The average salary for a loan officer in Massachusetts is around $70,090 per year.
Avg Salary
Loan officers earn an average yearly salary of $70,090.
Wages typically start from $37,330 and go up to $185,400.
26% above national average Updated in 2018
Loan officer earnings by seniority
Top-level loan officer earnings begin at:
$89.14 per hour
$185,400 per year
Senior-level loan officer earnings begin at:
$53.02 per hour
$110,270 per year
Mid-level loan officer earnings begin at:
$33.70 per hour
$70,090 per year
Junior-level loan officer earnings begin at:
$24.02 per hour
$49,950 per year
Starting level loan officer earnings begin at:
$17.95 per hour
$37,330 per year
Approximate values based on highest and lowest earning segments.
Loan officer salary by state
| State Name | Average Salary |
|---|---|
| Connecticut | $88,768 |
| Illinois | $81,620 |
| New York | $78,520 |
| New Hampshire | $76,430 |
| Nebraska | $75,800 |
| Kansas | $75,462 |
| District of Columbia | $74,840 |
| New Jersey | $73,180 |
| Minnesota | $72,030 |
| Massachusetts | $70,090 |
| Texas | $68,710 |
| Maryland | $68,060 |
| Missouri | $68,010 |
| Florida | $67,760 |
| North Dakota | $67,610 |
| Kentucky | $67,450 |
| Pennsylvania | $66,807 |
| Hawaii | $66,666 |
| Ohio | $64,770 |
| Oregon | $64,610 |
| Maine | $64,110 |
| Virginia | $63,860 |
| Wisconsin | $62,850 |
| North Carolina | $62,360 |
| Wyoming | $61,860 |
| Iowa | $61,518 |
| Oklahoma | $61,230 |
| Colorado | $61,010 |
| Nevada | $60,630 |
| Washington | $60,540 |
| Rhode Island | $60,460 |
| California | $60,420 |
| South Carolina | $60,250 |
| Delaware | $60,140 |
| Idaho | $59,677 |
| South Dakota | $59,520 |
| Vermont | $58,650 |
| Montana | $57,840 |
| Mississippi | $57,500 |
| Indiana | $57,023 |
| Alaska | $56,980 |
| Arkansas | $55,514 |
| Georgia | $54,690 |
| Tennessee | $54,490 |
| Alabama | $53,488 |
| Arizona | $52,696 |
| New Mexico | $51,460 |
| West Virginia | $48,820 |
| Louisiana | $48,230 |
| Guam | $45,840 |
| Utah | $45,470 |
| Puerto Rico | $29,150 |
How do loan officer salaries compare to similar careers?
Loan officers earn 7% less than similar careers in Massachusetts. On average, they make less than securities and commodities brokers but more than risk management specialists.
| Career | Median Salary |
|---|---|
| Securities and commodities broker salary | $73K |
| Stock trader salary | $73K |
| Actuary salary | $101K |
| Statistician salary | $101K |
| Financial analyst salary | $87K |
| Loan officer salary | $70K |
| Investment banker salary | $81K |
| Fraud analyst salary | $81K |
| Financial quantitative analyst salary | $81K |
| Risk management specialist salary | $81K |
Source: CareerExplorer (Aggregated)