,080 |
How do loan officer salaries compare to similar careers?
Loan officers earn about the same as related careers in Massachusetts. On average, they make less than cost estimators but more than investment bankers.
| Career | Median Salary |
|---|---|
| Cost estimator salary | $99K |
| Securities and commodities broker salary | $78K |
| Stock trader salary | $78K |
| Underwriter salary | $97K |
| Consultant salary | $82K |
| Loan officer salary | $80K |
| Auditor salary | $81K |
| Accountant salary | $81K |
| Budget analyst salary | $82K |
| Investment banker salary | $78K |
Source: CareerExplorer (Aggregated)