The annual salary statistics of loan officers in Boston-Cambridge-Quincy, Massachusetts is shown in Table 1. The wage information of loan officers in Boston-Cambridge-Quincy is based on the national compensation survey conducted by the U.S. Bureau of Labor Statistics in 2022 and published in April 2023 [1].
| Percentile Bracket | Average Annual Salary |
|---|---|
| 10th Percentile Wage | $41,120 |
| 25th Percentile Wage | $53,470 |
| 50th Percentile Wage | $76,000 |
| 75th Percentile Wage | $118,370 |
| 90th Percentile Wage | $199,520 |
Table 1 shows the average annual salary for loan officers in Boston-Cambridge-Quincy, Massachusetts in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $199,520. The median (50th percentile) annual salary is $76,000. The average annual salary for the bottom 10 percent earners is $41,120.
The table and chart below show the trend of the median salary of loan officers from 2012 to 2017.
| Year | Median Salary | Yearly Growth | 5-Year Growth |
|---|---|---|---|
| 2017 | $76,000 | -7.61% | 9.87% |
| 2016 | $81,780 | -3.19% | - |
| 2015 | $84,390 | 4.44% | - |
| 2014 | $80,640 | 8.99% | - |
| 2013 | $73,390 | 6.66% | - |
| 2012 | $68,500 | - | - |
From Table 3 we note that the median annual salary of $76,000 in Boston-Cambridge-Quincy is in the middle of salary range for loan officers in state of Massachusetts. In comparison, the annual salary of loan officers in Boston-Cambridge-Quincy is 6.1 percent (6.1%) lower than that in the highest paying Boston-Cambridge-Quincy and 23.2 percent (23.2%) higher than that in the lowest paying Northwest Massachusetts nonmetropolitan area.
| Cities/Areas | Median Annual Salary |
|---|---|
| Boston-Cambridge-Quincy | |
| Barnstable Town | |
| Pittsfield | |
| Leominster-Fitchburg-Gardner | |
| Peabody | |
| New Bedford | |
| Brockton-Bridgewater-Easton | |
| Boston-Cambridge-Quincy | |
| Worcester | |
| Springfield | |
| Massachusetts nonmetropolitan area | |
| Framingham | |
| Taunton-Norton-Raynham | |
| Northwest Massachusetts nonmetropolitan area |