The median annual wage for loan officers was $63,430 in May 2015.
The median wage is the wage at which half the workers in an occupation earned more than that amount and half earned less. The lowest 10 percent earned less than $32,870, and the highest 10 percent earned more than $130,630.
The form of compensation varies widely by employer. Some loan officers are paid a flat salary; others are paid on commission. Those on commission usually are paid a base salary plus a commission for the loans they originate. Loan officers also may receive extra commission or bonuses based on the number of loans they originate or how well the loans perform.
Most loan officers work full time.
Loan Officers
Median annual wages, May 2015
Financial specialists
$67,740
Loan officers
$63,430
Total, all occupations
$36,200
Note: All Occupations includes all occupations in the U.S. Economy. Source: U.S. Bureau of Labor Statistics, Occupational Employment Statistics
