Cities where loan officers earned the biggest salaries in 2014

by MPA06 Apr 2015
Depending on where you live, you could be making thousands more a year. How does your salary stack up to other loan officers in the United States? 

To find the highest- and lowest- paying metro areas for loan officers, we turned to recently released data available from the Bureau Labor of Statistics (BLS). The report found that the average annual salary for a loan officer was about $73,670 in 2014 up from $71,800 in 2013. 

The BLS annual Occupational Employment Statistics report for loan officers includes regional data for the highest-concentrated locations, average annual salaries and highest employment in 2014. The BLS definition of loan officer includes mortgage loan officers and agents, collection analysts, loan servicing officers and loan underwriters.

Here are the 10 best-paying areas for loan officers: 
  1. New York- White Plains-Wayne, New York: Annual median wage in 2014 was $110,180, down from the 2013 average of $116,590.
  2. West Palm Beach-Boca Raton-Boynton Beach, Florida:Annual median wage in 2014 was $107,660, up from the 2013 average of $91,420.  
  3. Grand Junction, Colorado:  Annual median wage in 2014 was $107,440, up from the 2013 average of $93,440.
  4. Ocala, Florida: Annual median wage in 2014 was $106,350, up from the 2013 average of $98,250.  
  5. Peabody, Massachusetts: Annual median wage in 2014 was $104,440, up from the 2013 average of $93,490.  
  6. San Francisco-San Mateo-Redwood City, California: Annual median wage in 2014 was $103,920, up from the 2013 average of $98,840.
  7. Boston-Cambridge-Quincy, Massachusetts: Annual median wage in 2014 was $98,550, up from the 2013 average of $$85,960.
  8. Fort Collins-Loveland, Colorado: Annual median wage in 2014 was $96,390, up from the 2013 average of $70,110. 
  9. Framingham, Massachusetts: Annual median wage in 2014 was $96,360, up from the 2013 average of $85,680.  
  10. Miami-Miami Beach-Kendall, Florida: Annual median wage in 2014 was $96,330, up from the 2013 average of $83,970. 
Click here to view the BLS annual Occupational Employment Statistics report for loan officers.
 

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