Updated May 2026 · BLS OEWS 2024 reference period
Entry-Level Loan Officer Salary (2026)
Entry-level loan officers earn approximately $39,951 per year as of 2026, based on the 10th percentile of Bureau of Labor Statistics OEWS wage data — a standard proxy for first-year pay before significant experience or specialization. Across U.S. metros, entry-level pay ranges from $23,190 (lowest) to $60,750 (highest), depending on local labor market and cost of living.
10th percentile across U.S. metros, employment-weighted
What This Pay Level Means
The 10th percentile is the BLS-published wage below which only 10% of workers in this occupation earn — a reliable proxy for new entrants in their first one-to-two years. Workers in this band have minimal independent scope, are often still in formal training or apprenticeship, and have limited negotiation leverage. Pay grows fastest in the first three-to-five years as scope and credentials expand.
For workers with 2–5 years of experience, the right benchmark shifts to the 25th percentile (junior / early-career band). For 5+ years, the 50th percentile (median) becomes the anchor. See "How much does a junior loan officer make?" and "How much do loan officers make?" for those bands.
Top-Paying Metros at This Level
| Metro | Entry-level Pay |
|---|---|
| Boston, MA | $60,750 |
| Minneapolis, MN | $57,650 |
| New York, NY | $49,690 |
| Chicago, IL | $47,940 |
| Washington, DC | $47,260 |
What the Numbers Tell You
Geographic pay variation for Loan Officers is meaningful but moderate — top metros pay roughly 1.9× the lowest, a $48,840 spread. Cost of living plus a modest premium for high-demand metros explains most of it.
Roughly 120,190 Loan Officers are employed across the metros tracked here — a sizable mid-tier occupation with reliable percentile data.
Other Pay Levels for Loan Officers
Each percentile band targets a distinct experience level — see the dedicated page for your career stage:
- Junior loan officer salary →
- How much do loan officers make →
- Senior loan officer salary →
- Top 10% loan officer salary →
How This Salary Is Calculated
Wages come from the U.S. Bureau of Labor Statistics' Occupational Employment and Wage Statistics (OEWS) program — an annual survey of about 1.2 million U.S. establishments published by Standard Occupational Classification (SOC) code and Metropolitan Statistical Area. The figure on this page is employment-weighted across 25 BLS-tracked metros for SOC code 13-2072. The mapping from BLS percentiles to experience bands (entry / junior / mid / senior / top 10%) follows the convention used by the U.S. Department of Labor's prevailing wage system. See full methodology.
Frequently Asked Questions
Entry-Level Loan Officer Salary (2026)?
Entry-level loan officers earn approximately $39,951 per year as of 2026, based on the 10th percentile of Bureau of Labor Statistics OEWS wage data — a standard proxy for first-year pay before significant experience or specialization. Across U.S. metros, entry-level pay ranges from $23,190 (lowest) to $60,750 (highest), depending on local labor market and cost of living.
How does this percentile compare to the median?
Loan Officers have a national median (50th percentile) of $77,238. The 10th percentile shown on this page ($39,951) is 48% below the median — typical for this experience band.
Where do loan officers at this level earn the most?
Boston, MA pays the highest at this percentile band — $60,750. Lowest-paying tracked metro: Austin, TX at $23,190.
What years of experience does this percentile represent?
The 10th percentile is the BLS-published wage below which only 10% of workers in this occupation earn — a reliable proxy for new entrants in their first one-to-two years. Workers in this band have minimal independent scope, are often still in formal training or apprenticeship, and have limited negotiation leverage. Pay grows fastest in the first three-to-five years as scope and credentials expand.
Where does this loan officer salary data come from?
Every wage figure comes from the U.S. Bureau of Labor Statistics' Occupational Employment and Wage Statistics (OEWS) program at bls.gov/oes — an annual federal survey of more than 1 million U.S. employers. The percentile figure on this page is employment-weighted across BLS-tracked metros.
Entry-level loan officers earn approximately $39,951 per year as of 2026, based on the 10th percentile of Bureau of Labor Statistics OEWS wage data — a standard proxy for first-year pay before significant experience or specialization. Across U.S. metros, entry-level pay ranges from $23,190 (lowest) to $60,750 (highest), depending on local labor market and cost of living.